Commercial Paper
Badges: 21
Report Thread starter 7 years ago
Okay, hey everybody
I'm basically just looking for some advice really. I'm going to try and keep this fairly short, please ask for more information if you need. Basically, short and simple, I want to go into investment banking after university. I'm transitioning into upper sixth. I sort of missed the insight days and stuff for this year round but am going to apply like crazy next summer. I want to go down the whole university, do some internships and placement year, become an analyst, leave, do an MBA, come back as an Associate type route. So for the time being, I was wondering if there was anything I could do to enhance myself such as work experience? I mean, is it even possible? I don't really know anyone who can get me anything. How do you go about getting work experience at an investment bank? Write? Phone (often found in the past they have no idea) Literally go in and ask to make an appointment, speak to someone? Failing getting work experience in an investment bank, what about the head office of other big businesses or finance firms? Again, is this possible and how do I go about it? I know some big companies offer work experience at head offices sometimes, so how do I get in? Would this enhance any applications in anyway? What companies and investment banks are open to this if any? And what is the best way to approach them and ask? And will the Olympics affect this? I live about a 40 minute train journey from the City of London so anything near there is good really

Thanks if anyone can give some advice/help me with this, without sounding too desperate..I'm really desperate for something. I really want to do this. I'm worried I'm not going to make the 'cut'. Apart from a lack of related work experience, insight days etc, everything else is good in terms of academics and stuff.

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Badges: 0
Report 7 years ago
There are a load of divisions within investment banks, so I'm just assuming here that youre talking about traditional M&A rather than S&T roles (although it doesn't really matter).

Firstly, most investment banks will only take interns who are in their penultimate year of uni, unless your dad is a client of the bank, or knows the chairman etc.. In any case, almost all IBs ask you to apply online..

Essentially, you fill out a load of details about grades, personality etc, and a few essay type questions, and if they like you, you'll get an invite to online testing (some firms just send test invites immediately after you appy). Usually you'll get a numerical test and verbs, reasoning test, sometimes a logical test too. If you get a top score (often 90th percentile or something), then you'll get either a phone interview, or more commonly, face to face interviews at the office. Just a quick competency interview with HR usually, and another numerical test, and sometimes a case study. Do well and theyll invite you to an AC (assessment centre) - more interviews, now with VPs, MDs etc, more tests and presentations/case studies.. And if you impress them there, you'll get an offer, or another round of interviews at some banks. Usually 100+ applicants per place (literally).

Until then, any finance-related work is good as something to add to your CV. Degree-wise, accounting and finance is useful, or economics, or maths. Others can still get you an offer, but you'll have to work a lot harder to come up with your 'story'.. S&T won't accept anything non-maths/finance related, as you obviously need to be super quick with numbers and stocks etc. Read up on news stories in the industry, and do your research - banks hate it when you don't really know what you're applying for! And 'I want a lot of money' is absolutely a thing to avoid saying, although it may be true. A number of people say the hours are not just long, but 'soul destroying'.. Which is pretty much the case!

For placements, all BBs (bulge brackets) will have some places, smaller firms probably will have internships only.

You may decide its not for you in a few years anyway, but if you do want to break in, make sure you get pretty much straight A's at A-level, and a 2:1 or higher degree from a top uni.. Most banks only take students from the top 5 or 10 unis in the UK - so work hard and aim high!

Okay, that was quite long.. Hope that kinda makes sense/helps!

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