Matt Ting is an HBA2 who worked as a Business Analyst at Silver Lake Partners, and will be starting full time at Evercore upon graduation. He is also the Co-President of the Western Investment Club (WIC). Matt represented the finance industry at our Careers in Business workshop. Our President, Carolyn Tang, got the chance to speak with Matt about his experiences and advice for aspiring bankers. Thanks Matt for speaking at Careers in Business and agreeing to do this interview.
This interview has been edited for brevity and clarity.
Carolyn: What would you say is the most important trait that's gotten you to where you are today? Can you give a story to illustrate this?
Matt: I would say that the most important trait for me is hard work. I think there's a lot of illusion over how people get to where they are, but the thing that binds everyone is the time and effort they put in.
Here’s a story to illustrate that: Recruiting at Ivey is a very stressful time. Putting the hours in then is pretty important for securing a good job. During that period, you have to juggle a lot of things: exams, reaching out to people, attending info sessions; I did a lot of extra-curriculars as well. I think if it weren't for the sheer hard-work and effort, I wouldn't really have succeeded in the fashion that I have.
Finance is arguably the most popular industry among business students. You're someone who's obviously experienced success by getting a position at Silver Lake Partners and Evercore. What advice would you give to someone who wants to follow in your footsteps? How can they set themselves apart from all the others?
Aside from the fundamental hard work, something you really need to do is reach out to people. The business community - it's big, but a lot of people are willing to help. Reach out to people in positions where you’d like to eventually be.
Here's an example for that: As people are doing recruiting and thinking about who they want to hire, they'll always try to put the familiar names first. I think that getting a mentor in particular is something that can really help you. Personally, I still keep contact with a lot of people that I met when I was in 1st and 2nd year, and I reach out to them when I need to make decisions for my career. I would say it's really important to reach out, have a strong network, and build your reputation.
How would you start building your network if you didn't know where to begin?
I think getting involved in clubs is the easiest way to do that. Naturally, the leaders in clubs are usually older students. Talking to them is a good way to start. I even think reaching out to people randomly is acceptable. People understand that the environment of business can be challenging. They recognize that they were in similar positions before. Often, they're willing to help.
Finance can be intimidating. The intense competition, long hours, and high expectations can deter some people. A new perception towards finance following the financial crisis and the rise of Silicon Valley hasn’t helped. Can you speak on this? What advice can you give students who may be intimidated?
It can be true. Finance is a pretty competitive industry. The first thing you should do is make sure that it's what you want to do. Going to workshops like Careers in Business is certainly helpful. So is talking to people in the industry. I think you definitely have to be passionate enough to make sure you can put in the hours.
With regards to advice to students who may be intimidated: It's hard to say, "Don't be intimidated," but you have to realize that everyone in this industry is a real person who goes through the same struggles as you. There's no singular path to success or a destination. Develop a thicker skin and realize that things tend to get better after you put in the hours. Build a close group of friends with similar motivations and interests. That's how you survive.
Which network has helped you persevere?
It may be obvious, but WIC has helped me a lot. Everyone there is very similar in terms of what they want to do. I've developed a lot of mentors during my time there. I’d encourage anyone reading this to do the same. It doesn't necessarily matter which club it is, as long as you can find people that you can relate to and rely on.
Your industry is well known for its incredibly tough hours and high expectations. What motivates you every day to persevere and succeed?
I think the first half of what drives me is the idea that I want to maximize my potential and experience everything I possibly can. I feel I’ve had a relatively fortunate path in terms of how I was raised and the opportunities I’ve been presented with. I want to make the most out of that, so I strive to achieve all the opportunities I’ve been given. The second half is innate competitiveness. If you harness it in the right way, your inner competitiveness can really motivate you. So for me, the idea of opportunity and competitiveness really drives me.
Would you agree that the most important lessons are learned outside the classroom?
Yes, for sure. I think it’s especially true because you can take so many electives in first and second year. Maybe “lessons” is a relatively broad word to use here, but regarding financial concepts and technical skills, I learned most of that outside the classroom at extra-curriculars. And of course, there are the more intangible lessons you'd learn from being with people and working on the job. I think that, although school provides a good platform to get to places, you don't really learn the most about things until you've actually done them yourself.