Recruiting Process for Financial Consultants
Both experienced and entry-level, our team of consultants are recruited not only based on their previous work experience, skill-sets, and education but also on qualities that we have found are essential in order to thrive and succeed as a consultant in the finance industry. Identifying this exceptional level of talent requires a comprehensive and in-depth recruiting process. At Wall Street Services, our process was developed from working with the top banks, private equity firms, and financial institutions for over 28 years. Here is an overview:
The first step in our recruiting process is to submit your resume online. All resumes must be submitted online in order to be reviewed by a recruiter.
Our recruiting team reviews every resume individually and we notify all new candidates on the status of their applications. With over 200 resumes per day, it sometimes takes us a while to get back to candidates on their application status. On average we will contact candidates by phone or email within 7-10 business days regarding their status and if we are able to invite them to move forward in our recruiting process.
To set the proper expectations, only 25% of total applicants on average are selected to move forward based on their resume submissions. For more tips on improving your resume, please visit our knowledge center.
The second step in our recruiting process is a phone interview. During the phone interview our recruiters will ask questions to better understand your interests, past accomplishments, and general attitude. At this stage of our recruiting process, we are looking to identify candidates who are interested in developing their career, comfortable speaking of their past experiences and accomplishments, and thoughtful in their responses.
In order to connect with as many applicants as possible during this stage, phone screens on average last about 10 minutes. We ask all candidates that participate in a phone interview to listen closely and allow us to set the tone for the conversation so that we are able to gather enough details in order to properly identify which candidates we would like to invite to our offices for the assessment phase of our recruiting process.
Of total applicants, we invite only 8% on average to visit our offices and meet with us in person. It is important to understand that we are a boutique recruiting firm and do not have the resources available to phone interview all applicants or accept walk-ins.
The third step in our recruiting process is a series of proprietary assessments. We take these assessments very seriously and they are a key factor in our decision-making process. The assessments allow us to identify applicants who possess the three main qualities we find are common among consultants who are exceedingly successful on project-based assignments – adaptable, able to follow instructions, and a positive attitude towards work.
We designed these assessments to specifically identify the three qualities listed above and determine the likelihood of success working in a consulting environment only. The assessments are not designed to measure intelligence or personalities. Read more about the development of our consultant assessments.
After candidates have taken the assessments, we will meet with them individually to discuss in more detail their interests and experiences. This is the final step in our recruiting process and the most important. An extension of the initial phone interview, the in-person interview will be the opportunity for candidates to expand on examples previously highlighted and share thoughts on how they want their career to develop. At this stage, we need to confirm our initial evaluations and ensure that candidates are proactive, goal oriented and highly accountable.
When candidates meet with their recruiter for the in-person interview, they will be notified immediately if they are selected to become a Wall Street Services consultant, the top 2% of all applicants, and what the next steps will be in terms of securing them a position with one of our current consulting project opportunities.