Former banker launches financial career advice Web site
For those still hoping for a career in finance, BankingorBust.com offers up some advice. (Bertrand Linet/FLICKR)
BY LESLIE PATTON – MEDILL NEWS SERVICE
When Kaine “Ken” Alozie was laid off from his job as an investment banker, he decided to use his knowledge for something different: career counseling via a financial Web site. He created the no-nonsense BankingorBust.com, which launched in October 2008 in the midst of economic chaos and financial disaster, to coach and guide those still interested in the banking industry.
The site gets anywhere from 10,000 to 40,000 unique visitors per month, according to Alozie. The people flocking to BankingorBust are primarily students, both undergraduate and graduate, and junior financial professionals, Aloze said.
The response has been “mainly positive,” Alozie said. “I get emails from people all the time saying thank you for creating this site,” he added.
The most popular sections on the site are the tutorials on valuation and the sample interview questions, Alozie said.
The sample questions are extensive, illustrating the taxing and stressful nature in which candidates are frequently tested during the interview process. For example:
- How do you calculate unlevered free cash flow?
- If I gave you $1 for 10 years or $1,000 today which one would you choose?
- How did the recent subprime crisis result in major writedowns for investment banks?
Don’t worry if you’re unsure of the correct response, Alozie provides answers on his Web site.
In addition to interview questions, BankingorBust.com offers up other resources for those looking to get into the financial sector. One area, “People You Should Know” gives banking hopefuls a study guide for acing an interview and impressing a future employer. Do you know who Leon Black is? If you’re going into banking, you should, according to Alozie.
Alozie is hopeful about the future of BankingorBust.com and wants to “focus on creating more and more products for students on a budget,” he said.
If you’re looking for more reading from Kaine, his book “How I Got Into a Top-Ten Business School,” published in 2005, serves up school admissions advice and information about the GMAT, letters of recommendation and application essays.
Alozie has worked for Lehman Brothers Holdings Inc., Marsh & McLennan Companies and P&M Corporate Finance LLC. He holds an MBA from the University of Michigan and a bachelor’s in finance from Loyola Marymount University in Los Angeles.
Tags: BankingorBust.com, finance career, interview questions, investment banking, Kaine Alozie, Loyola Marymount University, University of Michigan
