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Investment Banking

Investment Banks are all-encompassing financial institutions that offer a variety of services to corporations across industries. An investment bank typically has multiple divisions including investment banking (also referred to as corporate finance), sales and trading, research, and asset management.  

The investment banking division has two primary functions. First, it serves as intermediaries between investors and corporations that need capital.  This work is facilitated through debt and equity offerings by companies. Second, the role of an investment banker is to provide advisory services on mergers and acquisitions (M&A) and other corporate transactions. To learn more, click here: (wallstreetprep.com).

Skills to develop for success in this field

Non-Technical: 

  • Analytical 
  • Detail-Oriented 
  • Learning Agility (Ability to quickly understand and process new information) 
  • Resiliency 
  • Strong work-ethic 
  • Verbal Communication (Ability to engage with team, clients, and Pitch) 
  • Written Communication  

Technical knowledge that will be assessed in the interview: 

  • Accounting
  • Excel  
  • Financial Market Knowledge (Understand trends/issues/opportunities in the market)  
  • Financial Modeling Skills  
  • Valuation methods 
  • Investment banks will occasionally ask brain teasers to test your critical thinking, creativity, and math skills. Spend some time learning market sizing frameworks.

Online Resources specific to the industry

  • The NCA Finance Newsletter: a bi-weekly newsletter curated with jobs, internships and upcoming recruitment events. To opt-in, log in to your Handshake account and select: Profile > My Career interests > Industries > Select one or more of the following: financial services, investment banking, investment/portfolio management, commercial banking and credit. 
  • is a comprehensive resource for information on what it is like to work within an industry, company or profession. For specific information about Investment Banking go to: Vault > Careers > Industries > All Industries > Investment Management > Investment Banking Jobs 

Job posting and other career informational sites relevant to the field: 

  • : provides the reader with a network of data, people and ideas, delivering business and financial information, news and insights.
  • Breaking Into Wall Street: specializes in financial modeling and investment banking training through self-paced online courses, equipping students and professionals with the skills needed to succeed in competitive finance roles, including private equity and corporate finance. 
  • : has a daily newsletter that explains what's happening in the world of finance in 3 minutes.
  • : provides financial and investment dictionaries, advice, reviews, and overall ratings.
  • , is a nonprofit organization dedicated to empowering young women in finance and related fields. This free platform provides access to internships, scholarships, job opportunities, and career development events.  
  • : provides finance industry-specific resources, from helpful articles researching investment banking, private equity and hedge funds, to training offerings focused on topics such as investment banking interview and technical prep. 
  • : a weekly newsletter that keeps you informed on application openings and timelines, gives interview tips, and provides insight into the industry.  
  • : an online community with finance forums for aspiring professionals looking to break into investment banking, private equity, asset management, and other corporate finance careers. *This resource may have fees associated with usage. 
  • : WSP’s foundational, modeling, and industry specific content can accelerate your understanding of financial concepts and technical training. They have a robust ‘free resources’ section! 

Key information or knowledge for this field

  • Investment banking is known for an early internship-recruitment cycle. You should expect applications to open in your sophomore year and will be reviewed on a rolling basis. Please see the timeline section for more information.
  • Applications are reviewed on a rolling basis which means the opening date is more important than the closing date.  We encourage you to apply as early as you are ready.
  • Recruitment activity for full-time opportunities is rather limited, as many full-time roles are filled by extending return offers to summer interns.  However, positions do open periodically (typically late summer). You can uncover opportunities via networking, following employers on Handshake, and signing up for job alerts on a firm’s career portal.
  • On an application it is important to highlight your analytical skills, quantify your bullet points, and demonstrate an interest in finance. To do so, pursue relevant student activities, classes, research, training, and internships whenever possible during your freshman and sophomore year.
  • Given the nature of the work in this industry, it is crucial to follow financial news, the stock market, and both domestic and international economic data.
  • Networking is extremely important for sourcing job opportunities, getting interviews, and converting offers. Start your networking efforts early by talking with upperclassmen and recent alumni.  You are likely to be asked, “Tell me about yourself,” or “Why IB?” You may even find yourself on the receiving end of technical questions.
  • The interview process will combine personal interest, behavioral, and technical questions. The second-round interview for IB opportunities is often referred to as a ‘super day’ and is 3-5 hours in length. 

Relevant student groups and professional organizations

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Recruiting Timelines

recruiting timeline
Type of Recruit

Recruitment Events & Networking

Applications Open

Interviews Conducted

Offers

Full Time

Ad/hoc*

May-August prior to senior year

May-September prior to senior year

August-November

Internship

Summer before and Fall quarter of sophomore year

November- February of sophomore year

January- March of Sophomore year 

January –late March** 

* Full-time hiring can occur throughout the year and the cycles can be inconsistent. Most banks offer full-time roles to former interns from the previous summer but may open additional positions. Be sure to stay current on Handshake and employers’ websites to sign up for job alerts for any full-time openings throughout the summer and school year.   
**Offers are generally made, and the process is completed well before the application deadline, so apply early!