Why People Become an Investment Banker | Boris Goldstein

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Why People Become an Investment Bankers
Boris Goldstein
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While You Are in College
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Choose A Banking Related Major
There is no investment banking major, so an
individual must pick from an investment
banking-related major such as finance, economics,
business or accounting. Any of those majors
should be fine. Having said that, increasingly
banks accept and look to attract students with a
mathematics or engineering background. The
assumption is that students comfortable with
quantitative sciences will find finance
relatively easy to grasp.
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While you are taking your classes, brush up on
your spreadsheet and presentation skills.

• Investment banking is about being smooth with
  numbers. The right classes are great practice.
• Make sure you are creating presentations
• with spreadsheets attached.
• Microsoft Excel and PowerPoint are
• mainstream. Don't spend as much time
• with alternate programs.

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Get A Summer Internship

• The best thing you can do to get an investment
  banking job right out of college is to get a
  summer internship at an investment banking firm
  before graduating.
• Try for the big investment banking firms such as
  well known firms in New York or London. Getting
  an internship at a smaller investment bank is
  really just about as good. These firms are called
  Boutique Investment Banks and exist in many
  cities.
• There are many reasons why a smaller bank may be
  easier to get an internship at. It may be in your
  town. There may also be a firm that is more
  specialized to what you have done. (For example,
  say you have interned at an airline. There are a
  couple boutique firms that pretty exclusively
  lease aircraft.) There may also be less
  competition. Lots of students haven't heard of
  the boutique firms.
• You can also get a summer internship at a regular
  bank (not an investment bank). That is not quite
  as good, but would still give you a huge leg up.

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Hit The Networks, And The Social Networks

• Like anywhere, getting to know people outside of
  the interviews works great.
• Join the investment banking club at your school,
  if there is one. That is a great way to network
  with potential employers.
• Join Linkedin groups for investment banking.
• Talk to alumni from your school that have
  recently joined investment banks. You can contact
  them via Linkedin or Readyforce or even Facebook.
  Ask them to lunch or a phone call if you are
  remote.
• Dont be afraid to travel to another city to meet
  people, if it will help you find better leads.

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When in Graduate School
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Know That If You Are In MBA School
Many banks will come to your school to recruit.
Make sure you network like crazy when the banks
come visiting your school. Get business cards and
follow up.
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Search out boutique banks
Smaller banks are often not visiting your school.
Seek them out via your favorite social network
site. Remember, there is a sales element to
investment banking, so they respect and admire if
you have the guts to call them up.
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If you are in graduate school that is not an MBA
program

• Investment banks love smart people from other
  disciplines.
• Make sure you contact the career center people at
  the business school of your university and use
  them as a resource! They can help you find the
  right career nights.
• Realize you need to prove your business smarts
  and look the part. If you are in social sciences,
  prepare to show you can use a spreadsheet like a
  wiz.

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