Hiring a new analyst class may be routine for investment banks, but its importance should not be overlooked. Students that have a track record of academic success are in high demand and will have multiple offers for internships or analyst positions rolling in by the end of the semester. In such a competitive recruiting environment, hiring managers need to highlight what sets their firm apart from other investment banks in order to attract the best and the brightest.
The first step is to determine the qualities of a successful analyst at your firm. Are time management skills and dedication crucial in an analyst role at your bank? Look for students with a high GPA on top of multiple extra-curriculars like sports, clubs, or Greek life. If your firm prides itself on innovation and fresh perspective, mix it up and look for liberal arts majors that can bring new ideas to the table. Once you’ve established your candidate personas, you’ll have a better idea of how to market your company to prospective millennial employees.
The relationship between recruiting and marketing has become more pronounced over the past few years due to higher importance on company brand. This has become particularly relevant on Wall Street as firms attempt to shift their company culture to better market to the millennial generation. According to Deloitte’s 2016 Millennial survey, work-life balance, path for advancement, and flexible commuting options are the top benefits millennials are looking for in a company. Although investment banking is not known for its flexible work hours, other factors like a clear path for career advancement will work to your advantage. In your information sessions, clearly outline your analyst program and what career path analysts can take after completing it.
The goal of campus recruiting is to not only have students picture their life as an investment banking analyst, but as an analyst at your firm. Specify the types of deals your firm takes on and how your approach is different than your competitors. Maybe you have a mentorship program where analysts work directly with VP’s on certain projects. Or perhaps your firm only works on deals within a specific industry. Whatever it is that sets your firm apart, make sure you’re conveying it to students while interviewing.
Hundreds of investment banks use campus recruiting to find their next analyst class. By identifying the perfect students to target and understanding the millennial mindset, you’ll be able to create a brand story to attract the best talent for your program. If you or your team is having difficulty managing the campus recruiting process, see how OneWire’s recruiting solutions can help you better organize and track prospective talent.