How to get an entry-level job in investment banking - Business Insider

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How to land an entry-level role at a major investment bank, according to industry veterans and recruiters

, a firm dedicated to helping people get careers in investment banking with locations in New York and Toronto.

As a securities lawyer, Cassel always conducted deals, but he noticed his investment banking counterparts were making more money and hoped a switch in careers would mean fewer hours. But this is what drove him to seize the opportunity presented to him by one of his investment banking clients. The skills he had as a securities lawyer were transferable and made for a quick learning curve, Cassel said.

"Much of that work is relationship-based, although calculation of the value of instruments does play a role," Shreve said. "However, these calculations require less mathematical knowledge than those required in sales and trading." Another possibility is asset management, which is about managing customers' money. Traditionally, investment decisions were made based on fundamental research about individual firms, but increasingly they're made based on statistical analysis of market data, Shreve said. For asset management, the appropriate preparation has shifted in the last 20 years from finance to mathematics and statistics, he added.

"Take the time to prepare for each interview," Spencer said. "Understand where a firm sits in the broader industry and research each firm to understand the type of work they do. They all have varying specialities, service offerings, and cultures."

 

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