We've seen hundreds of resumes and done countless interviews with new analysts and colleagues after working in investment banking for several years. The following advice gets based on firsthand knowledge of the most successful ways to land a job in Investment Banking at Joseph Stone Capital.
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Writing a resume and networking
Getting an interview for a job in investment banking is the first
step. Investment banking is highly competitive, with more applicants than
available positions each year. You'll typically be up against university
students with high GPAs and a long list of internships under their belts. Networking
is a fantastic method to boost your interview prospects. Here are four simple
ways:
(a)
Talking to your career center
and asking to be connected to any alumni working at investment banks that you
wish to target is a simple approach to get started networking.
(b)
Another strategy is to see if
you have any contacts who can introduce you to bankers with whom you wish to
network. Make sure the inquiry gets focused on learning more about the business
rather than landing a job or securing an interview.
(c)
Joining a local society in your
city and networking with local professionals who may know investment bankers
and may introduce you to them is a third option.
(d)
Hundreds of schools from all
around engage in a live investment banking case competition at the National
Investment Banking Competition (NIBC).
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Knowing how to do an interview
The interview procedure for investment banking is quite organized,
according to Joseph Stone Capital.
The banks scan resumes swiftly, perform first-round interviews, conduct on-site
interviews in their offices, and give job offers.
The first round of interviews will take over the phone or on campus.
You will get asked three categories of questions: problem-solving, technical,
and behavioral. The first interview will include all three questions, although
the technical ones will receive greater attention. The first round's goal is to
rapidly sort candidates into those who live up to their resumes and those who
don't.
The final round will be on-site, with everyone being flown in from
their school or hometown. Interviews with persons ranging in seniority are
usually part of the final round. The more junior the interviewer, the more
technical their questions will be, and the more experienced the interviewer,
the more behavioral their questions will be. It's crucial to look your best for
the interview, which usually means wearing a black/blue/gray suit with nothing
too flashy.
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Understanding how to respond to interview questions
There are three categories of interview questions, as indicated
above: problem-solving, technical, and behavioral. You may practice with a
detailed example of an investment banking interview. It gets based on
questions that investment bankers ask when hiring analysts and colleagues at a
prominent global bank.
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Developing technical abilities
Valuation,
financial modeling, accounting, and Excel are the most important technical
skills to learn. You can study all of the aforementioned technical skills
online. We recommend that you enroll in investment
banking online courses to ensure that you obtain a career in investment banking.
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