(advice on how to get a job in Investment Banking…and Venture Capital and Private Equity too.)
If you attend a “target school”
When banks recruit new analysts each year, they typically focus on a handful of target schools that they recruit at year after year.
These schools usually include the Ivy Leagues plus other Ivy equivalents such as Stanford, MIT and Northwestern and top public
universities such as UC Berkeley, University of Virginia, UT Austin, and University of Michigan.
For these target schools, this is
how the process works:
Students submit their resume through their school’s on-campus recruiting site (usually a custom portal hosted by online recruiting
companies like Monster.com or Nacelink.com) during the beginning of the fall semester (deadlines are specific to each school)
Investment banks review these resumes and typically select anywhere from 10-50 students to interview on campus, depending on
the specific firm and school.
The banks usually predetermine the number of interview slots they want to make available for each
The investment banks travel to these schools to conduct the first 1 or 2 rounds of interviews on campus at each school’s career
center or at a nearby hotel
If you get selected for an interview, you will usually have one 30-minute interview, which counts as your first round interview.
This interview is usually conducted by an associate or vice president.
Sometimes there will be 2 people interviewing you at the same
In this situation, it could be any combination of a vice president, associate, or current analyst interviewing you.
first interview, some banks will also host a pre-interview dinner the night before.
This is basically the firm’s opportunity to get to
know the candidates on a less formal basis as well as answer any questions the students may have.
This is actually a really important
opportunity to make yourself stand out and impress the firm
Some firms will immediately conduct a second round interview on campus the next day as a way to further narrow down the pool
After you pass the on campus interview process (whether it’s 1 or 2 rounds), you will then be invited to the firm’s offices (firms
will pay for your flight and hotel room) to participate in “Superday,” the final round of interviews.
During Superday, you will be at
the firm’s offices, along with other top candidates, for a full day of interviews.
You will usually have 4 or 5 interviews lasting 30-45
The night before Superday, there is again, often a dinner where you’ll mingle with current investment bankers at the
While this may be marketed as an opportunity to ask questions about the firm and the job before Superday, banks see it as an
opportunity to determine if your personality fits within the culture of the firm.
In fact, at my firm, a lot of input about potential
candidates comes from our interactions with students from the dinner the night before Superday.
The questions we’ll ask often