SG COWEN

SG COWEN: NEW

SG COWEN: NEW

RECRUITS

RECRUITS

COURSE ID: HRM301

COURSE ID: HRM301

TEAM MEMBERS

TEAM MEMBERS

 NAME: NAFEES REZA

 NAME: NAFEES REZA

 NAME: TAMZID RABBY

 NAME: TAMZID RABBY

 NAME: ABU HENA MOSTAFA AWAL

 NAME: ABU HENA MOSTAFA AWAL

1.

1. WHWHAT ARAT ARE THE KE THE KEY DEEY DECISCISION PION POINOINTS USTS USED BY SED BY S.. G. COWEN IN MAKING HIRING DECISION? WHAT IS G. COWEN IN MAKING HIRING DECISION? WHAT IS YOUR EVALUATION OF THE PROCESS USED BY YOUR EVALUATION OF THE PROCESS USED BY THETHE

FIRM? FIRM?

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2. WHAWHAT IS YOT IS YOUR EVUR EVALUALUATIATION OF TON OF THE CRHE CRITEITERIARIA USED BY THIS ORGANIZATION IN MAKING HIRING USED BY THIS ORGANIZATION IN MAKING HIRING

DECISIONS? DECISIONS?

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3. WHWHICH TICH TWO CAWO CANDINDIDATDATES WOES WOULD YULD YOU SEOU SELECLECT IFT IF YOU WERE A MEMBER OF THE RECRUITING YOU WERE A MEMBER OF THE RECRUITING

COMMITTEE? WHY? COMMITTEE? WHY?

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iNDE 

iNDE 

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What are the key decision points used by S. G. Cowen in making hiring decision? What is What are the key decision points used by S. G. Cowen in making hiring decision? What is your evaluation of the process used by the firm?

your evaluation of the process used by the firm? Answer:

Answer:

Key decision points used by S. G. Cowen in making hiring decision are given below: Key decision points used by S. G. Cowen in making hiring decision are given below:

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 Recruiting process had done by the Banking professionals and not human resourceRecruiting process had done by the Banking professionals and not human resource  professionals

 professionals

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 Select top 25 universities for recruiting new graduates.Select top 25 universities for recruiting new graduates.

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 Recruiters make a presentation with candidates to know them about the companyRecruiters make a presentation with candidates to know them about the company and inform them „‟who they

and inform them „‟who they are, what do they do, what distinguishes them from theare, what do they do, what distinguishes them from the competitors and what are the next steps.

competitors and what are the next steps.

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 Give a chance to visit the company /firm to the candidates.Give a chance to visit the company /firm to the candidates.

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 Make two rounds of interviews.Make two rounds of interviews.

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 They justify the behavior/attitude of the candidates on the super Saturday.They justify the behavior/attitude of the candidates on the super Saturday.

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 Finally they hire those candidates who are fit for tFinally they hire those candidates who are fit for t he firm.he firm.

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 They target threshers, who will be loyal to the firm.They target threshers, who will be loyal to the firm.

The hiring process using by the firm is quite well. Specially the made two round of  The hiring process using by the firm is quite well. Specially the made two round of  interview which is a very innovative one. And they had also selected top 10, sometimes top interview which is a very innovative one. And they had also selected top 10, sometimes top 25 universities students who are meritorious, skillful and off course scholars. These 25 universities students who are meritorious, skillful and off course scholars. These candidates can be made a good contribution for the firm. The recruiting process had done candidates can be made a good contribution for the firm. The recruiting process had done  by the

 by the professionals professionals which was which was also also good for good for the the hiring hiring because because they they know which know which type of type of  candidates they need.

candidates they need.

But the problem is that, campus recruiting is time consuming process and it is also costly. But the problem is that, campus recruiting is time consuming process and it is also costly. The recruiter made the interview on the class time, for this many qualified candidates may The recruiter made the interview on the class time, for this many qualified candidates may not able to attend the interview. The recruiter also offered to visit the firm to the candidates. not able to attend the interview. The recruiter also offered to visit the firm to the candidates. It was good. But candidates were told to visit on their own cost/expenses. That was not It was good. But candidates were told to visit on their own cost/expenses. That was not good, because that might make a negative image to the firm.

good, because that might make a negative image to the firm.

Question: 01 Question: 01

The presentation made by the recruiters to the candidates may make good impression about The presentation made by the recruiters to the candidates may make good impression about the firm. This is because here firm was introduced to the candidates. From that presentation the firm. This is because here firm was introduced to the candidates. From that presentation candidates may know who the firm does, how they do, what the quality they want.

candidates may know who the firm does, how they do, what the quality they want. Finally we think S.G. Cowen hiring decision is very impressive.

Finally we think S.G. Cowen hiring decision is very impressive.

What is your evaluation of the criteria used b

What is your evaluation of the criteria used by this organization in making hiring decisions?y this organization in making hiring decisions? Answer:

Answer:

We think currently the candidates are being judged on the basis of the following

We think currently the candidates are being judged on the basis of the following criteria‟scriteria‟s::

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 Technical Skills -(Creativity, Modeling, Accounting/Finance and Prioritizing).Technical Skills -(Creativity, Modeling, Accounting/Finance and Prioritizing). 

 Leadership -(Initiative and Motivation).Leadership -(Initiative and Motivation). 

 Interpersonal skills -(Impact/Presence and Communication Skills).Interpersonal skills -(Impact/Presence and Communication Skills). 

 Commitment to firmCommitment to firm –  – ( Judgment/Maturity).( Judgment/Maturity).

Evaluation of current criteria used by this organization

Evaluation of current criteria used by this organization

Commitment to firm: Commitment to firm:

Almost all firms without exception would want to recruit for the long term. Especially in Almost all firms without exception would want to recruit for the long term. Especially in the current scenario in the investment banking industry where firms are fighting for talent the current scenario in the investment banking industry where firms are fighting for talent and given that SG Cowen‟s employees would be wooed by the top banks, it ma

and given that SG Cowen‟s employees would be wooed by the top banks, it ma kes all thekes all the more sense for the firm to measure candidate‟s commitment to the firm. As SG Cowen is more sense for the firm to measure candidate‟s commitment to the firm. As SG Cowen is offering an informational interview we thinks it is a good way of selecting candidates on offering an informational interview we thinks it is a good way of selecting candidates on the basis of commitment to firm by judged the candidate‟s profile, i

the basis of commitment to firm by judged the candidate‟s profile, i nterest and lot others.nterest and lot others.

Interpersonal skills Interpersonal skills

Given that SG Cowen is a boutique Investment Bank, Associates would be involved in a Given that SG Cowen is a boutique Investment Bank, Associates would be involved in a high level of exposure to clients. They need to be well versed in oral communication since high level of exposure to clients. They need to be well versed in oral communication since that is crucial to perform their 

that is crucial to perform their duties effectively. Rae believes that “longduties effectively. Rae believes that “long--term success …..term success ….. Came

Came from loving the work, loving to teach and sell ….“ According to Rae‟s comment andfrom loving the work, loving to teach and sell ….“ According to Rae‟s comment and

Question: 02 Question: 02

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the hiring process, we can say that SG Cowen has emphasized selecting candidates on the the hiring process, we can say that SG Cowen has emphasized selecting candidates on the  basis inter-personal well.

 basis inter-personal well.

Leadership Leadership

SG Cowen is searching candidates who are go-getters, self-driven individuals who could SG Cowen is searching candidates who are go-getters, self-driven individuals who could take initiatives without being given instructions on what to do. This can be gauged by the take initiatives without being given instructions on what to do. This can be gauged by the  past

 past leadership leadership experiences experiences of of the the candidates candidates and and whether whether they they demonstrated demonstrated a a pattern pattern of of  success in such opportunities and the way they handled such an opportunity in their  success in such opportunities and the way they handled such an opportunity in their   previous work environment. In

 previous work environment. In Schoenberg‟s words “Wall Street does Schoenberg‟s words “Wall Street does not give enough timenot give enough time to people to develop slowly” and according to Fennerbresque “We want the type of person to people to develop slowly” and according to Fennerbresque “We want the type of person here who doesn‟t need to be told what to do. …. We want the self 

here who doesn‟t need to be told what to do. …. We want the self --starter”. Thus, we canstarter”. Thus, we can figure that leadership and initiative criteria played a very important role while selecting figure that leadership and initiative criteria played a very important role while selecting  prospective candidates.

 prospective candidates.

Technical skills Technical skills

At the end of the day a person‟s technical prower, number crunching skills, domain At the end of the day a person‟s technical prower, number crunching skills, domain knowledge of Finance & Accounting, creativity and ability to prioritize is what helped one knowledge of Finance & Accounting, creativity and ability to prioritize is what helped one deliver his duties. As we see the management had earlier rejected candidates who fell short deliver his duties. As we see the management had earlier rejected candidates who fell short on these criteria, we can say that SG Cowen is concerned of selecting the candidates by the on these criteria, we can say that SG Cowen is concerned of selecting the candidates by the  basis of candidate‟s

 basis of candidate‟s technical skilltechnical skills. We alss. We also think this is o think this is the right move since the right move since at the at the end of end of  the end this is what the client would be paying for.

the end this is what the client would be paying for.

There may be some biasness in the final

There may be some biasness in the final decision as some may feel technical decision as some may feel technical skills are moreskills are more important, while others may feel interpersonal skills are more important and their overall important, while others may feel interpersonal skills are more important and their overall rating might depend on their personal opinion. But overall, we are in agreement wit

rating might depend on their personal opinion. But overall, we are in agreement wit h all theh all the criteria‟s used by the organization for making the hiring decisions.

Which two candidates would you select if you were a member of the recruiting committee? Which two candidates would you select if you were a member of the recruiting committee? Why?

Why? Answer: Answer:

In the hiring process, SG COWEN only had two spots l

In the hiring process, SG COWEN only had two spots l eft and had four candidates for thoseeft and had four candidates for those spots. These four candidates were in the “ma

spots. These four candidates were in the “ma ybe” category, and these four candidates were:ybe” category, and these four candidates were: Natalya Godlewska

Natalya Godlewska  Natalya

 Natalya Godlewska Godlewska is is one one of of the the most most competitive competitive applicants. applicants. She She has has qualification qualification toto consider her as competitive applicant. She was the highest GPA holder in in the finance consider her as competitive applicant. She was the highest GPA holder in in the finance department and she also had experience of being teaching assistant in finance department and she also had experience of being teaching assistant in finance department. Furthermore, she spoke fluent Russian, Polish, German and some French. department. Furthermore, she spoke fluent Russian, Polish, German and some French. Moreover, she also had worked for four years for CommScan and these experiences Moreover, she also had worked for four years for CommScan and these experiences gave her good understanding of the financial markets. Furthermore, she spoke fluent gave her good understanding of the financial markets. Furthermore, she spoke fluent Russian, Polish, German and some French.

Russian, Polish, German and some French.

But she had some issues which actually pull her down. She lacked communication skill But she had some issues which actually pull her down. She lacked communication skill and also stiff and uncomfortable during small talk.

and also stiff and uncomfortable during small talk. Martin Street

Martin Street

Martin Street was confident and articulate personnel. He also did possess a dynamic Martin Street was confident and articulate personnel. He also did possess a dynamic  personality, and he had substantial leadership experience.

 personality, and he had substantial leadership experience. Martin Street actually had no business s

Martin Street actually had no business skills, and also there was an uncertaikills, and also there was an uncertainty about hisnty about his grades. Furthermore, he involved in other selection processes, and had some possibility grades. Furthermore, he involved in other selection processes, and had some possibility to change to other firm.

to change to other firm. Ken Goldstein

Ken Goldstein

Ken Goldstein worked at PricewaterhouseCoopers for five years, which actually enrich Ken Goldstein worked at PricewaterhouseCoopers for five years, which actually enrich his experience. He also possessed strong social skills. Moreover he was highly his experience. He also possessed strong social skills. Moreover he was highly

Question: 03 Question: 03

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Ken Goldstein possessed one big reason which actually put him into the “maybes”. The Ken Goldstein possessed one big reason which actually put him into the “maybes”. The reason was that, he had two newborn babies which might not allow him to work 24/7 reason was that, he had two newborn babies which might not allow him to work 24/7 like others.

like others. Andy Sanchez Andy Sanchez

Andy Sanchez a second year MBA at the University of Southern California; had found Andy Sanchez a second year MBA at the University of Southern California; had found early success as an entrepreneur, which gave him a good knowledge on business. He early success as an entrepreneur, which gave him a good knowledge on business. He had an excellent result in both SAT and GMAT. He was highly personable, enthusiastic had an excellent result in both SAT and GMAT. He was highly personable, enthusiastic and ambitious, but his undergraduate GPA was below the average.

and ambitious, but his undergraduate GPA was below the average.

From our point of view; two candidates we would select as a member of the recruiting From our point of view; two candidates we would select as a member of the recruiting committee would be Natalya Godlewska and Andy Sanchez. This is because; Natalya committee would be Natalya Godlewska and Andy Sanchez. This is because; Natalya Godlewska was one of the most competitive applicants, though she might not be a good Godlewska was one of the most competitive applicants, though she might not be a good cultural fit. we think she would overcome her problem since she had positive energy and a cultural fit. we think she would overcome her problem since she had positive energy and a “can

“can--do attitude”; and she woulddo attitude”; and she would be a huge asset for SG COWEN. We would also choosebe a huge asset for SG COWEN. We would also choose Andy Sanchez, as because he had good entrepreneurial knowledge since he had his own Andy Sanchez, as because he had good entrepreneurial knowledge since he had his own  business;

 business; and and he he would would be be a a great great asset asset for for the the company. company. We We would would not not choose choose MartinMartin Street because he does not have any knowledge on business, which is requisite for this job. Street because he does not have any knowledge on business, which is requisite for this job. Ken Goldstein did have valuable work experience but we think he might not be able to give Ken Goldstein did have valuable work experience but we think he might not be able to give enough time to the firm for this reason we would not select him.

enough time to the firm for this reason we would not select him.

The end 

The end