Photo: Armstrong White via flickr
Bridgewater Associates just responded to the student that wrote an incensed op-ed piece about the hedge fund that ran in a Dartmouth student-run newspaper this week [via DealBreaker].A few days ago, Dartmouth undergrad Andrew Lohse wrote that the campus recruiting Wall Street partakes in makes him feel sick, especially when firms (ahem, Bridgewater) pay students for their opinions as part of a focus group.
“At a party last week, a friend told me that Bridgewater Associates paid her $100 to write a statement explaining why she didn’t participate in sophomore Summer corporate recruiting. The sheer arrogance and senselessness of this anecdote made me sick to my stomach, partly because, as planned, the exercise made her second guess her choice. But I had to admit there was a certain conceited logic to it — if this company can pay her $100 just to explain why she did not want to work for them, it’s easy to imagine how much cash she could rake in if she decided to pursue the job.”
Of course Bridgewater Associates threw in their two cents. The firm advocates “radical truth” among other principles so when it found an error in the student’s paper, Greg Jensen let it be known.
The firm did not pay students $100 to write a statement. They gave them a $100 gift card to participate in a 90-minute conversation.
To the Editor:
At Bridgewater Associates, we place a high value on accuracy and feel the need to correct even small inaccuracies so that misimpressions do not linger. In Tuesday’s paper, Andrew Lohse recounts an anecdote in which a Dartmouth student was purportedly paid $100 by Bridgewater Associates “to write a statement explaining why she didn’t participate in sophomore Summer corporate recruiting.”
That statement is inaccurate in the impression it leaves. Here is what happened:
Earlier this year, as part of our continuous efforts to improve our recruiting on college campuses, we conducted focus groups at several schools designed to solicit the opinions of upperclassmen as to how they thought about their career options. We also wanted to know if students had an accurate picture of Bridgewater and whether there were better ways for us to find high-quality talent on campus. In general, these sessions yielded a lot of insight for us.
At Dartmouth, one of our senior recruiters ran three sessions. In total, we invited 152 students to participate and 33 elected to do so. No one at the sessions was asked to write out statements; instead the sessions were 90-minute conversations among the group. We value people’s time and so as a thank you for the time devoted and the opinions shared, we gave each student a gift card worth $100.
Dartmouth has been a great source of talented people for Bridgewater, and we invite those who would like to understand us better to please take a look at our website.
That’s a long response to just say you gave them a $100 gift card.
My question is: what kind of gift card are we talking about?