Continuing our series on your first Investment Banking Job. The focus shifts to networking and getting closer to the action.
Work your network
Check your network of contacts and start building new contacts of people who are in any way related to the investment banking industry. Get in touch with the MBA alumni network at your school. Most alumni are forthcoming with ideas and suggestions and could facilitate your first step towards an investment banking career. You should also contact executive recruiters specializing in investment banking roles. Do what it takes to get a foot in the door, but remember that it takes time for your network to become established and start producing results.
Improve your prospects
A review of the recruiting scenario plays a crucial role in landing your first investment banking job. Get to know about who is recruiting where. Since most of the top notch investment bankers, like Lehman Brothers, Morgan Stanley and Goldman Sachs, are located in New York, there will always be job vacancies here. All the top investment banks, such as Deutsche Bank, ABN Amro and Barclays, have offices in London – if the UK suits your need. In fact, Europe is a hot spot for US-based investment banks, like Dresdner Kleinwort, HSBC and CSFB. You could consider relocating to places where more recruitment is taking place.
Your endeavor to move closer to the investment banking job is not merely about a change of location. If you have not been successful in getting what you desire, aim for job offers that move you closer to the role you wish to assume. For instance, you could try for a job with a securities placement firm or a fund management firm dealing with any of the bigger investment banking firms.
Building your own brand and getting noticed go a long way in improving your prospects of landing your first investment banking job. Specialties are also helpful. Consider building a blog about investing in your specialty area. For instance, if you are big company technology savvy, you could build a blog about investing in the enterprise software sector. This will increase your visibility and provide potential employers with a sample of the expertise you could bring to their firm.
Stay tuned for the final installment in our series on Landing your First Investment Banking Job