''Investment banking'' is a rather modern term, implying an organization that has expertise in raising capital by issuing new securities in the primary market or bringing together buyers and sellers of existing securities in the secondary market.
The economist Richard Tilly states, ''The key element of universal banking is the institutional mixture of the commercial loan and deposit business with investment banking.''
Specifically, an investment banker serves as an intermediary between clients who need capital and clients with capital to invest. Investment bankers help customers raise and invest capital and counsel them on strategic matters, including mergers and acquisitions, outside financing, takeovers in the secondary markets for corporate control, and restructuring transactions.
For many aspiring investment bankers, trying to land an interview is one of the most frustrating aspects of pursuing a career in the field because they feel it is something over which they have no control. But that’s a totally incorrect assumption. Developing networks and strong contacts in banking and having a professional resume are the building blocks of your strategy.
There are four fundamental questions that an investment banker should ask in order to start an effective job search:
- Who do I know in the industry?
- Which of the processes are available to me?
- What should I do to build additional affiliations?
- What achievements should I highlight on my resume?
Since you do not want your resume and cover letter to be passed over, you should highlight these characteristics:
- Strong analytical and leadership skills and willingness to accept challenges
- Strong communication skills and willingness to learn quickly
- Long-term commitment to the banking profession and a personality fit with the hiring firm
- Stellar attention to detail and demonstrated teamwork skills
- A clear understanding of the job profile, expectations, and grueling lifestyle of an investment banker
Remember that your resume reflects you and may be the only reference point the hiring firm has when determining whether to invite you for an interview. So more than anything else, highlight your strong interest in finance and why you are qualified to be an investment banker.
