Simulation training, often referred to as ‘sims’, has become an integral part of preparing for a career in investment banking and other financial sectors. As competition increases, using sims allows prospective bankers to gain technical and practical skills to stand out. This article will provide an overview of what a sim is and why they are now commonplace when trying to get into investment banking.
Sims replicate real-world banking situations
Investment banking sims are designed to simulate the day-to-day tasks and scenarios bankers encounter on the job. This allows those looking to break into finance to gain relevant experience by analyzing documents, financial models, pitch decks and more. The simulations cover everything from financial modeling, building presentations, to negotiating M&A deals.
Top providers of investment banking sims
There are now many providers that offer simulation training for banking interviews and live finance cases. The most well-known are Wall Street Prep, Training The Street, BIWS and Breaking Into Wall Street. These providers aim to mimic investment banking interviews and test technical skills through excel modelling tests and case study assessments.
Simulations are becoming essential preparation for getting into investment banking roles. They test both hard and soft skills in a risk-free environment to make candidates as prepared as possible.