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In this video tutorial, the speaker emphasizes the importance of a cover letter when applying for management consulting and bulge bracket investment banking positions, highlighting that while a resume is crucial, a cover letter can evoke emotion, making it significant. The speaker introduces three key strategies used by Amanda in her successful cover letter, which helped her secure multiple job offers. Viewers are encouraged to stay until the end for a unique formatting tip. The tutorial also addresses the necessity of a good cover letter, asserting that while it doesn’t guarantee a job, a poorly written one will eliminate the chance for a first-round interview.