Investment Banking: The land of the exit opportunity.
Most bankers don’t go into investment banking thinking it will be a lifelong career. Most are simply using banking for the skills and the exit opportunities.
I’ve discussed the investment banking path to the buy side in the past, but what exactly is investment banking and how do you break in? Fortunately, I have an interview just for you with an experienced Vice President in investment banking who will answer these questions and much more.
Among the topics we tackle:
- How to break in as an undergraduate
- How to break in as an MBA (hint: become a helicopter pilot)
- Learn about the investment banking interview process and “Super Saturdays”
- Investment banking compensation (Hint: it starts high and then goes higher)
- Exit opportunities (No IB discussion would be complete without it)
Everything you ever wanted to know about investment banking, starting now …
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LBS Note: This article is an adaptation of M&I’s How to Tell Your Story in Investment Banking Interviews in 5 Simple Steps. I’ve adapted the content for buy side interviews (hedge funds and asset management firms), but the lessons apply to sell side equity research as well. And, not to be outdone by Brian, I simplified the steps even further to just 4 steps.
Begin interview at a top hedge fund …
“Walk me through your résumé.”
“Tell me a little about yourself.”
Ugh. The open-ended start to every interview ever given. And yet, it’s probably the most important question of any interview at a hedge fund.
First impressions matter, so nailing this question with confidence is the key to a successful interview. Stumble and there’s almost no recovering.
Lucky for you, most candidates are not good at answering this question. The average candidate typically falls along one of two extremes: either they fumble over their words like a big offensive lineman trying to pick up a loose (American) football, or they recite a manufactured speech like a child’s wind-up talking toy. Both are bad.
Luckily, with a bit of preparation, the “tell me about yourself” answer is as simple as 4 easy steps:
- Your Background
- Your Investing Experiences
- Why You are Here
- Where Do You See Your Future
See, just as I promised. Four simple steps when Brian thinks it takes five. Overachieving banker. Now, on to the four steps…
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