For many business and finance students, landing an investment banking job fresh out of university is a coveted career goal. Investment banks handle large, complex financial transactions like IPOs and mergers for corporations, governments and wealthy individuals. Working as an analyst or associate at an investment bank provides hands-on experience in high finance as well as an impressive resume builder. However, competition is incredibly fierce for limited entry-level investment banking positions. It takes proper preparation, strategic networking and interview skills to break into investment banking as a recent graduate. This article will provide tips on how university students can best position themselves for investment banking graduate jobs.
Gain relevant education and experiences during university
The first step is to mould your academic and extracurricular experiences during university to appeal to investment banks’ hiring priorities. Majoring in finance, economics, accounting or other quantitative disciplines is ideal. Students should aim for excellent grades, at least a first class or distinction if possible, as most banks have GPA cutoffs. Securing an investment banking internship in sophomore or junior year is invaluable for gaining hands-on experience and making industry connections. For internships and graduate jobs, banks look for students who held leadership roles in finance-related clubs, competed in case competitions, or took on finance-related projects. Excelling in technical skills like financial modeling, valuation, accounting and data analysis is also a must.
Attend investment banking career fairs and events
Career fairs hosted on-campus or in nearby financial hubs allow students to directly engage with investment bank recruiters and hiring managers. Come prepared with well-researched questions that show genuine interest in the firms. Networking events and info sessions are also prime opportunities to connect with bankers and learn more about their career experiences. Bankers are more likely to refer promising students they met in-person for interviews. Join finance clubs or career service programs that provide access to these recruiting activities and help prepare students.
Apply for investment banking graduate schemes
Top students are advised to apply to investment banks’ highly competitive graduate schemes, which provide analyst training and full-time job offers. Leading banks like JPMorgan, Goldman Sachs, Morgan Stanley and Credit Suisse run structured graduate programs in financial hubs like London, New York and Hong Kong. Schemes typically open applications 6-12 months in advance, so research deadlines and prepare early. Networking with alumni who previously landed these graduate jobs can provide an edge.
Leverage university alumni connections
Graduates are much more likely to get an investment banking interview when referred by an alumnus at the bank, due to perceived cultural fit. Reach out to alumni from your university working in relevant investment banking or finance roles, through university alumni associations or LinkedIn. Ask respected faculty and career center advisors if they have professional contacts who could refer you.
Perform well in investment banking interviews
The final step is acing the challenging investment banking interviews. Expect technical questions on accounting and valuation, market knowledge questions, brainteasers and behavioral questions. Interview preparation books like ‘Ace the Investment Banking Interview’ and practice through online resources like Wall Street Oasis are immensely helpful. Take the time to research the firm and customize your storytelling. With meticulous preparation and practice, university students can successfully break into investment banking as a graduate.
With strategic networking, diligent interview practice and strong technical finance skills developed through a relevant university education, top graduates can realize their goal of securing a coveted investment banking job. Gaining hands-on experience through an undergraduate internship also massively boosts candidates’ hiring prospects.