#14 - Ryan Eagan: Banking, Balance, and Being A Transfer Student

This week I spoke with Ryan Eagan, a 2023 UVA alumni who’s now an Investment Banking Analyst at Lazard.

The Rundown:

Going into college, I didn't think finance or investment banking was the path for me. I was focused on the pre med track with aspirations to be an orthopedic surgeon (sound familiar?).

During COVID, I realized that the pre med track may not be right for me and beginning my career so late in life was not as appealing. With everything going on in the stock market at that time, as well as engaging more with news and business concepts, my interest was piqued by finance as a career path.

When I was a freshman and sophomore, Investment Banking was the kicking off point for those who wanted to be in the finance industry. Private equity, hedge funds and other finance roles are giving undergrads more opportunity now than even a few years ago. I think this allows some undergraduates to take a bit more of a personalized view to recruiting than following the IB path, which isn’t a right fit for some.

I started at UCLA, and transferred to UVA. When I was at UCLA, I was in a competitive finance club that had a lot of extremely successful undergrads. 

Through a lot of cold emailing and mentorship, I was lucky enough to get an internship at an investment bank in California my freshman year and worked there for 6 to 7 months. It was a great intro into what the role would be like full time. 

The regular recruiting timeline kicks off second year at UVA, which involves a heavy amount of networking and interview prep.

Through various experiences in finance and guidance of older students, I was lucky enough to land a full time role at Lazard in the healthcare group.

I wouldn't say so. It's more of an adjustment socially than professionally or academically.

As soon as I got to UVA, I had the experience at UCLA, knowing it would be beneficial to join certain clubs to find mentors and similarly career focused individuals. I applied to all of them, and was lucky enough to get into one.

Looking back, it wasn't as important as I may have thought. I think as long as you know what / how to study and the principles of networking, anyone has the opportunity to be placed at a top institution.

Also, the UVA network was not shy to me at all as a transfer student. If anything, it was an interesting story and demonstrated my willingness to work hard and make changes towards specific career goals. 

I like to ask people “What do you see out of yourself in this role?” 

We’re all so young, and it's fun to see how people are thinking about their jobs – some more short term others long.

I also really enjoy talking with people about things that aren't related to the job – more of who they are as a person and what drives them outside of work.

It creates a level of relationship you don’t always get in networking conversations.

One thing people misunderstand is you think you’re going to come in as an analyst and have an immediate impact. It’s a bit more gradual.

What I always say to people is be prepared to be wrong and to make mistakes – its normal. You go from a privileged position as a fourth year, being a leader in clubs and classes, to the youngest and least experienced person on the team. It can be an adjustment at first.

An entry-level role is set up so that you’re allowed to make mistakes. People review work to catch mistakes and teach you along the way. The focus should be about learning and improving as you go along.

There's so much in finance and other industries where you have to start so early and the job market is tight.

It can be really stressful, but I think it's important to find balance and enjoy the parts of college you get when you’re there.

Take a step back and remember where you are and who you’re with. Spend time with those people when you can.

👉 Got value? Share it with this link to get free stuff.
📄 1 referral = Networking Guide
👕 5 = Free T-shirt
🍻 10 = $20 Trin Gift Card

Your current referral count: {{rp_num_referrals}}
Or share your personal link with others: {{rp_refer_url_no_params}}

What’s a question you want me to ask?
What industry do you covered?
Reply with your thoughts.