Is my CV good enough for a IB-analyst position?

#1

Hi.

I’m wondering if I have a chance of getting a London analyst position for the fall of 2011. I have a BSc Finance from Stocholm University with good grades (probably somewhere between a 1st and a 2:1 in brittish grades) and I’m starting my MSc Finance at Cass this fall. My only “relevant” working experience consists of some part-time/summer jobs as an accountant. Do I have chance?

Thanks for the awnsers!

#2

Of course you stand a chance. Any idea what you want to do specifically?

#3

With a Cass masters you should pass the intial stage of several of the top banks, and surely quite a few of the smaller ones. However you need other stuff on your CV too, like relevant/interesting extra curricular stuff.

#4

If you want a Front office analyst role, then I would suggest that you try to add a Front office internship role this summer… otherwise, it will be tough… but not impossible!

#5

Well it’s pretty late to apply for a summer internship spot now… And I want to stay in Sweden this last summer before i go to London. Since you are apparantly supposed to apply for the 2011 graduate postions this August/September, I guess my CV will be as stated above.

I just pretty much want to enter the business at a FO position at an investment bank. I would have no problem considering Trading/Sales but from what I have gathered, after the financial crisis and the fact that IBD are ten times larger than Trading/Sales, my best shot is to go for an analyst position. So I will try to get any FO-position at any IB just to “get in the game”.

How should i proceed if I don’t get it? Try to get a back office position for 2011 and then apply for the 2012 intake so I have some more relevant work experience?

#6

IBD recruitment is often tougher than S&T. But don’t pick a department based on how easy it is to get into it. You will get grilled at interview and if you can’t hold you ground you’re screwed. Spend this summer reading up on the various departments and comparing it to what you’re good at along with where you interests lie.

I would suggest maybe finding a part-time position in a HF (cold call). That’ll hopefully increase your chances.

#7

Tougher in what ways exactly?

#8

the IBD graduate intake is much lower than the S&T graduate intake… that’s one reason it is tougher!

I know for a fact that at Nomura this year, the IBD intake was 40% lower than the grad intake…

another reason why IBD is tougher is because of language requirements… if you dont speak anything other than English then it’s tough… also, when you speak an additional language, you are generally assessed for the position that requires that language… on the other hand, if you can speak two or three languages other than english fluently, you will be in high demand! (I have a friend who is business fluent in 5 languages)

#9

Yes, the situation in London is apperantly different compared to Sweden. Here, the trader intake is maybe 4 per bank and year. And most of them only want engineers.

I’m pretty sure that I would prefer trading. However, if the case was as in Sweden, where I would have no chance in hell of getting a trading placement, I would definitely “pick a department based on how easy it is to get into it”.

Btw, I’m considering trying to learn some basic C++ programming over the summer. A lot of Swedish trading departments love to see some knowledge of C++. Same in London? Good idea or waste of time?

#10

A lot of people in IBD can speak a European language, but language competency is far more necessary in S&T than IBD, because it means you can trade and sell to anyone in the world, and most banks have (IBD) offices in other countries so there’s less need for foreign languages. Within IBD language skills become more important the closer you get to client-facing level, and especially if you’re in a country group.

IBD is tougher because S&T doesn’t get thousands of applications from people who know nothing about the division, and only applied because it has “Investment Banking” in the title.

#11

Sales requires languages… trading does not… so, that’s a difference… but languages in IBD matters a lot… I have seen a lot of mediocre candidates land IBD positions because they know a language and that meets the business requirement… (I have seen this personally happen at JP Morgan last year)

anyways, the more languages you know, the better… and IBD does receive a lot of applications

#12

Tja

Du kan fråga bengt??

Ansökte du till SEB Mechant banking och Nordea?

#13

I’m looking into a Back Office position (Technology) however I did not secure an internship, do I stand any chance?

#14

Of course you do. Apply early and make sure you know everything about the role. I would suggest going via the Summer Internship route. Always raises your chances of securing a FT role.

#15

70-80% of summer interns get a FT offer…you cannot ignore the odds

#16

@Eriswe: I am also starting an MSc Finance at Cass this fall. Looking to apply for IB Grad jobs. I am a 2008 Leeds University Business School Graduate. Graduated with a first. I have retail banking experience with Barclays at one of their international locations, plus I just completed my CFA level 1 also. Hoping to secure an IBD position.

#17

Saying i dont get a FO postion for the fall of 2011, should i apply for an internship? Do they accept people who won’t spend the next year studying? If i got an internship and was offered a place for fall 2012 i wouldnt mind just taking a year off, traveling ^^. Otherwise, if they do require that you study, i guess I could spend a year studying more economics…

#18

What I could also advise you is to apply at smaller banks…there are enough of them out there. If you start at a small bank and you are good, the word will spread and you ll find yourself at a big bank a few years down the road.

#19

WN, ff you would list the smaller banks that have grad-placements it would be really appreciated. The banks i know about at this time are:

Bank of America Merrill Lynch

Barclays Capital

BNP Paribas

Citi

Credit Suisse

Deutsche Bank

Goldman Sachs

HSBC

JPMorgan

Morgan Stanley

Nomura

Rothschild

Royal Bank of Scotland

Sociéte Générale

Standard Bank

UBS

#20

There are plenty of smaller banks but their recruitment also tends to be less structured…

State Street is a decent player in the street for markets side, Lazard for M&A and lots others just do a search of list in google etc.

I am having a holiday for few days. If you guys have any quetions regarding trading/sales/research, I am happy to receive PMs, but can’t promise to reply all of them but will try…