Military Training a Plus for Investment Banking Jobs

Several major investment banks are actively seeking out U.S. veterans to fill particular investment banking jobs, reports Wall Street Technology.

Citi, Goldman Sachs, Credit Suisse, Bank of America and Deutsche Bank were among the firms showing up at a job fair hosted recently by the U.S. Chamber of Commerce aboard the USS Intrepid, a historic navy ship now moored in the Hudson River and used as a museum.

Both Wall Street firms and hedge funds are reportedly trying to lure former CIA and military intelligence officers who served in the Iraq and Afghanistan wars. They are in particular demand because of the new technology, research and analytical techniques they can bring to the banks’ security and risk management practices.

A former Marine Corps captain, Christopher Perkins, is now head of Citigroup’s derivatives operation in the Americas. He told Bloomberg that military personnel are being hired for the skills they develop in the military. “It’s not about charity work. It’s about making the firm better,” said Perkins, who credits his time stationed in Japan as giving him valuable budgeting, negotiation, and business skills.

The event coincided with the first ever Veterans on Wall Street (VOWS) fundraiser on June 23, 2011, also at the Intrepid Sea Air & Space Museum in New York City. The event was held to raise funds for a number of established national veterans-focused charitable organizations. More than 850 financial services, business, military and government leaders gathered to honor former military personnel and raise awareness of the value of veterans in the workforce at the inaugural event, reports Businesswire.

It’s still a long road back for many veterans. Unemployment among veterans rose to 12.1 percent in May, versus 10.6 a year ago, according to Bloomberg. And with 33,000 troops returning from Afghanistan by September, as part of President Obama’s plan to scale back war efforts, the job market will only get more crowded.

Do you have military experience and work or aspire to work in finance? What advantages does your military training bring? Add your comments below.

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