HBS Grads Stress Security of Business Careers

Over 200 students looking to gain advice on the world of business packed Science Center D yesterday for a forum entitled "Consulting vs. Investment Banking."

A Career Week offering sponsored by Harvard Student Agencies, the forum focused on the options and opportunities available to undergraduates looking to go into consulting or investment banking.

The panelists also attempted to allay student's fears about job security in the wake of Merrill Lynch's announcement Tuesday that it was laying-off 3,400 employees, or roughly 5 percent of its work force.

"Investment banking and consulting have been by far the most popular [career choices] on campus and are also the biggest employers," said Marc P. Cosentino, associate director of career services at the Kennedy School of Government and the forum's moderator.

The panel was made up of Jill D. Altshuler '84, Carla A Harris '84, Elizabeth S. Hilton-Segel '94, Cynthia Bates and Torrance Boone.

All the panelists are graduates of Harvard Business School and are currently working as consultants or investment bankers.

After a brief introduction from Cosentino, the panelists began by answering questions directed by the moderator and then answered questions directly from audience members.

When introducing the panelists, Cosentino described investment bankers as "finance specialists" and consultants as strategic generalists. Representing investment bankers, Harris, a principal at Morgan Stanley Dean Witter, replied to that definition.

"As an investment banker, you have to understand the strategy of the company you represent," Harris said.

Bates, an employee of Merrill Lynch, said she agreed with Harris.

"Understanding a company's strategy is a very important part of my job," Bates said.

Representing the consulting industry,

challenging as other careers, the rewards in terms of personal satisfaction make it worthwhile.

In non-profit work there is "not a lot of income security, but there is a lot of job security," said Jim Yong Kim, a physician at Brigham and Women's Hospital, instructor and lecturer at Harvard Medical School and co-founder of Partners in Health, an international organization dedicated to improving health in poor communities.

Panelist Diego E. Sanchez '97, executive director of Tutoring Plus of Cambridge, said the salary offered by non-profit organizations is definitely less than that offered by consulting or banking firms, but noted "you can do well while doing good."

Sanchez also reassured students that there is valuable business experience to be gained from non-profit work, as well as opportunities for advancement.

In terms of preparing for a career in the public sector, panelists suggested gaining experience through volunteering.

Panelists also said passion for a cause is a prerequisite.

Panelists said students seeking jobs in non-profit organizations must be aggressive since there is little active recruiting.

Jonathan D. Silverman '95, a consultant with the Atlas Communities Project at an educational research organization, emphasized the importance of networking.

"You really need to rely on the people you know, the people you met through the work you're interested in," Silverman said.

Panel Moderator Rebecca Onie '97, founder of Project HEALTH (Helping Empower Advocate and Lead Through Health), warned students that finding a job in a non-profit organization may not be easy.

Panelists also discussed the lack of emphasis during careers week on careers in the public sector.

Onie acknowledged that because of the "general push on campus for careers in the profit sector," students' concerns about their future income and the tendency of undergraduates to view "careers in the profit sector as more challenging than those in the non-profit," students are often unenthusiastic about choosing a career in the public sector.

Sanchez, recalled his own dilemma when attending the Career Forum.

"I was wondering if I was going to lose the battle and end up at one of those consulting or banking firms," Sanchez said.

He called his experience at the Career Forum, where there were only four or five non-profit organizations relegated to a corner of the room, "depressing."

PBHA President Elisabeth A. Tomlinson '99, who attended the panel, also commented on the lack of representation by non-profits at the annual Career Forum.

"I'm dismayed to see at the Career Forum on Friday, [investment bank] Goldman Sachs has as many tables as all the non-profit organizations," Tomlinson said.

Reaction to the forum was positive.

"I thought it was inspiring and informative," said Katherine L. Hable '01.

Hable said that having one out of the four panels during Career Week focus on careers in the public sector was "significant.

challenging as other careers, the rewards in terms of personal satisfaction make it worthwhile.

In non-profit work there is "not a lot of income security, but there is a lot of job security," said Jim Yong Kim, a physician at Brigham and Women's Hospital, instructor and lecturer at Harvard Medical School and co-founder of Partners in Health, an international organization dedicated to improving health in poor communities.

Panelist Diego E. Sanchez '97, executive director of Tutoring Plus of Cambridge, said the salary offered by non-profit organizations is definitely less than that offered by consulting or banking firms, but noted "you can do well while doing good."

Sanchez also reassured students that there is valuable business experience to be gained from non-profit work, as well as opportunities for advancement.

In terms of preparing for a career in the public sector, panelists suggested gaining experience through volunteering.

Panelists also said passion for a cause is a prerequisite.

Panelists said students seeking jobs in non-profit organizations must be aggressive since there is little active recruiting.

Jonathan D. Silverman '95, a consultant with the Atlas Communities Project at an educational research organization, emphasized the importance of networking.

"You really need to rely on the people you know, the people you met through the work you're interested in," Silverman said.

Panel Moderator Rebecca Onie '97, founder of Project HEALTH (Helping Empower Advocate and Lead Through Health), warned students that finding a job in a non-profit organization may not be easy.

Panelists also discussed the lack of emphasis during careers week on careers in the public sector.

Onie acknowledged that because of the "general push on campus for careers in the profit sector," students' concerns about their future income and the tendency of undergraduates to view "careers in the profit sector as more challenging than those in the non-profit," students are often unenthusiastic about choosing a career in the public sector.

Sanchez, recalled his own dilemma when attending the Career Forum.

"I was wondering if I was going to lose the battle and end up at one of those consulting or banking firms," Sanchez said.

He called his experience at the Career Forum, where there were only four or five non-profit organizations relegated to a corner of the room, "depressing."

PBHA President Elisabeth A. Tomlinson '99, who attended the panel, also commented on the lack of representation by non-profits at the annual Career Forum.

"I'm dismayed to see at the Career Forum on Friday, [investment bank] Goldman Sachs has as many tables as all the non-profit organizations," Tomlinson said.

Reaction to the forum was positive.

"I thought it was inspiring and informative," said Katherine L. Hable '01.

Hable said that having one out of the four panels during Career Week focus on careers in the public sector was "significant.