Investment Banking Career Made Easy

Your dream is to become an investment banker. A dream remains a dream until realized. So, how do you go about it? Certainly, you know the competition is worse than any other industry. You have a chance at succeeding fixed at the rate of an approximate 0%. What? Yes, that’s the astounding truth.

Goldman Sachs receives 267,000 applications every year and only 3% get the chance to be there actually dealing in money. So is the case with many other reputed investment banking houses like Morgan Stanley and JP Morgan Chase, or for that matter, Bank of America and Merrill Lynch. But don’t lose heart. Here are the basic and frequently asked questions who are in a whirl of confused emotions and searching answers for so many dilemmas in their investment banking career:

#1. How do you choose the bank to apply to?

The best strategy to start your investment banking career is to apply to top banks like Goldman Sachs, JP Morgan, Morgan Stanley, and so on. What’s not there not to apply? For example, higher compensation, great exit opportunities, and amazing offers. Applicants have a wide variety of choices to choose from.

There are other global investment banks which might not be in the league of the biggest of the investment banks which you can apply in like HSBC, Nomura Holdings, Royal Bank of Canada, and others. There is also the presence of international boutiques on investment banking such as Blackstone, Houlihan Lokey, and Greenhill & Co.

These are smaller as compared to major investment banks but they deal with high-net-worth individuals on biggest of deals and it makes them worth investing time in. For example, the merger and acquisition process between Heinz and Kraft by Centererview and Lazard.

It’s a good advice to apply for many companies you want, say 15-20. The probability of selection increases with the increase in the number of banks you apply to.        

#2. When is the right time to apply?

For the global applications, you must start by August or September. These applications are open for at least 2-3 months for full-time employability and internships. Some local offices of banks in Moscow, Milan, Amsterdam, and Frankfurt hire out of season. But that’s an exception. If you start right when applications start filling out, you will have a lot of time to apply for different banks.

#3. What are the eligibility requirements for a career in investment banking?

For detailed information on what eligibilities are required for different positions, directly check the website career page. Also, check if you know the language of the country you’re applying to. You must start by applying for internships and not full-time jobs right away because firstly, it tests your interest in the field and you can be sure whether a career in investment banking is your calling or not.

If a career in investment banking is what you want to pursue, go ahead and head to your instincts. We hope these points helped clear some confusion.

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