Sunday, December 23, 2012

How To Build An Investment Banking Career

How to build a banking investment career, including education, training and how to find a job.

Investment banking is deservedly one of the most respected career paths available today. The profession involves challenging work at every level, attracts the highest caliber of employees, and pays top dollar. As a result, the screening system to get a foot in the door is rigorous, and once you've successfully secured an investment banking job, you will find yourself in fierce competition with your colleagues for top bonuses.

Entry Points for Investment Banking Careers

There are three traditional entry points for investment banking careers: as an analyst, as a post-MBA associate, and in one's later career. Let's examine each one.

Every investment bank recruits a large class of analysts each year from the top undergraduate institutions. The analyst position offers an unparalleled degree of challenge and responsibility for young professionals, but the experience typically demands more than eighty hours a week for two years straight. Virtually all analysts are hired directly out of four-year undergraduate institutions. All possess stellar grades, a poised interview presence, and a very timely approach to interviewing and resume preparation - analyst interviewing typically occurs in September and October of senior year.

Investment banks also recruit large classes of associates from top MBA programs. Although a few analysts go on to become associates, the associate position is usually seen as the beginning of the investment banking career path - from associate to vice president to managing director and beyond. Associates assume responsibility for all aspects of investment banking marketing materials (pitchbooks), and deal execution. Virtually all associates are hired from summer associate positions at the same bank - meaning interviews in the first year of business school are very likely to determine job choices later on.

Finally, there are those who join investment banking later in their careers. This is the most cyclical of all investment banking intakes. Some years banks are desperate for people, and other years there are hiring freezes and it is impossible to enter the industry. When opportunity strikes, it pays to be prepared. This means having a resume with significant experience at either a smaller boutique investment bank, or a major commercial bank or asset manager. Furthermore, it means keeping in touch with contacts in the industry so you will know when banks are soliciting resumes.

Once you're in the door, it's time to build your successful interview into a successful career.
Article source:

Inside Investment Banking (IIB)

If you are eager to apply for investment banking roles, visit the IIB website. It is authored by five young investment bankers who all succeeded to break into investment banking without a degree from Harvard and without an internship from Goldman. They’ve created the IIB website to share their experiences and help others to do the same. Click here to visit Inside Investment Banking