Are you struggling to clear finance/investment banking interviews and get job offers you desire? Read on the following article of how to stand different from your counterparts and give yourself some advantage over them to get a call back from investment firms, increasing the chances of you getting hired.
Getting hired in an investment bank is not a piece of cake. There is incredible competition (a bank reported 15000 applications for 150 places) that you need to deal with. There is some amount of preparation that would help you get there, which has been highlighted here.
Many students believe that they were born to be an Investment Banker because they were high scorers (A+ grades since they were born!). However, it is a myth that top grades lead to top investment banking jobs!
Please be aware that Investment Banking industry look for good execution guys who can communicate, analyze and be the face of Investment Bank. So while you are looking at Investment Banking offers, please do remember the following points –
Choose your job type
Before you start applying to investment banks, you would need to decide on what kind of a job you would want to work so that you could prepare accordingly. There are various job roles that you should decide after you have well researched on them, talk to people in similar industry. Keeping your interests and capabilities in mind you could choose one. There are various options such as research analyst, trader, asset manager, salesperson, corporate finance analyst etc. Learn more about the Investment Banking Roles
Investment Banking Coaching – Build Industry Contacts
It is very important to have good network with people in this industry. You build contacts as you get into one and spend time there. This would be for those who are fresher’s and have just passed out from college. But there are good services available there as well by developing contacts with people who have spent a summer internship working for an investment bank. Apart from Professors from industry and alumina could be of great help. Using Linkedin has also proved to be effective in many cases.
Finance Certifications and credentials
To gain competitive advantage, you must try and get some Investment Banking coaching and attend seminars. The CFA Charter is one most recognized credential in the investment banking industry. Also undertaking courses which could be value addition to your know-how would be great. edu CBA provides some great Investment Banking coaching and Investment Banking Programs online that are approved by CFA Institute and add lot of value to your resume.
You should very well aware about the major economies and their issues on a day to day basis. Apart from that a good understanding of topics such as interest rates, GDP growth, exchange rate movements, inflation, price movements which affect the market, should be well read and analyzed. You should have all related market information relating to specific business areas. This can be easily tracked reading the Bloomberg, Reuters, Financial Times, Wallstreet Journal or any of the quality newspapers.
Conceptual understanding and knowledge
Another very important criterion is that you should have enough theoretical knowledge of the area that you have decided to work on. This could get difficult as there won’t be much public information available on the same. Again for which discussion with someone from the industry or going through research reports would be beneficial. Along with the theory you will also be well aware of its practical application. Some of the key skillsets in demand for this Industry are –
Investment Banking Coaching – Resume building
Resume is the first impression you put across to your potential employer. You would get a lot of guidance on how one should build their resume. To keep it simple, make sure you prepare I according to that employer’s specific requirements in terms of skills and knowledge, provided you possess them. Highlight your achievements either during your college or any previous job experience. Everything that you have mentioned in the resume should have supporting answers when asked for during an interview. See a sample Investment Banking Resume.
Investment Banking Coaching – Interview Techniques
At an investment banking interview you would have to first clear the quantitative, verbal reasoning and logic-style tests, make sure you have practiced well for the same unless which you won’t get an opportunity to go further. You will need to be comfortable while answering questions about your personal background, teamwork, leadership, your achievements, weaknesses; strengths, etc. support your answers with real life examples. The next big question would be on why do you want to work in this chosen area? In order to answer this question mention the function you want such as Sales, trading, research etc. and also the specific business domain such as the Bonds, derivatives etc you are targeting. Provide good reasons to support the same. In order to be successful in these interviews you need to prepare really well. Lot of practice would be required which can be done through mock interviews.
The hours you invest in preparing for investment banking interviews would make a great difference to how you perform at those interviews, and finally will help you get a job at a investment bank – which will probably change your life forever. Hope this has given you a fair idea about how you could get selected in an Investment Bank and all the best for you to make a successful career in the same.
Also, you may want to go through Top 10 Investment Banking Interview Mistakes for more details
Investment Banking Coaching Infographics
Learn the juice of this article in just a single minute, Investment Banking Coaching Infographics
Here are some articles that will help you to get more detail about the Investment Banking so just go through the link.