Beth Trickett
It’s not every day that the average visitor to New York City has the opportunity to descend 80 feet below street level and step inside the vault of the world’s largest gold repository. In January, 20 students, dressed in business suits, caught a glimpse of the gold before heading upstairs to meet with Vassar alums and representatives from the Federal Reserve Bank of New York. This was one of many stops during the Wall Street Immersion Program. Organized by the Career Development Office, the trip consisted of a three-day stay in the city, where they talked of hedge funds, mergers and acquisitions, private equity, trading, and wealth management, in hopes of securing summer internships with New York’s top financial firms.
Working on a tight schedule, the group visited Citigroup and Lehman Brothers the first day, where they spoke to analysts and toured the trading room floors. They also learned about hedge funds from a Vassar alum and founder of GoldenTree Asset Management. "It’s incredible that someone who’s running a multibillion-dollar hedge fund would take the time to meet with us," says Robert Babbage ’10. "Programs like this really put the school on the map in the financial world." After meeting with the firms, the students had dinner with a panel of alums, where they discussed the tricks and tips of the industry.
Among the stops on the second day were Goldman Sachs and the Federal Reserve, where students asked questions and networked with alums. "Just seeing someone smiling at their job - it’s a subtle thing, but it shows they really appreciate what they have here," observes Katy Mixter ’09, who’s interested in the way investments, politics, and environmental issues merge. "Before the trip, I had no idea about this world, and now I feel like I could actually do it. Now I have so many business cards and contacts."
During their stay, the students also got a taste of working and commuting in the city during rush hour, as they squeezed into the subway from their midtown hotel to travel down to Wall St., and heard first-hand about the ups and downs of a career in finance as alums honestly answered students’ questions about the time and pressure of the industry. "It seems like everyone works long hours," notes Arjun Agarwala ’10. "After dinner, they all went back to work. But people seem to strike a balance and carve out their own niche."
For Agarwala, who also participated in the program last year (when it was held for the first time), meeting alums was one of the high points. "You can almost see yourself in their shoes, and it’s a nice feeling to be able to recognize that there’s a concrete future after life at Vassar," he says. The students also got the insider tour of the New York Stock Exchange, Morgan Stanley, and JP Morgan Bank, where they participated in a simulated trading exercise. Later, they met alums (including the alumna who funded the trip) for a reception, where they practiced making quick introductions and networking. "This is a great experience," says Agarwala. "Unlike a job interview, it’s informal, but you’re learning so much."