How to Get an Investment Banking Job
So, you want to break into investment banking?
In some countries, I might be legally obligated to stop you – with force, if necessary.
But if you’ve already taken the effort to search online and find this article, I won’t stop you – instead, I’ll show you exactly how to do it.
There are 6 steps to breaking into investment banking:
- Understand the Industry – You’re going to be a peon at first.
- Plan Your Strategy – Networking? Cold-calling? Business school?
- Craft Your Story – So, why do you want to do investment banking? You can’t just say “for the money” even if that’s the truth.
- Network Like a Ninja – You need to pick up the phone and talk to real people to maximize your chances – online applications are useless.
- Bankify Your Resume – Think “Gordon Gekko” rather than “clueless liberal arts major” or “geeky engineer.”
- Ace Your Interviews – Are you smart, can you do the work, and do bankers like you? You better hope so.
Now let’s jump in and see exactly what to do for each step so that you land investment banking offers.
Prerequisite: The Banker Blueprint
Remember how your economics and math classes had prerequisites?
Well, so does this article: please click here to sign up for, download, and read The Banker Blueprint right now.
This free, 37-page guide covers everything in this article but goes into more detail in certain parts and has alternate examples.
You should read both The Banker Blueprint and this entire article because they feature different examples and focus on different aspects of breaking in.
Have you downloaded and read the entire guide?
OK, good, now you may continue.
Understand the Industry
First, understand that banks are extremely rigid with their recruiting.
We’re not talking about innovative tech startups where anyone who can kick ass and take names is welcome: we’re talking about conservative, traditional organizations that stick to what has worked for the past 20-30 years.
Banks have a strong preference for undergraduates and business school students at the top universities: think Wharton, Harvard, LSE, Oxford, and so on.
It is significantly more difficult to break in if you are already working or you’re not at a top school.
Why?
Banks assume that if you’re already working full-time, you would never sacrifice your social life and sanity to start working 100 hours a week – they want students who don’t know any better.
They also assume that if you’re not at a top university or business school, you may not be smart enough or hard-working enough to do banking.
Furthermore, banks have developed relationships with all the top schools worldwide and already do very well recruiting just at those institutions – so they don’t see a real need to go beyond that.
The statement above are not my own views – I’m just cutting out the politically correct BS and telling you how banks think about their recruiting.
Entry Points
Next, realize that there are 2 entry-level positions in investment banking: Analysts and Associates.
Analysts are recruited straight out of undergraduate or Master’s programs, or sometimes come in after 1-2 years of full-time work elsewhere. They are like the peons in Warcraft: they are at the bottom of the food chain and do all the work.
If you start out as an Analyst, most of the time you leave after 2-3 years and go into another field like private equity, hedge funds, or venture capital.
Associates either get recruited out of top MBA programs or are promoted directly from the Analyst pool. They manage Analysts, work more directly with clients and senior bankers (Vice Presidents and Managing Directors), and put out fires.
Associates are expected to stay in banking for the long-term – moving to private equity, hedge funds, and venture capital is significantly more difficult.
Plan Your Strategy
So, which of these 2 entry points – Analyst or Associate positions – should you aim for, and how do you get in?
Let’s break it down by level:
Undergraduates
This one’s easy: get an investment banking internship any way you can.
If you’re at a top school, you’ll go through on-campus recruiting and also network with alumni, family, professors, student groups, and so on.
If you’re not at a top school, you’ll need to be much more aggressive with networking and cold-call dozens of small, local banks.
Then, after you get this banking internship, go through the same recruiting / networking process and leverage your experience into full-time interviews and offers for Analyst positions.
Recent Graduates (< 3 Years of Full-Time Work Experience)
Once you’ve graduated, your options are more limited: you either network your butt off or you wait until you have 3 years of full-time experience and apply to top business schools (as in MBA program – not Master’s programs).
Cold-calling will not work as well because you have more experience.
Spend 6 months networking with alumni, professional referrals, organizations like the CFA Society, and anyone else you can find and focus on boutique banks – if you don’t see any results after 6 months of exhaustive effort, apply to top business schools.
Experienced Graduates (>3 Years of Full-Time Work Experience)
Apply to top business schools – you’re too experienced for Analyst positions, so you need to re-brand yourself and go for Associate positions instead.
MBA Students
At this stage, networking is even more important than at the undergraduate level because everyone else is doing it too.
If you’re at a top school you can still use on-campus recruiting, but you need to begin contacting alumni 6-9 months in advance of business school, setting up informational interviews and doing everything else you can to break in and land Associate positions.
Beyond the MBA-Level / Over 10-15 Years of Full-Time Work Experience
The ship has sailed – you’re not going to become an Analyst or Associate with 10-15 years of work experience.
Either consider a different industry that’s more open to capable, experienced candidates (e.g. prop trading firms) or advance to the C-level executive / Partner level and then move into finance as an Operating Partner.
Craft Your Story
Once you’ve decided whether or not you can break into investment banking and what position you’re going to aim for, you need to craft your story.
Your “story” comes in 2 forms:
- A 1-2 minute explanation in interviews that answers the “Walk me through your resume / CV” or “Tell me about yourself” questions.
- An abbreviated, 2-3 sentence version that you use when networking or cold-calling.
Your story needs to convince bankers that you will excel in investment banking and that you are much better for the job than anyone else.
You do that by structuring your story around 5 points:
- The “Beginning”
- Your Finance “Spark”
- Your Growing Interest
- Why You’re Here Today
- Your Future
Here’s what you could say for each of these points:
The “Beginning”
You were born in New York but moved to London when you were younger and attended university there, initially planning to major in English literature.
Your Finance “Spark”
When you were studying abroad in Paris, you met a few friends who owned their own M&A advisory and real estate brokerage firm, which got you very interested in exploring finance.
Your Growing Interest
When you returned to London, you joined the student investment club and also switched to a double-major in finance and economics.
You then interned at HSBC in their M&A group last summer.
Why You’re Here Today
Although you had a great experience at HSBC, you want to apply your knowledge of finance and M&A to much larger companies and work on more cross-border transactions.
With your experience in the US, UK, and France, you’re well-equipped to work on deals involving companies in any of those countries.
Your Future
In the long-term you want to specialize in cross-border M&A deals, and especially anything involving real estate – all going back to your initial “spark.” You see this bank as the best way to gain the skills you need to do that.
Abbreviated Version
When networking, you would cut the outline above down to 2-3 sentences and say that you’re a finance/economics major from [University Name], you worked in HSBC M&A, you have experience in the US, UK, and France, and you’re interested in specializing in cross-border M&A deals involving those countries.
More “Story” Examples
You should now have an idea of how to structure your story.
For more examples, please click right here to download The Banker Blueprint.
Also, please watch this video tutorial on How to Tell Your Story in 5 Simple Steps.
Network Like a Ninja
So now you’ve figured out whether you can get into investment banking, the best way to break in, and what you’re going to say when you meet bankers.
Now you need to network like a ninja to land interviews and offers at banks.
There are 2 methods of networking: developing relationships and cold-calling.
If you have 6-12 months before recruiting begins – it starts in August-September for full-time positions and December-January for summer internships – you should focus on developing relationships via informational interviews, weekend trips, information sessions, and more.
There are dozens of tutorials on this site covering all types of networking, so I’m not going to repeat everything here – please see this article for the high-level overview:
And then click on “Recruiting” link right here and go to the Networking category to get everything else.
If you’re in a rush and you’re an undergraduate or recent graduate, you will need to do a lot of cold-calling – find small, local banks, call and ask how to get an Analyst position there, and rinse, wash, and repeat until you succeed.
Again, I am not going to repeat everything here because networking is covered from A to Z in The Banker Blueprint and in the “Recruiting” section of the site.
Instead, I’m just going to answer the most common questions I get on the topic:
Where Can You Find Names and Contact Information?
Start with your alumni database and searches on LinkedIn – go for people with similar backgrounds (schools, interests, geographies, companies, etc.).
Contact student groups, professional organizations like the CFA Society, talk to professors, family, family friends, friends of friends, and leave no stone unturned in your search.
Get access to Bloomberg or Capital IQ or Factset and use those to look up bankers’ contact information directly and call them.
For names and information on 10,000+ banks, PE firms, and hedge funds, click here to sign up for The Investment Banking Networking Toolkit.
What Should You Say When You Start Networking?
If you’re cold-calling, state your name and what school/company you’re at and ask how best to secure an Analyst / Associate position at the firm.
The other person will probably object or say, “We’re not hiring,” in which case you respond by saying, “So are you in charge of recruiting?” and not giving up until they put you through to a banker or the head HR person.
When contacting alumni or people you find on LinkedIn and emailing them, send a 5-sentence email to introduce yourself and propose a specific time to speak for 10 minutes.
See the informational interview guide for what to do after that.
How Persistent Should You Be?
More than you think. Never, ever, ever give up after getting just 1 rejection – always check back even after being rejected multiple times.
Put responsive people higher on your priority list, but never give up entirely unless someone has not responded after 10-20 attempts.
You don’t want to do anything crazy like show up to the office with a chainsaw and flamethrower and demand to speak to the Managing Director, but emails and calls are fine.
Where Can You Learn More About Networking?
That seems like a lot but it actually just skims the surface – for even more intensive training, click here to sign up for The Investment Banking Networking Toolkit.
You’ll get the names of 10,000+ banks, PE firms, and hedge funds as well as dozens of scripts, email templates, and tutorials on everything I mentioned above.
Bankify Your Resume
So now you have your story straight, you’re out networking and working the phones like a ninja, and you’re meeting bankers left and right.
When you meet those bankers, you’ll need a resume (also known as a CV for European / Australian readers).
Please ignore all the “generic” resume templates you see online – they are completely inappropriate for investment banking.
Investment banking and finance have very different standards for resumes – if you act like you’re applying for a marketing position or a non-profit, you’ll get rejected in 2 seconds.
Copy and Paste These Resume Templates
Once again, I’ve done all the work for you: just choose from the resume and cover letter templates below, copy them, and fill in your own information:
- University Student Investment Banking Resume Template
- Investment Banking Resume Template When You Have No Real Work Experience
- MBA-Level / Associate Investment Banking Resume Template
- Investment Banker Applying to PE / Hedge Funds Resume Template
- Investment Banking Cover Letter Template
The Secret About These Templates
Since I introduced these templates, they’ve became the standard in the finance industry – just go to a school like Wharton and try to find someone who is not using one of the resume templates above.
Of course, you can change around the fonts, font sizes, margins, and so on – but if you do not use one of those templates, you might look out-of-place next to everyone else.
So it’s in your best interest to use them and adapt as you see fit.
Bankifying Your Resume: Examples
So now you’ve got the templates and you’ve started filling in your own education and work experience entries – let’s go into this in more detail and see how to bankify your experience.
“I’ve been getting a lot of tips on how to write it, mostly from my staff. They really seem to be up on this stuff. They tell me I have to use the active voice for the resume. You know, things like “Commanded U.S. Armed Forces,” “Ordered air strikes,” “Served three terms as President.” Everybody embellishes a little.”
-President Bill Clinton, White House Correspondents Dinner, April 29, 2000
And that’s exactly what you should do: embellish a little.
Craft your resume to emphasize working with financials and numbers and leading rather than following. Here are a few examples of resume makeovers:
Engineer:
Software Development Intern, Cell Phone Company
- Developed cell phone applications for collecting demographic and user/revenue data in team of 3 and investigated new web technologies. Presented findings to CEO.
That doesn’t exactly scream finance, now does it?
It screams “tech nerd” to me – here’s how we’d apply a makeover to this entry:
Technology Consultant, Cell Phone Company
- Recommended development budget of $100,000 to CEO based on analysis of ROI on similar projects in the past.
- Worked in team of 3 to design applications for analyzing demographic data; optimized revenue per user for mobile software and made recommendations that led to 20% higher RPU.
This made-over version is better for 3 reasons:
- The Title – “Technology Consultant” sounds more related to finance than “Software Development Intern,” which sounds more like a shorts-and-t-shirt job.
- Recommendations and Analysis – You recommended specific numbers here and analyzed the financial returns of previous projects – just like what you do in real finance.
- Results – At the end you have a tangible, monetary result: a 20% higher revenue-per-user number.
This example is a bit of a stretch because you might not have done everything I’ve listed above – maybe you didn’t achieve specific results, or maybe you didn’t make a budget recommendation.
That’s fine – just try to spin your title and emphasize any recommendations and analysis you did complete.
You do need to be careful with changing around your title, especially if you had an “official” one during your internship/job – check with your former boss first to make sure it’s OK.
Research Background
With a science or research background, do not try to be Mr. Wizard – the worst thing you can do is write tons of technical jargon that no one understands.
Instead, focus on the business / economics / financial aspect of what you did and how it affects the real world.
Here’s an example:
Research Assistant, Cleantech Group
- Worked directly with Professor X to perform data collection and analysis of cleantech industries, including ethanol, solar cell, module and wafer manufacturers.
Ok, so he learned a lot about… solar cells.
That’s nice, but no one would care unless he happened to be interviewing for an alternative energy investment banking group.
Here’s the makeover:
Research Assistant, Cleantech Group
- Gathered data on US ethanol industry and analyzed performance of specific ethanol companies and market; reviewed firm management, history, financial performance and value of IP and technology assets.
- Performed data collection on solar cell manufacturing companies and analyzed financial performance and production methodologies.
- Tracked individual companies and determined which ones to research based on financial metrics and fundamental analysis.
You could argue that this person didn’t do some of the things listed there / that I’ve embellished the truth too much.
It doesn’t matter as long as you can back up what’s written there.
Unless you’re writing about something that bankers know a lot about – like accounting or financial modeling – you won’t get into trouble because they won’t know enough to test you.
You need to learn how to spin if you want to succeed in investment banking.
There is a limit to this – you can’t lie or make outright ridiculous claims (e.g. “Made $25 million for company by winning clients!”), but you can use the strategies in this article on how to spin your way to success.
Ace Your Interviews
So now you’ve networked like crazy, you have a killer resume/CV, and you have dozens of interviews lined up at banks – how do you seal the deal and land offers?
As with networking, there are dozens of articles and tutorials on this topic on the site so I’m not going to repeat all of that here.
Download The Banker Blueprint and read everything there, and then read everything under Recruiting here.
I’m going to take a different approach in this tutorial and focus on the 3 most important traits you need to demonstrate to investment bankers:
- You can burn the midnight oil.
- You won’t shake the jello.
- You want to be Gordon Gekko.
Here’s how to demonstrate all 3:
Burn the Midnight Oil
“Alright, I’ll do it. But do me one last favor, will you. Can you give me two hours? That’s all I ask man, just two hours to sleep before tomorrow. I suspect it’s going to be a very difficult day.”
-Raoul Duke, “Fear And Loathing In Las Vegas” (1998)
You’re not going to get those 2 hours of sleep, and especially not if you ask for them like that.
You must convince your interviewers that not only do you not need any sleep at all, but also that you would never ask for any.
You need specific stories of when you’ve burned the midnight oil in the past.
When I was interviewing, I talked about how I worked 100-hour weeks at IBM one summer when I led a product team there, and how I lived in the office toward the end.
Here are example stories you could use in interviews to prove that you can work 24/7 and don’t care about having a social life or interests outside of work:
- Startups or starting your own company: What could possibly be more work? Not even banking.
- Taking leadership of a large project that required several months to complete: Carnivals, sports events, international science fairs, mud wrestling matches, it could be anything as long as you can articulate how much you worked and how you always felt like you were dying.
- Working 2-3 jobs at once and having to multi-task repeatedly: This lets you hit the “multi-tasking” theme and the “working a lot” theme.
Don’t just say that you studied a lot during your week of final exams – that’s too short a period to prove anything.
Come up with something where you were very stressed out over at least a few weeks, and if necessary, embellish to get your point across.
Work-life balance is view as less necessary than oxygen and food in investment banking: unless you’re willing to sacrifice everything to break in, forget about it.
Don’t Shake the Jello
“To succeed as an analyst…. DON’T SCREW UP!”
-Anonymous VP, Bulge Bracket Investment Banking Training
As a junior investment banker, your most important duty is checking numbers and not making mistakes.
Whether it’s setting up meetings, responding to emails, sending out documents, or valuing companies, screwing up will screw you over far more than over-delivering will help you.
Ideally, you were an open heart surgeon or astronaut in a previous life and you can talk about how making a mistake there would have resulted in death or explosions.
But I’ll assume that you haven’t done either of those – so instead, you should talk about how you did something that involved real, paying customers or something that was read or seen by lots of people.
Wide exposure implies that you must have had your act together – essential for banking.
Here’s an example story:
“I ran a web site about getting into college and answered common questions that students and parents had.
It started off slowly but after awhile we built up an audience of 1,000 readers per day. As editor, I spent hours checking all the material we had for the tiniest of mistakes and errors before making anything public.
There’s nothing that damages your credibility as much as careless mistakes – parents especially notice them.
Early on I published an article with a few glaring mistakes and received a pile of email from readers pointing this out.
From then on I made sure to triple-check everything, paste it into Word and print it out and re-check it multiple times and ask friends to look it over before posting anything.
With such a wide readership I can’t afford to make mistakes and now I require all my writers to check everything before I even look at their work.”
This is perfect because:
- You admit that you made a big mistake once but learned from it and are now meticulous (hits on the weakness/improvement theme and the attention to detail theme).
- Shows your leadership because you were in charge of writers and gained an audience of 1,000 readers per day (bankers love specific numbers).
Make a list of every single organization you’ve been in and every project you’ve worked on over the past 3-4 years – pick the best example that demonstrates your attention to detail and go with it.
And when you’re picking your 2-3 mini-stories, make sure at least 1 of them demonstrates that as well.
You Want to Be Gordon Gekko
“I am not a destroyer of companies. I am a liberator of them! The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind.”
-Gordon Gekko, “Wall Street” (1987)
Repeat after me: greed is good.
If you are not interested in business, finance, and the economy, why the hell are you wasting my time in this interview?
You don’t need to have actually bought and liquidated companies like Gordon here, but you better have a market, industry, or stock you’re very passionate about.
Example dialog with the interviewer:
Interviewer: “Tell me about an industry or market you’re interested in.”
You: “I really enjoy following the alternative energy industry because it’s up-and-coming and no one knows how things will play out yet.
Within the industry, there has been a lot of activity in the solar cell manufacturer sector, driven by technological breakthroughs that make solar cells cost-effective as well as government subsidies in Germany and Japan and major budget commitments by the Chinese government.”
Interviewer: “So were there any alternative energy companies that you personally invested in? There’s been a lot of IPO activity lately, right?”
You: “Yes, there have been a lot of IPOs lately… but I think most of them were overvalued and riding on hype alone.
After looking at the landscape, I personally invested in ABC Solar a year ago.
I compared their financial performance to the competition, and found that despite growing revenue at 50%, on-par with others, and having 10% profit margins, also on-par with the industry as a whole, they were trading at a discount to the competition.
Their P/E was only 30x rather than the 40-50X that others had and their EBITDA multiples were 30% lower than their competitors as well. It seemed like a bargain.”
Interviewer: “Interesting… but there must have been a reason why they were less highly valued than the competition.”
You: “I did some research into that… the main reason was that they came in below earnings expectations in the quarter just before I invested, and announced expansion plans for new facilities at the same time.
Investors balked and questioned why they were spending more on CapEx and product development if their earnings were already below expectations.”
Interviewer: “A valid question. So why did you not see this as a serious weakness?”
You: “I did some research on growth vs. profitability for solar cell manufacturers, and I found a much stronger correlation between returns and revenue growth than between returns and earnings or cash flow.
Investors were focusing on short-term results instead of thinking long-term – but it’s a nascent, early-stage industry, so growth matters more than profitability at this point.”
You don’t need to have 5,000 pages of financial analysis to give an answer like this: you just need to do a few hours of research and read up on the industry.
At the very least, learn something about the financial metrics of the company or stock you’re picking – and please, do not say something common like Apple/Google/Facebook.
But What About the Technical Questions?
I’m glad you asked – first, click here to read the investment banking interview superday guide – that covers all the categories and types of questions you need to know.
There’s also coverage of what to expect in interviews outside the US and case studies / assessment centers there.
More In-Depth Interview Training
To master investment banking interviews and land offers, click here to sign up for the investment banking interview guide.
There are over 400 “fit” and technical questions there, as well as “story” templates, sample interviews, deal discussions, and more.
It’s the single most comprehensive guide out there – sometimes I think there’s almost too much material.
In addition to the interview guide, you should sign up for the Excel & Fundamentals Modeling Course to learn accounting, valuation, and financial modeling from the ground up.
There are lots of other modeling courses available on Breaking Into Wall Street – our sister site – as well.
Click here and enter your name and email address to get free modeling tutorials and a sneak peek at everything else available on the site.
There’s something for everyone there – whether you’re completely new, you’re more advanced, or you’re looking for industry-specific knowledge.
Broken In Yet?
OK, so this was a long and in-depth guide – but it’s also the most popular article on this site, so it must be working.
Go re-read everything above, take notes, and then take action and start working the phones, networking, and landing interviews and offers.
When you’re done, come back here, leave a comment, and let us know how many offers you got and which bank you’ll be working at.
Break Into Investment Banking
Free Access to Exclusive Content for Members Only!
Sign up for The Banker Blueprint today and enjoy:
- Free Report: 37-page guide with the action plan you need to break into investment banking – how to tell your story, network, craft a winning resume, and dominate your interviews.
- Exclusive emailed bonus material.
- Free Banker Blueprint newsletter with more in-depth advice.
- Unlimited access to all articles, videos, and advice – and free updates whenever new content is added to the site.
I have a Master of Science degree in Electrical Engineering from University of Minnesota(top 25 in US in my degree program). I have been working as a Software Engineer for last 6 years. So I don’t have experience in Finance. I think I am pretty good in mathematics, analytical and logical reasoning. Lately I have been fascinated by IB. I have been thinking about going for an MBA degree and pursuing IB field. But is it realistically too late for me as I am already 32 now? I know there is always hope. But realistically is there a decent odd? I would appreciate if you can be brutally honest with your assessment and what I need to do in order to even have a remote chance.
http://www.mergersandinquisitions.com/age-investment-banking/
Brian,
I need some advice – I had an interview today for a BB full time analyst position in NY.
One of the questions was “Where else are you interviewing?” and I answered with “I haven’t really started all of my applications yet blah blah”
However, I managed to get 2 interviews at other BBs but was rejected last week, I’m panicking big time now in fear that the bank I was at today will find out and reject me?
How likely is it they will find out and if they do will I be rejected? I didn’t want to disclose being rejected and not in demand so I didn’t say about the previous interviews.
Thanks
Unlikely unless you mentioned specific names, otherwise they won’t take the time to call around.
Hi Brian,
Thanks for the reply – I mean, did I even do anything wrong? She asked where else I was interviewing and I said I haven’t really applied elsewhere yet.
Did I lie seeing as I am currently not interviewing anywhere else?
Am I overthinking this?
Yeah you did. It might not be a bad idea for people to know that you are interviewing elsewhere (as long as its in a respectable industry/company) ; this means you have options
But the fact that my interviews are over and I was rejected, does that mean I should have answered with “Yes” and explained? As technically I’m not interviewing anywhere else? Or am I just trying to find a loophole!
What should I do going forward, should I wait and see what happens?
Thank you very much for the help
There’s no should have would haves re your first question. Its the past so focus on the present
Going fwd, continue to network w bankers and land interviews. Keep at it
Hi Brian,
I was wondering what you thougt my chances of breaking into investment banking or equities sales, trading and research are.
I graduated in 2010 from a top five economics program and worked a full time construction project management and sales. I also bought a house while in school and to pay for this I worked a weekend server job. The university I went to didn’t offer night classes. Needles to say I missed a lot of classes and graduated with a 2.5 gpa.
I recently quit my job and took an internship at an I Bank in the research department. The team I was on loved me and tried to get me in research but due to recent financial times the company didn’t give any new offers in any of their divisions.
Hi Brian,I’m currently a high school senior, I know it may seem weird to have my heart set on investment banking so early but I love money and IB supposedly is where to find it. I didn’t get into any top notch schools, I was differed by University of Michigan but got into Indiana University. I know Kelly school of business is relatively good, so my question is, is it worth it to go out of state and take out loans to pay for a mediocre school? I read your one of your other articles about how to get into Investment banking without going to a top school, so combined with the strategies you talked about there, and going to a mediocre school do you think I have a good chance of breaking in? Also, let’s say everything goes as planned and I get a job at a investment banking firm like JP Morgan or something of the sort, what are the chances of climbing up to ladder and getting a position like VP or a Managing Director position. How long could I expect myself to be in the industry before getting the opportunity to pursue such a position?
Regards,
Alexander
Forgot to add in my question, would I need to go further than a major in Finance to rise to a higher position in Investment banking or, once you’re in investment banking you go up depending on your work?
I would not do that. Michigan is fine for IB recruiting though not sure how strong it is outside the business school. For major and hierarchy: please do a search for both terms on the site and you’ll get an estimate of the years and degrees required.
Hi Brian,
I was wondering what you thought my chances of breaking into investment banking or equities sales, trading and research are.
I graduated in 2010 from a top five economics program and worked full time in construction project management and sales while going to school. I also bought a house while in school and to pay for this I worked a weekend server job. The university I went to didn’t offer night classes. Needless to say I missed a lot of classes and graduated with a 2.5 GPA.
I recently quit my job and took an internship at an I Bank in the research department. The team I was on loved me and tried to get me in research but due to recent financial times the company didn’t give any new offers in any of their divisions.
I’ve been cold calling banks all over the country and have had little to no success with setting up interviews. I get the same response almost every time, “We aren’t actually no hiring right now.” Do you know what I’m doing wrong? Or what I can do right?
Regards,
Unkeet
It’s tough to get hired with a GPA in that range and not as much relevant experience as other people – I would focus on really tiny banks and/or consider going back to school for a Master’s program at a top school.
Hi Brian,
Do all I-banks care about GPA? From your personal experience do some banks not check GPA? Also what if my overall goal is to go into Equity or Fixed Income sales, do you think I would have a shot of in a firms research department being a CFA level II candidate?
Thank you
You need to have a certain GPA to pass the resume cutoff round. Most interviewers use GPA as one of the measures to eliminate candidates. CFA lvl 2 would help since the knowledge you gain from the exam wld help though you still need to market your other aspects (i.e. passion for markets, interpersonal relationship/sales skills etc)
Ignore my 1st post I wrote it on my tablet and accidentally sent it prematurely.
Hi Brian,
My background is Economics/Political Science. I am an international student, attended a good (not top) liberal arts school in the US, and spent a year working for a prominent lobbying company. Currently, I am back home in Europe. I have a very strong resume and good quantitative skills.
What would you recommend given that it is a really tough market even for experienced hires? Is it worth it to try and break in?
Thank you for the advice – the website has excellent advice applicable beyond the world of finance!
Yes there are always hiring needs even in a tough market. Go out network and do your homework!
Hi brian.
I graduated in law 1 year ago ( in Italy) with a honour degree, and now I’m doing a master in Financial Law in one of the top 3 English University.
I’m attending a course in Financial risk and I’ll write my final dissertation on it.
Do you think I have a chance to get a place as an analyst in an Investment Bank ?
I was aldo thinking about doing a PHD in Financial Risk as soon as my master finishs and try again next year….
what do you think??
Raffaele
Depends on how you pitch your story, present yourself and whether you have had financial internship experiences or not.
Not sure if you need a PHD to break into a bank. Just network and land yourself an internship/job
ok I thought a PHD in Financial Risk would have been a good way to get into an Investment Bank………
My working experience are so far connected to the legal sector…I graduated last October anyway so I’m reall just out of the uni
Yes but a PHD doesn’t guarantee you a job at an IB. I’d suggest you to network intensively with bankers and try to get your foot in the door
Im a ivy league african studies major, economics minor graduate with 5 years experience managing a non-profit who brings public and private sector leaders together to discuss private capital flows and investment in sub-sahara africa. Im passionate about investment advisory in sub-sahara africa because there is tremendous growth and opportunity there, and i have a lot of relationships with people in finance and other industries there. What are the inroads for me into ibanking (power broking, private equity)? I can start business school next year. Short term, I can take parttime courses and/or internship, then start b-school next fall.
Long term, I want to be a leading advisory banker in the sub-saharan africa region , your advice is much appreciated!
Just try to land yourself an internship w a bank (preferably in IB) in your area. I’d also try to work in Africa for a bit when you can either during breaks in bschool or before given your LT goal.
Hi Brian,
what would you suggest to anyone wanting to open someday his own Hedge Fund?What’s the path the best hedge fund managers generally do?What about the figure of Peter Lynch when he worked at Fidelity?He was a Research Consultant but what is that,he seemed to not have to ask anybody permission of doing huge investments and,at least in his books,he seems enthusiastic when he speaks about his profession…so could you be a big investor and having good time too?
IB with all these work-hours and a relatively good pay(after taxes)eventually is not so attractive..is it?
Thanks
Have you checked out Ray Dalio’s principles. http://www.bwater.com/Uploads/FileManager/Principles/Bridgewater-Associates-Ray-Dalio-Principles.pdf While it doesn’t directly address your questions, I thought you might find them interesting
Yes. I think most of these successful investors are very passionate about what they do.
Regarding your last question, it depends on your priorities, circumstances and your interests. I can’t answer for you
Still reading..it’s more than 100 pgs =) and not found the masked advice for the Hedge Fund path yet…but plesant reading so thank you in any case
Hi Brian/Nicole,
I need a bit of advice – I have accepted and signed for a Summer Internship at a mid tier BB but recently I have been speaking with a top BB (MS/GS/JPM) and they said I can have an accelerated interview.
Now I’m concerned if I go for this interview, will I be doing anything wrong? If HR at my existing bank find out will they cancel my internship?
Please advise!
Rgds,
O
Difficult to say. I think I would still interview and see if how it goes. If you get the job at the BB then you’ll have to think about the whole situation. There is a risk that HR will find out but not likely
Hi,
I’m and undergraduate student studying management at the university of Nottingham (you can say its a “non-target” university. I interned at J.P. Morgan last summer in the Asia client coverage team in Mumbai(back office). During my internship I met some front end bankers from the UK office. Long story short.. Ive applied for the London IB internship now (front end). I just received an email saying i’ve made it to the assessment center.(the final stage) Im copy pasting my schedule.
Our interview day consist of a networking lunch, role play, group discussion and two competency based interviews. You may also be asked to take part in a numercial test so please bring a calculator.
Any tips/advice? Also would it be possible to talk to you on the phone just for five minutes? my email id is rustom75@live.com Thank you so much for your help your website was very useful for getting my last internship.
Tips/advice – know why you want IB. Be yourself & humanize your story. Pitch your story right. Make sure you aren’t too intense/stressed out so that interviewers like you. Re talking on the phone, we offer coaching services. Pls check out link below. Unfortunately, it wld not be fair our customers if we were to offer you a free 5 min phone session. Feel free to ask us questions by posting comments
http://www.mergersandinquisitions.com/resume-editing-and-coaching/
Where do you suggest I go and research the financial metrics of a company?
http://www.edgar-online.com/DataDocuments/SECFilings.aspx
Details SEC filings, annual reports etc
I’m currently trying to ‘break in’ and have an interesting background. Ivy league graduate ’07, with a degree in Philosophy. Post-college, I began a career as a Professional Poker Player. I’ve achieved a high level of personal and financial success, but now have a 3-year work experience gap in my resume. I have an extremely high aptitude in quantitative and analytical problem solving, and feel that I bring a unique skillset to the table. Basically, I’ve been managing my own 6 figure portfolio for the past 3 years, which I dont think too many entry-level applicants can say. I also have a solid understanding of the markets and began investing through my own account approximately 6 months ago. So, Ivy degree in Philosophy, no real work experience, and no specific background in finance. But, I know Im qualified, especially for an entry-level position. Thoughts, comments, advice on breaking in?? Or is it business school time? Thanks.
Nice. Why would you want to break into IB w your background? Haha, I think your background sounds fun enough already!
If I were you, I’d only go back to school if I want to experience the bschool “experience” , acquire knowledge and possibly build contacts. A top tier bschool might help you retool yourself but I don’t know if you should go back to school merely w the intention of landing yourself an IB job because this is a big risk–a. you might not necessarily like IB b. most IBs do prefer MBA students w banking experience
If you have a passion for the markets & are good at assessing risk/return, I’d suggest you to look at trading roles. I’d network extensively and try to work for a fund, start your own fund…and yes getting into IB w your background now will be tough, and I don’t think its worthwhile for you to do so either
I am graduating at Berkeley as a interdisciplinary developmental studies and minor in East Asian Studies of China. I have a close friend who is already working in ib; it maybe possible for him to get me a job interview in Hong Kong. However, I don’t have much Econ and Finance background. Should I consider to get a CPA or/and CFA before applying?
http://www.mergersandinquisitions.com/cfa-investment-banking/
Hello,
I had a few questions I was really hoping you could help answer.
I recently graduated with a Computer Science degree (8 months), and am currently working in a QA role in a large tech company. I realized that is not what I want to do, so was looking to switch to Consulting (deloitte, ibm, accenture, etc), and while researching that, came across a lot of contract arguments between consulting and IB.
Can one go from Computer Science into Investment banking? if so, what would be the process? Also, can you switch from Technology Consulting into IB ? To be honest, money is a huge concern, and I keep reading Investment bankers on average manke 30-50% more than their Consultant counter parts.
Any help or advice would be greatly appreciated.
Yes. Process = network, land interviews, interview. Lateral hiring in banks are all year round.
Im an ACCA UK finalist, 20, living in a basement near Toronto. Im curious ( want to know) as to learning how to network and penetrate into investment banking. CANADA
http://www.mergersandinquisitions.com/networking-investment-banking-jobs/
Hi,
I am a recent graduate in Electrical Engineering at University of Toronto and I was ranked top 10 in my program. Prior to my graduation, I have no experience at all. I managed to get a summer internship at a hedge fund, and a 4 month IB internship at a small boutique bank starting Jan. After the winter internship, I really want to get a FT position in a big bank in Toronto. What should my approach be aside from networking in this bear market?
Have you been applying to FT roles? Your experience is good. I’d say hone up on your interviewing and modelling skills just in case you land interviews. However, your key task right now is to network as much as you can and land yourself interviews! I don’t know what else to tell you!
Hello, I attend a non-target university and I am majoring in Mathematics. I’ve been to a BB networking event recently and they say that they do hire non-business majors. The event was 95% business majors and economics majors. My question is: how would a non-business major answer the technical questions that are asked during the interview?
Learn modelling – you can check out our BIWS website! Take finance/accounting classes. They should help!
Learn Modeling. If you are in the UK then try trainers like Alphafts. I trained with these lot and landed a job because my resume has “Financial Modeling” on it.
Hi,
I have a querry actually i have done my graduation from mumbai and done my masters in finance and its not a TOP university and i have around 2 yrs of experience and i look forward of being an investment banker can u please guide me as how shoud i go for it
Hey Brian,
My names Alex and I am interested in IB. I have not began anything as of right now because my life is in a cross roads. I attended a jc for three years playing baseball, my second year (transfer year) i tore my labrum a death sentence in the sport. I tried a comeback this year because i was told it was worth it for who i was before the injury.
Now im over it, it is time for me to move on. I have great grades and can get into pretty much any UC I want. I have really wanted to go to UCSD but they dont have a major for business. I was thinking of majoring poli sci and minoring in business? would I be able to get intern jobs with that specific mix? also with that mix will I be able to gain acceptance to a top tier MBA school? If not what undergrad schools can you recommend for a jc transfer student with good grades?
Your major doesn’t matter as much as having the relevant financial internship experience.
If you can get into any UC you want, try UC Berkeley’s Haas.
Getting into a top tier MBA requires solid/unique work experience, strong references, essays etc – can’t really comment on that since I don’t think you’re at that stage yet
ok thank you very much Nicole. Once I get into whatever uc I decide on going to I should just follow the sites advice and pray right? lol.
Both work!
Hi, Im 15 years old (time to think about a job to apply to) I wanted to ask if investment banking is a nice work to do? Im quiet interested in bank stuff but my friends keep suggesting me other work to do…I wanted to know your opinion:) and also if there is other work in a bank which brings enough salary but doesnt take so much time, thanks and sorry for my bad english and childish questions
I think you are worrying too much. Focus on having fun and doing things you want to do first.
Hi, my name is Carl and I’m very interested in IB and hedge funds. I live in Canada and Problem is, I can’t afford to attend an Ivy league school because of a limited budget so I’m kept to canadian schools. Which canadian university would be the best if I want to go into IB? Thanks,
McGill is a good one. http://www.mergersandinquisitions.com/investment-banking-canada/
Thanks, and I also wanted to know if it was better to do an MBA with concentrations in finance or an Ms in Finance to increase chances of finding a good job, thank you.
Depends on what type of job you are looking for. I think an MBA gives you more opportunities
Hello!
I am a first year student at St. Johns University studying Finance. I have a 3.87 GPA and I am a bank teller at a local bank. IB has caught my attention and I am very interested in breaking into the IB field. How would somebody like me, not attending a top tier university, get into a firm like Morgan Stanley for an Analyst position in 4 years?
http://www.mergersandinquisitions.com/non-target-bulge-bracket-investment-banking-offers/
Hi
UK based question – graduated from a UK target school in a non-finance degree. Recently took up a position at a large accountcy firm studying the ACA qualification is it better to complete ACA as try move into banking? Or instead study a MSc Finance at a target UK school, forgoing the ACA, and try getting into banking.
Looking for positions in equity research/investment management
MSc Finance at target UK school is better
I have on and off work experience as a Stockbroker, totaling about one and a half years. I began that job at the age of twenty without any college education. I simply got licensed with the Series 7 and 63. Now that I’ve gotten a stronger passion for finance and economics, I’m interested in the Investment Banker role and am attending community college. How should I structure myself for the future in order to land a job as an Associate? Also any advice on how to get into a MBA program at an Ivy Leave school?
Try to get an internship in finance…network a lot and get yourself out there
MBA program – have v interesting experiences; can’t really guide you here because we specialize in teaching people how to break into banking…
I don’t come from a privileged family, but since high school have had a strong interest in finance and broke into the industry as a Stockbroker by networking and finally being sponsored by a boutique firm. Now that I’m financially able to attend college I’m doing well there. Although I’m starting out at a community college, my GPA is 3.9 and I do have the option to transfer to an Ivy League to finish a B.S. Would that be a better way to break into a BB firm, because of the recruiting at the schools? If I choose to transfer into a top school, should I still do summer internships? Also, even though I have work experience in finance, it’s on the sales/asset management side. Does this hurt or help me? At the very least, I have experience with 100 hour work weeks.
I do have the option to transfer to an Ivy League to finish a B.S. Would that be a better way to break into a BB firm, because of the recruiting at the schools?
- Yes
If I choose to transfer into a top school, should I still do summer internships? – Yes
Also, even though I have work experience in finance, it’s on the sales/asset management side. Does this hurt or help me? – It can help you for sales/AM related roles. If you want an IB role, I’d suggest you to gain some IB experience and know how to spin your skills learned in sales/AM to IB
Hello
Dear Nicole
Sorry to bother you but I wonder if you could help me or give some recommendations concerning investment banking breakthrough
Firstly I already wrote to Brian and got your advice to leave a comment and just took a break to rethink all I already read here
So I am quite impressed by the comprehensive and incredibly detailed materials here It is irreversibly amazing and fascinating job you do and your team Than you very much
Secondary
Concerning my story I try to describe as concise and succinct as I can
I worked for some companies predominantly in back office about 6 years in Russia
After that I entered the MSc program in Management and Business and got 2 Masters from UK and Poland
During my studies I became increasingly interested in M&A and Private Equity and IB industries I have met some amazing guys who already got their first experience and I was hooked I’d say
My viewpoint after I ve read the most important articles here and I believe there are more ahead
that recommendations mainly are designed to help young under or graduated people
So I feel that my case is extremely difficult as Brian wrote here that it is impossible to transfer from back office to front desk as I’d like to do and trying now to get network through alumni FB LinkedIn and so forth and looking for internship
So let’s say I am 33 MSc Management and Business and with experience only in back office and
I am afraid that I already answered that my case is hopeless because of age and wrong decision I made earlier and you may say forget pal and relax go and play smt else but never IB and M&A
Please could be so kind and clarify some doubts
Do I have a chance in regards of my determination and self education and eagerness to get into that industry
I would like to hear from you soon
I will appreciate any invaluable comments
Thank you in advance
and Regards
Alexander
I wouldn’t say it’s hopeless especially if you go somewhere like Eastern Europe where the industry isn’t as developed… can get in more easily via networking. If that doesn’t work, get a business or corporate development-type job at a normal company and then use that to work on the operational side in PE.
Hello
Dear Nicole
I’d like to clarify myself more clear to avoid any biases in my case
I am 33 yo I am Russian and non EU resident
I speak Polish and English fluently
Now I am in Poland and looking for internship here in Warsaw but I started to think about relocation to China for example as market is burgeoning there and maybe try to find internship
in Asia region
Kindly regards
Alexander
China is not a great idea (do a search for “China private equity” on the site to see why). Other parts of Asia, maybe. In your case, Eastern Europe would be ideal – if you do a search for “Eastern Europe” you’ll see a few interviews with tips there.
Dear Nicole
Thank you very much for your help and support
But I still wonder about my opportunities
So according to your vision of my situation
I suppose that I should not apply for M&A and P&E
graduate or entry level positions as I am doing
and concentrate on smth else close to middle office but not front desk?
I recently worked for Citibank as Analyst in AML field for 5 months but now I’d like to enter more quantitative and demanding area as M&A
Kindly regards,
Alexander
I don’t think you should not not apply for M&A and PE. You can apply to whichever division/job you see fit. What I meant was it might be an easier transition, and quite frankly, easier goal to achieve, if you were to apply for roles in middle office.
First off, excellent website. Very informative read as I’ve been interested in IB for quite some time.
Here’s my situation. I’m 26 and recently applied and was accepted to an MBA program (specifically, Shidler College of Business). I know this is not a top tier MBA program, however, they offered me a full scholarship. I’ve been working for 2.5 years full time as a commercial credit analyst for a local bank in Hawaii, and will make 3 years once I start my MBA. By the time I finish my MBA, I will be 28 and have 3 years of experience in commercial banking. What are my chances of breaking in IB as an analyst or associate?
Your help is much appreciated!
Thank you for your support! If you don’t have experience in IB/background in a target school, it can be challenging to break into IB. I’d suggest you to try gaining some sort of experience in the industry
Hello,
First off, fantastic site. Really informative!
I would just like to hear your opinion on what my next step should be in breaking into IB!
I am in my penultimate year studying a BSc in Business at a target UK university. I wasn’t able to secure an IB Summer internship but scrambled with networking and was able to land 2 hedge fund internships for the upcoming Summer, one in London, the other in Shanghai. Not as ideal as an IB internship would’ve been, but as I understand, it’s not a bad alternative.
The problem is I will be entering my final year with a GPA slightly below the general requirement for IB and I’m worried this will seriously hinder my chances. Having said this, I am confident I can bump up my GPA by graduation. Should I reapply for a final year Summer internship next year (is this even possible?)or just go for the full time job? How badly do you think disclosing my current GPA will hurt my chances?
Thanks, and I appreciate any comment!
I think you should just go for a FT role. If your GPA is lower than required, whether you apply for a summer internship/FT job doesn’t make much difference.
Depends on the firm but you may not be able to make the resume cut-off.
Thanks Nicole,
Let’s say I don’t manage to get a FT offer, what should my next step be? (bearing in mind I am not applying for a Masters)Reapply the following year? How should I best spend that year to maximise my chances?
Really appreciate it!
Try a FT offer at a boutique/2nd/3rd tier bank!
Hi Brian,
Excellent work on the site!
I’m a law graduate and have run my own investment banking introductions making firm for 2 years now. Heavily connected with capital and deal flow sources globally. Active contact base runs into the thousands, trans continental. Haven’t worked a job ever though and neither do I have an MBA. Would you think I stand a chance? The markets are tough at the moment and a job would be a pleasant change from the constant chaos that’s been my live for about half a decade now. Would you think a mid-large sized Investment Bank would look at me? If only for the network and the cross cultural experience? I also own a portal that helps small/mid cap companies raise capital.
Maybe, if you have a rolodex of clients and can help the bank generate business. Markets are tough so you’ll have to demonstrate your value, knowledge the industry and deal process, and your ability to hit the ground running
Hey Nicole, i recently got accepted into a top tier university in commerce, majoring in finance. To maximise my chances of landing a summer intern or any intern for that matter or a graduate position at a bulge bracket bank, will working at normal banks, boutique banks be beneficial? And by the way, is there an estimation of a ratio of people getting accepted to a highly paid IB job compared to who try getting in?
Thanks, Adam.
Gaining IB experience will be beneficial.
Ratio – perhaps less than 10%
HiBrian,
I have in banking industry with a nationalised bank in India ( general banking maanagement ) for the last 6 years ( joined in 2006).I want to go for IB. Should I go for CFA as I am already 28 now & by the time I complete I would be 32. Will it be right decision for me??
Pls refer to http://www.mergersandinquisitions.com/cfa-investment-banking/
I have been looking down the FA path after 15 plus years as an entrepreneur in computers, restaurants and then day trading and small business consulting.
With a love of finance, a deep and varied small business background and a unique ability to sell, is the FA path a good fit for someone who finds their own niche and does thing their own way?
Having some of financial experience that demonstrates your knowledge will help
Hi
I did my MSc from LSE in Economic Development after which I worked at a think-tank, The World Bank and currently working in a Executive Search firm in the UK. I want to break into the banking world but of course I have no experience in finance what so ever.
Do you have any advice or suggestions for me????
Perhaps you can look at Economic research/strategy research roles at banks – your background might be more suitable for such roles
i,m 35 years old, currently in retail banking operations and control in Nigeria. i wish to go into investment banking abroad (uk or us). Bcos of my 2.2 grade in Bsc Econs, i’m planning to take a combination of some professinoal exams and masters to increase my chance. kindly advice me on any combination that is suitable for an IB job: CFA,CAIA,CISIM HFP, FRM, ERP, PRM,CERA,FSA(finance), ACA, CPA, AMCT, MBA, PGD – MSC FIN/ECONS
Most of those are not terribly helpful. See: http://www.mergersandinquisitions.com/degrees-certifications/
If you do anything, pick the MBA or MsC, followed by the CFA.
I want to get an investment banking summer internship at a BB before I graduate, and I have two options this summer:
1. Corporate finance job in a company here (so operational/project finance ..etc)
2. “Summer investment analyst” at a big asset management firm in India
Which one would better to position me well for an ibanking internship in new york the following summer? Thanks!
Hmm, either one works but #2 would be slightly better due to the brand name recognition.
Thank you so much for replying!
Interning at an asset management firm would give me investment and deal-type exposure whereas the corporate finance one would not.. can I spin as experience when applying next year?
.
Also Is having an investment banking internship in India that much more helpful in getting a nyc banking internship?
Should try and see if I can get that instead?
Sure.
IB Internship in India: it would help somewhat, but probably not worth turning down existing offers for it.
Hello,
I’m currently an undergrad, pursuing two degrees. Global Supply Chain/Logistics and International Business. I will receive my Economics minor as well after studying abroad in Paris next Fall. There are 3 Finance courses I take with my International Business major, and very useful Financial/Economics courses in my Economics Minor. The GSC/L degree has nothing to do with finance/accounting/economics.
I’m interested in pursuing a career path in IB, Corp. Dev., PE, or somewhere in the Finance field where I can ensure personal financial success. I have one internship with McAfee Security doing Inside Account Management, and I’m going to be doing an internship with Occidental Petroleum next Summer as a “Supply Chain Intern.” Once again, nothing to do with Finance (however, in my opinion, they are both prestigious names to go on a resume – I’m seeing a trend of required resume prestige as I discover more about the Finance field.)
I’ll look good on paper when its all said and done (not to toot my own horn, too loud). However, I don’t know if it looks good for a career in Finance.
Its too late to switch from what I’m doing now to a Finance/Accounting degree. That would be another 1 1/2 years of school, maybe 2 years. I don’t think it would be worth it.
What can I do to network/squeeze my way into a Finance position? Where’s a good place to start? If I get a part time job as a Bank teller at a Wells Fargo, or BOA, for example…would that help?
I wouldn’t bother because your specific degree doesn’t matter that much (do a search on the site). Better to learn what you can on your own, and get an internship more relevant to finance… not a bank teller, though, something like an analyst role at a small bank / wealth management / asset management firm.
Great – Thanks for your reply Brian. I love the website, its extremely helpful!
One more question – what about an undergrad in business and an MS in Finance? I’ve been looking at some MS in Finance programs, specifically at UT in Austin. Do you know much about these types of Master programs? Can it potentially lead into a solid finance job?
Thanks again!
They can help, but more so if you’re at a non-target school: http://www.mergersandinquisitions.com/investment-banking-masters-programs/
Thanks, Brian. I found a few internships in my college town related to Finance. One being a Credit Analyst intern for farm real estate, and another being a Credit Analyst at a dealership, and another for a Financial Management intern for a Hospital. Hopefully I score one for next semester – I appreciate the advice.
Good luck! Keep us posted!
Hey, I’m actually doing my 12th std and plan on doing BCom after this. How should I pursue in investment banking?
Network a lot. Get good grades and into a target school. Gain finance internship experience
Pursue my career* in investment banking.
Hi Brain,
I graduated with Computer Science and I been working at one of the Big 4 in the technology department as a junior project manager since March 2012. I want to make a switch to IB. Please advise.
Thanks,
Roy
Hmm, start networking with alumni, learn something about accounting and finance, read this site… aim for tech-focused banks and groups. Also see: http://www.mergersandinquisitions.com/investment-banking-engineer-no-finance-background/
http://www.mergersandinquisitions.com/getting-a-finance-job-from-engineering/
Hi Brian,
Firstly, great articles in your website.
I am from India and i am in fix now, I am confident i will join a Top 25 B-School in the world next year. I have quit my present job and intend to jump into an entrepreneurial pursuit. After B-School i want to join IB work for 5-6 yrs and then Start my own company.
At this juncture what parameters should i give more importance to to have a real shot at IB.
Project Value/Number of people impacted by the work/Any other factors that Bankers will like to see and hear in an entrepreneurial venture.
At present i have only gratitude in return for the help u offer.
Thanks
Dhinesh
I am not sure if IB will prepare you for starting your own company: http://www.mergersandinquisitions.com/finance-investment-banking-jobs-tradeoffs/
To break into IB, please refer to http://www.mergersandinquisitions.com/investment-banking-india/
Hello Brian,
I am a first year student at Georgia Institute of Technology and want to become an Investment Banker. I am currently majoring in Finance and Accounting, and minoring in Economics. I also have the option to study Applied Mathematics and Finance instead of the previous. What is a better combination. Georgia Tech is better known for Math and Engineering. I really want to break into IB, and have secured an internship at a well known wealth management company for my freshman year in college. What is the absolute best educational path to becoming an IB. I am planning on getting an MBA, hopefully from a top tier school and a CFA as well as series 6,7, 63, 65. I know that there are many majors that can break into IB, but coming from Tech what is your ideal major(s)/minor(s) of choice?
Thank you very much. I really appreciate it. Also, Love the site. Very informative and easy to navigate.
Best Regards,
Allen
Congratulations on your summer internship! I think majoring in Finance and Accounting will be more useful for IB roles. Applied Mathematics will be more useful for quantitative roles.
I’m in a bit of an odd boat due to some visa issues previously, and a last-minute undergraduate concentration change:
I basically have an undergrad in business/finance and now MBA from 2nd tier school, with just one year of work experience (I received during my MBA program of working in a client facing / relationship management role at a top 10 asset manager). GPA is 3.6+ at the grad level. I’ve also passed CFA Level 1.
Given the above, should I be looking for analyst or associate positions in IB?
Thanks!
If you’ve worked for the AM for over 2 years & you have an MBA/CFA you’d probably qualify as an associate. However, some banks may want you to start as an analyst given your lack of experience in IB.
Thanks for getting back me, Nicole.
I have just 1 year of work exp. at an AM firm, basically from a year long full-time “internship.”
Given what you said, I suppose I should stick to applying for analyst positions, since I don’t have the 2 years of exp. for the associate positions?
I think most MBA candidates qualify for associate levels. With the above being said, some banks would still want you to start off as an analyst because you don’t have enough experience in the industry (you’ve only had 1 year of AM experience). I’d apply for analyst roles.
Thank you!