Investment banking is an incredibly interesting and lucrative industry. And if you are talented enough to get a job in investment banking, there is no better time to start your career than now. With such a competitive job market, it’s important that you do all the research you can to find out exactly what one needs when looking for an investment banking internship or a career in investment banking.
We have compiled this list of resources to help you figure out exactly what you need for an internship or a career in investment banking at whatever level suits your qualifications and interests:
How would I know if I am qualified?
Of course, at the end of the day, it all comes down to who you know in the industry and how much you are willing to do for a job. However, there are a few things that can help you figure out if you have enough of an opportunity to make it in investment banking:
Your education: Investment banking internships are usually very competitive, and at companies that are screening for people with specific backgrounds. One of those backgrounds is a degree in economics or finance. So if you have both of these, plus a background that is relevant to the financial world, you may be able to get an internship at a good investment bank.
Your job history: Even more important than your education and experience is your work history as well as your current employer. If you are someone who has worked for some time in the finance industry, you should absolutely consider investing in an internship at a top firm like Morgan Stanley, Chardan, Goldman Sachs or Credit Suisse.
What types of internships are available?
In terms of internship options, there are some main sports for investment banks (not all are available to everyone of course – you’ll need to make sure you meet a specific criteria):
Research Interns: Research interns work with a team in a department that is doing market research. Some research internships also have a focus on quantitative analysis, and some people who do this get an offer as an investment banking analyst after the term.
Finance and Accounting Internships: An internship at a bank can take many forms.
What skills should I look into developing?
If you are interested in pursuing an internship at a top investment bank, you should be able to answer these questions:
Is my internship going to be a forecasting, data processing or analytical position?
Are they hiring for interns to support the main analyst? If so, what roles do they have available?
What skills are necessary to be successful?
How long does it usually take students to come into the financial center and find jobs? Is there anything that students can do in the meantime to increase their chances of.
Are there any resources available to help me prepare for the interviews?
It is always good to have a mentor, but there are also some other resources that can be extremely helpful:
Networking: First of all, it goes without saying that networking is key for having a successful career in investment banking. It’s a well-known fact that you get out of networking what you put into it – so don’t be shy and approach everyone you know for an introduction.