Chicago is one of the top financial centers in the US and home to major investment banks like Goldman Sachs, JPMorgan and Credit Suisse. With a thriving investment banking scene, Chicago offers plentiful junior investment banking roles for recent graduates and young professionals. This article will share tips on how to land a junior investment banking job in Chicago, from building the right skills and experience, acing the interview process, networking effectively and researching firms hiring in the city. It will also overview the investment banking landscape, typical junior analyst responsibilities and career progression prospects in Chicago.
Understand the investment banking sector in Chicago
Chicago has a diverse investment banking sector covering areas like mergers & acquisitions, IPOs, debt financing, trading and equity research. Top banks with a major presence include Bank of America, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Lazard, Morgan Stanley, UBS and William Blair. There is demand for junior analysts across front office M&A, ECM, DCM and trading roles. Chicago IB focuses on sectors like consumer goods, healthcare, industrials, real estate and transportation.
Gain relevant skills and experience for junior roles
To stand out when applying for Chicago IB junior analyst roles, candidates need to demonstrate relevant hard and soft skills. On the hard skills side, this includes financial modeling, valuation, accounting, financial analysis and Excel expertise. Soft skills like communication, work ethic, attention to detail and teamwork are also valued. Gaining internship experience in investment banking, private equity, equity research or relevant areas is highly regarded. Leadership roles in finance clubs also help.
Prepare for the rigorous interview process
The interview process at top Chicago investment banks will be demanding. Expect multiple rounds including behavioral, technical and case study interviews. Common technical questions test financial modeling, valuation, accounting, market awareness and mental math skills. Prepare by researching investment banking interview questions and practicing mock cases and modeling tests.
Network and connect with Chicago investment professionals
Networking is crucial for breaking into Chicago investment banking as a junior. Attend industry events, connect with alumni working in Chicago banks, ask for informational interviews and tap into your school’s career center. Building relationships with professionals at your target firms can help secure referrals and insider tips.
Research Chicago investment banks hiring junior talent
Closely track Chicago investment banks’ websites and careers pages for junior analyst and associate openings. Mass apply when applications open. Smaller, boutique firms can provide strong junior experience as well. Chicago has options across M&A, coverage, sector-focused and generalist banks.
Chicago offers excellent junior investment banking opportunities. With the right skills, experience, interview preparation, networking approach and firm research, driven candidates can land coveted Chicago IB junior roles.