Melbourne is recognized as one of the top financial hubs in the Asia-Pacific region. As such, the city boasts a vibrant investment banking sector with leading global and domestic firms. Competition is fierce to secure a role at a top investment bank in Melbourne. Relevant qualifications, networking, internships, and technical skills are key to standing out. Once hired, hard work, performance, and cultural fit determine advancement. This article reviews how to get your foot in the door and climb the ladder at premier investment banks in Melbourne.
Target Leading Melbourne Investment Banks and Boutiques
The major global investment banks with a presence in Melbourne include UBS, Credit Suisse, Goldman Sachs, JPMorgan, Citi, Macquarie, Deutsche Bank, and Morgan Stanley. Top domestic firms include Ord Minnett, Shaw and Partners, Morgans, Wilsons, Bell Potter, and Evans & Partners. Boutiques like Lazard, Barrenjoey Capital, and Gresham Partners are also highly regarded. Focus your applications on firms aligned to your desired sector coverage like financials, industrials, real estate, or resources. Avoid applying widely across incompatible firms.
Obtain Relevant Educational Qualifications
Most candidates at top investment banks hold a finance, accounting, economics, commerce or business degree with strong grades from a reputable university like Melbourne, Monash or ANU. Completing a double degree in law/commerce or engineering/commerce can help you stand out. Gaining exposure to accounting and corporate finance curriculums is essential. An honors year, studying abroad, or a masters like CFA are also useful credentials.
Leverage Networking and Previous Internships
The financial services sector remains relationship driven despite increased formal recruitment processes in recent years. Use university alumni groups, industry events, LinkedIn and personal connections to build relationships at your target firms. Having completed vacation programs or internships in corporate finance, investment banking or management consulting is highly regarded and may fast track you to a graduate offer.
Develop Technical and Soft Skills
Investment banks seek strong technical aptitude in financial modeling, valuation, accounting, Excel, PowerPoint and databases. Soft skills like communication, resilience, collaboration and attention to detail are equally important. Picking up languages like Mandarin can help. Pursue extracurricular activities that demonstrate these capabilities alongside your academics.
Be Prepared to Work Hard and Deliver Results
Once you secure an investment banking role, working hard is essential but not sufficient. You must deliver excellent results individually and in teams to stringent deadlines. Analysts focus on pitchbooks, financial models and due diligence. Associates lead execution of mandates and manage junior bankers. Vice Presidents originate deals, interact with clients and oversee projects end-to-end. Managing Directors drive new business, command client relationships and lead deal teams.
With the right qualifications, experiences and skills, a rewarding career at a top investment bank in Melbourne is achievable through persistence and performance. Continually expand your expertise and relationships to advance from analyst to associate, VP and MD roles.