Cover Letters & Resumes

Cover letters and resumes are as much an art as they are a science. There is no right way to write them, but there definitely is a wrong way, and a way to move along the spectrum towards right. Remember that since human beings will read these documents, you shouldn't be surprised if one person thinks your resume is a masterpiece, while another dismisses it instantly. People look for different things, and have different assessment criteria.

Resume

A resume should be constantly evolving, and never complete, even when there is no immediate need for it. Gather feedback from people, do resume reviews, post your resume online and gauge responses -- make sure it is up to date and consciously think about how you can improve it. Rotman has many great resources for this: formal resume review sessions, daily CCC drop-in sessions, and second-years who are willing to help. To provide a geeky analogy, a resume should be like a stock price: millions of shareholders provide the supply and demand for a stock which dictates its price. In similar terms, the more people who provide feedback about your resume, the more likelihood there is that it's the most "correct" and will appeal to a random person reviewing it.

In terms of content, I will avoid the obvious in this post. Rotman has a strict template to use, which takes the guesswork out of formatting. Similarly, plenty of online resources suggest what content should be included. I want to offer a few useful tips for the general tone of a resume. These are in no particular order.

The lower section of the resume has an "Interests" section. Do not underestimate this section, especially by making it overly generic. Nobody cares if you read books or like travelling; there aren't many people who don't. Mention that you participate in sailing regattas or have started a business selling adult diapers. Anything which will differentiate you, is not related to the industry in which you wish to work, and something which shows initiative, creativity or competitive spirit. I have had entire interviews discuss only the hobbies which I include in this section. They show that a candidate is successful and motivated in all facets of life, is a well-rounded individual, and will have something interested to talk about while being at work for 16 hours a day.

The general tone of a resume should be very execution-oriented. Potential employers wish to hire candidates who will make their lives easier. They want to see that you were able to do this for a previous employer. "Saved firm $X by promoting idea Y". "Maintained relationship with client who contributed $Z of annual revenue". Try your best to quantify results without lying (exaggeration isn't necessarily bad though). As well, cater your experience, education, awards, etc., to the job at hand. If it's an investment banking role, try to focus on more deal-oriented work you have done and client relationships, versus a sales & trading role where it may be better to mention the results of your personal trading portfolio. This goes along with the idea that a resume is never "complete". Include anything which may set you apart: GPA, GMAT, awards, etc. Finally, make sure that keywords stand out. Most people will not spend more than a minute on a resume so make sure its impact is quick. Being proficient in Microsoft Office is redundant to say; rather mention that you are able to program macros while building valuation models in Excel.

Cover Letter

A cover letter needs to include all of the information online sources will tell you it should include, however, should contain a flavor of yourself. It should bring across your brand, your personality and what makes you different from other candidates. I don't believe there is one strict rule as to what a cover letter should look like, or any perfect template which works. Find what works for you.

I like short and to-the-point cover letters which cover three main points: (1) why you want to work for that particular firm, (2) an extremely brief summary of work and education (without repeating too much what is in your resume), and (3) which skills and interests you possess which make you a good candidate for the role. I like keeping my cover letters between half a page and 2/3rds of a page long, consisting of three short paragraphs which cover the above. I think that the biggest mistake a candidate can make is to create a generic cover letter template and then search-and-replace the firm name. It's a lot of work to customize every cover letter, however, recruiting is extremely competitive, and something you go through once your entire life. Create an advantage for yourself versus hundreds of other applicants by devoting a few extra hours to write specifically about what makes you a better candidate for that role, and why you are attracted to that firm. It seems like a no-brainer. I think you have to be extremely smart about how to put together the section which describes why you want to work for a particular firm. Ideally, you had spoken to somebody from that firm at an info session or a coffee meeting, and have their permission to include their name and quote them. For example "I am impressed by Firm X's efforts to expand to Latin America and take risks in areas where other firms will not. A discussion with Mr. Smith has confirmed this goal to take educated risks".

That's all for now. As always, feel free to ask questions in the comments.