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Corporate investment banker: Entry requirements

Investment banks are interested in graduates from all disciplines, not just those with finance-related degrees. Standards are high and companies usually ask for at least a 2:1 degree with a strong, consistent, academic performance. They often specify a minimum number of UCAS points.

Entry without a degree or HND is not usually possible.

Selection is competency-based. Candidates are assessed on their ability to demonstrate a range of the skills considered desirable by the sector. These include:

• proven strong numerical and analytical skills;
• excellent teamworking and team leadership skills;
• communication and interpersonal skills;
• project and time management;
• dedication, energy and commitment;
• self-confidence and ability to make difficult decisions;
• the ability to work under pressure and to cope well with stressful situations.

Employers also look for commercial awareness and knowledge of financial markets. A second language may be useful, but is by no means essential.

The recruitment process normally has several tiers: an online application form, numerical (and often verbal) reasoning tests, first interview/assessment centre, and final interviews.

Competition for positions is fierce. Some investment banks receive 9,000 applications for around 150 places per year. This means, on average, there are around 60 applicants per position. Around 7,500 of these applicants do not make it past the initial application stage, so preparation and planning are essential if you want to succeed at each of these stages.

Completing an internship with an investment bank is a valuable way to improve your chances of securing a job. Most investment banks offer some of their interns full-time positions, with some banks offering jobs to between 50-90% of interns. The application process is similar to that of graduate schemes. Internships are normally open to penultimate-year students.

Experience gained in back office functions within an investment bank also demonstrates a long term commitment to working within the investment banking environment. Part time work or holiday work within your chosen organisation can also be very valuable especially at selection stage when employers are looking for ways to differentiate between the candidates.

Some investment banks accept applications from students who require a work permit. You should check with the individual organisation.

Many of the investment banks have a strong presence on university campuses, posting vacancies through careers service bulletins and websites, holding presentations and attending recruitment fairs. Details and dates may be found on company and careers service websites.

Some organisations expect candidates to find out about them and research the opportunities available and as such do not advertise heavily. This is partly because their schemes are usually oversubscribed but also because they like to see the candidate’s commitment and determination in finding a job within their organisation.

For more information see work experience and find courses and research.

AGCAS

Written by Tara Christopher, AGCAS

Last updated:

July 2010

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