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Finance and Banking

Are you hard working? Do you enjoy dealing with quantitative problems or possess strong analytical skills? If so, consider exploring careers in the finance and banking industry!
Xi Chun '16 sitting at a desk
There are many different types of positions to be found in this industry including but not limited to: Corporate Finance (Accounting and Financial Management), Insurance, and Investment Banking.

Colgate Professional Network

Colgate’s Finance and Banking Network consists of alumni and parents currently employed in the financial services industry who are committed to staying connected to the institution, other community members, and supporting Colgate’s fundraising efforts.

The ultimate goal of the network is to ensure lifelong connectedness between the institution and alumni and parents working within the financial services industry.

Finance and Banking Advisors

Headshots of Laura Hartpence and David Loveless

Questions

Call 315-228-7380 for an advising appointment.

Explore Careers

Industry areas
Corporate Finance
Corporate Finance, including accounting and financial management, involves developing, directing and reporting on a business’ financial strategy. For more job options in corporate finance see: Insurance
“Did you know that some of the hottest jobs in finance aren't on Wall Street at all? These are jobs in insurance. Insurance is a trillion dollar business that employs more than 3 million people in the United States alone. Jobs in insurance involve helping individuals and businesses manage risk to protect themselves from catastrophic losses and to anticipate potential problems. Insurance is a stable yet dynamic industry that provides a wealth of advancement and career opportunities.” – Careers-in-Insurance.com.

For more job options in insurance see:
Investment Banking
“Investment bankers act as financial intermediaries for corporations. They arrange and negotiate large financial transactions. They are employed by investment banking firms to act as advisers to client companies and to initiate moneymaking ventures for their own firms.” – Spotlight on Careers.

Investment Banking Functions
  • Investment Bankers provide advice on corporate finance and M&A to senior executives of client corporations. Are you able to synthesize large amounts of data without losing sight of the “big picture”? Maybe Investment Banking is for you!
  • Sales-people sell securities and investment ideas to portfolio managers and buy-side analysts. Are you persistent and persuasive with strong interpersonal skills? Maybe Sales is for you!
  • Traders execute trade in the market on behalf of institutional investors.Are you an instinctual risk-taker with the ability to quickly analyze and make decisions? Maybe Trading is for you!
  • Equity Research involves industry and company specific research primarily aimed at institutional investors. Are you a quantitatively driven critical thinker with strong writing skills? Maybe Equity Research is for you!
  • Operations/Business Services involves running the day-to-day business of the firm and supporting other divisions. Are you a detail-oriented problem solver with a combination of communication and technical skills? Maybe Operations is for you!
Source: Anatomy of an Investment Bank

For more job options in investment banking see:
Resources for further exploration
Career Beam:
  1. Log into CareerBeam (log in using your Colgate credentials).
  2. Go to Research Tools > Industry Reports.
  3. Search for the following industry pages:
    • Accounting Services
    • Asset Management
    • Banks & Credit Unions
    • Finance & Insurance Sector
    • Financial Planners & Investment Advisors
    • Hedge Fund Management
    • Insurance Agencies & Brokerages
    • Investment Banking
    • Investment Firms
    • Lending
    • Mortgage Banking
    • Mutual Fund Management
    • Securities Brokerage
    • Venture Capital

Prepare for Jobs and Internships

Information, tips, and strategies to help prepare you as an undergraduate.
Corporate finance-specific resources
Insurance-specific resources
Skills: Because of the diverse areas and job functions within the industry, each area carries some particular skills necessary to succeed. In general terms, all positions look for strong analytical skills, interpersonal skills and technical skills.

Actuary Exams: Need to complete and pass to become an actuary.
  • Probability Exam – (Exam P or Exam 1): Develops knowledge of probability
  • Financial Mathematics Exam (Exam FM or Exam 2): Interest theory and derivative securities
  • Models for Financial Economics Exam – (Exam MFE or Exam 3F): models, valuations, risk management
beanactuary.org - Great resource for the future actuary. Provides test information, industry information and job search tools.

Resume Advice for Insurance (for username and password, please contact Career Services).
Interviewing for Insurance (for username and password, please contact Career Services).

CaseQuestions.com- Case interviews are a way for firms to test your smarts. In order to nail the case you need to know both how to prepare and perform. CaseQuestions.com will help answer a lot of your questions and get you started (you will need to create an account using your Colgate e-mail address to view this content).
Investment banking-specific resources
Knowledge of industry news can give you a sense of the culture and make you a better interview candidate.

CareerBeam Industry Overviews include pages on latest news, critical issues, business challenges and business trends
  1. Log into CareerBeam (log in using your Colgate credentials).
  2. Go to Research Tools > Industry Reports.
  3. Search for an industry (see list in above “Explore the Field” section for ideas)
Some Finance Blogs Read the Wall Street Journal and The Economist to stay up to date on industry news!

CaseQuestions.com- Case interviews are a way for firms to test your smarts. In order to nail the case you need to know both how to prepare and perform. CaseQuestions.com will help answer a lot of your questions and get you started (you will need to create an account using your Colgate e-mail address to view this content).
Finance immersion trip
Students spend two days in New York City visiting financial service firms and banks and then have the chance to socialize and network with Colgate Alumni in the industry at a dinner.

Keep and eye out for an email in the Fall semester!
A sampling of relevant Colgate activities
A sampling of relevant Colgate coursework
  • Math 102: Introduction to Statistics
  • Econ 105: Principles of Accounting
  • Econ 332: Financial Economics
  • Econ 352: Money & Banking
  • Econ 375: Applied Econometrics
  • Econ 390: Monetary Economics

Alumni Advice

Advice from alumni who work in this industry.
Amy Steigerwald '05
Current Title and Organization:
Private Wealth Advisor, Morgan Stanley
Major at Colgate:
Political Science and German
Advanced Degrees:
MBA, Georgetown University, The McDonough School of Business
Q&A with Amy
What do you currently do?
I serve as an advisor within the Private Wealth Management group at Morgan Stanley, providing a full suite of wealth management services to approximately 25 individuals, families, foundations & endowments. The clients my team work with are successful entrepreneurs, executives and venture capitalists based mainly in Boston, New York, California, Europe & Israel. As a team, we act as a single point of contact and leverage Morgan Stanley’s expertise & global resources for all of our clients’ diverse and complex investment management needs. We adhere to a disciplined, client-focused investment process to develop and maintain our clients’ investment objectives, risk tolerance, liquidity needs and unique circumstances.

What was your first position out of Colgate and what did you do in that role?
I began my career in financial services as an Investment Analyst at BNY Mellon. In this role, I directly supported a senior portfolio manager which included responsibilities in investment management & asset allocation support, performance reporting and client relationship management.

How can students prepare themselves while at Colgate to work in your field?
Outside of the internship process, I encourage students to learn more about working in financial services and specifically within private wealth management while still on campus. Students should reach out to alumni in the industry and conduct informational interviews and/or participate in the Day in the Life program to learn more; get a better understanding of the day-to-day, the skills set required and personality types that are attracted to this role, etc. Students can also enhance and build on their education at Colgate by reading the Wall Street Journal on a daily basis, taking an accounting and/or computer science class and utilizing the resources available within the Career Services office to learn more about the industry.

What extracurricular activities, associated with your profession or not, were you involved with while at Colgate?
  • Studied abroad in Freiburg, Germany through Colgate’s German department
  • Worked at Career Services including an intern position as the Assistant to the Director
  • Volunteered at the Madison After-School Art Program
  • Member and new member educator at Kappa Kappa Gamma

Find Opportunities

Recruiting timeline
Recruiting for Investment Banking starts early (September or October), the majority of insurance recruiting takes place in the spring semester, as well as corporate finance.

Colgate recruiting events to attend:
  • CIC New York - January
  • CIC Boston - January
  • CIC D.C. - January
  • CIC LA - January
Job and internship search sites
General Job Search Sites Corporate Finance Insurance Investment Banking
Investment banking jobs are very competitive and the high demand means that most banks do not need to advertise entry-level job openings online. Most big banks recruit on-campus at top colleges and universities, but even this is highly competitive. Networking, preparation and persistence can help you get your foot in the door in this industry.

For more info see: careers-in-finance.com/ib_breakin.htm/div>

naviGATE Opportunities

Below are some opportunities that may interest you from naviGATE, Colgate's internship and job database.

More Opportunities

The Liberal Arts Career NetWORK (LACN) and Nationwide Internships Consortium (NIC) are databases of internships and entry-level jobs posted by employers interested in hiring liberal arts students.

Connect to Careers

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