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What to do in order to get a risk job at an IB?

Hi. I study mathematics and statistics at a target and I am looking to go into a career in risk management at an investment bank. I am mostly interested in market risk but credit risk is also one of interest to me.

However, I am not sure where to start. I have done some research into the career itself and what risk analysts do at IBs but I'm not sure how I can get a risk job since there is a lot of competition. I do a few extracurriculars and volunteer but I don't have much to put on my CV in terms of work experience. I know this is too early to start worrying about applications but I was wondering what I can do now to get ahead of the crowd and stand out?

Thanks!
(edited 7 years ago)

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Reply 1
Avatar for Trapz99
Trapz99
21
I believe JP Morgan offers a spring week in risk. Apply to all the general spring weeks and, when you're there, network more with the risk management guys- you never know, you might get an offer for a summer internship. Otherwise, just make sure that you continue to build up your CV by taking part in societies at uni and getting into a committee position. Make sure you do a lot of wider reading about what is going on in the financial markets and how that could affect things.
speak to alumni working in risk and gather their advice, otherwise apply to the formal programmes > spring weeks > summer internships > graduate scheme, in each of your years at university.

most of the larger investment banks would offer programmes in business functions
Original post by Trapz99
I believe JP Morgan offers a spring week in risk. Apply to all the general spring weeks and, when you're there, network more with the risk management guys- you never know, you might get an offer for a summer internship. Otherwise, just make sure that you continue to build up your CV by taking part in societies at uni and getting into a committee position. Make sure you do a lot of wider reading about what is going on in the financial markets and how that could affect things.


Not on its own, risk is grouped with the IBD SW.

Most banks will have a group functions spring week OP and some might be across all divisions. But as has been said already, there's a standard pipeline you apply to whilst at uni.

I'd go to CanaryWharfian for the basic how to stuff.

In the meantime, keep building up your CV. Try getting involved in some extra curricular activities - both at uni and now, look out for opportunities to lead, work on your presentation/communications skills, try to network with current risk alumni from UCL etc..


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Reply 4
Avatar for NickAlex12
NickAlex12
OP
14
Original post by Princepieman
Not on its own, risk is grouped with the IBD SW.

Most banks will have a group functions spring week OP and some might be across all divisions. But as has been said already, there's a standard pipeline you apply to whilst at uni.

I'd go to CanaryWharfian for the basic how to stuff.

In the meantime, keep building up your CV. Try getting involved in some extra curricular activities - both at uni and now, look out for opportunities to lead, work on your presentation/communications skills, try to network with current risk alumni from UCL etc..


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Thanks for the helpful reply. You seem very knowledgeable- do you work in banking?
Original post by serions871
Thanks for the helpful reply. You seem very knowledgeable- do you work in banking?


Nah, I know a lot of bankers (via networking) and have been pretty immersed in that world for the past 3-ish years.

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Reply 6
Avatar for NickAlex12
NickAlex12
OP
14
Original post by Princepieman
Nah, I know a lot of bankers (via networking) and have been pretty immersed in that world for the past 3-ish years.

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How did you network with them? As in how did you know of them in the first place?
Original post by serions871
How did you network with them? As in how did you know of them in the first place?


Linkedin, TSR, WSO, friends and friends of friends.

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Original post by Princepieman
Linkedin, TSR, WSO, friends and friends of friends.

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What's 'WSO'?

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Reply 9
Avatar for spoli21
spoli21
9
Original post by Gladiatorsword


Weird Sloppy Orgies
Original post by spoli21
Weird Sloppy Orgies


Ok thanks.

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Original post by Gladiatorsword


wall street oasis
Original post by serions871
Hi. I study mathematics and statistics at a target and I am looking to go into a career in risk management at an investment bank. I am mostly interested in market risk but credit risk is also one of interest to me.

However, I am not sure where to start. I have done some research into the career itself and what risk analysts do at IBs but I'm not sure how I can get a risk job since there is a lot of competition. I do a few extracurriculars and volunteer but I don't have much to put on my CV in terms of work experience. I know this is too early to start worrying about applications but I was wondering what I can do now to get ahead of the crowd and stand out?

Thanks!


Just out of interest, why risk and not a front office role or a risk consulting job at a big4? The pay isn't good for risk at banks...
Original post by squish562
Just out of interest, why risk and not a front office role or a risk consulting job at a big4? The pay isn't good for risk at banks...


It's still better than big4 pay...

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Original post by squish562
Just out of interest, why risk and not a front office role or a risk consulting job at a big4? The pay isn't good for risk at banks...


The pay isn't that bad. Around £40000 for first years and £70000 for VPs isn't really that bad compared to most jobs- it's only front office banking, corporate law, the other high finance stuff like AM, engineering (outside UK), high tech, medicine (outside UK)and some consulting jobs that pay more than this.
Original post by Princepieman
It's still better than big4 pay...

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Yeah but at the big four the job doesn't involve being shouted at and bullied by traders lol. There was an article one financial careers about the most stressful jobs in finance and risk was right up there next to M&A
Original post by Ladbants
The pay isn't that bad. Around £40000 for first years and £70000 for VPs isn't really that bad compared to most jobs- it's only front office banking, corporate law, the other high finance stuff like AM, engineering (outside UK), high tech, medicine (outside UK)and some consulting jobs that pay more than this.


O&G engineering is in the UK too.. But yeah, most grad jobs (other than what you've said) pay less than MO/BO.

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Original post by Ladbants
The pay isn't that bad. Around £40000 for first years and £70000 for VPs isn't really that bad compared to most jobs- it's only front office banking, corporate law, the other high finance stuff like AM, engineering (outside UK), high tech, medicine (outside UK)and some consulting jobs that pay more than this.


I think it's actually around £90-100000 range for VPs, £65000 for associates.
Original post by Trapz99
I think it's actually around £90-100000 range for VPs, £65000 for associates.


Sounds about right for all-in.

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Original post by Princepieman
Sounds about right for all-in.

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I got it from here: http://news.efinancialcareers.com/uk-en/173218/top-five-best-paid-jobs-risk-management-globally-five-years-experience/

It also suggests that pay depends a lot on the bank as well
Apparently JP Morgan, MS and DB pay more than the others

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