Following graduation from Princeton in 2003, Hegseth joined Bear Stearns as an equity capital markets analyst and was also commissioned as a reserve infantry officer into the U.S. Army National Guard. In 2004 his unit was called to Guantánamo Bay, where he served as an infantry platoon leader. He was awarded the Army Commendation Medal. Shortly after returning from Cuba, Hegseth volunteered to serve in Baghdad and Samarra, where he held the position of infantry platoon leader and, later in Samarra, of civil–military operations officer. During his time in Iraq, he was awarded the Bronze Star Medal, Combat Infantryman Badge, and a second Army Commendation Medal.