With the rise of remote work, many finance professionals are looking to break into investment banking from home. Though challenging, it is possible to land investment banking roles and successfully perform the demanding workload remotely. The keys are highlighting transferable skills, utilizing alumni networks, acing video interviews, managing client expectations, and maintaining productivity and work-life balance. With proper preparation and self-discipline, aspiring bankers can attain their dream jobs without relocating to major finance hubs.
Leverage transferable skills from previous finance experience
Most investment banks prefer candidates with some previous finance experience like corporate finance, equity research, or financial advisory. Though your background may not be a perfect match, highlight transferable skills like financial modeling, valuation, preparing presentations, and working with clients. Investment banks value work ethic, attention to detail, and problem solving abilities. With the right experience and skillset, you can position yourself as a qualified remote candidate.
Tap into alumni networks at target schools
The best way to get your foot in the door is through an internal referral. Reach out to alumni from your target schools working in investment banking to learn about openings. Attend virtual career fairs and information sessions. Network on LinkedIn and social media. Alumni are often willing to refer promising candidates from their alma mater. Though in-person networking is ideal, use email, phone and video conferences to connect.
Excel at video interviews and assessments
With remote hiring, networking will likely lead to a first round video interview. Practice interview questions and technical assessments through online resources. Set up a professional workspace with quality lighting and internet connection. Dress professionally and make eye contact with the camera. Send thank you notes after the interview. Follow up to check on the process. Video interviews require extra effort to showcase your skills remotely.
Manage client expectations effectively
Client-facing investment bankers need strong communication and people skills. When working remotely, it’s harder to build rapport in-person. Schedule video conferences to put a face to your name. Be available during normal business hours for calls and emails even if you’re in a different time zone. Use collaboration tools to stay aligned with internal teams and clients. Deliver quality work product and meet deadlines to prove you can handle the workload remotely.
Maintain productivity, work-life balance
To thrive in the intense and fast-paced environment of investment banking, you need extraordinary focus, time management and self-motivation. Eliminate distractions by setting up a dedicated home office. Block time for deep focus work. Stay disciplined with your schedule. Don’t slack off just because no one is watching you in person. Maintain relationships and hobbies outside work to avoid burnout. Working remotely actually allows better work-life balance if you can exercise discipline.
With proper preparation, utilizing your networks, showcasing your finance skills, and maintaining productivity, you can break into investment banking from home. Remote work enables talented professionals to access top tier finance jobs without relocation.