• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Cowen
 

Cowen

on

  • 2,120 views

S.G.Cowen Case

S.G.Cowen Case

Statistics

Views

Total Views
2,120
Views on SlideShare
2,115
Embed Views
5

Actions

Likes
0
Downloads
94
Comments
0

2 Embeds 5

http://www.slideshare.net 4
https://twitter.com 1

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Cowen Cowen Presentation Transcript

    • Staffing at S G Cowen
    • Investment Banking Industry
      • HR is central
        • Compensation costs 50% of revenue
      • Difficult to get talent, esp. before the dotcom bust
    • S G Cowen
      • Assets of over $ 430bn
      • Focus on healthcare and technology
      • Medium sized
        • Less bureaucracy
        • Move much faster
    • S G Cowen (contd.)
      • More freedom and responsibility
        • “the type of person who does well here doesn’t want to be told what to do.”
      • Hands on high touch
        • Create jobs for people
      • Recruiting included on performance review
      • Rejection of an offer as a blow to co.
    • Hiring Process
      • New class of associates
      • Core business schools
        • Next 15 schools in the top 25: loyal
        • Top of the class
        • Defect after dotcom bust?
      • HR as symbols
      • Resist any kind of ‘science’
    • Criteria for Hiring
      • Demonstrated a pattern of success
      • Fast learners
      • “fit”
      • Lack of information
      • Signals that can ‘differentiate’
        • Institutions as certifications
        • Clients also look for this: non MBAs?
    • Informational Interview
      • Team captains
        • Banking professionals
        • Alumni
      • First level screens
      • Realistic job previews?
      • Standard presentation by HR?
        • Involvement of the bankers
    • On Campus Interview
      • Sr./ associates conduct
        • Identification of talent
        • Assessing skills
      • Liable for the quality of candidates brought
        • Easier to handle by HR
      • Associates are associates
        • Breadth & long term view
        • Future peers and rivals
    • On Campus Interview (contd.)
      • Rae as institutional memory
        • Knowledge mgmt.?
      • Yield: 12.5%
      • Detailed notes during interviews
      • Culture fit
    • Super Saturday
      • Top bankers
      • Multiple interviews/ interviewers
      • Confident of ‘whipping through the list’
      • Yield: 66%
      • Pseudo social setting with a formal interview process
      • Very finality
    • Interviewing
      • Each had their own methodology
      • “ Psychologists and sociologists have studied the reliability and validity of job interviews in great depth, and their conclusions are somewhat devastating . Job interviews are neither reliable nor valid in general .” (Baron & Kreps, Strategic human resources, 1999)
    • Interviewing (contd. 1)
      • Recommendation of literature
        • More structure
      • Hiring is a ‘romantic’ process
        • Date vs. dry logic of arranged marriage
      • “ A good HR practitioner has to be a proficient detective who asks the kind of questions that get candidates to open up and reveal their good and bad workplace characteristics.”
    • Interviewing (contd. 2)
      • “Red flags”
        • Culture fit
        • Variance is good
      • Share real life experience
      • Some structure
        • Relative evaluation
      • Take notes
    • Aids for Hiring
      • Grades
        • Grades and job performance are loosely correlated
      • How honest are references?
      • Psychological tests
        • Interpreting the results
        • Cause-effect relationships at work
    • Culture through Hiring
      • Get people to behave like a firm
      • Engaging the entire firm
      • “ right stuff”
      • Is a firm in which everyone fits truly a desirable thing?
        • “ Ideal type”
        • Personal values vs. organisational values
        • Cowen stands vs. aspires
    • Candidates
      • Godlewska
        • “ Culture fit”?: English, social skills
        • Go getter, technical skills
      • Street
        • Leadership: army
        • Wharton grades not disclosed
        • Lack of interest
    • Candidates (contd.)
      • Goldstein
        • Consistently good performer
        • Family
        • “Too mature”
      • Sanchez
        • Entrepreneur, self starter
        • Grades, other interests
          • Ran a test coaching service himself
    • Barriers to Change
      • Frank discussion on what the job demands
      • Looking different to third parties
        • Institutional pressures
    • References
      • Posthuma et al. 2002 Beyond employment interview validity. Personnel psychology , 55, 1-81.
      • Campion 1997 A review of structure in the selection interview. Personnel psychology , 690.