How do I start a career in investment banking?

You can start a career in investment banking by getting the right education, networking with the right people, and having impeccable interpersonal skills.

Investment banking professionals are financial advisors to corporations, governments, and other entities. Recent graduates typically get hired in the entry-level roles of either intern or analyst before advancing to the role of associate after three or more years.

Getting the Right Education

You can start a career in investment banking by getting the right education. The right education is required to even get your foot in the door in this highly-selective field.

And, the right education means going to the right school. Graduates are selected from the most elite schools to join investment banking teams. Nearly 15% of all entry-level investment banking professionals go to New York University, while the rest are plucked from the Ivy Leagues and schools like:

• Georgetown

• University of Virginia

• University of Southern California

• University of North Carolina at Chapel Hill

• University of Texas at Austin

• Northwestern University

The school you attend, in addition to your personal background, will determine the reach of your initial network.

The right education also means getting the right degree. Finance is the most commonly held degree among investment banking professionals. Economics, business, and accounting are also popular majors.

You don't need to worry about getting your master's or doctoral degree to work in investment banking since less than 15% of investment banking analysts and over 20% of investment bankers have an advanced degree.

Networking With the Right People

You can start a career in investment banking by networking with the right people. Your network starts at home. Many investment banking analysts come from well-networked families and communities and often have relatives who work in the field.

If this isn't you, you will need to work twice as hard to grow your network. Reach out to your university's alumni network, and don't shy away from cold-calling and cold-emailing potential contacts.

Clients entrust investment banking teams with large sums of money. If you want a seat at their table, they need to believe you belong. In order to grow your network, you need to look and act the part.

Having Impeccable Interpersonal Skills

You can start a career in investment banking with the right education, the right connections, and by having impeccable interpersonal skills.