Careers in Finance

Philip Marronephilip.marrone@cit.com

• SMG Class of 2007, Concentration in Finance, Accounting & Entrepreneurship• Job Positions:

o CIT Group, Problem Loan Management (Restructuring), Associate, Jan. 2010 -Present

Manage portfolio of leverage loans in various states of distress Negotiate with companies, bank group and advisors to determine best course

of action for troubled companieso CIT Group, Healthcare Investment Banking, Analyst, Jul. 2007 - Jan. 2010

Mergers & acquisitions advisory for middle market healthcare companies Leveraged loan underwriting and syndications

• Internship Positions:o Boardwalk Consulting – Junior Financial Consultant, Spring 2007o Dynamia Interactive – Business Development, Summer 2006

• Expand your career search o Understand that “Finance” is much broader than Investment Bankingo There are many ways to reach your ultimate goal or dream jobo Keep your options open

• Seek career advice from various resourceso Be proactive and do not rely on resources to approach youo ABC: Always Be Closing – every introduction is an opportunity to market yourselfo Know yourself and incorporate advice that feels appropriate to you

• Careers are not black and white o Instead of focusing on a job title – focus on attributes of a job or skill-sets you

would like utilizing on a daily basiso Use job descriptions as a starting point to evaluate your fit with a particular position

and then follow-up with individuals at the firm / in the field for a better picture of the day-to-day activities involved

Your Career in Finance

Skill / Function Focused Career Search - Illustrative Example

Growth• Business expands revenue

and earnings• Proves concept / business

model • Attract the attention of

outside investors

• There are can be many career paths which focus on similar job functions

Inception GrowthPublic

Company Raise Debt Consulting Acquisitions

• Create a business idea

• •Capital infusion to grow business

• •Venture capital exit• •Entrepreneur

Liquidity• •Raise public equity

or sell to a private equity firm to grow

Early Stage Late Stage

• •Raise debt capital to grow

• •Financial flexibility

• •Strategic & Management Consulting

• •Restructuring

Career Types:• •Entrepreneur• •Angel Investors

Career Types:• •Venture Capital• •Private Equity• •Investment

Managers• •Entrepreneur

Career Types:• •Private Equity• •Investment

banking (“Equity Capital Mkts”)

• •Sales & Trading• •Equity research• •Investment

managers• •Wealth managers

Career Types:• •Commercial Banks• •Corporate Banking• •Investment

Banking (“Debt Capital Markets”)

• •Ratings Agencies• •Sales & Trading• •Hedge / Debt

Funds• •Fixed income

research

Career Types:• •Consulting firms• •Restructuring firms• •Special Situation

advisors

Illustrative Evolution of a Business

Select Financial Services Segments - Depth of Job Offerings

Investment Banking Hedge / Debt FundsPrivate Equity / Venture Capital

• Industry Coverage• Product Group• Capital Markets• Sales & Trading• Equity Research• Compliance / Risk

• Value, Growth, Blend• Long-only, Long/Short, Short-

only• Fundamental, Distressed,

Macro, Event-Driven, Trading, Quant

• Growth Equity• Large-Cap Fund• Middle Market • Control Equity• Secondaries• Co-Investing

Front Office

• Client Pitching• Valuation / Modeling• Deal Execution

o M&Ao Leveraged Financeo Equity & Debt

Solutions

• Investment Analysis• Portfolio Management• Trading

• Deal Origination• Valuation• Investment Analysis Modeling• Portfolio Management

Middle Office

• Portfolio Credit Analysis• Pricing• Counterparty Risk• Ratings• P&L Reporting• Mark to Market Reporting• Cash Management (treasury)• Loan Operations• Settlements

• CFO/COO• Cash Management• Marketing• Legal • Compliance

• Legal Entities• Tax Structuring• Investor Reporting• Fund Valuation

Key Skills for Any Finance Job

Growth• Business expands revenue

and earnings• Proves concept / business

model • Attract the attention of

outside investors