Career Diversity

LOFT Opportunities

LOFT offers unique opportunities to members seeking to start their professional career and get ahead. The following are current openings. In order to apply, please follow the instructions listed on each link. Must be a LOFT member to apply. 2009 INTERNSHIPS The Hershey Company One of the largest North American manufacturers offers students the opportunity to explore careers in food technology, information technology,voice and data networking technologies and more. For details about The Hershey Company's internship positions, see the document below. Hormel Foods Corporation Hormel Foods Corporation is a Fortune 500 multinational manufacturer and marketer of consumer-branded food products, many of which are among the best known and trusted in the food industry. Interns will gain real world experience by performing the duties of their full-time counterparts. For details about Hormel Foods Internship positions, see the document below. Summer Associates Program Chase Card Services Summer Associates Program is an internship program with two tracks: Marketing and Analytics. The goal is to recruit, retain and develop a diverse group of high caliber resources for junior level roles. The Summer Associates Program will run June 1 - August 7 in Wilmington, DE and will include challenging work assignments, training, networking events and community involvement. For more information, see the document posted below as "Summer Associates Program". John F. Kennedy Center for the Performing Arts Fall 2009 Internship: Washington, DC To be posted at a later time. FELLOWSHIPS LOFT Fellows ExxonMobil looks to nurture motivated sophomores, juniors and seniors across the country, with a passion for Engineering and Science. LOFT Fellows is an opportunity for selected students to be exposed to a top quality company by participating in their world class mentoring program. Each student will be paired up with one of ExxonMobil engineers/scientists to learn how their knowledge is applied in a corporate setting. Open to students pursuing majors in: Environmental Engineering, Mechanical Engineering, Computer Engineering, Electrical Engineering, Chemical Engineering, Civil Engineering, Petroleum Engineering, Materials Engineering, Industrial Engineering, Physics, Mathematics, Chemistry, Geology, Material Sciences. Interested candidates must send their application and additional documents to loft@hispanicheritage.org by March 16. See application below.

This event is an expenses-paid visit to our global headquarters in New York that gives students the opportunity to get an inside look at our Investment Bank. They will have the opportunity to explore the world of Investment Banking, Sales & Trading and Research through job-shadows, hands-on training sessions and networking with our top people.

The event is open to top Black, Hispanic and Native American freshmen from any major. Students will need a genuine and deep-rooted interest in investment banking, sales, trading or research, plus a minimum 3.5 GPA. Please view the attached flyer and share with students who may be interested.

Applications are due March 15, 2009. For more information on how to apply, students should visit the Launching Leaders Experience page on jpmorgan.com/launchingleaders

“Hi, my name is Tom Matthews. Bob Smith suggested we meet. Is there any time in the
next six weeks we could get together for lunch?”
“Can we have lunch, just to get to know each other better?”
You have no idea how much busy entrepreneurs hate to hear these words. Despite
knowing that the meeting almost certainly is a waste of time, common courtesy to the
caller and “Bob Smith” means the entrepreneur has little choice but to squeeze something
else into his eighty hour work week, meaning that work, family or charitable duties must
suffer.

Finally, it’s the day of the meeting. Thankfully, the entrepreneur’s assistant has managed
to convert the lunch to a short meeting.
“Nice to meet you.”
“Nice to meet you.”
“So how do you know Bob?”
“We met a few weeks ago, and your name came up.”
Another ten minutes are wasted on empty pleasantries, like the weather and the latest
sports scores. Finally the moment comes.
“So what can I do to help?”
“Well, I’m not sure. I’m just trying to network with as many people as possible. I’m
thinking about changing careers.” (Heavy sigh from the entrepreneur.)
“So what kind of job would interest you?”
“Well, I’m not sure. Something that’s really exciting and pays well. I’m really open to
anything.” (Another heavy sigh.)

Then, if you are really unlucky, the guest begins to recount, in agonizing detail, his life
story. This takes another fifteen minutes. Time moves slowly. Very slowly. Finally, the
meeting is over. Another half hour wasted.
What’s wrong with this picture?
So what went wrong? Is the entrepreneur unsociable? Selfish? No, not at all. Even the
most charitable person wants to know – what’s in it for me? Even if “what’s in it for me”
is the joy of helping someone else.

Basically, as an entrepreneur with a family and obligations to my community and church,
every minute of every day is already taken. That means there’s an opportunity cost for
every new task accepted. If you waste my time because you haven’t thought about your
own goals, you are telling me that, at best, you are naïve; at worst, self absorbed. Not
exactly the best first impression.

It is a waste of time to use personal interviews to learn about an industry or decide what
you should do with your life. A stranger or casual acquaintance doesn’t know you well
enough to give you personal career advice and general career advice isn’t very valuable.
If you want to learn more about an industry, it’s more efficient and effective to read about
the industry first and then interview front line workers—not bother a CEO with general
questions.

Save interviews and interactions with busy entrepreneurs until you know exactly what
you need. Someone who can help you naturally becomes your mentor, so make it as easy
as possible for them to help by having a specific request.

But, But, But……
“But don’t entrepreneurs want to make new friends?” Sure, but at their own choosing,
not as a social obligation because it’s rude to refuse to see you. Sometimes random
meetings do lead to long lasting friendships, but the odds are against it.

“But I just need someone to listen to me.” Sorry, that’s not an entrepreneur’s
responsibility. That’s the job of a spouse, friend or counselor.

“But I need to learn more about your industry.” Fine. Read a book. I’ll even send you a
list of books by e-mail. Surf the internet. Talk to salespeople and operators. I can’t tell
you enough about my industry in thirty minutes to do you much good. You need to do
hours and hours of reading to even scratch the surface.

“But I’d like to meet influential people.” So would I. That doesn’t mean they want to
meet me.

“But I’m really talented and wonderful.” I’m sure you are. Now do something to prove
it. Like doing your homework before you burden busy people with meaningless
interviews.

It’s Not about You
“Can you introduce me to Michael Dell? I’d like to ask him some questions about the
computer industry.”

Amazingly enough, just last year an incoming student made this request. He never
stopped to ask whether Michael Dell would have any interest in meeting him. Or what
Michael would have to push aside to make time for such a meeting. He never stopped to
consider how much personal capital it would take me to set up such a meeting or what the
cost would be to me if he wasted Michael’s time.

The first rule of “networking”—by the way, I hate that word – is that you must put
yourself in the shoes of the other person. Why would they want to meet you? How can
they help with the least possible expenditure of time or effort? How can you make such
an encounter enjoyable for the other person?

If you cannot recast your idea of networking: “Here’s what I need;” into one of humble
service: “I’ve got something to give to the world, and with just a little help from you I
can make my dream a reality;” you shouldn’t expect to get far. Bottom line: You cannot
expect the world to revolve around you and what you need.

Some Suggestions
The suggestions below will help you get the most out of personal interviews:

1. Do your personal soul searching and industry homework first.
Take a personal inventory. Take aptitude tests. Ask those who know you well what
you do better than most. Do whatever it takes to narrow your search to a few
industries. Read about these industries and the leading companies and people.
Personal interviews with teachers, entrepreneurs and executives should not be used to
narrow your search or learn about jobs or industries. A stranger or casual acquaintance
doesn’t know you well enough to map out your career. This is a very inefficient use of
a busy person’s time.

2. Be specific about what you need. Make sure the other person understands how a
little effort on their part can make a big difference in your life.

Be clear about what you want. People are more likely to help you if they understand
what you need, why it matters and how they can help with a minimum of time and
effort. If you can’t explain this in a few sentences, you don’t need a meeting.

3. Always put yourself in the other person’s shoes.
Whenever you contact anyone, stop and put yourself in their shoes. Why would they
want to talk with you? How can you make it easy on them? How can you demonstrate
that talking with you would be entertaining or educational? At the very least, be
humble and appreciative.

4. Make it easy.
Never ask for a lunch if a short meeting will do. Never ask for a meeting if a phone call
will suffice. Never ask for a phone call if an e-mail will get the job done.

5. Don’t pester.
If the other person isn’t interested, back off. Ask if there’s someone else they suggest
you could talk with or something they suggest you read. Perseverance is a great
character trait if you are pursuing a worthy goal, but an empty meeting is not a worthy
goal.

6. Start at the bottom.
Once you have narrowed the list of industries, make your first contacts with people who
are helping serve real customers. Look for people who have recently joined the
company. These are the people who can tell you the most about what your experience
will be like with a company or within an industry. You can learn about an industry’s
history by reading biographies of industry pioneers.

7. Show up prepared.
If you do need a phone call or meeting, be prepared. Make sure you have read all the
important books about the industry and the biographies about its pioneers in advance.
Thoroughly research the company and the individual with whom you meet.

8. Send a list of questions in advance.
A short list of questions help set the agenda and show that you’ve done your
homework. Sending your questions in advance makes the most of a short meeting.

9. Ask questions.
Your goal in a face to face meeting is to establish a relationship. Use your time in a
personal interview to learn about the other person. How did they get to where they are
today? What mistakes have they made? What do they cherish or regret? Once you
understand the other person, and they believe you are sincere and dedicated to their
industry, and perhaps following in their same path, they are more likely to see you as a
younger version of themselves and are more likely to want to help.

10. Give something unexpected in return.
What can you give in return? Does the entrepreneur have a favorite charity where you
can volunteer? Is there some other way you can give them an unexpected gift? Will
you at least pledge to help someone like yourself in the future? Being willing to give
of yourself without being asked is a sign of maturity and character.

Busy entrepreneurs make up to several million dollars each year. That means an hour
of his or her time is worth a thousand dollars or so, and a marginal hour of time is
worth much more. At an MBA salary, an hour of your time is worth $50 or so,
meaning that you should be willing to volunteer ten hours of your time in return for a
half hour meeting. Sound too expensive? Then you really don’t need the meeting.

11. Be nice to the gatekeepers too.
Remember, executive assistants run most companies. They can be your most valuable
source of information about a company or an entrepreneur. See them as a resource, not
a barrier.

12. Follow up
Always, always, always write a handwritten thank you note. Let the entrepreneur
know how their advice or recommendation helped. Show them your gratitude by
offering something unexpected.

Summary
Entrepreneurs are busy. Every moment of their time already is committed. People who
use social contrivances or relationships to gain access for meaningless meetings take time away from more important tasks.

If you want to learn about an industry, read books or surf the internet for information.
Interview line personnel who have more time and can give you a perspective on what
working in an industry at an entry level is like. Save face to face meetings with
entrepreneurs for that rare moment when there is something specific they can do, at a
very low cost in time and effort, that will make a big difference to your life.
Valuing time like this may seem crass, but the economics are revealing.

Above all, remember that it’s not about you. People will help you if they sense that you
are on an important mission to help others and have the character and drive to make a
difference. You can demonstrate this by doing your homework up front, and always
putting yourself in the shoes of the other person.

The Master of Art in Management program is designed specifically for liberal arts majors only. The MA degree program is a 10 month intense study of the basic functional areas of business. After graduation and working for approximately two years, all MA graduates are eligible to apply to Wake Forest as part of the MA/MBA joint degree program and get the MBA in one year. The new Dean, Steve Reinemund, has created a new scholarship for diverse students pursuing the MA degree called the Corporate Fellowship.


The Corporate Fellowship provides full tuition and a $21,000 stipend to cover living expenses. Additionally, each Corporate Fellow will participate in a practicum. The practicum has two components, educational and professional development. Each student will be assigned a mentor that is a high level executive with their sponsor corporation. The mentor will oversee an educational project covering 4 of the functional areas of business using their own corporation as the subject. The student will visit the corporation 3 - 4 times during the program to present his/her results of their research project. Additionally, the "professional development" component of the fellowship provides career coaching and leadership development for the students.

The goal for the corporation is to be able to groom and hopefully, hire a top candidate from a diverse background for their organization. Of course, there is no obligation that the students accept any offer of employment. Still, the student benefits, even if they are not ultimately hired by their sponsor corporation in that they have the MA degree and the type of experience that will make them more marketable.

Contact Debra Jessup at 336.399.5403 or debra.jessup@mba.wfu.edu.

By PHYLLIS KORKKI

Q. You are getting ready to apply for a job electronically, and your résumé is ready to go. Do you need to prepare a cover letter? Are they necessary in this day and age?

A. Cover letters are still necessary, and in a competitive market they can give you a serious edge if they are written and presented effectively.

Cover letters are a graceful way to introduce yourself, to convey your personality and to impress a hiring manager with your experience and your writing skills, said Katy Piotrowski, an author of career books and a career counselor based in Fort Collins, Colo. You can also tailor them to a specific company in ways that you cannot with a résumé.

Ms. Piotrowski recently had a job opening at her small company, Career Solutions Group, and she was dismayed when about a quarter of the 200 applicants did not send cover letters. Most were within five years of graduating from college, she said, reflecting a more informal mind-set among younger people.

Q. How should your cover letter be organized, how long should it be, and what should it say?

A. First, do your best to find the decision maker’s name, and use it in the salutation. If you are applying to a blind ad, say “Dear Sir or Madam” or “To the Hiring Manager.” Ms. Piotrowski said she received cover letters that had no salutation at all or began with “Hey there” — not a strong start. If you want to be on the safe side, use a colon after the salutation, although some people now feel it is permissible to use a comma in an e-mail message.

Your cover letter should be short — generally no longer than three or four paragraphs, said Debra Wheatman, a career expert at Vault, a jobs Web site.

In your first paragraph, explain why you are writing — it may be that you are answering an ad, that you were referred to the company through networking, or that you learned that the company is expanding, said Wendy S. Enelow, author of “Cover Letter Magic” and a professional résumé writer in Virginia.

In the middle paragraphs, explain why you are good candidate, and show that you are knowledgeable about the company. Then convey a clear story about your career, and highlight specific past achievements. This can either be done as a narrative or in bullet points, Ms. Enelow said.

You can also highlight qualities you possess that may not fit the confines of a résumé, Ms. Wheatman said.

She once worked in human resources at Martha Stewart Living, and recalls reviewing applications for a chef in a test kitchen. One woman had a career in manufacturing, but her cover letter described how she had grown up in a family that was passionate about cooking and where she had frequently made meals from scratch. The woman got the job despite her peripheral work experience.

Finish your letter by indicating that you will follow up in the near future (and make good on that promise). Sign off with a “Sincerely,” “Cordially,” “Thank you for your consideration” or similar closer, followed by your name and, if you like, your e-mail address.

Q. Where should your cover letter appear, in an e-mail or in an attachment?

A. You can include your letter in the actual text of your e-mail message or place it above your résumé in an attachment. If you put it in a separate attachment from your résumé, you run the risk that a harried hiring manager will not click on it at all. If you place it in the text of your e-mail message, it should generally be shorter than if you use an attachment, Ms. Enelow said.

Then, if you really want to make an impression, make a hard copy of your cover letter and résumé and send it to the hiring manager by regular mail. Attach a handwritten note that says, “Second submission; I’m very interested,” Ms. Piotrowski said. “I’ve had clients double their rate of interviews simply from doing that,” she said.

Ms. Enelow calls this “double-hitting,” and says she has seen it work remarkably well. She said a senior-level client of hers got an interview and was hired because the hard copy of his cover letter and résumé reached the company president, whereas his electronic application was rejected by someone in human resources because it did not meet certain rigid criteria.

Q. What are some common mistakes in cover letters?

A. A cover letter with typos, misspellings and poor sentence structure may take you out of the running for a job. If you cannot afford to pay someone to review your cover letter and résumé, enlist a friend or a family member with good language skills to do it instead.

Another misguided thing people do is to make the cover letter all about them: “I did this, I’m looking for, I want to ... I, I, I.” Structure your letter so that it stresses the company and what you can do to help it reach its goals, Ms. Piotrowski and others said.

Another danger is including too much information — for example, very specific salary or geographic requirements, Ms. Enelow said. It is also unwise to point out that you do not meet all the criteria in the job description, she said. You can deal with that later, if you get an interview.

Hiring managers are looking for ways to exclude you as they narrow down their applications, she said. Do not give them that ammunition.

So you started preparing for the GMAT and you are wondering, “What is a good score?” While there is no simple answer to the question of what a “good score” is, here are two ways to evaluate your GMAT score and assess how much preparation you should do (or if you have taken the test already, whether you should apply with the score you have).

Personal Best Effort

Your personal best effort means that you have done all that you can do to achieve your highest possible score. Defining your best effort can be tricky, but you must consider whether you have invested all the resources at your disposal to help you achieve your score. You will have to look critically at what you have done in preparation for the GMAT and what you could have done. You have to consider what you have invested (not just financially but also mentally) in preparing for the test and whether that is all you could have invested.

The chart below shows the correlation between time invested preparing for the test and GMAT score. Over a period of 6 – 10 weeks this would mean investing no less than 10 hours per week working on the improvement of your GMAT score. Assessing whether you have given your personal best effort requires that you ask yourself, at the very least, the following questions:

1. Have I done all the homework and attended all the classes that were in the syllabus?
2. Have I taken all the practice tests that were recommended?
3. Have I evaluated my results and identified specific areas to improve?
4. Have I made my best effort to learn and implement the approaches described?
5. Have I sought out additional help (tutoring, extra classes, email or other online support)?
6. Have I allowed myself enough time to learn, digest, review, and practice the things I was taught?

If you know you did not prepare as well as you should have, then it makes sense to continue to prepare and to take the test again. However, if you know you have put in all the time, money, and mental energy you could into preparing and achieved a score that reflected your best effort, then you should put the GMAT aside and work on improving the other areas of your application.

School Range

Given that the GMAT's only purpose is to help admissions committees (adcom) evaluate candidates for admission, a “good” score can also logically be defined as the score that doesn’t eliminate you from consideration at the school you want to go to. A high score is generally thought to indicate that a candidate possesses the quantitative, analytical, and verbal skills needed for the academic rigor of typical MBA programs. Submitting a score that does not force the adcom to question whether you can handle the work at their school will demonstrate that you are serious about applying to the school and have done your due diligence on the program. When asking yourself if your GMAT score is a “good” score, you should know the range of scores for admitted students at the school you are targeting. For example, consider the table below, which contains several of the top 30 business schools in the country.If you had a GMAT score of 680 and applied to Stanford, which has a mean GMAT of 720, you would still have a "good shot" at admission, since you would fall within the range of applicants. If you were to apply to Kelley, your GMAT score would place you above the mean but would not necessarily make you a better candidate for Kelley than for Stanford. At both schools your appeal to the adcoms will be based more on your other criteria than on your GMAT since your GMAT would be in the acceptable range. Your goal should be to get a GMAT score that makes the GMAT fundamentally irrelevant in your admissions decision (which means that it does not raise questions about your ability to handle the work). If your GMAT score is within the range of the school you would like to go to, then you probably have a “good” score.

Understanding what is needed and setting realistic goals will allow you to make more informed decisions about your continued preparation for the GMAT or whether it is time to move on to the other components of your application. No matter what, you must realize that getting a good GMAT score generally requires a significant commitment of time, energy, and money. This is especially true for those who are starting significantly below the mean score of 535. You should be ready to invest all that you can in your GMAT score and business school future.