Brian Helfrich '22
I had the privilege to speak with a recent graduate, Brian Helfrich ‘22, a new analyst who’s making an enormous impact at Blackrock, the world's biggest asset manager, in their ishares ETF and Index Fund department. Brian speaks about his time at Holy Cross and what tools he used to land the role he has today. He outlines the framework for breaking into Finance and how to be a productive team member. This was a very educational conversation and I’m excited to share Brian’s story with the Holy Cross community.
Was it always your plan to study economics, or did you come to Holy Cross with different intentions?
Coming into Holy Cross I knew I wanted to work in the business realm. I declared Economics as my major during my second semester and it was something I knew I was interested in through the books I’ve read and following the markets. I liked the appeal of an Economics degree from a liberal arts college because it was something unique in comparison to traditional business school applicants. I was very set on having a job lined up after graduation and Economics was a great way to do that.
Outside of the particular courses students should take if they are interested in businesses, what classes should they take to prepare themselves?
Any class with Noel Cary in the History department, he’s a must, he provides you with an incredible understanding of the 20th century, which believe it or not when it comes to the workplace having this understanding is important. Financial accounting is pivotal and should be taken as soon as possible, it's an important skill set and language you should be able to speak. In any role in finance you’ll need to understand the financial statements and where money comes from. I think it's beneficial to take the excel lab because everything you do as an analyst is through Microsoft excel and will be one less thing you’ll need to learn when starting your career.
What advice do you have for students who are beginning the internship process, any essential tips?
Start early, I went to my first networking event during my freshman year at the college. I quickly learned preparation and getting background information is key. Sit down every Sunday for an hour, I know Sundays are busy at Holy Cross but by putting this time in I will get you ahead. Plan who you're going to reach out to during the week, what you want to discuss, and prepare questions beforehand. Keep track of who you’re reaching out to and find something to follow up on in order to cultivate the relationship. For interviews, know your elevator pitch, why finance, and why you want to work for this company cold and have it memorized. If you really want to work at a place don’t just find a headline from their website, find an emotional connection which allows you to take good ownership of your thoughts.
Follow up, how was the process of applying to Blackrock and getting accepted into such a competitive program?
I started off with a hirevue for my first round, then my second was an interview with two employees, and the super day was three thirty minute interviews with 10 minutes in between. My super day was virtual but it was during finals which made it very hectic, but knowing my information ahead of time allowed me to give a passionate appeal and be able to hit all the points I wanted. I followed the markets pretty aggressively during this time which definitely helped. Being able to speak about current events and the economy is crucial, this is something everyone can do at Holy Cross by finding like minded individuals and constantly having a dialogue. Think about how people talk about sports, it can be like that as it's a natural and relaxed discussion where everyone can have a productive debate. I can’t stress this enough, it's essential.
How was your transition to NYC, was it tricky to find roommates and find a decent place to live? (This can be a really good insight for current seniors)
I highly recommend living with a Holy Cross person, this makes everything a lot simpler and you already have that connection. In terms of finding an apartment, cast your network very widely and talk to several different brokers. Try to get on the phone because through email they can ghost you all of a sudden. You definitely want to start looking before graduation because by June it can be very hectic. It’s important to note that during this time you don’t have a salary so you’ll need a guarantor which can be a process depending on your financial situation. You're typically looking at from the start, a security deposit, first month’s rent, and a broker's fee. It's a very tiring and stressful process but it’s ok to be stressed about it all because it’ll figure itself out in the end.
What areas do you usually see Holy Cross students excel in? How well do you feel our programs and curriculums prepare us for the world of finance?
The interpersonal and collaboration skills you gain are unmatched, which comes from the small classroom setting and course work. The small class size also makes us more used to speaking up, which is something people from big schools aren't accustomed to. It prepares you in terms of flexibility, you can pivot your brain much more easily as you can go from a history class to an economics one. You do a lot to get the job you want so it really teaches you about the powers of advocating for yourself and speaking clearly. Holy Cross teaches you to have self initiative, everything we do to get these roles and jobs in finance is through ourselves. You go into every interview with the confidence that everything on your resume is through your doing.
Given the current bank frenzy and increase in inflation, how will this impact ishares investing strategy and outlook on the current economy?
The banking crisis has given Blackrock more volume because people are looking to put money in different places and in entities that have very minimal chances of defaulting. We saw a big increase in requests for our treasury and corporation short term Etfs because people saw they’re a solid alternative to having cash sit in the bank during this hectic time. These ETFs allow you to cash out on a very short term basis and at the same time have money kept somewhere that isn’t volatile and not vulnerable to exposure. I feel the media has created hysteria, we have the tools to contain these banks so they don’t go under, this isn’t even turning into 2008 and people shouldn’t worry about their assets in banks. However, they should show more concern towards inflation, even things like rent are still extraordinarily high. If the inflation rate were to go to 0 for the rest of the year, we wouldn’t get to the Fed’s 2% target until December. Which will obviously not happen, the Fed has a long way to go. We have nothing to worry about in terms of our banks, our eyes should be on the Fed.
Do you have any mentors or people whom you have looked up to your whole life?
I met one of my mentors through the Holy Cross network my freshman year, which really makes me emphasize starting early. This individual helped guide me through the job and interview process. I think it's very important to have a professional mentor to get advice and learn from their mistakes. I grew up an outsider to this industry, my mom and dad still don’t know what my job is, so I really relied on my mentors to get me where I am today.
How do you define success?
For me, doing something successful right now is taking pride in what I’m doing and owning it. This plays a role in reputation building because I strive to bring good reputational success to the institutions I represent such as my parents, school, clients, and country. I take genuine pride in helping others and benefiting financial institutions, which my role fortunately allows me to do.
How do you deal with the stress of such a demanding role?
It is different for everybody, the type of stress you’ll feel at work is a little different from school, particularly as a young person. I like to put my work phone away when I can, I also enjoy meditation. I know it might sound a little cheesy but it helps bring a lot of mental clarity. It’s important to put things into perspective and take certain scenarios into account to navigate your mindset. You just need to have the mindset you be put in many stressful situations but you’ll be able to conquer them.
What's next for you? Masters, MBA, further goals?
It's a little early in my career to think about an MBA right now, I want to work for a while and see if I want to stay in my current role or pivot to something like portfolio management or whatever it may be. If I ever get an MBA I don’t want it to be for the wrong reasons because it’s expensive. I’ll be taking my CFA level 1 in November, I think this is a great time in my life to get it done. One thing I love about Blackrock is internal mobility, the opportunity to pivot to many different roles and positions within the firm is unique and very captivating to me.
Interview Conducted by Michael D'Ambrosio
Photo of Brian Helfrich