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Overview

Introduction

Guggenheim Securities provides advisory, sales and trading, research, and financing services. Recent clients include IBM, Disney, Pfizer, and Verizon. The firm's interns get a lot of responsibility, live deal experience, and experience across various industries and products. Even the most junior bankers get significant access to senior leadership and clients.

Company Stats


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Featured Rankings

Vault Banking 25...


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Major Office Locations

Chicago, IL...


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Employment Contact

Jennifer Gordon...

Firsthand Findings

 

Guggenheim Securities is looking for smart, curious, personable, team-oriented, driven, humble, confident, easy-going, down-to-earth candidates with strong critical thinking and technical skills. The firm runs a valuable internship program for students, during which interns get significant responsibility, live deal experience, and exposure to senior bankers. The generalist staffing model means interns experience various industries and products. They also have access to various intern events.

For full-time junior bankers, there are numerous career development opportunities. Senior leadership is accessible to even the most junior bankers, and in-depth client-facing opportunities are also available. In addition, the lengthy training program ...

About the Company

Guggenheim Securities is the investment banking and capital markets arm of Guggenheim Partners, which employs approximately 2,400 worldwide and is headquartered in Chicago and New York. Guggenheim Securities provides advisory, sales and trading, research, and financing services.

Recent advisory clients include Red Hat, IBM, The Walt Disney Company, Pfizer, Verizon, Thomson Reuters, Discovery Communications, Westar Energy, and Cabela’s. In the past 10 years, Guggenheim Securities has advised on more than $1 trillion worth of announced M&A transactions and over $200 billion in debt and equity financing. Guggenheim Partners also offers investment management and investment advisory services. It has more than $295 billion in assets under management as of December 2020.

Employee Reviews


  • “Guggenheim genuinely stands behind its commitments to team culture and work/life balance. This summer, I was able to take time off for a backpacking trip and I felt supported and not at all penalized for doing so. Senior bankers on our group calls actively encourage junior bankers to take time off. The worst part—which comes with the territory—is the occasional requirement to work long weeks and through weekends, but that’s totally deal-dependent and not a constant.”
  • “I work in the investment banking practice at Guggenheim so the hours can be long and difficult. However, the firm does try to keep work away from weekends as best it can/doesn’t expect people to sit at their desks just for face time. There’s a high level of quality in work product demanded by all team members, but it’s not expected for you to be at your desk until 2 a.m. just because.”
  • “The firm puts the responsibility on you to deliver your work on time, which means that as long as you’re able to produce high quality work and do it in a timely manner, nobody cares where you are. That provides the opportunity to go to the gym, plan dinners, weekends away, etc. Big difference in lifestyle sustainability.”
  • “Given smaller team dynamics, strong relationships are built across all levels of the firm. This allows people to feel comfortable in discussing schedule flexibility needed in order to balance work and personal priorities. Teams are very understanding and accommodating of needed time off.”
  • “Largely cash bonuses with minimal, reasonable clawbacks compares favorably to other firm’s structures (large percentage of company stock with vesting periods, cash with extensive clawbacks, etc.). The lower end of the bonus spectrum is higher than many firm’s top end bonus for equivalent positions.”
  • “Salary and bonus is in line with boutique Wall Street banks and is very generous. Benefits and perks are good as well, and include free meals and groceries for junior team members (even during the pandemic).”
  • “Salaries and bonuses are very competitive to other firms’ on the Street, which I’m very happy about. The kitchen is filled with free food and beverages every day including soda, seltzer, yogurt, chips, nuts, oatmeal, etc. The firm has a high 401(k) match policy, which is very impressive.”
  • “Compensation is excellent overall. Benefit offerings are generally in line with employers of our size. Other perks are somewhat modest compared with some boutiques, but the difference tends to show up in bonus checks (which is ultimately preferable).”
  • “I’ve worked at a few other banks, and Guggenheim has by far the most collaborative environment I’ve experienced in my career. The idea that ‘together we win’ permeates the firm from the senior management down to the junior levels. The firm takes a best-in-class approach to everything from training to career development to client advisory.”
  • “Senior leadership is remarkably accessible to even the most junior people. I’ve asked for guidance or pitched operational ideas, and leaders have made time to not just speak with me but also follow up about my goals or concerns. The lengthy training program really gets candidates completely prepared to start work. Seems like all the tools are there for each candidate to develop.”
  • “There are no poor aspects of Guggenheim's career development efforts. They put all tools in your hands to develop as a strong young professional, not only with your skillset but also with client relationship building. Additionally, they’re great in helping you find other opportunities beyond banking and will leverage their relationships to help you. They’re always encouraging an open discussion.”
  • “First and foremost, the experience you get as a junior banker is second to none. When I compare my day-to-day work tasks with those of my peers at other firms, it’s clear that Guggenheim puts you in position to develop and excel at the next level far better than other firms do. Access to senior team members and in-depth client-facing opportunities ensure that a junior banker is prepared for promotions far better than what I’m told from my peers.”
  • “I really like the strong gift matching program from the firm, which has allowed me to increase the impact of my charitable giving to causes that I care about. The firm has invested heavily in diverse hiring and continues to compete in a very tight market for diverse banking talent. The firm is also in the midst of a big sustainability push—recognizing that our clients will need to be focused on ESG issues to stay competitive.”
  • “We do a huge diversity push in recruiting targeting women and underrepresented minorities. They get early interview opportunities and a chance to lock down a spot with the firm much earlier in the process than the rest of the pool. The firm knows talent can come from anywhere, and it’s all about equal opportunity and access.”
  • “As a young firm, Guggenheim is still trying to get on par with the larger banks when it comes to addressing diversity issues. However, there’s a concerted and comprehensive effort from senior members of the firm to attract diverse talent to Guggenheim, with a variety of initiatives being put in place and partnerships being made with external organizations like Management Leadership for Tomorrow (signed to commence partnership beginning in 2021).”
  • “Our CSR efforts are extremely robust and include participation from our C-suite management. It’s so integral into our culture that there are multiple sessions committed to it during the training programs. As far as gender, we’ve made momentous strides in recent years and are proud of how far we’ve come in having more female representation on our floors and in our incoming classes. But we won't stop there—there’s always more to do and we’re committed to always doing more and better in this arena. Our veterans efforts are strong as well, especially among our associate hires, and we’re making a more concerted effort to even further boost those numbers. We recently launched both an LGBTQ+ and a race and ethnicity working group to better identify key external partnership opportunities and additional campuses to consider as we look to continue our focus here.”
  • “One of the best, if not the best, positioned firm on Wall Street. Balance mix of leading advisory capabilities with restructuring and capital markets expertise positions us to continue to serve existing and win new clients.”
  • “I like that Guggenheim is a privately owned bank. It makes me feel safe that the firm doesn’t have to lay anyone off to keep a certain EPS for public investors, or watch its stock price move up or down when quarterly earnings are released. People feel confident because of this. Something else that gives me confidence in our business outlook is the long-lasting relationships we have with our clients and the nimble, entrepreneurial culture that positions us as a thought partner to our clients rather than just a bank.”
  • “Really good momentum in the ECM business with more and more engagements as a lead bookrunner. Recently launched middle market M&A business based out of Chicago has seen tremendous early success and is growing extremely fast.”
  • “Guggenheim’s structure insulates it from the cyclical nature of different industries and products. Because of its large restructuring practice, even during macro-level down cycles the firm is well-positioned. Within each industry, there are similar micro-level down cycles. And because of our large restructuring practice, industry coverage groups can be ‘flexed’ to help on distressed situations. Conversely, the firm provides M&A and financing products, which allow it to thrive in a booming economy as well.”
  • “Incredible people, real experience, incredible focus on training, and genuine fun. Guggenheim pulled out all the stops to make the most enjoyable summer experience possible in this industry and integrated our intern class so well—both among ourselves and the rest of the firm­­—through social events, competitions, etc. Some days you work long hours and you might be on-call all hours of the day, but Guggenheim did everything right in my opinion.”
  • “As a generalist, it was great to be staffed on my top-choice groups. I had client interaction at major companies even at the intern level. Very positive experience with senior managing directors, most of whom are very friendly and interested in developing juniors.”
  • “Real deal experience. Treated like a full-time analyst in many respects. Given significant responsibility and exposure to senior bankers through deal teams and other events.”
  • “Generalist staffing model enables interns to experience different industries and products, rather than be immediately pigeon-holed into a specific group prior to understanding the investment banking landscape. Strong conversion rate also encourages a collaborate, rather than competitive, culture within intern classes.”

Wellness Efforts

  • “Mental health/meditation programs offered and consistently updated/marketed internally. On-site gym at HQ and it’s actually culturally accepted by the firm to take time during the workday for exercise. Company-wide weekly yoga class delivered virtually.”
  • “Taking part in 5Ks, internal weight loss competitions that require healthy weight loss processes, tracking personal runs/walks for charity, stocking selections of healthy snacks in all kitchen along with the traditional chips and cookies, holding seminars/talks regarding ergonomics in the workplace, providing ergonomic chairs as well as optional standing desks.”
  • “Consistent seminars and video series promoting firm wellness and culture. There’s a weekly 30-minute virtual yoga/relax session firmwide. Strong buy-in from firm in promoting this.”
  • “The firm is constantly offering wellness programs for employees to participate in. During Covid, the firm sent out multiple emails for employees to schedule appointments with mental health and well-being coaches, to listen in to live conversations with professionals and even offer yoga/mindfulness sessions on a weekly basis. The firm is constantly making sure that employees are taken care of.”

 

Response to Anti-Racist Protests and BLM Movement

  • “I cannot say this enough: firm leadership has consistently gotten internal messaging right around significant worldly matters concerning employees. I felt like the firm’s response to the Black Lives Matter movement was not only appropriate but also made me feel like I was working for a firm that was aligned with my own moral compass.”
  • “The CEO supportively commented on firmwide calls about Black Lives Matter and anti-racism, as well as on wealth inequality. There were also firmwide memos sent out from multiple senior leaders, and the company designated Juneteenth as a new firmwide holiday.”
  • “The firm sent out multiple emails to address these issues and make a statement in support of the protests and BLM movement. In addition, they commenced a program by which African American men and women will be hired by the firm while they are in college (I believe for an internship) and the firm will provide them with a certain amount of money toward their college education costs.”
  • “The firm has set up a diversity initiative team that will seek to implement ways to improve diversity within the firm and help build up diverse communities. Guggenheim has also held multiple seminars with guest speakers and educational series on the topic and made a direct effort to improve everyone's understanding and awareness.”

Response to Covid-19

  • “Taking absolutely no risk with the lives of the employees by allowing us to WFH until we’re sure that returning to work will be safe for us and our families. Tons of communication on every update the company makes regarding Covid policies.”
  • “They have clearly made employee health and wellness a priority and encouraged taking additional time off, provided free flu shot vouchers and a number of other programs to support employees.”
  • “Very focused on employee wellbeing. Work-from-home arrangements with clear communication no one will be forced to return to office if they’re uncomfortable. Firm continues to pay for meals even though WFH.”
  • “The firm holds banker calls every Monday on a biweekly basis and is in constant communication with all employees regarding the pandemic. They have told us they will notify all employees at least 60 days in advance before returning to the office so that everyone has enough time to get back to NYC. In addition to persistent communication, I believe the firm is keeping its employees best interest at heart by not being a first mover in rushing to go back to the office. The firm has realized that its employees are very successful working at home, and we’re waiting to see how other firms and schools handle the pandemic before going back to the office.”

Getting Hired Here


  • “For target schools, there’s a phone screen and then two rounds of interviews. The ideal candidate is a top student from a top school who demonstrates a strong desire to enter investment banking. Also, the ideal candidate is thoughtful and comes across as very polished in the interview setting.”
  • “The firm is seeking a very smart, intellectually curious, personable, and diverse individual to join the team—someone who can join Guggenheim and truly be an asset. You are first called for a phone screening and then called back for the Superday—a 30-minute financial interview in the morning and, if you move on to the second round, two behavioral-based interviews in the afternoon.”
  • “Guggenheim is looking for the best and brightest—candidates who are intelligent, intellectually curious, naturally collaborative, and creative, with strong critical thinking skills. We want candidates who want to make an impact and help us continue to build the franchise.”
  • “Interview process is thorough. Candidates often come in multiple times to meet with different people at different levels before they’re made an offer. We’re seeking team-oriented, driven, humble but confident, easy-going, down-to-earth candidates who are a good fit culturally. Ideally, candidates are ready to hit the ground running, have a great attitude, are beyond competent technically.”
  • “The firm asks the classic valuation, accounting, and behavioral questions, but tries to delve a bit deeper to see if candidates understand the material well. In the case of valuation, the firm has asked ‘How would you value x item?’ instead of asking plainly for the three or four valuation methodologies. They will give you numbers and ask that you work through them and talk through them. It’s more of a thought exercise than other interviews I had. The firm likes brainteasers as well.”
  • “First round was 30 minutes of technical questions—a combination of financial/technical questions and brainteasers. Walk me through a DCF. Walk me through an LBO. When would I use EBITDA vs revenue multiples and why? If I'm running in a race and I pass the person in second place, what place am I in? How do you calculate WACC? The second rounds are two 30-minute behavioral interviews with senior executives at the firm. These individuals are primarily behavioral. Tell me about yourself. Why should we chose you? Tell me about a time that you've lead? What would you do in a situation where you’re working late on a Friday and you have to miss your best friend's birthday, etc.? Some of these second round interviews will include technical questions, depending on the interviewer.”
  • “The firm was keen on understanding my background and personal story. It was my perception that determining cultural fit was a large component of the interview process.”
  • “Can you walk me through a DCF? What is beta? What are the drivers of an LBO? What types of companies make good LBO candidates? How do LBO investors monetize their investment? Why do you want to work at Guggenheim?”

Perks & Benefits