Getting a job in Investment Banking is not a cakewalk. The number of applicants is very high as compared to the number of vacancies. Even though it might seem tough to get into, doesn't mean that you shouldn't try. Though there are a few things you must remember if your ultimate aim is to break into investment banking.
1) Try To Intern At As Many Places As Possible
Internships help you go a long way. Even though it might seem like a lot to do with your college, but it is going to assist you in the long run. Many companies and banks tend you offer you a PPO, i.e., a pre-placement offer which can lead you to a full-time job once you graduate. But do remember that it is not necessary that an internship will come to fruition as a job in Investment banking, it is only a possibility which is highly dependent on the way you perform during the internship. Going for a banking course from a reputed organization can help you a lot.
Also Read : How to Become an Investment Banker
2) Polish Your Resume Well
A resume is the first thing that any employer is going to look at. If you want a good chance against the other applicants, your resume must be strong. Do not submit your resume anywhere without a cover letter. There is a set format for a resume that you must follow. Your resume must have the necessary quantifiable documents that will be required. Your CV must also have the proper diction along with the format and materials. Try to keep it only a page's length as the chance of your employer going through multiple pages is quite low.
3) Build Up Your Network
It is essential to start networking at an early stage. Try contacting people who are already in this field, try to learn from them. Even though their work keeps them busy, it is possible that they still take out a little time to mentor you. You can go for a banking course, the other people you study with can become your contacts in the future. Investment Banking is a field that is very time demanding, so getting help before you are to start the job will help you understand the work better.
4) Do your Mock Interviews Before you Go for the Position
A potential employer isn't going to ask you simple questions that you can answer with minimal practice or minimal knowledge. You need to be well prepared as it is possible that they will end up asking you technical questions. If you've gone for a banking course, it will help you be a little more prepared for this. You should have knowledge regarding accounting, mergers, financing, etc.
5) Pay More Attention to Behavioral Questions
Merely being able to answer the technical questions doesn't mean that you will get the position. You must explain the different values that the problems could revolve around with stories and experience that you can quote. Try thinking about the possible questions that can be asked and try coming up with your experience from the past that can support your answer. Going for a banking course is highly recommended as it can help you prepare for the kind of work that you will have to do.
Investment Banking is not an easy field to get into, but it is a field that pays well. So it is time to start working hard and reap the benefits for the rest of your life.