Make sure you take classes in macroeconomics and microeconomics, as well as classes that cover personal and business finance concepts, as well as business and tax law, international business practice and strategies. Start with introductory courses and then take advanced courses in the areas that interest you the most.
The large investment bank internship programs are highly competitive, and may be difficult to get into. However, smaller investment banks exist in many cities, and can be easier. If you can’t find an investment bank with an internship program that works for you, try to get a summer internship at a regular bank. It’s not quite as beneficial as an internship at an investment bank, but it can still give you a leg up.
Most investment bankers start as a financial analysts. In that position, you study and analyze the market and produce reports that business executives use to make sound financial decisions.
Evaluate business schools closely – don’t just go to the first one that accepts you. While the cost of tuition may be a huge factor for you, it shouldn’t be the only factor. Many reputable business schools have part-time or evening MBA programs if you plan on working while you get your MBA.
The business school typically will be more connected to investment banks than the general career services office for undergrads would be. Smaller, boutique investment banks typically don’t visit schools or recruit large classes of interns and new hires. If you want to work for a smaller bank, you’ll have to seek them out on your own.
If your school has an investment banking club, join it. They typically have a lot of events that provide good networking opportunities. Clean up your social media accounts so that you can use them to network with investment bankers (you may want to remove those pictures from your spring break trip), and join a professional social media platform such as LinkedIn. Have informational interviews with experienced investment bankers. If they’re local to you, call and invite them to lunch and tell them you want to pick their brain. Most professionals love to share their wisdom and give advice to people just starting out.
If you don’t have a degree at all, it’s typically impossible to get into the investment banking profession. However, if you have several years in another profession and an undergraduate degree in something else, you may still have a chance. You might want to consider a part-time or night MBA program. There are many reputable business schools that offer these programs for mid-career professionals, and most investment banks only recruit from business schools. [8] X Research source
Try to find someone who understands the traits and skills that investment banking requires. You want references who know what to emphasize.
For example, you can become a Chartered Financial Analyst (CFA) after three phases of tests and with four years experience in the field. The preparation for the exams typically is self-study, so you can do it on your own time.
Join professional associations or groups for investment bankers. If you live near large investment banks, hanging out at cafés or restaurants near the banks can be a good way to meet investment bankers casually. Keep in contact with investment bankers you meet, and follow up with them regularly. You want to stay on their mind if something comes up that they think might interest you.
Most large investment banks have fairly rigid and traditional recruiting processes. You may have to find a smaller boutique firm for this idea to have a chance. Let all of the contacts in your network know that you’re looking for an internship. They may be able to help you out.
These programs are highly competitive, so don’t get discouraged if you get rejected. Apply to as many as possible to increase your odds. Look at the characteristics of the last associate “class” to get a taste for what an investment bank is looking for in a new associate.
You’ll typically need to pass exams to get a license to buy and sell stocks and other commodities for your clients as an investment banker. The training programs provide you with the information you need to pass these exams.
Any accessories you wear should be understated. Avoid anything flashy or distracting.
If you were fortunate enough to get into a training program with a larger investment bank, they’ll provide you the information and resources you need to pass licensing exams. Otherwise, you’ll have to study for these exams on your own. You may be able to find study resources or even copies of old exams on the internet. Do a general internet search or look on the website of the department or agency administering the exam.
Make sure your contact information with the department or agency that issued your license is up to date. They’ll use it to send notices to you when your license is up for renewal. Try to spread your continuing education out over the whole year, rather than leaving it to the last minute. That way you can take classes that actually interest you and will benefit your clients.
