Question:
I recently was asked the following question: “I’m not really part of any business clubs. Do you think this will hurt me in the recruiting process at all?”
My Answer:
Short response: No
Long response: If you are interested in getting into finance or consulting or anything business-related, then joining a business club would be useful for several reasons:
1) Making connections: You will be able to make connections in the business club that could help you get the internship/job you want
2) Understanding the role: The work you will be doing as part of the club might be useful in understanding the role. For example, the MIT consulting club actually helps consult companies. On the other hand, a lot of business clubs do not do that, such as SBC.
3) Enhancing your resume: Being in a business club will show you are interested in business and may enhance your resume
‘Oh man’ you say. I’m not in a business club, ‘what should I do’? Well, you could try and join a business club. But let’s say that you already have a 1000 things to do or you do not get into a selective business club. Then, there are still many other ways you can get all the advantages of a business club without being in one! Here are some ways:
1) Making connections: Attend networking events! Find several companies you are interested in and attend their networking events. There, you will make useful connections.
2) Understanding the role: Sure, nothing beats experience when it comes to understanding, but you can gain some understanding of the role through your own self-studying. If you are interested in finance, read the ‘Vault Guide’. If you are interested in consulting, read the ‘Case in Point’ book. Read the news. Subscribe to Investopedia’s daily finance vocabulary emails. There are many ways to immerse yourself into a particular field without being in a club
3) Enhancing your Resume: I would say that this is the most important point. Recruiters care about all experiences if you can relate it back to the role. What do I mean? Let’s say you are in the executive team for a cooking club. Completely unrelated to business, right? Wrong. By being in the executive team, you are probably using some leadership skills, which business recruiters love! Maybe you are the treasurer for a club – perfect! You have to pay attention to detail in this role – recruiters love that too! Any experience you have in any club is just as good as being in a business club.
This long response led to the short response: no, you do not have to be in a business club to go into finance. All experience is relevant – as long as you make it relevant.