Written by FINVOGUE
To mark Remembrance Day, we thought it would be appropriate to highlight some of the programs available to veterans interested in transitioning into the financial services industry. We’ve worked with many veterans over the years, and we’ve always been impressed by their ability to work well under pressure, and their results-oriented approach to projects. After 9/11, one of my trading desk colleagues re-enlisted, and requested to be demoted so he could be placed on the front line in Afghanistan. Truly heroic. We believe that workforce diversity leads to better decisions and stronger organizations; here are some firms that agree.
Bank of America Merrill Lynch (BOA)
Bank of America has several initiatives and resources available to veterans seeking an opportunity to build a career at the firm. In an internship setting, the firm’s Global Banking & Markets business hosts a 10-week program for transitioning veterans. The goal of this program is to provide training and development opportunities, and successful participants are considered for full-time opportunities. For veterans looking for full-time opportunities, Bank of America has a Junior Military Officer Leadership Program. This program consists of two 1-year assignments in different roles within the firm. Applications will be accepted beginning January 2017 and close March 2017. Learn more about both programs here.
Barclays has a comprehensive set of programs supporting UK veterans. They host periodic military talent workshops to discuss career opportunities available and provide guidance on the transition from military service into the corporate workforce. Their next talent day is on March 29th, 2015 in London. Interested personnel should email Barclays to register. To get advice on how to frame your CV and prepare for interviews, Barclays hosts seminars. For more information, email their Armed Forces Transition, Employment & Resettlement (AFTER) team. Barclays also offers a Military Internship Programme for those who are still in service, but in their resettlement period. This year’s program started in July and ran for 12 weeks. Contact the AFTER team for more information on the deadlines for next year’s program or visit Barclay’s website for periodic updates.
Blackrock’s internship program was a little tough to find, but according to the Officer’s Association website (based in the UK), Blackrock offers a 6 month program for ex-service men and women, with a minimum of three years of service in the armed forces. This program allows participants to hone their professional skills and prepare for careers in the finance industry. The three divisions participating in this program are Client Businesses, Corporate, and Investments. Applications are due for the 2017 program by November 11, 2016. Apply by sending a cover letter and resume to [email protected] with the subject line “Application for 2017 Internship”.
Stephen Schwarzman, the CEO of mega asset manager Blackstone, has committed to hire 50,000 US veterans into various Blackstone portfolio companies. This initiative was developed in partnership with the White House, and aims to hire, train, and develop American veterans as they transition into a corporate environment. Learn more about the portfolio companies involved, and some of the hiring criteria here on Blackstone’s website.
Citi employs over 2,000 military-experienced personnel. They recognize that military service develops a special set of skills and builds character. Citi has a unique program to help veterans transition into leadership positions with the firm. Citi’s Military Officer Leadership Program is an 18-month program with a structured platform designed to expose participants to prescribed work assignments and a wide range of learning opportunities. These include classes, networking opportunities, and an active mentoring program.
Credit Suisse (CSFB)
Credit Suisse offers a one-day program for MBA graduates to learn more about careers in financial services. The Credit Suisse MBA Military Boot Camp walks through career paths in Investment Banking, Sales and Trading, and Private Banking. They will post info on how to apply for their 2017 program in the summer of 2017.
Goldman Sachs is a co-founder of Veterans on Wall Street, an initiative that facilitates career and business opportunities in the finance industry for former and current military personnel. Goldman Sachs also has a formal network that supports veterans within their organization. In 2012, Goldman Sachs launched their ten week Veterans Integration Program which is a paid program that provides veterans with an opportunity to explore different career paths within the firm. The deadline to apply to join their 2017 class closes on November 13, 2016, but mark your calendar to apply in the fall of 2017 for their 2018 program.
With General David Petraeus in place as Chairman of the KKR Global Institute, it’s not surprising that KKR has a deep focus on recruiting veterans into their portfolio companies, and supporting their success. KKR’s participating portfolio companies have hired over 40,000 veterans and military spouses. Learn more about KKR’s [email protected] program here.
JPMorgan Chase & Co.
JPMorgan Chase offers a 12-week internship program that is tailored to candidates with a military background. The program looks for candidates with a military background, strong analytical skills, and a results-oriented attitude. If you meet these criteria and are interested in pursuing a career in finance, this program could be a perfect fit. This JPMorgan Chase program gives veterans the opportunity to work on real projects in one of the firm’s businesses. In addition, there is an ongoing support system including training sessions, networking events, and feedback sessions. Applications for the 2017 program are not being accepted yet, but check out their website for updates and for more information on JPMorgan Chase’s military and veterans’ internship program.
Morgan Stanley knows that having encouraging workplace diversity strengthens its business. To forward their progress in increasing the diversity of their organization, the firm has implemented a special recruiting initiative targeted at attracting MBA and undergraduate student veterans. It’s a one-day program that provides an overview of the financial services industry and Morgan Stanley’s various businesses. If you’re an MBA student, apply here, or if you’re an undergraduate student, apply here.
Are we missing your company’s veteran initiatives? We’d be happy to share your firm’s efforts to support veterans, just drop us a note.