Landing an entry level investment banking job is highly competitive but rewarding for graduates. This article provides insights on the skills and experiences needed, interview preparation, networking, as well as the typical work scope, salary, hours for investment banking analysts. With proper planning and strategic positioning, fresh graduates can increase their chances to enter the lucrative investment banking industry.
Technical skills are critical for investment banking analyst jobs
Investment banking analysts provide support to deals by building financial models, preparing presentations, conducting research and analysis. Strong excel modelling skills is a must-have. Solid understanding in accounting, corporate finance, valuation methodologies will be assessed during interviews and on the job. Advance preparation through courses, books, case studies is important.
Soft skills differentiate fresh graduate applicants
On top of technical competency, strong communication skills, attention to detail, work ethic and learning agility are equally important soft skills that separate average applicants from exceptional hires. Interviewers assess for fit within bank’s intense work culture and desire for career advancement.
Networking opens doors to exclusive postings
Many open investment banking analyst roles are not publicly listed but filled via employee referrals. Hence, networking is pivotal to access exclusive opportunities. Identify alumnus in target bank, request informational interviews, attend career fairs, bank-hosted events to directly engage bankers.
High pay comes with long hours as an analyst
First year investment banking analysts can expect to earn USD 80k – 120k in base salary and bonus. However, be prepared to put in 80 – 100 weekly hours on live deals during peak periods. The high pay and accelerated career growth compensates for the demanding hours early in one’s career.
In summary, fresh graduates can break into investment banking by focusing their preparation on honing the critical technical and soft skills assessed by interviewers, aggressively networking to gain visibility on openings, and strategically positioning their experiences to stand out from the crowds.