Recent or soon-to-be MBA graduates hoping to gain an insider’s view of what Wall Street recruiters look for in ideal candidates are getting their wish courtesy of a recently released survey from Bloomberg Businessweek.
Some of the most valued characteristics might even surprise graduates as they seek to land jobs with some of the country’s most high powered firms.
Bloomberg’s survey focused on 1,320 recruiters as part of the publication’s 2014 MBA rankings report. The breakdown of recruiters included 212 from financial services, banking and accounting companies.
As part of the survey, recruiters were asked to list out their most desired skills in candidates.
Skills That are Valued the Most
When all was said and done, Bloomberg noted that recruiters valued four skills in highest regard. They are:
- Communication abilities, 75% of respondents ranked this as a top priority
- Analytical thinking, 60.8%
- Motivation and drive, 52.4%
- Ability to work collaboratively, 52.4%
Least Valued Skills
Bloomberg also tracked the least valued skills by finance recruiters. They are:
- A global mindset or cross-cultural fluency, only 7.5% of financial recruiters said this was an asset
- Having an entrepreneurial spirit, only 8% said this was important
- Ability to take risks and initiative, only 15.6% said this was important
Making Sense of it All
While a diminished focus on risk-taking and entrepreneurial spirt may come as a surprise to some, Bloomberg explained that Wall Street has been taking heat for having too many people with a risk-taking spirit.
As the regulatory environment continues, Scott Rostan, CEO of Training the Street, explained that financial companies want people who will follow the lead rather than pave their own roads.
In addition, many Wall Street firms have a military-style hierarchy, Rostan noted. At the top are the executives, who serve like generals and other officers, while middle managers are more like sergeants. That means incoming MBAs are seen as the enlisted rank and file, meant to follow orders well while working in collaboration with others to complete projects.
Ex-military members, Rostan explained, tend to do rather well when they go to business school and then move on to Wall Street because they understand the structure.
As for those who have a more open and creative spirit, Rostan said they don’t always fare well with larger, Wall Street, firms.
“They’re told to go left, and they want to go right,” Businessweek quoted him as saying.
