MBA JumpStart is the brainchild of John Burt, Jr., director of diversity recruiting for North America at The Boston Consulting Group, and Elton Ndoma-Ogar, diversity and inclusion manager for North America at BP, Inc. After graduating from Duke Universitys MBA program in 2003 and embarking on careers in consulting and investment banking, respectively, they were struck by how few of their colleagues were people of color. Drawing on their entrepreneurial MBA skills, they launched the first JumpStart Diversity Forum in 2004. Since then, the program has hosted over 800 diverse MBA candidates to consulting and finance careers. It has also expanded its scope to include an undergraduate forum and a series of school-specific mini MBA forums, as well as an online career center and other resources. Educating diverse business talent about these highly competitive industries before they start their MBA programs is what MBA JumpStart is all about. Every summer, this targeted forum brings more than 100 selected incoming minority and female students from top-tier business schools together with representatives of leading financial services and consulting firms (see Meet the MBA JumpStart Class of 2011 sidebar). The result is an intensive two-and-a-half-day conference designed to give the students a running start in the fall by learning what these careers involve and how to prepare for the on-campus recruiting process before it even begins. At the 2011 MBA JumpStart Diversity Forum, held this past July 14-16 at the University of Chicagos Booth School of Business, attendees had the chance to connect withand get a real-world, insiders perspective frommid- to senior-level financial

Now in its eighth year, the MBA JumpStart Diversity Forum continues to expand its mission of putting more women and minority business students on the fast track to successful careers in consulting and financial servicesby Pam Chwedyk

LEARNING FROM LEADERS: Harold Ford Jr., Managing Director at Morgan Stanley and former five-term U.S. Congressman, advises the audience on the value of relationship building during his keynote speech over dinner.

An Early Edge

Consulting Firms Accenture (lead sponsor) A.T. Kearney Booz Allen Hamilton Booz & Company The Boston Consulting Group Deloitte Ernst & Young IBM L.E.K. Consulting McKinsey & Company PwC

FinanCial serviCes Firms J.P. Morgan (lead sponsor) Morgan Stanley (lead sponsor) Bank of America Merrill Lynch Barclays Capital Citi Credit Suisse Deutsche Bank Fidelity Investments Goldman Sachs MFS Investment Management UBS Wellington Management Wells Fargo Securities

DeDiCateD to Diversity2011 MBA JUMPSTART DIvERSITY FORUM CORPORATE PARTNERS:

John T. BurT, Jr.JumpStart, Co-Founder Current Exp: Diversity at BCG Prior Exp: Consultant (Booz, Lilly),

Corporate Finance (Lilly) MBA, Fuqua- Duke University Bachelors degree, Finance, Indiana

University

ElTon ndoma-ogarJumpStart, Co-Founder Current Exp: Diversity at BP, Inc. Prior Exp: Equity Sales Trader (Morgan

Stanley), Diversity (Morgan Stanley, Bank of America Merrill Lynch), Sales (J&J, Roche)

MBA, Fuqua - Duke University Bachelors degree, Health Sciences,

Wake Forest University

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Fo r m o r e i n f o r m a t i o n a b o u t J u m p S t a r t , v i s i t w w w. m b a j u m p s t a r t . o r g o r c o n t a c t u s a t i n f o @ m b a j u m p s t a r t . c o m .

services and consulting professionals from 24 firms, representing a wide variety of business units and job functions. (See Dedicated to Diversity sidebar.) And, of course, there were plenty of recruiters, who delivered the lowdown on what MBA candidates can expect during technical interviewsand even more important, what interviewers will expect from them. Students also had the opportunity to learn from success stories of JumpStart alumni such as Bryan Lattimore, a recent Wharton MBA graduate who now enjoys a rewarding career as an associate at McKinsey & Company, one of the worlds most prestigious management consulting firms. Although he has only been with the company for a little over a year, he has already worked on projects in Korea, the United Kingdom and Bermuda. Now, Lattimore is helping the MBA JumpStart Class of 2011 learn from his experience. Three years ago, I was sitting right there where you are, he told the JumpStart 2011 class. I didnt know anything about consulting or about [what company I wanted to work for].

N o N s to p L e a r N i N gMBA JumpStart is an incredibly intense experience. The students start early and soon theyre heading off to learn the rules of engagement in what Ndoma-Ogar calls the huge war for talent in these two industries. As Burt explains, Its not enough to say, All I want to do is work for company X. To compete successfully, candidates must convey analytical skills, know the industry and be able to clearly demonstrate how they can create value for a firm.

The pace is fast and the schedule is packed. The students spend virtually the entire event in back-to-back educational and networking sessions, from early morning one-on-one informational interviews with investment bankers to interactive working luncheons and evening keynote dinners. Theres very little downtime, but the payoff is well worth it. Students come out of the forum prepared to cultivate early relationships with industry contacts, which can lead to internships or even full-time job offers. Its important to learn about both of these industries, Burt emphasized in his opening remarks, because theyre very similar in many ways and distinctly different in other ways. As the conference progressed, the students came to realize that while each field has its own jargonpitchbook, LBO and Chinese wall vs. partnering models and enterprise

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M B a J U M p s t a r t a N e a r L y e d g e

Im interested in consult-ing. MBA JumpStart gave me a much better insight into which firms I want to target, so I can be more focused and use my time more effectively during the campus recruitment

process.

Justin lewis Stern School of Business, Class of 2013

My aha! moment, was learning that you have to continue to network and brand yourself even after you get the job. Until now, I had always thought about my long-term career in terms of once

you get in there, you just do your work.

Janee Wilson Key Harvard Business School, Class of 2013

My biggest takeaway was the opportunity to learn about companies I wasnt familiar with. For example, I didnt know that Merrill Lynch does private equity business.

rocio Cardenas Ross School of Business, Class of 2013

FeeDbaCK From stuDentsBiggest takeaways from participants in the 8th Annual MBA JumpStart Diversity Forum

Fo r m o r e i n f o r m a t i o n a b o u t J u m p S t a r t , v i s i t w w w. m b a j u m p s t a r t . o r g o r c o n t a c t u s a t i n f o @ m b a j u m p s t a r t . c o m .

SOLvING PROBLEMS: Amber Salley, current consultant at Accenture (Univ. of Chicago Booth alum, JumpStart alum), advises a small group of students on how to approach business case problems. Other students went thru a similar experience with A. T. Kearney, BCG, Deloitte, and McKinsey.

performance managementthey both serve their clients by performing the function of a trusted advisor. In other words, consulting and financial services firms dont just sell products. What theyre really selling is their research, knowledge and expert recommendations about which investment to buy or how to improve business results. One of MBA JumpStarts key goals is to expose students to as many different career paths as possible, so that they are aware of all their options and are ready to begin making decisions about which roles appeal to them most. For example, would they be more comfortable making deals on a hectic trading floor or quietly crunching numbers in an investment banking office? Or as Accenture strategy consultant Tania Sanchez put it: Whats your sweet spot? Do you like working up front with clients? Or do you enjoy

working behind the scenes and being the person who comes up with the great idea for solving the clients problem? The forum also provides a supportive atmosphere where students can feel empowered to take what Burt describes as a deeper dive beyond the basics. He encouraged the 2011 attendees to probe, drill down to find out what you need to know, and make the most of this opportunity. That environment prompted many students to ask tough questions about issues like work/life balance and what investment and consulting professionals dont like about their jobs. As a result, they got a candidly realistic preview of what these careers are really like, including the downside: the long hours, the hard work, the pressure, and (in the case of consulting) the challenge of frequent travel. Yet the industry experts enthusiasm and passion for their work constantly shone through, as when one private wealth manager described his job as the best-kept secret on Wall Street. It gets less attention than trading and investment banking, but its very rewarding.

to B U y o r N ot to B U yIts one thing to simply listen to bankers and consultants talk about what they do and why they love doing it. However, MBA JumpStart takes the day in the life educational model one step further by including hands-on role-playing exercises that enable students to not just learn about these careers but actually try them on to see if theyre a good fit. For example, this years Diversity Forum featured a stock game designed to give students a

M B a J U M p s t a r t a N e a r L y e d g e

HANDS-ON LEARNING: Sara Selim (Yale School of Management) and Anjelica Kelly (Columbia GSB) work on analyzing the value of a company during the