Tag Archives: Here’s

Banking

Insider Secrets – Here’s How To Land Your Job In Investment Banking

Investment banks facilitate the issuing of securities by companies and governments, sell securities to investors, manage the financial assets for high net-worth individuals and companies, and give financial advice on investments and securities. Long hours are the norm in the high-risk, high-reward job of an investment banker. The numbers of positions that open each year are very small yet there are usually 30 to 50 applicants for each opening. Many people want to become an investment banker. The competition for these positions is very competitive. Here is a guide on how to improve your chance of landing a job as an investment banker.

The first step is to determine what type of position you would prefer as an investment banker. The industry is segmented into bulge bracket companies, boutique companies and international companies. Boutique companies focus on a small segment of the market or a vertical market. This is a great way to gain experience. Turnover is usually lower in boutique companies and you have a better chance of getting training working for these types of companies. Bulge bracket companies are the large companies like Chase and Wells Fargo. The hours and demands at these companies are greater, the turnover is much higher and the pay is usually more. International companies are located outside of the US in cities with major finance centers like London, Tokyo and Paris. These positions usually require the ability to speak multiple languages fluently.

The best way to get a job as an undergraduate is to secure an internship with an investment banking firm. The internship will give you an opportunity to work one or two summers with the company. The company will be able to evaluate your ability to perform the duties of the position. If the company is pleased with your work, you have an almost guaranteed chance of being hired after graduation. This is the best way to eventually land a job in investment banking.

Another method of getting a job is to graduate with a high GPA from a school that is targeted by an investment banking company. These companies will interview almost exclusively at selected universities. It is not unusual for the company to fill almost 90 percent of the vacancies with students from these selected universities. Attending these universities will give you a better chance at being hired by one of these companies.

If you do not have an internship or graduate from an Ivy League school, the best chance you have to get a job in investment banking is through networking. You should actively use the alumni network at your school to make contacts with graduates that are currently working in the industry. They may be willing to give a chance to a graduate of their alma mater.

With the proliferation of social media, it is possible to network with people in the industry using tools such as Facebook, LinkedIn and Twitter. The best recommendation is to start networking your first year in school. This will allow you to build a very large network of contacts that you can call upon when you reach graduation.

Sometimes getting a position in investment banking depends on where you went to school, where you worked or who you know.

Next, I have put together perhaps the greatest gift of all times. Click here to get my 7-day free investment banking online course on 5 secret strategies to double your chances of getting an investment banking offer.

Banking

Here’s How To Succeed At Your Investment Banking Interviews

Investment banking is the most financially lucrative position for any university graduate. There are many people vying for the few openings each year in this industry. Graduates who are able to land one of the prime positions have mastered their investment banking interview. Successful candidates are the ones who prepare for their interview and anticipate the questions they might be asked and how to best answer them.

Questions that you will be asked will be either fit questions or technical questions. Technical questions are either right or wrong just like two plus two will always equal four. Investment banking companies ask technical questions to see how well you know the formulas and whether or not you are paying attention in class.

The fit questions are what separates the potential hires form those that are rejected. Companies ask fit questions to make sure you will be a good addition to their company. Fit questions are sometimes referred to as “the airport test.” This tells whether or not an investment banker would feel comfortable spending several hours in the departure lounge of an airport with you.

The fit questions give you an opportunity to be charming and personable and appeal to the interviewer so they will select you for an open position. How you answer a fit question is the ultimate key as to whether or not you will be hired by the company.

The answer to a fit question will show your motivation and desire to work in the investment banking industry which is well known for its 80+ hour work weeks. Companies want to hire employees who show they are willing to do whatever it takes to succeed in this highly competitive industry.

Fit questions give you an opportunity to accentuate your strengths and experiences that will be valuable to the company. Everyone has had many experiences in their lives and answering these questions is the chance to show how your life experiences would benefit the company.

The purpose of fit questions is to put you on the spot and see how well you can think on your feet. It also prevents you from being able to spout out memorized responses to potential questions. Some of the questions that you will be asked assumes that there is no possible way for you to know the answer. What the company is evaluating is how well you can think of a way to solve the question without already knowing the answer. In most cases the interviewer will not know the answer to the question either.

Now that you understand the fit questions will be the major decision factor during your interview, you should focus the majority of your preparation on these forms of questions.

Next, I have put together perhaps the greatest gift of all times. Click here to get my 7-day free investment banking online course on 5 secret strategies to double your chances of getting an investment banking offer.

Banking

Here’s The Most Difficult Interview Question For Banking

Banking is a very challenging industry in which to work. People who are successful in banking have a combination of outstanding research and analytical skills, people skills and the desire to work some of the longest hours every week. In return for the long hours and the job demands, bankers can expect to receive an income well above market average. It is not unusual to have people at senior levels in banking earn over a million pounds per year in pay and bonus.

Getting a job in banking is very challenging. It is not uncommon for a company to have 100 or more resumes for every opening. The banking industry has a term for the day they interview all the candidates and it is called “super day.” On that day you can be subjected to over a dozen interviews with people at all different levels within the company. The process starts at 8 in the morning and can easily extend to 8 or 9 at night. The purpose of these multiple interviews is to select the one or two candidates from the 100 applicants that will be hired by the company.

The interview process is the make or break point for all of the applicants. Almost every bank firm will ask you a series of technical question to ascertain that you are familiar with the formulas that are used daily in banking. The company may give you a case study and ask you to evaluate the case. The last series of question that you will be asked are fit questions to determine whether or not you will fit into the company’s corporate culture.

There will be one question that will be the hardest one that you will be asked during this marathon interview process. This one question will quickly separate the potential hires from the rejects. That one simple question is:

“Why do you want to work in banking?”

This one simple question sounds very innocuous when you first hear it. Yet the point of the question is to determine whether or not you have what it takes to be successful in the highly demanding field of banking. It also highlights whether or not you have the dedication and drive to make it in the banking industry.

How you answer this one question will usually determine whether you are invited back for a second round of interviews or you are rejected on the spot. Successful candidates spend a lot of time on preparing their answer to this question. You want to emphasize your interest in the industry, how well you understand the market, what skills you bring to the position and what you are willing to do to be successful in the job.

Before your interviews make sure you prepare you answer for this one question. It may be the difference between being hired and being rejected.

Next, I have put together perhaps the greatest gift of all times. Click here to get my 7-day free investment banking online course on 5 secret strategies to double your chances of getting an investment banking offer.