How to Break into Investment Banking – London – Full Guide
How to Land Your First Investment Banking Job
🎯 Table of Contents
Job Search Strategy Overview 🎯
Landing your first investment banking job requires a strategic approach that goes far beyond submitting online applications. Success depends on thorough preparation, strategic networking, and presenting yourself as the ideal candidate.
💡 Key Insight
The Hidden Job Market: Most investment banking positions are never publicly advertised. They're filled through internal referrals, networking, and direct outreach. Your job search strategy must account for this reality.
Essential Preparation Steps 📚
Before applying anywhere, you must thoroughly research the investment banking landscape and choose your target divisions wisely.
Research Checklist
- Research Investment Banking divisions thoroughly
- Choose target division based on interests and competition
- Identify 15-20 target firms across different tiers
- Research recent deals and market trends
- Understand each firm's culture and focus areas
- Create target list with contact information
💡 Pro Tip: Division Strategy
The Investment Banking division typically receives the most applicants, while other equally rewarding divisions may be overlooked. Consider divisions like:
- Debt Capital Markets (DCM) - Less competitive, great training
- Equity Capital Markets (ECM) - Strong deal exposure
- Leveraged Finance - High compensation potential
- Restructuring - Recession-proof specialization
Networking Strategies That Work 🤝
Networking is the most effective way to break into investment banking. Here are the proven strategies that actually work:
Reach out to university alumni working in investment banking. They have the strongest incentive to help fellow graduates.
Email VPs and Directors directly at their work email addresses. Most people ignore LinkedIn but read work emails.
Request brief 15-20 minute calls to learn about their experience. Build relationships before asking for referrals.
Attend finance conferences, university career fairs, and industry meetups to make face-to-face connections.
Alumni connections are your strongest networking asset. Most professionals maintain close ties with their universities and want to help fellow graduates succeed.
Find Alumni
Use your university's alumni directory or LinkedIn to identify graduates working in investment banking. Focus on recent graduates (2-5 years out) who remember the job search process.
Request Introduction
Contact your university's alumni office for warm introductions. Cold outreach works too, but warm introductions have higher response rates.
Build Relationship
Focus on learning from their experience first. Ask about their path, challenges, and advice. Build rapport before making any asks.
Request Referral
After establishing a relationship, ask if they'd be willing to refer you for relevant openings or introduce you to their colleagues.
Application Best Practices 📝
Generic applications get rejected. Every application must be customized for the specific role and firm.
Application Customization Checklist
- Research the specific division and recent deals
- Include keywords from job description in resume
- Write compelling, tailored cover letter
- Highlight relevant experience and skills
- Reference specific firm initiatives or values
- Proofread multiple times for errors
- Use professional email and file names
💡 Keyword Strategy
If the job description mentions "Financial Modeling," ensure your resume clearly demonstrates your financial modeling experience. Many applications are initially screened by ATS (Applicant Tracking Systems) that look for specific keywords.
Investment Banking Resume Essentials
- One page maximum (strict requirement)
- GPA included if 3.5+ (required for most positions)
- Relevant coursework in finance/economics
- Quantifiable achievements with numbers
- Leadership experience highlighted
- Technical skills section (Excel, Bloomberg, etc.)
- Professional formatting with consistent fonts
- Action verbs and impact statements
Email Outreach Templates 📧
Most people send LinkedIn messages, but professionals take work emails more seriously. Find their email address and send a compelling, personalized message.
Alumni Outreach Template
Subject: [University] Alum Seeking Investment Banking Advice
Hi [NAME],
I hope this email finds you well. My name is [Your Name] and I am currently in my final year at [University/College] pursuing a degree in Finance and interested in IB opportunities at [FIRM_NAME]. I recently spoke with [POINT_OF_REFERENCE] who mentioned you would be a great resource to learn from.
I was wondering whether you would be available for a brief 10–15-minute phone call in the coming weeks to speak about your experience at the firm.
I understand you must be busy, but if you're willing, I'd be more than happy to find a time that works best for your schedule.
In case it's helpful to provide more context on my background, I have attached my resume below for your reference. I look forward to hearing back from you soon.
Best regards,
[YOUR NAME]
Cold Outreach Template (Non-Alumni)
Subject: Aspiring Investment Banker - Request for Brief Call
Hi [NAME],
I hope you're having a great week. I'm [Your Name], a [Year] student at [University] with a strong interest in investment banking, particularly in [Specific Division/Industry] at [FIRM_NAME].
I've been following [FIRM_NAME]'s recent work on [Specific Deal/Initiative] and was impressed by [Specific Detail]. Given your experience in [Their Area], I would greatly appreciate the opportunity to learn from your insights.
Would you have 10-15 minutes for a brief call in the coming weeks? I'm happy to work around your schedule and understand you have competing priorities.
I've attached my resume for context. Thank you for considering my request.
Best regards,
[YOUR NAME]
[Your Phone]
[Your Email]
💡 Email Success Tips
- Find work emails: Use formats like [email protected]
- Personalize each message: Reference specific deals or initiatives
- Keep it brief: Busy professionals prefer concise messages
- Be specific: Request 10-15 minutes, not "some time to chat"
- Follow up: One polite follow-up after a week if no response
Interview Preparation 🎤
Investment Banking Interview Success
Investment banking interviews are notoriously challenging, covering technical knowledge, behavioral scenarios, and fit questions. Preparation is everything.
📊 Technical Preparation
- Financial modeling concepts
- Valuation methods (DCF, Comps, Precedents)
- Accounting fundamentals
- Market knowledge and current events
- Basic M&A and LBO concepts
🤝 Behavioral Preparation
- Why investment banking?
- Walk me through your resume
- Leadership and teamwork examples
- Challenging situation examples
- Questions about the firm
🏢 Fit Questions
- Why this firm specifically?
- What do you know about our recent deals?
- How do you handle long hours and pressure?
- Where do you see yourself in 5 years?
- Questions for the interviewer
💡 Interview Success Strategy
The 3-Step Approach:
- Technical Mastery: Know your financial concepts cold - no hesitation
- Story Preparation: Have 5-6 detailed examples ready for behavioral questions
- Firm Research: Know recent deals, company culture, and industry trends
Application Timeline ⏰
6 Months Before: Foundation Building
- Build technical skills (Excel, financial modeling)
- Create target list of firms and contacts
- Begin networking with alumni and professionals
- Craft master resume and cover letter templates
3 Months Before: Active Networking
- Intensify networking efforts (10-15 contacts per week)
- Attend industry events and career fairs
- Request informational interviews
- Begin interview preparation
1 Month Before: Application Push
- Submit applications to target firms
- Follow up on networking conversations
- Request referrals from established contacts
- Intensive interview practice
Application Season: Execute Strategy
- Continue applications and networking
- Excel in interviews
- Maintain relationships with all contacts
- Be prepared for multiple interview rounds
Common Mistakes to Avoid ⚠️
🚫 Fatal Application Mistakes
- Only applying online: 97% failure rate - networking is essential
- Generic applications: One-size-fits-all approach gets rejected
- Poor email etiquette: Unprofessional emails kill opportunities
- Inadequate research: Not knowing basic firm information in interviews
- Weak technical skills: Can't answer basic finance questions
- No follow-up: Failing to maintain networking relationships
- Applying too late: Missing optimal timing windows
- Spelling/grammar errors: Instant disqualification
💡 Success Mindset
Remember: You're always one conversation away from landing your perfect role in investment banking. A chance encounter at a restaurant led to one professional's first internship with a top Managing Director. Stay prepared, be creative, and never stop networking.
Your Investment Banking Career Starts Now 🚀
Landing your first investment banking job requires strategy, persistence, and preparation. Focus on building genuine relationships, delivering exceptional applications, and showcasing your passion for the industry.
Download Job Search Toolkit Get Email TemplatesReady for your interviews? Continue reading our comprehensive interview guide to nail your technical and behavioral questions.
