If you have ever tried applying for a job in investment banking, you will know that getting one is not simple. The front office bankers earn much more than anyone else, other than footballers or ‘celebrities.’ Suppose you wish to achieve a career in the financial services – mainly in M&A and sales or trading, you will have to be very good. You should know the right channels and once you know that then things are much easier. You need to have the right education and once you have that then no one can stop you from becoming an investment banker. There are so many things you need to keep in mind and let us look at them and find out what we should be doing to get there quickly.
You will also have to know processes that can get you in a door. The banks are bureaucracies and there are tried & tested routes in the jobs. Some will involve graduate programs; however graduate programs aren’t all there. Before you will give up on the chances of working at banking, go through list below.
Apply during your bachelor’s degree
The banks hire students with bachelors’ degrees on the analyst programs. Such programs are very competitive: only the best of best get in. But 80% of people that get hired as the full time analysts may previously have worked out for bank as the summer internships – it means that the real moment to get into the investment bank is at a summer internship in the penultimate year of the university course. This is a very important thing as a degree from the right place can really take you places where you will never have any financial problems.
Apply before and during the Masters in Finance
Nowadays, banks like to hire juniors with the Masters in the Finance qualifications – particularly for the positions in risk and sales and trading. Suppose you have a Masters in Finance, you will still join the bank as analyst. Thus, you will have to complete the summer internship. With many Masters in the Finance courses just lasting for a year, it is advisable to complete an internship during summer before Masters begins. Thus, you will have to apply for the internships during the final year of your bachelor’s degree. This is an important step and you should be taking it if you want to be successful and grow in your career that is something very important.
This used to be a case that the students completed the single summer internship in which they received offer to join bank full time and they didn’t. These days, some of the best students who are applying for the jobs in investment banks have done multiple internships (and spring weeks included). Very importantly, some also have continued working as interns even when they’ve graduated. Some have also received the offers to join the full-time at an end of the internships. Most of the banks offer the ‘off-cycle internships’ for students and ex-students that are available outside summer months. It is common to come over analysts in the investment banks who have completed many of the off cycle internships prior to settling in the full time job.
Apply it during top MBA
Suppose you cannot get on banks’ analyst programs, then you can apply for the next notch up with associate programs. The banks promote some existing analysts in order to become the associates. However, they often hire associates from outside of their countries. Particularly, they hire exclusively from the world’s top schools. Suppose you wish to get an associate job in an investment bank, you will need to have done an MBA. With the analyst programs, the banks hire the full time associates just after the summer internships.