How to Become an Investment Banker
Choose a banking related major., While you are taking your classes, brush up on your spreadsheet and presentation skills., Get a summer internship., Hit the networks, and the social networks., Look sharp when you meet the banks., Get a glimpse into...
Step-by-Step Guide
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Step 1: Choose a banking related major.
There is no investment banking major, so an individual must pick from an investment banking-related major such as finance, economics, business or accounting.
Any of those majors should be fine.
Having said that, increasingly banks accept and look to attract students with a mathematics or engineering background.
The assumption is that students comfortable with quantitative sciences will find finance relatively easy to grasp. -
Step 2: While you are taking your classes
Investment banking is about being smooth with numbers.
The right classes are great practice.
Make sure you are creating presentations with spreadsheets attached.
Microsoft Excel and Powerpoint are mainstream.
Don't spend as much time with alternate programs. , The best thing you can do to get an investment banking job right out of college is to get a summer internship at an investment banking firm before graduating.
Try for the big investment banking firms such as well known firms in New York or London.
Getting an internship at a smaller investment bank is really just about as good.
These firms are called “Boutique Investment Banks” and exist in many cities.
There are many reasons why a smaller bank may be easier to get an internship at.
It may be in your town.
There may also be a firm that is more specialized to what you have done. (For example, say you have interned at an airline.
There are a couple boutique firms that pretty exclusively lease aircraft.) There may also be less competition.
Lots of students haven't heard of the boutique firms.
You can also get a summer internship at a regular bank (not an investment bank).
That is not quite as good, but would still give you a huge leg up. , Like anywhere, getting to know people outside of the interviews works great.
Join the investment banking club at your school, if there is one.
That is a great way to network with potential employers.
Join Linkedin groups for investment banking.
Talk to alumni from your school that have recently joined investment banks.
You can contact them via Linkedin or Readyforce or even Facebook.
Ask them to lunch (if you are local) or a phone call if you are remote.
Don’t be afraid to travel to another city to meet people, if it will help you find better leads. , They want people who can look the part.
The dress is classy, formal, and relatively old-school.
It's not, however, out on the leading edge of fashion.
If you are from California, say, and going to New York, dress up.
Read up on business formal dress for both men and women. , Several popular websites and blogs cater to investment bankers.
The language used is specifically aimed at finance professionals and reading gives you a better idea of the banker mindset.
Websites are a vital source of daily information for various finance professionals, including investment bankers.
Blogs like give you insight into the life of a deal maker. -
Step 3: brush up on your spreadsheet and presentation skills.
-
Step 4: Get a summer internship.
-
Step 5: Hit the networks
-
Step 6: and the social networks.
-
Step 7: Look sharp when you meet the banks.
-
Step 8: Get a glimpse into the world of investment banking by hearing what existing bankers have to say about the business.
Detailed Guide
There is no investment banking major, so an individual must pick from an investment banking-related major such as finance, economics, business or accounting.
Any of those majors should be fine.
Having said that, increasingly banks accept and look to attract students with a mathematics or engineering background.
The assumption is that students comfortable with quantitative sciences will find finance relatively easy to grasp.
Investment banking is about being smooth with numbers.
The right classes are great practice.
Make sure you are creating presentations with spreadsheets attached.
Microsoft Excel and Powerpoint are mainstream.
Don't spend as much time with alternate programs. , The best thing you can do to get an investment banking job right out of college is to get a summer internship at an investment banking firm before graduating.
Try for the big investment banking firms such as well known firms in New York or London.
Getting an internship at a smaller investment bank is really just about as good.
These firms are called “Boutique Investment Banks” and exist in many cities.
There are many reasons why a smaller bank may be easier to get an internship at.
It may be in your town.
There may also be a firm that is more specialized to what you have done. (For example, say you have interned at an airline.
There are a couple boutique firms that pretty exclusively lease aircraft.) There may also be less competition.
Lots of students haven't heard of the boutique firms.
You can also get a summer internship at a regular bank (not an investment bank).
That is not quite as good, but would still give you a huge leg up. , Like anywhere, getting to know people outside of the interviews works great.
Join the investment banking club at your school, if there is one.
That is a great way to network with potential employers.
Join Linkedin groups for investment banking.
Talk to alumni from your school that have recently joined investment banks.
You can contact them via Linkedin or Readyforce or even Facebook.
Ask them to lunch (if you are local) or a phone call if you are remote.
Don’t be afraid to travel to another city to meet people, if it will help you find better leads. , They want people who can look the part.
The dress is classy, formal, and relatively old-school.
It's not, however, out on the leading edge of fashion.
If you are from California, say, and going to New York, dress up.
Read up on business formal dress for both men and women. , Several popular websites and blogs cater to investment bankers.
The language used is specifically aimed at finance professionals and reading gives you a better idea of the banker mindset.
Websites are a vital source of daily information for various finance professionals, including investment bankers.
Blogs like give you insight into the life of a deal maker.
About the Author
Emily Ward
A seasoned expert in technology and innovation, Emily Ward combines 13 years of experience with a passion for teaching. Emily's guides are known for their clarity and practical value.
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