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If you can’t do this, you will never be hired for a new sales job in an investment bank

We have already mentioned what you might be asked if you’re a student-type going for a sales job in an investment bank.

But what if you’re a bit more senior and have been working in sales in banking already. What then?

Then it will be a different matter. Getting hired for a more senior sales role is all about how many clients you can bring with you. If you can’t bring the clients, you won’t get hired.

“People will always be interested in the accounts you cover and how portable they are,” says Ibrahim Zaheer at Kennedy Associates.

“People will always ask which clients you think you can bring with you,” says Ted Tracey at Kinsey Allen. “As the interview process progresses, it’s not unknown for interviewers to ask sales candidates to call their clients to demonstrate the strength of the relationship.”

If you pass this hurdle, you may even be asked to provide five client references before the job offer is made totally final. The hiring bank will then call those clients and enquire whether they would be willing to do business with you under their platform.

And if your clients say no?

The job offer may be rescinded. “If salesperson’s clients are really the firm’s clients and not his/her clients, a bank won’t want to hire them,” says one headhunter. “I get loads of calls from people who want to leave Morgan Stanley and Goldman, but I’m not interested. They’re selling on the back of the franchise and need to stay where they are.”

Comments (4)

Comments
  1. Ummmm, Duh?

  2. Proves the point that most successful sales people, unless they are desperately unhappy where they are, are well advised to ignore a “better” offer and simply stay put.

  3. Not all the time. I’ve seen loads of sales hires on the expectation of a portable client base . . . . . .. .then, no clients, and one big salary . . . . .. . .then, on to the next . . . . .. same process . . . . .. .over and over . . . . .. .

  4. How does this fit with the employment contract restrictions on contacting clients where the relationship is legally with the current/ last employer and not the employee that managed the relationship? All of the risk is being taken by the employee here, as they could personally suffer financial/legal consequences if they even contact this type of client?

    Employee number 9484321 Reply
     

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