With the global economy facing headwinds and deal activities cooling down in 2022, major investment banks have slowed down hiring. However, the analyst programs at top bulge bracket banks remain highly competitive. Graduating students vying for these coveted entry positions will face fierce competition in 2023. This article will analyze the hiring outlook, required skills and preparations needed to stand out in the application process.
Large banks to maintain similar hiring targets
According to industry surveys, most bulge bracket banks plan to keep their analyst class sizes largely unchanged in 2023 versus 2022. For example, Goldman Sachs expects to hire around 3,000 campus hires. While banks are tightening their budgets, they recognize the need to continue investing in young talent.
Technical skills are critical to stand out
With financial modeling being a core skill for investment banking analysts, applicants need to demonstrate strong Excel, financial statement and valuation skills. Having experience with Pitchbook, CapIQ and other data sources will be advantageous.
Soft skills should align with bank’s culture
In addition to technical abilities, analysts need communication, teamwork and critical thinking skills. When interviewing, candidates must showcase soft skills that fit the bank’s corporate culture.
The path to becoming an investment banking analyst at a top global bank will remain highly competitive in 2023. Applicants need to hone their technical abilities, align their soft skills with the bank’s culture, and thoroughly prepare for the demanding recruitment process.