Iowa State’s Wall Street Club, run by senior accounting and finance double majors Jack Adee and Hernan Machado, helps set underclassmen up for success in the competitive investment banking industry.
Wall Street Club is highly selective and must be taken seriously by members, due to an accelerated recruitment timeline and the level of commitment needed to be successful.
When the club was first founded a few years ago, it was created with the purpose of bringing people together and merging resources for investment banking.
“Investment banking is one of those careers that has been traditionally out of reach for people from Iowa State, just because of the effort that is required to break into it coming from a school that is perhaps not a target school for recruiters from this industry,” Machado said.
Machado and Adee have also created a detailed plan that lays out the steps toward achieving a career in investment banking for members while also connecting them with individuals who are already in the industry.
“It pairs up really talented, motivated underclassmen with upperclassmen who have been successful at breaking into investment banking,” Machado said. “It also pairs them up with an industry mentor.
Machado also said the club helps students learn how to maximize their interviewing skills and learn to present themselves in the best way possible while also creating networking opportunities with those who have already had proven success in the industry.
Candidates will go through extensive resume screening, technical screening and testing and soft skills training.
“We make sure they have the professional skills to really excel in an environment that is really high pressure and very high level,” Machado said. “So far, we’ve been seeing some really good results.”
“Essentially, this is just a program that’s really on the frontier of the Ivy School of Business that’s never really been done before,” Adee said.
Adee said the goal of the club is to have a more established pipeline toward the investment banking industry and to drive the placement of candidates into the industry.
Machado said the club’s track record so far has multiple individuals being placed in high-profile businesses such as BMO Capital Markets and Citigroup.
Upon graduation, Machado will be working with Citigroup as an investment banking analyst and Adee will be working with RSM as a valuation analyst.
“So far, it’s been working,” Machado said. “We just want to take it to the next level. We just want to keep growing.”
Because of COVID-19, Wall Street Club is currently meeting virtually once a month as a full club, with mentor/mentee meetings occurring as needed.
They are currently recruiting first semester sophomores and will begin taking freshman applicants starting Jan. 11. Those that are interested can send a resume to firstname.lastname@example.org.
Wall Street Club will also be one of the clubs featured at the virtual ClubFest event in two weeks.