An investment banking career involves raising equity and debt capital for companies, and is an attractive option for recent Denver university graduates or professionals with a few years of experience.
While competition for these positions can be downright ferocious and the hours daunting, the profession remains a highly-lucrative option for young professionals looking to earn high levels of income, and a burning curiosity and desire to explore this field.
But how do you get that coveted interview, and most importantly, do you have what it takes to advance your career in such a competitive, challenging, demanding and stressful environment?
Since 1979 J. Kent Staffing in Denver, Colorado has conducted many searches for its investment banking clients.
Recently, we were again engaged by one of our investment banking clients that structure, underwrite and market taxable and tax-exempt municipal securities. Our client whose foundation was established in the 1920’s is a national company with offices throughout the United States. The venerable organization with more than $54 billion of capital projects has underwritten colleges and universities, independent and public K-12 schools, single and multifamily housing, highways, airports, hospitals, public power infrastructure, stadiums, convention centers, criminal justice facilities, and government buildings.
Several years ago J. Kent conducted a Direct Hire Search for an entry-level, investment banking Sales Assistant for their Denver operation. With investment banking now in his blood, and the attainment of the licenses required, the successful Sales Assistant hired 3 years ago made a career decision to return to school and get a MBA, in order to continue to advance his career in the field of investment banking. The company was now seeking a replacement and looking to interview only the “best of the best”.
Denver investment banking recruiting and staffing targets high achievers as the requirements for the barriers to entry are very specific. Even though several years of some type of corporate experience is required, preferably in finance, typically investment banking hiring managers look for the following:
The Denver recruiting process was demanding. During the 2 month recruiting effort, J. Kent’s Direct Hire Recruiters reviewed more than 175 candidates for the position. Five were selected for the first round of interviews and 2 made it to the fourth cut. Megan, a Denver native and Cherry Creek High School Graduate, remaining calm and professional, finally received the job offer with an excellent compensation and benefit package, and bonus potential. Here is Megan’s background:
When you are a young professional you continually have to work hard to make it to the next milestone. Certification is required to become a registered Sales Assistant who can accept and process unsolicited securities trade orders placed by clients. Therefore, one of the requirements for these positions are obtaining several securities licenses.
As an investment banking firm, the company is subject to Securities & Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations. Therefore, larger securities firms, such as our investment banking client, require rigorous qualifications, insisting their Denver Sales Associates must also obtain Series 7, 52 and 63 licenses in order to perform the requirements of their position. These tests must be taken and passed within three months of hire.
Megan is a Denver Sales Associate working in the area of “major institutional bond funds” that require trading of large blocks of bonds (both buying and selling).
Sources: wikipedia.org, about.com