WSJ:Dartmouth: A Good Week for the Unsung Ivy of Financial Connections

Colleges & Universities A-Z Dartmouth College
1

<p>Deal</a> Journal - WSJ.com : Dartmouth: A Good Week for the Unsung Ivy of Financial Connections</p>

<p>
[Quote]

*Dartmouth: A Good Week for the Unsung Ivy of Financial Connections
Posted by Heidi N. Moore *</p>

<p>If you work in finance, there are a few schools ties that you are probably sick of hearing about already: Harvard, for instance, bonds everyone from J.P. Morgan Chase CEO Jamie Dimon to hedge fund investor John Paulson, both of whom were Baker Scholars at its vaunted business school. </p>

<p>But Dartmouth is one school that doesn’t often get the compliment of being widely considered a hotbed of financial connections. That is unfortunate because the college’s color–green–jibes so well with the color of money. (And because The Wall Street Journal named the Tuck School of Business No. 1 in the country.) And it has been a good week for the Big Green.</p>

<p>Monday, for instance, Goldman Sachs Group banker Ken Wilson became the informal savior-in-chief of the American financial system, tapped to provide advice to Treasury Secretary Hank Paulson. Why Wilson? The obvious connection is the Goldman link: Paulson is a Goldman alum and it makes sense he would tap another Goldmanite to fill the hole left when Robert Steel moved on from Treasury to Wachovia.</p>

<p>Then dig deeper: When President Bush called Wilson about the job he felt free to bring up Wilson’s rarely used nickname–Kenny–because they had been classmates at Harvard Business School. </p>

<p>Then even deeper: Wilson and Paulson both attended Dartmouth. </p>

<p>The Dartmouth connection also was at play in a capital infusion at a small Florida bank. </p>

<p>EverBank announced today it received a $100 million investment from Sageview Capital Partners. It wasn’t the most obvious target for Sageview, which has $1.4 billion under management and has made three public investments in companies much more well-known than EverBank, including KKR Financial and defense contractor ACE, as well as 10 private investments in other industries. </p>

<p>Sageview, founded by former Kohlberg Kravis Roberts & Co. partners Scott Stuart and Ned Gilhuly, had been pursuing EverBank for about two years, according to people familiar with the matter. But EverBank fended off all requests while the credit boom was riding high. At the time, EverBank was then “more concerned about our ability to compete before this correction because it seemed to us that lending activities were becoming irrational,” CEO Robert Clements said. </p>

<p>But finally, earlier this year, EverBank was ready to get investors so it could buy up some of the distressed bank assets that were on sale in the rubble of the credit crunch. It reached out to several private-equity firms, looking for capital that it could use to capitalize on the financial distress in the industry. Sageview won out, partially because of the longtime friendship of Messrs. Stuart and Clements. </p>

<p>How did the know each other? The two met at a popular hangout in New Orleans in their youth and both attended Dartmouth, albeit several years apart. As one person familiar with them quipped about the change in environment, “there aren’t many people who know what’s like to go from the swamps to the tundra.”</p>

<p>It doesn’t stop there. Dartmouth has pretty good representation in the world of private equity, where alum James Coulter heads TPG. Other Dartmouth alums include Carlyle Group’s Lou Gerstner and David Leuschen. Jeff Immelt, CEO of General Electric, is a Big Green man who is in the news today because of GE’s co-investment in an $8 billion fund with the Abu Dhabi sovereign-wealth fund. </p>

<p>Of course, there was a time when Dartmouth perhaps wished its alumni didn’t have so much power. Just last year, some committed alumni planned a revolt against the school’s administration.</p>

<p>

[/Quote]
</p>

2

<p>I’m not entirely sure what they’re trying to say… there are a couple of Dartmouth alums in the business world?</p>

3

<p>Actually this article doesn’t do Dartmouth justice. Dartmouth is only after Harvard, Princeton, and Wharton when it comes to business placement.</p>

4

<p>^^ yea right…</p>

5

<p>slipper, quit tellin yourself fairy tales. Dartmouth has a couple MDs on the street? Doesn’t mean crap. All the big dicks go to HPW and maybe Yale/Columbia. Go to Dartmouth if you like playing in the snow and looking at trees. For banking, not so much.</p>

6

<p>Totally wrong. Its interesting how people have no idea how strong Dartmouth is at high finance and elite consulting. Columbia? Worse than Dartmouth. I have a degree from Columbia. In no way is it better than Dartmouth at getting people into finance jobs.</p>

<p><a href=“http://online.wsj.com/article/SB121746658635199271.html?mod=hpp_us_inside_today[/url]”>http://online.wsj.com/article/SB121746658635199271.html?mod=hpp_us_inside_today&lt;/a&gt;&lt;/p&gt;

<p>[2007</a> list of BB Summer Associate class by colleges | WallStreetOasis.com](<a href=“http://www.wallstreetoasis.com/forums/2007-list-of-bb-summer-associate-class-by-colleges]2007”>http://www.wallstreetoasis.com/forums/2007-list-of-bb-summer-associate-class-by-colleges)</p>

<p>[Private</a> Equity Firms & Universities: What’s the Relationship? | BankersBall](<a href=“Bankers Ball”>Bankers Ball)</p>

<p>[Deal</a> Journal - WSJ.com : Dartmouth: A Good Week for the Unsung Ivy of Financial Connections](<a href=“http://blogs.wsj.com/deals/2008/07/22/dartmouth-a-good-week-for-the-unsung-ivy-of-financial-connections/]Deal”>http://blogs.wsj.com/deals/2008/07/22/dartmouth-a-good-week-for-the-unsung-ivy-of-financial-connections/)</p>

<p><a href=“http://talk.collegeconfidential.com/college-search-selection/235587-consulting-core-schools.html?highlight=consulting+core[/url]”>http://talk.collegeconfidential.com/college-search-selection/235587-consulting-core-schools.html?highlight=consulting+core&lt;/a&gt;&lt;/p&gt;

7

<p>

</p>

<p>Do you go around to every college subboard and incite flames with your arrogance?</p>

<p>[Forbes</a> knows better than you.](<a href=“http://www.forbes.com/leadership/2008/07/30/college-salary-graduates-lead-cz_kb_0730topcolleges.html]Forbes”>http://www.forbes.com/leadership/2008/07/30/college-salary-graduates-lead-cz_kb_0730topcolleges.html)</p>

<p>

</p>

<p>Go cry.</p>

8

<p>^ Haha, nothing but domination sneamia.</p>

9

<p>Hey slipper,</p>

<p>I’m familiar with your position that Dartmouth does better than Columbia when it comes to banking/consulting placement, but why do you think that’s so? As you’re one of the few people who have attended both schools for undergrad, I think you’d be well positioned to answer this question.</p>

<p>The main reason I can think of is the D-plan, but it’s hard to swallow that a scheduling difference gives Dartmouth such a boost. Especially since Columbia has the edge in academic prestige and does a superb job of educating its students through the Core. Or perhaps it’s the beer pong?</p>

<p>By the way, in the Forbes article referenced by sneamia where Dartmouth was on top, Columbia was dead last among the Ivies and behind schools like Holy Cross and Bucknell. (Oh, the horrors!) Then again, the article is based on a survey from payscale.com and the methodology is suspect.</p>

10

<p>Slipper, I still wonder how you can say Dartmouth undergrad placement is better than Columbia undergrad placement when Columbia is in the financial center of the world, NYC. If I remember correctly, I think you said companies are willing to go great distances to snag a couple undergrads but don’t travel too far when recruiting grad students? This really does not make sense. Columbia is in NYC and Dartmouth is in Hanover; understandably, one would expect Columbia to have better business recruitment than Dartmouth.</p>

<p>I highly doubt the Dplan is a great advantage over other Ivy League schools. Pretty much any Ivy Leaguer can get a good internship if they have good grades. Hence, the Dplan is a non factor here.</p>

11

<p>

</p>

<p>Ah…but that would be just intuitive now wouldn’t it?</p>

<p>Fortunately for most finance jobs, recruitment is primarily done through Alumni networks. Dartmouth grads are successful primarily because the network is highly incestuous.</p>

12

<p>Proximity doesn’t determine greatness. You can stand next to Superman and still be Jimmy Olsen.</p>

13

<p>Shrugging/ Brown man.</p>

<p>1) In business its arguable whether Columbia or Dartmouth is more prestigious, even at the graduate level. Also they are both equally prestigious at the undergrad level for business. Yet Dartmouth’s alumni network is far stronger and there is greater loyalty. Also there is better preperation and the career services are better. </p>

<p>2) Location is largely irrelevant because at the UNDERGRAD level students are looking for BB IBanking jobs at the 7-10 big banks or botiques (Goldman, Lazard, etc) and the 5 or so elite consulting firms. All these firms travel to Hanover just as they do to Columbia. In fact more travel to Dartmouth than to Columbia. </p>

<p>At the MBA level location is far more important as students are often looking to go to smaller botiques and hedge funds that don’t recruit at the undergrad level. Often these jobs are obtained through networking. The elite jobs in finance so desired at the undergrad level (i.e. banking) are often less desired now as students have moved on to PE, hedge funds, etc. </p>

<p>3) The D-plan advantage is HUGE. No one gets an elite consulting or banking job without an internship, which is often harder to land than a job offer. Dartmouth’s special access to top firms in the fall, winter, and spring gives it almost an unfair advantage. I would guess a far larger percentage of elite business internship applicants get in from Dartmouth over places like Columbia and Penn (non-Wharton) just for this reason.</p>

14

<p>

</p>

<p>Uh, no. Loyalty is greater? You’re an idiot. Prove this.</p>

<p>

</p>

<p>Wrong. My BB recruits at Columbia for IBD and S&T and only recruits at Dartmouth for S&T. All the big firms recruit at Columbia and Dartmouth but some top PE houses recruit only at Columbia not Dartmouth (Apax, Summit, Blackstone, Rho)</p>

<p>

</p>

<p>Maybe I’m the anomaly, but I’d rather intern during the calendar year at Columbia then do a one month internship at some weak firm. That may just be me, though.</p>

15

<p>Actually the internships run about 12 to 15 weeks. It is not unusual for students to intern winter, spring and summer terms during their junior year.</p>

<p>Poor Dartmouth students and the weak firms that come to Hanover to internships and ful ltime offers…</p>

<p>Following companies holding on-campus interviews:</p>

<p>CITIGROUP / Capital Markets S&O:
CAPITAL MARKETS OPERATIONS ANALYST
CAPITAL MARKETS S&O ANALYST </p>

<p>CITIGROUP/CITIBANK / Financial Division
FINANCE ANALYST </p>

<p>INVESTOR GROUP SERVICES (IGS)</p>

<p>LEHMAN BROTHERS / Investment Banking-INVESTMENT BANKING ANALYST </p>

<p>LEHMAN BROTHERS / Sales & Trading or Equity Research:
PUBLIC FINANCE ANALYST
SECURITIZATION BANKING ANALYST
SALES, TRADING AND RESEARCH ANALYST
EQUITY RESEARCH ANALYST </p>

<p>LOUIS DREYFUS COMMODITIES -COMMODITY TRADER PROGRAM
BANK OF AMERICA -I-BANKING & CAPITAL MARKETS ANALYST </p>

<p>Credit Suisse First Boston Corp- EQUITY AND FIXED INCOME S&T ANALYST
MONITOR GROUP -UNDERGRADUATE GROUP CONSULTANT </p>

<p>BARCLAYS CAPITAL BRIDGEWATER ASSOCIATES
MORGAN STANLEY SEMPRA COMMODITIES
MERCER
GOLDMAN, SACHS & CO CIBC WORLD MARKETS
DEAN & COMPANY DRESDNER KLEINWORT FIDELITY INVESTMENTS
JPMORGAN KEEFE, BRUYETTE & WOODS, INC
NEWSTAR FINANCIAL Northwestern Mutual Financial
STANDARD & POOR’S VISTA RESEARCH
UBS DEUTSCHE BANK MERCER MANAGEMENT CONSULTING
MCKINSEY AND COMPANY BLACKROCK
BAIN & COMPANY MERCER OLIVER WYMAN
MARS & COMPANY BEAR STEARNS & COMPANY
LEK CONSULTING MERRILL LYNCH
APPLIED VALUE BOSTON CONSULTING GROUP
NERA ECONOMIC CONSULTING REVOLUTION PARTNERS, LLC
CAMBRIDGE ASSOCIATES LLC NORTHBRIDGE GROUP
TRINITY PARTNERS, INC. / Healthcare Consulting
WACHOVIA CORPORATION AXIA LIMITED
CAPITAL ONE PARTHENON GROUP CSMG Adventis
LECG DOVE CONSULTING BROWN BROTHERS HARRIMAN & CO.
LNR SECURITIES CORPORATE EXECUTIVE BOARD BANCWARE ERISK
ALLIANCE CONSULTING GROUP
Lazard</p>

<p>They must be doing something right when students start to complain when they go to job fair that there are so many jobs and on-campus interviews for banking and consulting that they would like to see more things outside of those fields.</p>

<p><a href=“http://www.dartmouth.edu/~csrc/pdfs/fair_guide.pdf[/url]”>http://www.dartmouth.edu/~csrc/pdfs/fair_guide.pdf&lt;/a&gt;&lt;/p&gt;

<p>Write up from the employer fair:</p>

<p>Taylor Cornwall '06 made the last-minute decision to “go corporate,” eventually with Mercer consulting firm. This year, he returned to Dartmouth to recruit for his company. It was a big step for the history major that spent his junior summer teaching in China.</p>

<p>Economics major Kelsey Wiegmann '06, who also revisited her alma mater on behalf of her new employer, always thought she would do something in finance. She just didn’t have a definite direction. “It was basically through the career fair that I learned what banking was about,” she said.</p>

<p>Three interview rounds later, Wiegmann was one of 11 Dartmouth students in Deutsche Banks’s incoming financial analyst group of 150.</p>

<p>Some seniors have already signed with companies. Alisha Levine '07 interned at consulting firm Bain & Company during her junior summer and accepted an offer at the end of the internship.</p>

<p>Levine reflected that her strong belief in the power of liberal arts led her to major in Chinese despite its apparent contrast with her new career.</p>

<p>** debating whether Dartmouth recognition and success translates to real-world recognition and success should look to the Barrett Cup winner for all-around achievement by a man in his graduating class, Pete Sokol-Hessner '04. Currently pursuing a Ph.D. in Cognitive Neuroscience at NYU, Sokol-Hessner was recently featured in a New Yorker article on the emerging field of neuroeconomics. **</p>

<p>Private equity Associate Michael Newton '04 echoed Doughty’s assessment. Despite working with graduates from numerous top-tier schools, Newton said he consistently finds Dartmouth students to be fast learners, high-level performers and, perhaps most notably, well-rounded individuals who aren’t as “crazy-competitive” as other graduates.</p>

<p>After graduating, **Newton worked at a private equity firm with three Dartmouth-connected team members, including one who insisted that the firm recruit at the College. **</p>

<p>[TheDartmouth.com</a> | So you want a job, just sign your soul here](<a href=“http://thedartmouth.com/2006/09/29/mirror/so/]TheDartmouth.com”>http://thedartmouth.com/2006/09/29/mirror/so/)</p>

16

<p>

</p>

<p>Do you even go to Columbia? if yes, you haven’t even taken a class there yet, assuming that you got accepted as a transfer.</p>

<p>on 10/18/07 you posted:</p>

<p>

</p>

<p>april 16th you wrote that you were accepted to Chicago as a transfer</p>

<p>

</p>

17

<p>Nice to know that I’m important enough to have you navigate through my posts to dig up information about me. But your ‘work’ was pointless.</p>

<p>

</p>

<p>Yeah, I was accepted to all my schools (except for Harvard), and am going to Columbia. Let me ask you: do you have a job? 9000+ posts since August 2004? Unemployment must be boring, huh?</p>

<p>

</p>

<p>I don’t get it. What’s your point? I haven’t taken courses at Columbia, but my statements still stand. I said:</p>

<p>

</p>

<p>That doesn’t change just because I transferred into Columbia.</p>

<p>‘Internet detective’ isn’t a real job. Next time you look up information on me try to have a point. Or on second thought, maybe you should be spending your time looking through the classifieds.</p>

18

<p>I think you misunderstand the Dartmouth internship opportunity openingdoors. 10-12 weeks is the length of any program, whether summer, fall, winter, or spring. No Dartmouth internships are one month. AND imagine having FOUR seasons to get a top internship instead of having to compete with everyone else for your junior summer.</p>

<p>I transferred from Columbia and went to b-school there. I know how the place works. And I know how Dartmouth works.</p>

19

<p>openingdoors, I’m not even going to try to sell Dartmouth to you, because that kind of arrogance and elitism is exactly what Dartmouth does NOT foster. Enjoy living a life of ignorance, because clearly that’s fine with you.</p>

20

<p>Fear not, openingdoors. As I am not going to the poor house nor will I be unemployed anytime soon.</p>

<p>I get paid by the post;)</p>