With the allure of high pay and prestige, investment banking jobs are hugely popular among business students and finance professionals. However, breaking into investment banking can be notoriously difficult, especially for entry level candidates with no prior experience. This article will provide practical tips and strategies for landing an entry level investment banking position with no previous experience.
Gain relevant skills and knowledge
While investment banks typically require little to no experience for entry level positions, you’ll need to demonstrate passion and aptitude. Take finance, accounting, Excel, financial modeling and valuation courses to build technical skills. Read books and financial news to understand the industry. Consider obtaining licenses like CFA or networking through student clubs and competitions.
Network extensively
Networking is crucial for breaking into investment banking. Attend info sessions, coffee chats and after-work events to connect with bankers. Ask for referrals and introductions from professors, alumni and professionals in your network. Join finance clubs and connect with members. LinkedIn, e-mail outreach and cold calling also help expand your network.
Perform well in interviews
Interviews for investment banking jobs focus heavily on technical skills, behavioral traits and fit. Brush up on accounting, valuation, modeling, market knowledge and deal experience. Exhibit strong communication skills, intellectual curiosity, work ethic and teamwork. Understand the bank’s culture and convey your passion for finance. Prepare stories demonstrating desired qualities and be able to walk through deals and models.
Entry level investment banking jobs are competitive but attainable through honing technical skills, extensive networking and stellar interview performance. Develop expertise in finance, modeling and markets. Build relationships with professionals at your target firms. Showcase your intellect, drive and cultural fit during the recruiting process.