Are you interested in investment banking? Here’s how to get a job

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A career in investment banking can be extremely rewarding. Including salary and bonuses, the average compensation for first-year analysts in 2022 averages $142,000.

But landing a job in investment banking isn’t easy, and it takes more than solid grades, especially if you’re hoping to work for a big company. Ken Adams, founder of 10X EBITDAa career coaching company, recently shared some insider tips with Stacy Blackman Consulting about what the recruitment process is and how potential candidates can present their best asset.

RECRUITMENT STARTS IN THE FIRST SEMESTER

The recruiting process for investment banking, private equity, and hedge funds begins the first semester of your MBA program.

“Investment banks have to hire a large class of summer associates every year, so they generally follow business school rules and policies,” according to Adams. “They run various networking programs and informal networking sessions with MBA candidates throughout the first semester. Interviews start towards the end of the winter holidays and at the beginning of the second semester.

Some of the best companies for candidates include Goldman Sachs, Morgan Stanley and JP Morgan due to the quality of transactions handled by the banks.

“They also have ‘global pay’ which means that bankers from other countries are paid the same as bankers from the home country (i.e. US/UK ),” according to Adams. “Other coveted banks vary by geography.”

BUILD AN MBA STRATEGY

If you are an MBA candidate with the goal of working in investment banking, you might want to consider applying to top business schools, such as Wharton, NYU Stern, and Columbia Business School.

“The best business schools expect holistic interests and accomplishments,” according to Stacy Blackman, founder of Stacy Blackman Consulting. “Highlighting personal qualities and triumphs is essential to your MBA application strategy.”

Determining factors, such as test scores and grades, are often less important to admissions officers at top business schools. Rather, says Blackman, admission depends more on an applicant’s interest.

“Successful applicants in finance spoke about activities they engaged in outside of the classroom as undergraduate students or work today,” says Blackman. “For example, debating leadership, athletic activity, and an outstanding thesis were undergraduate experiences that led to admissions to GSB and HBS. Emphasizing prior interests that show character and values ​​can differentiate finance candidates competing for top MBA programs.

Sources: Stacy Blackman ConsultingP&Q

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