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Hello everyone and welcome back to high finance graduate in this video We are going to talk about how you can break into Investment Banking in three simple steps So for those of you that are interested in investment banking or considering a career in investment banking? Then you might want to pause your funny cat video and take a break from the new Taylor Swift album taking wait and take out your pen and notepad because this video can arguably change your career and Not only that, but we are also going to be talking about the alternative career opportunities Which you have so if Investment Banking is your plan, A, but unfortunately Not everyone is going to be able to break into investor banking We are also going to be talking about what to do for your plan B for your Plan C and some of the career alternatives Provide the same level of compensation that investment banks provides the same level of career prestige and the same exit opportunity so before we begin for those of you that prefer to read on how to break into Investment Banking then Go ahead on our website to where you can see a full length article Which I've written on how to break into us and banking in three steps now initially I did not want to make this video because trying to break into investor banking is going to be very different for everyone depending on your current situation So how good are your grades how good are your works perience your extracurricular activities as well as where you want Well, if you are in Australia, then there are no so Co recruitment processes But if you're in Northern Europe where there is a very strong bias towards finance candidates Which does not exist across the pond in North America, but over there, you'll find on-campus recruitment events You'll find super days and there is a strong alumni culture which you can tap into for networking events Which does not exist in the UK where the only way to break into major banks are via online recruitment portals Again, depending on where you are depending on your permit situation. It's going to impact how you break into investor banking so when I first made a video on how to break into a mess, and I think it was over three hours long and During edit I had to stop because it was boring so instead I decided to make a series on how to break into Investment Banking and this being the first video which is going to be the anchor which is going to Outline the three main ways or three steps which every single one of you need to take You know to break into investor banking the subsequent videos after this are going to cover profiles So how do you break into investment banking if you got poor grades if you don't have any work experience? But nonetheless the three steps which we are going to talk about in this video is how everyone should approach breaking into Investment Banking So let's get started Step number one is the requirements There are seven basic requirements bankers look for whenever they are recruiting for a new intern Analyst and associate if you do not fulfill these basic requirements It's going to be very difficult for you to break into investor banking now. We are going to cover or seven of these later on Step number two is the pre recruitment preparation. We're just going to call it prep Preparation is essential essentially if you can do a good enough job here, even a Monkey with half a brain cell with just okay grades and just okay work experience can pretty much beat a candidate from the best university with some of the best grades So it's going to be very important that you spend a lot of time here and essentially we are going to be spending a lot of time on the pre recruitment preparation because it's how You're going to easily break into investment banking So now finally step 3, which is the entry route Now depending on how old you are how good your grades are how much experience you have You're going to have to approach Investment Banking in a specific way So if you're still a student, then you're gonna have to go for an internship or if you've just graduated but if you just graduated with an undergraduate degree Master's degree or if you have less than two years worth of work experience Then you can go for an analyst role or else you're gonna have to go for the associate but each one of these routes are slightly different and Sometimes you might have to prepare for them in different way. So essentially step two and step three on the loop So now let's get started with step one Let's talk about the seven specific criteria, which you need in order to break into Investment Banking number one is a track record of achieving or Winning and it doesn't have to be from an academic background. It can be from anywhere It could be from a professional background. It could be from sports it could be some anything whether you have a scholarship or whether you've maintained a 4.0 GPA whether you've been Given an award at work or whether you want some random tournaments in Europe about some random sport It doesn't have to be it doesn't have to be academic related It could be anything The idea here is we want you to demonstrate that you can't achieve We don't want someone in the interview to tell us that they are going to be the best Candidate they are going to be the best analyst they are going to work the hardest we want someone with a proven record of achieving Second is good grades Now a lot of candidates are confused by what we mean by good grades and we look at grades not to measure your intellect But to measure your drive the reality is if you're from a finance background that is easy for you to ace a finance class But how do you perform when I say I want to say no in finance class or how do you perform if you don't get? Along with the professor or how do you behave if you don't get along with a group that you've been assigned to and in order, For you to maintain a high grade or high grade point average means that you've performed really well Even in classes that you didn't necessarily like even with professors who you don't necessarily get along with and that's exactly what we look for in investor banking because You're not going to enjoy every project you work on but we still need you to perform really well at every single task number three is Extracurricular activities and work experience here. We're looking for candidates with more than just the basics We don't want a candidate that just did the basic I just went to university and did their degree and they left one a candidate that also took part in Extracurricular activities and not just took part but also took a leadership role a position of responsibility because then it shows that you're able to juggle or do multiple things at once because in investment banking You're going to be working on multiple projects at once and we need to know that you can excel at each of these tasks individually as well as Combine even when you're under pressure fourth is Demonstrating your interest in investment banking. Now, there are multiple ways which you can do this, but all you be the easiest way is to demonstrate to the Interviewer that you are aware of the investment a lifestyle that you know About what investment bankers do on a day to day basis the actual work the actual deliverables and you can easily do this was answering interview questions and the way you get this information is by Well essentially by watching these videos on this channel or by going on our website or guessing the investor banking recruitment guide which we have number five is Intellectual capacity now the job of an investment banker is not difficult. It's not brain surgery The reality is you can train a monkey to do whatever what's an investment banker does and that monkey will probably do it even better because That monkey isn't gonna complain every five minutes now you might get a banana thrown at you sometimes but I guess that's just the cost of doing business with monkeys, but that said Investor banking is not difficult The hardest thing about investor banking is being able to perform at a high level for a prolonged period of time That's it. So what we mean by intellectual capacity We're looking for candidates that can perform for a long period of time and what we mean by this is are you able to perform? analytical work for a long period of time so Has there been a time where when you had multiple course works doing alongside exams? And did you have a deadline in your personal life as well? So something like that So something stressful that caused you to work for a long period of time and you were able to excel at at those tasks number six is Technical knowledge now the best way to demonstrate your technical proficiency is by acing the technical section of your interviews Now we are going to talk more about this in part two of the preparation But essentially you are going to have to answer the technical interview questions in order interviews now i've highlighted the technical knowledge because it's very important that you aced a session what separates Successful candidates from non successful candidates is often the technical knowledge number seven is communication skills now this is arguably one of the most Overlooked section of their interview whether you like it or not You are eventually going to have to communicate with clients And this is arguably far more important for the associate and the analyst and interns but nonetheless You are eventually going to have to communicate with clients and we need to be able to trust you that you won't embarrass us So we need to know that you can coherently Articulate yourself during the interviews and again during the interviews. We don't just check for technical knowledge. But we also check that you can communicate To the point where if we leave you in front of our client, you're not going to be this awkward little specimen That's just going to embarrass us. We need to know that you can have a conversation so Those are the same requirements I pretty much written a full length article detailing all of this as well as a video coming out either before this video or after It which I go into a lot more detail on each of these seven requirements which bankers look for in a new intern Alastor associates but essentially Assuming you have all of this. We're now going to move on to section 2 So now let's begin with section 2 or step 2 Which is your pre investment banking recruitment preparation now? the more time you spend here the easier it would be to actually land a job in Investment Banking and Like the same goes if you fail to prepare then prepare to fail So that's a prepare so you can avoid failing and let's start with the first part which is getting relevant work experience how to get relevant work experience and what type of work students count for Investment Banking the type of work spurius which bankers look for whenever they're interviewing a new candidate is Similar type of experience that you would get working at the role, which you're applying for So if you're trying to break into a investment banking then ideally previous work experience working on a live Transaction as an investor bank would be ideal But that's not the only area which will give you that type of experience you can also get similar type of work experience working on financial modules learning about the mathematical lifestyle and learning about the responsibilities in other areas of finance for example you can get the same type of experience working in private equity where you'll be surrounded by ex investment bankers and You'll get a lot of financial modeling work experience alternatively you can work in corporate development because often a lot of the corporate development teams are clients of Investment Banking So you're going to be able to see how the other side operates as well as get experience to the live transaction and financial modeling Other areas which has huge overlapping skills are equity research hedge funds asset management where you can learn financial modeling But just be careful that those areas are very much Investor minded driven as opposed to transaction driven like private equity or corporate development So in areas, which has a lot of overlapping skills Make sure you get those skills and make sure you communicate that well on your resume Which is what we're going to look at after this, but nonetheless there are other areas Which you can get those skills. You can also get a lot of experience in valuation and a big four and VC fund specifically late stage VC funds are not early-stage at a late stage VC fund you're going to get a lot of experience building financial modules and Getting in touch with investment bankers to take some companies public So those are a couple of the areas which you can get relevant work experience Now we can also go one step further if you're going to go into mergers an acquisition You can also get a lot of works variants at a law firm Working on the back end or the legal end of an M&A deal But if you're gonna go into the restructuring team as an investment bank, you can also get relevant experience working in management consulting So it really does depend on the type of role Which you're applying for whether is M&A capital markets restructuring leveraged finance and the type of skills Which is required in those roles But essentially all of the areas that I mentioned does provide a lot of overlapping skills And we have hired a lot of candidates from those backgrounds So now let's talk about something which often gets overlooked by candidates some candidates have a lot of work experience on their resume But they're not related So for example, someone could have an internship at an engineering firm then as an architectural firm Then asked a software engineering firm and now they're applying for investment banking because this candidate is so scattered It's a red flag So sometimes it's even better to remove some unreal event work experience from your resume as long as it makes sense We want to see a clear progression of what led you to Investment Banking Some candidates had previous work experience at an engineering firm Where they met investment bankers which sparked their interest in investor banking which is what led them to then apply for an investment banking role So it doesn't really matter about your previous work experience as long as it is relevant And it has some type of link to what you're going to be applying for next But ideally if you can't get a summer internship as an investment bank, that would be great So now let's move on to the next section of writing and effective resume and cover letter When it comes to writing your resume and cover letter it's extremely important that you get this right because this is going to be the first Impression that the hiring manager all the investment banker is going to get on you So there's no point making or just sending a regular finance resume. It has to be investment back in specific The reality is as investment bankers. We get resumes on a daily basis We get resumes like strippers get dollar bills So it's really important that you know how to differentiate it when we walk into the office every morning We get tenure resumes in our inbox by the time you come back from lunch another 20 new Resumes now inbox by the time we leave we've already had a hundred new resumes in our inbox So if you don't make your resume investment-banking specific by using specific words a specific structure We'll know because of how many resumes before you gone through. So the question is, how do you make an investment banking specific resume? It's pretty easy Investment banking resumes are not that complicated like I mentioned before in the section of work experience. We want to see Relevant work experience. So you have to communicate everything on your resume in a way, which makes it relevant to Investment Banking now I know that this is going to take a bit longer than a couple of minutes to explain so I am going to make a Separate video explaining this I'm going to make a video for both candidates with investor bank experience and without any type of work experience So I'm sure a lot of you can benefit for both of them as well as making an article available online And if you stay till the end this video I'll show you how you can download a free investment banking resume template Which is ready to go so stay tuned to again this video for that Now let's move on to arguably the most important part of your preparation, which is learning how to answer the interview questions This is the most important part of your preparation because this is what's going to separate you from Progressing into the recruitment stages and eventually landing the role or you failing you should treat your investor matting interview like it's the most important exam that you're going to have and Depending on whether or not you can answer the questions will influence your progress in Progressing in the recruitment stages and landing the world or you just be knocked out and failing so it's really important that you know how to answer the questions and What surprises a lot of candidates is when they learn that half of the people? Investment banking or from non finance backgrounds and they were able to beat finance candidates So just because you're from a finance background, it does not mean, you know how to answer all of these questions So it's really important that you pay attention To how to answer this question and the type of questions that you should expect as well as the answers that we expect from you Your interview questions are going to be split up between two categories Technical questions and non technical questions. No technical questions are behavioral questions and competency based questions So for example name me three strengths and weaknesses. Tell me about yourself Tell me about the time when you demonstrated leadership. Tell me about a time when you overcame a problem And what did you learn from it? Those are easy the more important questions for you to answer all the technical questions and technical questions are broken up in different categories accounting questions finance questions valuation questions mergers and acquisition questions LBO economics and brainteasers now in order for you to demonstrate Technical knowledge. It's essential that you get all of your technical questions, correct? The only way for you to properly know how to answer. This question is by learning financial modeling alternatively, you can also go and network with investment bankers and try to get them to coach you through all the questions and give you ideal answers Alternatively, you can also check out our videos on Investor banking interview questions and answers or take a look at our investment banking interview guide And recruitment guide which pretty much breaks down all the questions and give you ideal answers for all the questions but regardless of your background whether you're from a non finance background or a finance background it's essential that you learn how to ace these questions because this is What is standing in the way between you and landing the job that you want a lot of candidates from finance background they tend to? Overestimate their knowledge or what they've learned and assume that they're going to get tested based on what they've learned That's not correct A lot of the times it's often the candidates who are from a finance background who have studied economics or finance That tends to struggle the most of this because its candidates who are from a non finance background They are the one that has to be far more proactive Learning and I'm trying to figure out how to answer these questions and this is why you see so many non finance candidates in Investment Banking because they tend to post interviews Okay Some final thoughts about the interview questions and answers you have to make sure that you're prepared for your interviews There's no point working hard to get an interview and heading off your interviews unprepared you have to get all of the answers before you even set your first foot into that interviewer now guys breaking tabasum banking is not Every year there were thousands and thousands of non finance candidates breaking into Investment Banking and they're beating Finest candidates and they're doing it by taking the shortcuts by getting the answers by preparing for the interviews Things that financed candidates don't do because they automatically assume because they're for a finance background They're automatically going to have all the answers Okay, so let's move on to networking and networking is one of the ways in which you can use to get some of the answers to the interview questions Now I think networking has been completely misunderstood specifically for the investment banking recruitment stages Networking is different depending on where you are in some part of the world If you're in North America where there is a very strong alumni culture Which you can tap into in order to actually get information sections to get advice to even get a job interview That's possible in North America, but in Europe in other parts of the world That's not really possible for bowed back the banks because the recruitment styles are completely different in Europe You can only break into mass and banking but specifically for both backing back to the larger bank by applying online Now some of that also happens in North America But North America has a specific situation which includes networking as a way to break into the industry but nonetheless You should always network regardless of where you are because the number one priority of networking isn't to learn the job But is to help you in the process of landing the job your number one priority When networking shouldn't be to get the job it should be to get advice and to get answers And the reality is if you're going to contact someone whether you know them directly or indirectly they are far more likely to accept a meet-up if it's just going to be about a quick chat advice or just information But if you literally call them up or email them and say hi Can you get me an interview or do you know someone that is coming you're quitting? They're not going to be friendly with you because you're already asking something from them and they might not have that Welcomes networking your number one priority should be about learning about Investment Banking learning about the lifestyle all organized banking How do they work into myself? What do they do on a day-to-day basis? What do they work on? What is a pitch? What is an explanation Miranda? What is a financial model? What do they do on a day-to-day basis? How do they use caps like you why do they use it? How do they pitch clients for for deals? you have to speak to them to figure out what investment banking is and That knowledge right there that knowledge what you're going to get to be a networking is exactly the type of thing Which you need to leak during your interviews because then that's going to show that you really have network with bankers and you really do know the lifestyle of lesson banking and you Know what is expected of you when you do breaking TMS and banking in terms of deliverables and responsibilities So that's your number one priority when it comes to networking is to find information on Investment Banking the landscape the products and services and the lifestyle which is going to help you tremendously when it comes to your interviews the second priority now, this is a bonus if They can get you an interview or if they know someone that is currently recruiting To pretty much put your name forward but that's a bonus. That's a second conversation That shouldn't be your number one priority that shouldn't be your first conversation because no one wants to be asked for things No one wants to be haggled No one was a random stranger who they've never known To literally ask them for interviews things that they don't even know that that person can handle So, how should you approach networking now? This is a bit easier for some people than others For some people again if you're in North America you have a lot more opportunities than you do in Europe or the UK or in Africa Asia because in In North America where there is a very very strong alumni culture You can always tap into them outside of North America You can always try friends and family and again embrace nepotism It doesn't matter if your brother your sister your family is in Investment Banking reach out to them first And if they are in is somewhat of a related Industry try and get them to put you in connection with someone that is in in the try your friends Try your professor some professors at University who were ex investor bankers and they might still have connections in the industry But that said when you're trying to network when you're trying to find someone always try to find someone that you know personally Because if you know someone personally it's hard for them to reject you because if you've exhausted all of your current contacts Then you're then going to resort to cold calling cold emailing again, we have a database of over 10,000 blue thinking about sometimes in our recruitment guide which you can always use but that's it because You're gonna be cold calling The success rate is going to be pretty low because these are people that don't even know you It's much harder for someone that knows you to reject you then for a complete stranger to reject you so again always contact the people that you know first so when you do manage to get in contact with someone How should you go about meeting them now? Number one, you should always try to move the conversation to a tone If you've been emailing back and forth try to get them over the phone and arrange for a quick coffee At a local coffee shop. It could be anything from 10 minutes to 20 minutes. It has to go on their schedule Remember, they're pretty busy. So it's going to be on their schedule. Most likely and Then something else don't ask questions which are redundant don't ask them how do I get into MS and banking whilst you don't even have an internship or workspace in investment banking because the Obvious answer is going to be going guess it works for as an investor banking So there was some question that you shouldn't really ask because they're pretty much self-explanatory and it's just going to show how unprepared you are Ok, so say you've scheduled a few appointments. What kind of questions should you ask well again? Ask some questions about the industry about the lifestyle what they expected how they got on what changes they see in the industry But don't ask them for silly things. Like how do I get work experience? can you give me a Internship because it's just going to be a simple. No if you ask them How do I get work experience it but you should already know that if you ask them For an interview or an internship on your first meeting. It's going to be too much You have to build that relationship and of course maintain it every couple of weeks at least twice a month get in contact with them Update them on your progress It doesn't have to be any major thing doesn't have to be an essay just to drop them two lines and just say hi I pretty much had two interviews this month. Everything is going great Thanks for your advice oh, and by the way, any update on your progress always ask them for things that they're working on so that when you are Maintaining that relationship when you are emailing back and forth you have something to to to reply to you can always ask them How's your project? How is ideal that you worked on? What was that thing that you were trying to do? So ask them for things that you can always follow back on when you're emailing them back later So that's the whole point of networking again. So let's summarize it in step two You have to maximize your work terms because that's something else investment bankers look for whenever they evaluating an intern is an associate and you need to get a relevant experience the more relevant the experience the more attractive you are and The easiest going to be for us to believe that you can't handle a job Number two your resume and cover letter now again, it has to be invested back in specific Otherwise, we're just going to ignore it. But again, I will make a video on that later on So always check that out and number three investment banking interviews. You have to prepare for your interview There's no point going into your interviews unprepared or I'm just trying to wing it Make sure you have the answers before you even step foot into that interview room. It's going to make the whole process so much easier number four networking Network to get answers and information about the industry Otherwise, you can pretty much guess all the information in the recruitment guide as well so now move on to step three which is the entry route into Investment Banking and this is very important because Depending on your current status on your education background, depending on how old you are depending on how many years of experience you have It's going to be very different the route you take to into Investment Banking is going to be very different So that said in this video? I'm not going to cover how you go about applying into each round because that doesn't matter that's in Consequential because at the end of the day the roles they don't change the responsibilities of the rolls. They don't change It's how you apply to them that changes depending on where you are so if you're in North America how you would apply for an and this world will be different to how you would apply for an Analyst world in Europe or in the UK, but the role itself doesn't change the interview questions for the roles They don't change because again the role is identical So therefore the responsibility is to Scott the tasks that you would do on those roles They're going to be the same So the types of question that you're going to get during your interviews are going to be the same they're going to be identical regardless of where you are in the world the tasks and Responsibilities that you're going to have as an intern as an analyst as an associate is going to be identical So therefore the questions that you get during your interviews are Identical regardless of where you are, the only differentiating factor is how you applying to these roles Do you apply online or do you apply via networking or? That's the only difference So now we're going to begin taking a look at each of the entry routes so now let's take a look at the first in few out into Investment Banking which are internships and by far this is the easiest way to break into Investment Banking because if you do manage to get a summer internship Almost half of the candidates on summer internships against retiring full-time offers. So if you're on a analyst summer internship There is a 50% chance that you will get a returning full-time offer without having to compete against everyone else for the analyst role for the full-time role and Same thing for the associate or if you're on a summer associate program, then there's a 50% chance that you will get a retaining full-time associate role and Because these are internship programs the requirements to break into them are slightly Reduced and there's not that many interview stages. So for example for an analyst recruitment process Typically, you have to go for a super day, which can be anywhere from 8 to 12 back-to-back interviews And if you're in the UK, you might have four back-to-back interviews and an intensive assessment center but for the equivalent internship You might have a maximum of four interviews in North America and the interviews that you might have in the UK There goes the night two back-to-back interviews and it might be a bit less intensive now There is a caveat to this because we know that almost half the candidates are going to be coming back as full-time analyst Associates the types of question that we do ask them are pretty similar But if you do get one or two technical questions wrong, it's okay We will give you the weight for that, but we won't give you any leeway for the full-time endless and associate role So it is slightly easier to break in at the internship level than it is at the full-time level, okay So what if you don't manage to get a summer internship because I know they are extremely competitive During the summer periods. Almost everyone is going to be applying for them If you don't manage to get on a summer internship program then try and get on an off cycle program There are off cycle internships. Which occur during term time Now for the sound programs for the summer internships because everyone's out for the summer everyone's on their summer break Demand for them is extremely elevated However for the off cycle program because their current term time demand for them slightly reduce So it's actually easier to break in at the off cycle internship level than it is for the summer internship level But the level of question that you are going to get during your off cycle program is going to be slightly more Intensive because if you if you're coming in at the internship summer level Then you are going to get training Even if you come in at the analyst or associate who you are going to get training But if you're going to come in as an intern an off cycle in time Then you're not going to get that type of training. So we are going to expect you to be able to Have a good level of technical knowledge on how to build financial modules how to build teasers information memorandum so we are going to expect that, you know a bit more than your typical summer intern or even sometimes the analyst or associate Depending on the type of off cycle internship that you're going for so off cycle internships There's less than one for them But but they do require you to be really well grounded on your technicals but regardless summer internships and off cycle internships are by far the easiest way to break in because at the full-time analyst and associate recruitment sages It's a lot tougher to break in and it's a lot more intensive now if you're in Europe There are spring internship Butare which are two-week programs. And again anyone can apply for them, but that's an exception Another exception is in North America. There are off cycle internships, which are around 20 to 30 hours a week and Candidates who are both in in school can apply for them as well so they can work as well as study Simultaneously and that's a great way to demonstrate just how much you want to get investor banker but again, it is pretty tough to balance a working Investment banking schedule and your education so next we're going to move on to the analyst recruitment round The analyst recruitment round is arguably one of the most competitive Slots on how to break into a vessel banking because demand at that level is extremely high So who can qualify for the analyst level so candidates that have just graduated from their undergraduate or the bachelor's degree? They can apply for the analyst role Candidates who have also just graduated from their masters They can also apply for the analyst role as well as candidates with less than two years worth of relevant work experience so what I mean by that is if you have been working at a big four or you might have been in the valuation team at a big four that's relevant experience because you know how to build financial models and you can pretty much use That knowledge that experience as a way to breaking at the analyst level and again regardless of what you have studied Before you can use that experience and leverage that experience to justify why you want to be an investment banker so again candidates from their undergraduate candidates from their postgraduate master's and Candidates with two years worth works periods. Now again, you have to graduate from your degree and Have been working for less than two years and you think above two years then you're gonna have to go for the associate round so now let's switch our attention and talk about your socio relative as an And the associate Rosen to Investment Banking is a bit special. It's not like an analyst program or even an internship program because Internships and and this worlds are geared toward more students and recent graduates But there are some people who want to be investment bankers or they discover Investment Banking later in life. So There is a specific program for them which are the MBA route or the associate routes into a VESA banking In order for you to qualify to be an associate You need one or two things either two to three years of experience of being an analyst Which will then be promoted to becoming an associate or? You can get an MBA at a prestigious Business School, which you will then be able to apply for the associate program So the associate route are more for candidates with a bit more than mature background So you have more than two years worth of experience you graduated There has been more than three years or four years in that case. The only route for you is the associate route There's no other route you. Can you are too old to apply for the analyst route and the only route which is it, which is viable for you now becomes the Associate but in order for you to even go about the MBA route. You need two things number one They're pre experienced So they're pre-mba experienced now, they don't need to have investment banking experience nor do they need to have finance experience? But they do need to have experience similar to what an Associate is going to go through so they need to be able to deal with a lot of stress They need to have experience dealing with from a financial data. They need to be in positions of leadership So their previous MV experience professional experience cannot just be a series of junior roles It cannot just be working at McDonald's, or working at a retail store It has to be a position of leadership and not just that you also have to demonstrate that you achieved During your your professional career or your short professional career Whether it's by being on track to receive a promotion whether it's being awarded multiple awards or accolades You have to damage even though you no longer want to be in that career part But you still did very well in that career part But now you want to transition and do an MBA to Brigantine as a banking so you need to have good quality Work experience and especially at a senior level because when you go into muscle banking at in as an associate level you are going to be managing analysts and interns so you need to have a position of leadership and not just junior positions and then when it comes to the actual MBA program when It comes to MBAs. The MBA program itself is not hard but getting into a good MBA program makes a world of a difference investment bankers private equity firms hedge funds every major company out that they only recruit from good MBA programs from Good business schools and to figure out what are good business schools, then take a look at Bloomberg dranking and Financial Times ranking investment bankers and pretty much anyone high finance We always refer to those two ranking when it comes to selecting business schools to have open evenings or to even recruit from So if you're trying to pursue the associate route into investor banking you have to make sure that you get on a good MBA program at a prestigious university and Business School as well as having good work experience prior work experience Okay. So those are the three entry routes and canvas and banking in townships analyst and associate realms so depending on your situation so if you're a recent graduate then Internships and analyst programs are what you should be targeting but if you are mature candidates Then you have to target the associate out by doing an MBA But if your candidate from a non finance background or if your candidate where without much work experience or with poor grades? I am going to make a specific video profile Targeting each one of those on how you should go about trying to break into Investment Banking But just keep in mind that there are only three main routes into Investment Banking the internship route Which will lead to becoming an analyst or associate or you can directly apply for the analyst role or the associate roles So, let me just take a moment and talk about the alternative career paths, which are available to you right now now a lot of candidates may have Investment Banking as their first choice as their priority as their number career paths, but The options or the opportunities which you have today did not exist five ten years ago Now typically Candice were going to Investment Banking do two to three years as an analyst an associate and then jump either in Private equity they'll exit into hedge fund corporate development ABC fund or whatever it may be Investment Banking was traditionally seen as a means to an end or a destination And again those destination were PE hedge fund, etc, etc but now those candidates all of those firms who used to hire X investment bankers because Bankers, they already had the skills, which they need order to get going. Those funds those productivity funds hedge fund. They're now recruiting Undergraduates because they can now train them and they will cost a lot cheaper than X investor bankers. So You now have private equity funds hedge funds competing alongside investment banks for similar type of talent Which means that you have a lot more options available to you So don't just take a look at Investment Banking take a look at private equity funds hedge funds corporate development teams they're also recruiting for the exact same type of talent, but the only issue is Investment Banking because they are very loud during recruitment season. They have open evening they have open day They give presentations which private equity funds hedge fund. They might not do it Kind of silenced them out, but they're still recruiting Just keep an eye out for them and in some sense because they are struggling to compete alongside Investment banks the much more louder voice. It can be even easy to break into those routes then investor banking so I hope you've enjoyed this video and Like I mentioned this is going to be a series on how to break into investor banking so I couldn't really cover everything in this particular video Although I try to cover as many entry rousing to lessen banking and how you should generally prepare To go into your vessel banking recruitment processes in our next couple of videos. I'm going to be addressing specific scenarios So, how do you break into Investment Banking? Without any work experience or relevant experience. How do you break into Investment Banking? If you're not from a finance back or if your mucho candidate so check out those videos Because I'm going to be addressing specific questions and scenarios in those couple of videos Now if you do want to learn more about in networking investment backing into your questions and answers We do have articles and videos on our site and I will be making more Specific and dedicated videos on some topics such as creating a specific resume for investment banking networking in investment banking and answering specific questions and how to Give I do answers for them now If you do want the advantage of knowing how to build a fully functioning financial module then check out our financial Modelling a course where we take a complete beginner and take you through every single step Step by step as we build a financial module. We have tons of exercises and on Excel and follow-through guides So definitely check out the links in the description below to learn more about those guys So I'll see you in our next video