Stephens Investment Banking Department offers a full array of financial services, including merger and acquisition advice, underwritings of public debt and equity securities, and placements of debt and equity securities in private markets. With a staff of more than 130 professionals, a strong capital base, and a wealth of experience and industry knowledge, Stephens provides its clients with quality strategic advice and efficient access to the capital markets. Our Investment Banking team continues to build on the Stephens family tradition of developing long-term relationships and creating a legacy of successful investment activities.
What is the organizational structure?
Nowhere are analysts a more vital part of the deal team than at Stephens and we provide our new analysts with the tools necessary for professional growth and career advancement. A flat organizational structure and small deal teams allow our analysts to work closely with senior bankers and to take on additional responsibilities based on their unique skill sets. As a result, many of our second year analysts are assigned duties which are normally reserved for associates or vice presidents at larger investment banks.
Will I be assigned to a group?
Our analysts are typically “generalists,” which means they are not assigned to one specific group. As such, they are exposed to many different types of industries, business models and financial products. Moreover, by virtue of our relationship with Stephens Capital Partners, the holding company responsible for managing and investing the Stephens’ family wealth, our analysts play a critical role in the evaluation and service of potential and existing portfolio companies, thus exposing them to the private equity arena.
What are my responsibilities?
Analysts have a broad array of responsibilities including detailed financial analysis and the preparation of custom models for various types of transactions. Analysts also play an important role in the preparation of presentation materials as well as the due diligence process. These tasks are executed alongside our veteran bankers as well as the senior management teams of our clients.
What skills will I develop?
While at Stephens, our analysts develop invaluable financial skills and business judgment. As a result, they have many choices available to them at the end of the program. Among the most popular are top MBA programs, leading private equity firms and other positions in the field of finance. More importantly, however, it is our goal to hire new analysts who we believe have potential to become senior bankers at Stephens. As such, many of our analysts are asked to stay on at Stephens in a full-time capacity at the end of the analyst program. In fact, numerous former analysts are currently senior bankers at Stephens and some occupy other senior positions across our firm including in Research, Private Client and Stephens Capital Partners.
The full-time analyst program is open to candidates with a four-year Bachelor’s degree and is ideally suited to those with a demonstrated interest or background in accounting / finance.
Strong candidates for the analyst program must have:
- Strong interpersonal skills;
- Outstanding record of academic achievement;
- High level of personal integrity and work ethic;
- Ability to work well on teams; and
- Strong verbal and written communication skills.
Stephens recruits and hires analysts annually each Fall:
- We collect resumes throughout the year and launch the recruiting process formally in August
- Select top candidates for interviews in late-August and September
- Typically complete final hiring decisions by October for positions commencing in June (currently recruiting for June 2017)
*Note: Stephens does not currently offer any investment banking summer internships.
If you meet the minimum experience criteria listed and would like additional information, please submit your resume to:
Stephens typically hires recent college or MBA graduates with professional experience and self-starter skills for research associate positions. As a research associate, you will use a variety of techniques to provide up-to-the-minute detail for company and industry specific news. Research associates work hand in hand with highly skilled senior analysts to provide quality service to institutional clients.
Research Associates employ a variety of techniques to provide value-added research to our clients including:
- Building and maintaining financial models for companies under coverage
- Writing company and industry specific research reports
- Communicating with our institutional sales force and providing information to institutional clients
- Developing relationships with senior management teams
- Using grass roots research techniques like channel checks and participating in industry trade conferences to learn more about industry trends
Ideal candidates looking to join our research team will have these qualities:
- Hard working and highly driven personalities
- Strong analytical, written and communication skills
- Mentally quick on your feet, and able to think outside the box
- Willingness to travel
- Desire to pursue the Chartered Financial Analyst (CFA) designation
- An MBA or relevant work experience
- Advanced knowledge of MS Word, Excel, and Powerpoint
How am I assigned to an industry?
Stephens places associates based on department needs, the associate's skills and knowledge of the industry, and the associate's pairing with an industry’s senior analyst.
How much travel is involved?
Traveling can vary depending on the senior analyst with which he/she is paired. Associates will travel with senior analysts on some trips to tradeshows or to meet company management. Senior analysts travel much more frequently meeting with portfolio managers and company executives and when the senior analyst is traveling, the research associate will play a larger role.
What are the hours like?
We work hard to provide our clients with a best in class service. Our daily morning sales meetings begin at 6:45 a.m. CT so that we can ensure our clients have all the information they need well before the market opens.
Will I have a good chance at becoming a senior analyst?
Stephens likes to promote within and has promoted a number of research associates to senior analyst.
The Interview Process
First round interviews consist of a set of interviews with members from different areas of our capital markets group. Interviews generally occur at our Little Rock office.
Offers are made shortly after the interview process.
During your interview, be prepared to discuss:
- Why you are interested in sell-side research
- What about Stephens culture appeals to you
- Your experience, skills, and resume
- Your strengths and weaknesses
- Your decision making abilities
- Your accomplishments and failures and what you learned from both
- How your peers would describe you
Stephens is one of the fastest growing investment banks and our Investment Banking Associate position offers a unique opportunity for ambitious professionals to play a meaningful role in our continued growth while gaining significant transaction experience. With supervision from senior bankers (Managing Directors, Senior Vice Presidents and Vice Presidents), an Associate has significant responsibility for managing M&A and capital raising deal processes.
Who is a candidate for this role?
For Investment Banking Associate roles, Stephens typically seeks recent MBA graduates or other professionals with a minimum of 2-3 years of prior investment banking experience or more than 4 years of other meaningful finance or accounting experience. In addition, candidates for this position must have:
- Excellent analytical and modeling skills
- High energy with strong interpersonal, accounting and finance skills
- Ability to perform under pressure and tight deadlines
- Commitment to working hard
- Extraordinary focus on work quality and attention to detail
- Excellent written and verbal communication skills
- Ability to learn quickly, with a particular focus on accounting rules and financial valuation methodologies
- Strong client management skills
- Demonstrated ability to work well in team environment
What are the job requirements?
Job requirements will include, among others:
- Playing key leadership roles in the transaction execution process
- Detailed financial statement modeling, extensive valuation and pricing analyses
- Creating confidential memoranda, management presentations, marketing pitches and other presentations
- Helping market and plan engagements
- Coordinating and performing business due diligence
- Performing industry research and comparable company analysis
- Supervising and developing analyst level bankers
- Building relationships and maintaining direct contact with current and prospective clients
What is the environment?
The Stephens environment is collegial, demanding and entrepreneurial. We work hard to provide our clients with a best in class service. The job can be very rewarding and we have a large number of long-tenured bankers, most of who started as Investment Banking Analysts or Associates at Stephens.
The Investment Banking Associate Program is open to candidates that meet one of the following experience criteria:
- Minimum of 2 years of prior investment banking experience;
- Advanced degree and a minimum of 3 years of meaningful finance or accounting related experience; or
- Undergraduate degree and a minimum of 5 years of meaningful finance or accounting experience
*Note: Stephens does not currently offer any investment banking summer internships.
If you do not meet the criteria listed above, please review additional opportunities at Stephens Careers.
If you meet the criteria listed above and would like additional information, please submit your resume to: