How to Begin a Career in Investment Banking
- 1). Study economics to the highest degree you possibly can before beginning your career. Typically, a bachelor's degree will suffice, though an MA in economics or even a MBA (business degree) could be equally appreciated. The focus of the degree should be in finance, though it is possible to get by with a focus in international development or other heavily-quantitative related coursework. The bare minimum coursework requirement would be microeconomics, macroeconomics, microeconomic theory, macroeconomic theory, econometrics, and financial markets.
- 2). Write a resume that is "finance-ready." A finance-ready resume is one page, uses only action verbs to describe your experience, and clearly explains why you are qualified to work in finance. Since your first position will almost definitely be as an intern, you will need to detail in your resume what work you've done in your background that has, first, any relation to financial markets, and, second, a basis in quantitative research and analysis. Employers will also be interested in your ability to both work independently and work in groups. Investment bankers are self-starters that are able to work with others when it would help get the job done better, so include things like international experience and community service as a minor third part of your resume.
- 3). Secure an internship in investment banking. Most investment bankers start their careers with an internship, and yours will likely not be an exception. Securing an internship has three stages: (1) finding the opportunity; (2) submitting a resume; (3) performing well in an interview. You can find entry-level investment banking opportunities by growing and utilizing your existing network of contacts, reviewing job opportunities on major job search sites (e.g. Indeed, Monster, Craigslist), and applying directly to firms through their respective websites. Once you find the opportunity, submitting a resume will be easy (e.g. email or fax) -- but be aware that different firms have different resume formats. Performing well in an interview requires practice and preparation, both of which can be attained by reading and reviewing the Vault series of books, the most popular series used by people trying to break into the investment banking industry.
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