Advice for Students Aspiring to Enter Banking (Insights from a BB Banker)
I’m sharing this to address the repeated questions popping up in this sub regarding how students can successfully break into banking. The same themes recur, and it’s getting a bit tiresome, honestly. Below are some key points, and I’m happy to expand on any of them in the comments.
Networking: This is crucial. Whether you’re from a target school, a non-target, or have a ton of experience, you won’t get interviews without some form of reference. If you’re one of those who has had countless networking calls without landing an interview, it might be time to reassess your approach. Be friendly but know when to stop talking about yourself. Avoid asking generic questions like “What do you think will happen with the economy or interest rates next year?” Don’t recite your high school achievements, and please, no excessive flattery about me or the industry—we’re all just trying to get through the day.
School: Yes, GPA is a factor, but it’s not the most important one. Get involved in clubs—most schools have at least one investment club known for good placements. Join that and one or two others, and also find a club outside of finance that you’re passionate about. Recruit with peers, attend all networking events, and most importantly, take time to enjoy yourself. If you’ve been fixated on IB recruiting since you were 17, I might see you as someone who’s a bit too intense, like you’re living in a Wall Street fantasy. Use your first year to explore various paths; if banking isn’t for you, then great! You’ve saved yourself a lot of stress. If it is, then dive into networking after your school year ends.
Interview Preparation: Utilize breaking into Wall Street (BIWS) guides as your study resource. It’s not enough to memorize answers; you need to understand the underlying concepts. We often adjust our questions to gauge your knowledge. Stay updated through resources like WSO and newsletters such as Morning Brew or Exec Sum. Prepare a concise stock pitch or discuss a recent M&A deal the firm handled (keep it to about 90 seconds). You should also be able to explain a paper DCF, M&A, and LBO in a minute or less while conveying your thought process, especially for super days or later rounds. Don’t forget to study in enjoyable ways! finance becomes interesting when you discuss it with friends—relate it to real-world situations, and utilize modern AI tools to clarify concepts.
Be Authentic: Every candidate will have a strong academic background, finance club involvement, and internship experience. However, they are not you. Make an effort to weave your personality into your responses during interviews so that you stand out after a long day of interviewing nervous candidates. For instance, I tied my “why banking” answer to my passion for F1 racing, sparking a 15-minute debate with an MD—this conversation was memorable, and it played a big role in landing me the job.
Stop Comparing Yourself: There will always be someone who seems smarter, wealthier, or more charismatic. You’re on your own journey, and they’re on theirs. While it’s easier said than done, particularly in an environment full of competitive business students, the truth is once you start working, no one cares about others’ internships. That freshman who scored an IB internship? He could have connections; it’s not always about merit. Focus on your journey, and don’t let comparisons diminish your accomplishments.
Just Secured the Job? Don’t Get Complacent!: Enjoy the celebrations, but maintain professionalism. Avoid excessive drinking at happy hours, flirting with colleagues, or making inappropriate jokes. Your internship is essentially a pathway to full-time employment, and the expectations are high since you have a fixed term. Aim to outshine others—arrive early
One response
Wow, what an incredibly insightful post! Thank you for taking the time to share these valuable tips for students eager to break into banking.
Your emphasis on networking really hits home. It’s true that building authentic relationships is key; it’s not just about the quantity of calls, but the quality of those interactions. I appreciate your advice on being personable while respecting the interviewer’s time. It’s refreshing to see the call for genuine connections rather than rehearsed pitches.
I also completely agree with your point about school involvement. Balancing academic performance with engaging in clubs and activities is essential. It not only enhances one’s resume but also fosters important soft skills and networks that are invaluable in banking.
Your perspective on interview preparation is spot on. Understanding the concepts rather than rote memorization distinguishes candidates who can think critically and adapt during discussions. And the suggestion to incorporate personal interests into interviews is a brilliant strategy! It’s a memorable way to stand out amidst a sea of similar backgrounds.
Thank you for reminding us not to compare ourselves to others. It’s so easy to get caught up in what others are doing, but focusing on our own journey fosters a healthier mindset.
Finally, your insights on conduct during internships are invaluable. It’s a harsh reality that the internship is essentially an extended interview, and professionalism is critical. Your emphasis on hard work, learning from mistakes, and showing a willingness to improve is something that will resonate with anyone entering the field.
Thanks again for sharing such practical advice! I hope many students take this to heart as they navigate their paths into banking. If I have any questions, I’ll definitely reach out!