The Career Path for an Aspiring Investment Banker

Investment banking is a fast-paced, high-pressure career that offers the opportunity for recent graduates to earn substantial salaries straight out of university. However, competition is fierce and the hours are long in this demanding field. This article will outline the key steps an aspiring investment banker in the UK needs to take in order to pursue this career path, such as using a CV template that highlights your experience over academic qualifications.

Why Become an Investment Banker?

A career in investment banking is highly prestigious and financially rewarding. Fresh graduates can earn over £60,000 in their first year. The work is intellectually stimulating, working on complex mergers, acquisitions and corporate finance transactions. If you have an interest in finance, investment banking offers an accelerated career.

Getting the Relevant Degree

Most investment banks prefer to take on graduates with strong numerical skills, so degrees like Mathematics, Economics, Finance and Accounting are preferred. However, some investment banks do recruit graduates from other disciplines as well, as long as they can demonstrate numerical aptitude. A 2:1 or first class degree from a reputable university is usually essential. 

Gaining relevant internship experience during your studies can also help strengthen your application when applying for graduate roles.

Gaining Relevant Experience

Experience is critical when trying to break into investment banking. Completing internships at investment banks during university is the best way to gain relevant experience early on. Investment banks open their internship positions to penultimate year students and use the internship program as part of their recruitment process for full time positions. 

How to Find Internship Opportunities

• Apply for summer internship programs advertised on the careers portal of major banks’ websites. 
• Attend on-campus recruitment events where investment banks come to recruit students. 
• Build connections with alumni from your university who work at your target firms and ask about internship opportunities. 
• Attend networking events and use LinkedIn to connect with investment banking professionals who can refer you for internship roles. 
• Utilise university career services to discover available internships. 
• Investment banking focused headhunters can also advise on relevant open internship positions at various firms.

Internships provide exposure to the workplace environment and culture of investment banks and look good on a CV. Recruiters also use internships to assess which candidates may be suitable for graduate roles. Standing out during your internship by producing high quality work is key.

Another option is to take on analyst roles at smaller financial firms after graduation to gain experience if you are struggling to break into investment banking. This can provide the skills and experience needed to make your CV more attractive when applying to investment banks in future. Just be prepared to put in two years in these more junior roles before trying to make the transition.

Networking and Head-hunters

Networking is hugely important when trying to secure a position in investment banking. Use university alumni networks to connect with professionals at target firms. Attend industry events and conferences whenever possible to build connections.

Working with specialist investment banking head-hunters can also improve your chances of landing interviews. Head-hunters have relationships with various banks and can recommend your profile if they think you are a good fit for any open positions. Being proactive and maintaining contact with head-hunters even when you don’t need them can help for the future.

Preparing for Interviews

The interview process at investment banks aims to rigorously assess analytical skills and personal competencies. Expect complex technical and numerical questioning requiring strong quantitative reasoning ability. Researching industry trends and preparing answers for commonly asked questions around your motivations is vital. 

You will also need to demonstrate strong communication skills, work ethic, attention to detail and commercial awareness. Preparation with practice interviews including mock questions, presentations and group exercises will help improve performance. Specialist courses also exist to help graduates prepare for investment banking interviews.

Continuing Your Professional Development

Once you secure an investment banking role, the learning doesn’t stop. Be prepared for a steep learning curve and intensive on-the-job training in your first years. Take advantage of any educational opportunities offered by your employer. Continuous networking, being proactive in seeking feedback and asking questions will also be important for your development.

Chartered qualifications such as the Chartered Financial Analyst (CFA) qualification or Chartered Accountant (ACA/ACCA) qualifications can further boost your technical expertise and credibility with clients. The long hours and travel requirements of investment banking can be sustained easier if you have a genuine interest in financial markets. Remaining agile and being willing to adapt to changing bank priorities and new technologies can also help progression.

With rigorous preparation, networking and perseverance, a successful career in investment banking is possible for aspiring graduates. But stamina and dedication are required to make it in this highly competitive field. Stay focused on your goal and leverage every opportunity during your studies and early career to gain the required knowledge, skills and connections.