By On Feb 17, 2020 Templates
Because the analyst and associate jobs are entry-level roles, the investment banks care a lot about your interest in finance. They are trying to figure out whether this is something that truly interests you. The rationale is that candidates who have exposure to investment banking know what they are signing up for. They have a sense of what the job entails. Banks care about this so they can hire people who enjoy the work. Employees who enjoy the work will add a lot more value than those who dread it. You demonstrate interest in investment banking by having finance credentials on your resume. Things like academic major, school coursework, online coursework, internships, clubs, books, competitions, etc. It is a lot less risky for the banks to hire someone who has a demonstrated interest in finance than someone without any finance background. This often seems strange to candidates who are fully committed to investment banking. Are not everyone applying to investment banking passionate about finance? The truth is, banks get a ton of applications from people who just apply without knowing much about the job. People who learn about investment banking last minute and decide to give it a shot. It is very risky for the banks to hire these people even if they have a history of excellence because they can quickly realize they do not like the work. By looking for proven interest in finance on the resume, the banks can screen them out.
The most important characteristic banks look for is a history of excellence at whatever you do. It does not have to be about academics or finance. You can show excellence in anything you are passionate about. It can be soccer, violin, dancing, stand-up comedy, scientific research, YouTube channel, etc. Everybody has different personalities and bankers understand that. So the focus is not about what your hobbies are or what your major is. What they care about is whether you can excel at whatever it is you enjoy doing. Why does this matter if it has nothing to do with finance? Because the underlying personal characteristics necessary to succeed in any field are largely the same. Excelling in any area usually requires you to put in significant time and effort. It requires a mixture of hard work, concentration, memory, discipline, perseverance, organization, etc. These are all personality traits necessary to succeed in finance. Now, you might not definitively succeed in finance with these characteristics, but you’ll certainly fail without them.
No matter what stage you are at in your career, a cover letter is an important document to demonstrate your experience and fit for the position you are applying. It is a way to explain specific scenarios and call out essential skills that are not already covered in your resume. When crafting the content for your cover letter, it is critical that you keep it concise, even leveraging bullet points to point out key messages. The hiring manager does not have time to sit down and read a memoir, they may only have a few short minutes to review your application in its entirety. When you are a recent graduate applying for an internship or early in your career, your cover letter should contain appropriate scenarios that demonstrate your ability to perform the responsibilities listed in the job description. Refer to a time you took the lead on an important project or how you introduced a new system to improve productivity. Once you get more experience, your cover letter is a great place to call out key statistics and sales growth numbers, because you will have more measurable results to draw upon.
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