Have the Skills
Obviously, as with any job, the fewer available positions there are the more competition you have to prevent you from achieving one of those positions, and employers tend to look at applicants with experience and the best skills. It is even more important in investment banking. Investment banking employers are looking for superior financial skills and experience in the most essential forms. The key is to find the edge on your competitors and acquire the skills of investment banking that you cannot learn in school or books, but that come from experience.
Investment banking involves financial abilities as well as social abilities. Not only should you be knowledgeable about the economic aspects of investment banking before applying for a position, but you should also be able to offer yourself as an interpersonal businessman or woman that can work efficiently and productively with fellow employees and clients. Below is a list of skills and their required amount of talent needed for success in investment banking:
| Key Skill Area | Requirement |
| People Skills | High |
| Sales Skills | Medium |
| Communication Skills | High |
| Analytical Skills | High |
| Ability to Produce | High |
| Creative Ability | High |
| Initiative | Medium |
When to Send Your Resume
Hiring in investment banking usually occurs around January and February, so the best time to send in your resume is November and December, their reviewing period. But do not stop there. Be persistent and contact many banks and influential people to make your name known. Every bank is different, so varying approaches towards each person and bank are helpful. If you continue to make employers aware of you, you could land your dream investment banking job in the late spring and summer months when many positions tend to open up.
Global and Internet Opportunities
America is not the only country that incorporates investment banking. Positions in Hong Kong, Bulgaria, and even Africa are available to determined investment banking seekers. Positions in oriental countries especially are being moved around due to the Asian financial crisis in 1997/1998 when many employees quit. Now the market is on an up-rise and employers are looking to fill empty investment banking positions. You could expand your cultural horizons as well as your pocketbook. Also, investment banking has become a rising trend online and new companies and positions are opening up all the time. Opportunities in online stock and bond trading are especially hot right now. The growth potential in this area of investment banking is extremely high and rewarding.
Choosing Your First Firm
If you are new to the investment banking world, deciding on the firm you will work for is an important one in the scheme of your career. Be sure you are comfortable with the ethics, values, and practices of the company you choose. “Career jumpers” are highly frowned upon and you are less likely to get hired by a reputable investment banking corporation if you have jumped from firm to firm too often because your loyalty will be in doubt. Many banks now have a tendency to avoid hiring outside to avoid such jumpers.
By Monica Drusch