Seventeen rising seniors prepare to begin summer internships or full-time positions within Bank of America’s various campus programs, spanning across business functions including global investment banking, global operations, global technology, global research, finance management, advisor development, and sales and trading. The selections occurred during the bank’s 2020 recruitment initiatives and reflect a growing interest in ’Cane talent.
“Seventeen hires in one year is a significant development,” says Andrea Heuson, academic director of real estate programs and professor of Finance at Miami Herbert. “We appreciate the great support from Bank of America on recruiting.”
Rachel Johnson, who acted as the assistant vice president campus recruiter at Bank of America during last year’s hiring season (she has recently moved on to another role at the firm), highlights that the recruitment team has been partnering closely with the University of Miami to promote program opportunities to potential business school candidates that may grow from the experience.
“Our campus programs provide a unique entry point for students as they transition from schools/universities into the workplace,” she says. “By joining a formal program, students have a supported experience that is tailored to give them the best chance of success in the business area of their interest.”
The programs signify an important steppingstone for many Miami Herbert students who receive full-time offers upon graduation. But to attain the desirable placements, most first need to use strong student networks that often pave the way for quality opportunities. One group, Bermont Carlin Scholars, includes sophomores with high GPAs that pass a rigorous application process, which involves the submission and presentation of a report on a Wall Street corporation. Admitted students then personally visit the large financial institutions in New York City during summer trips sponsored by the Bermont Carlin Wealth Management Group, though visits currently occur virtually due to the COVID-19 pandemic.
Many Bermont Carlin scholars also join Target Canes, a second influential student group dedicated to career development. The club is comprised of juniors and seniors committed to training freshmen and sophomores for high-stakes internships such as those offered by Bank of America.
Beyond sponsorships or faculty mentorship, these groups help engage students by creating awareness among members. When the bank’s recruitment team posts internship positions through the University of Miami’s Toppel Career Center, the heads of the groups announce the openings to their members. Several former scholars or club members, including Target Canes’ three previous student presidents, work or have worked as full-time employees at the bank.
“The presence of Miami Herbert grows at Bank of America, and that only happens when the employer’s experience with existing students is a positive one,” says Mark Shapiro, assistant dean for undergraduate business career advancement and Target ’Canes faculty advisor. “We are working hard, in partnership with Toppel, to connect hiring managers with students that are well qualified and good fits for the roles that they are looking to fill.”
He points out that the increasing attention from an important banking institution attests not only to a high caliber of talent, but also to the diversity of the business school’s programs. As focus within the banking industry moves beyond the core function of finance to more technology and data-driven areas, Miami Herbert students, prepared throughout disciplines such as business technology, data analytics, and business sustainability, meet the needs.
Shapiro and Heuson envision continuing to nurture skilled students from a variety of functions. Efforts mean finding new ways to hone their abilities for the hiring process. Beginning this fall, for instance, all business school first year students will take a one-credit course on job application preparation.
The aligned outlooks between the institutions fortify the recruitment partnership as the new recruitment season gets underway.
“We are looking forward to yet another successful season hiring top talent from UM!” Johnson emphasizes.
Already, Bermont Carlin and Target ’Canes members have attended a Bank of America Zoom session to learn about potential opportunities. The students received career advice from current alumni employees, like Juan Pablo Duque, founder of Target ’Canes and today an investment banker at the firm. As recruitment continues through the fall semester for the summer of 2022, more ’Canes may set their sights on representing Miami Herbert at America’s second-largest bank.
