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While a degree in finance, economics, or related fields is highly sought after, investment banks will hire candidates with a diversity of backgrounds, especially in STEM fields. To develop these skills, take classes in finance and economics, regardless of your major. Maybe even more important than your major is your GPA.
The more significant equity research vs. investment banking differences relate to recruiting and careers , including points such as the compensation and exit opportunities. If you do IB, you can get into deal-based roles ( private equity , corporate development , venture capital , etc.), bulge bracket research team to startup PE firm).
Unfortunately, it’s not quite that simple – due to massive competition, a fairly involved recruiting process, and low conversion rates at many banks. Expectations for technical skills and work experience are lower, but the process is more random than normal internship recruiting and depends on fit, grades, and activities.
Almost nothing is worse than recruiting for investment banking internships , winning an offer, preparing , completing the internship, and then not getting a return offer. All the large investment banks – bulge brackets , elite boutiques , and middle-market firms – use internships as a recruiting tool for Analysts and Associates.
How to Recruit for Distressed Debt Hedge Funds The best background is restructuring investment banking because the skill set is directly relevant. But you could also move in from Leveraged Finance or an industry group that does frequent debt deals. A few of these funds specialize in distressed (e.g.,
But then recruiting moved up, the MBA process became more structured, and now we have 4-year-olds aiming for “Target Kindergartens” so they can eventually get into investment banking ~15 years in the future. There’s a huge variance in individual internships in terms of recruiting effort, pay, and on-the-job tasks.
How to Recruit for Commodity Hedge Funds and Other Trading Roles If you want to be a commodity trader, there are three main paths into the industry: Start at a large bank in a commodity-related group within sales & trading. Among smaller firms, Macquarie is quite strong, probably because it is based in commodity world-leader Australia.
Recruiting in Wealth Management vs. Investment Banking You should know all about IB recruiting from reading this site, but it’s insanely competitive and starts very early. By contrast, wealth management is much less competitive to get into. and your odds are not spectacular.
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