Career in Investment Banking | How to Get Investment Banking Jobs in India | IIM Jobs | @seekho_ai5134
Summary
TLDRThis video explores how to break into investment banking in India, addressing common questions such as whether undergraduates can join, the importance of professional qualifications like CA or CFA, and the process of landing a job after business school. It outlines key criteria, including academic consistency, relevant work experience, and deep interest in finance. The video also details the interview process, which includes technical, sector-specific, and HR rounds. The speaker hints at future content covering salaries, job responsibilities, and working hours in investment banking.
Takeaways
- 🏦 There's no specific right or wrong time to enter investment banking in India; it's possible as an undergrad or post-MBA.
- 🎓 Top B-schools, especially in Ahmedabad, Bangalore, or Calcutta, significantly increase your chances of getting into investment banking.
- 📚 Consistent academic excellence is a must, and having a degree from a prestigious institute is beneficial.
- 📈 Professional courses like CA or CFA can boost your chances of getting shortlisted, but they are not mandatory.
- 💼 Relevant work experience in fields like mergers and acquisitions, due diligence, private equity, or equity research is highly valued.
- 📊 Market tracking and understanding of financials and operations of various sectors is essential to showcase interest in finance.
- 💼 Participation in workshops and courses on financial modeling or valuation techniques can enhance your profile.
- 🗣️ The interview process at B-schools for investment banks includes technical rounds on corporate finance, sector prep, and HR discussions.
- 💼 Investment banks are interested in candidates' long-term commitment and alignment of interests with the banking field.
- 💰 Upcoming videos will cover investment banking salaries, job responsibilities, working hours, and more.
Q & A
What qualifications are necessary to get into investment banking in India?
-You don't need specific qualifications like CA or CS to enter investment banking. However, graduating from a top institute, especially a top 7 B-school, and having great academic scores increases your chances. Professional courses like CA or CFA can help, but they are not mandatory.
Can someone enter investment banking as an undergraduate in India?
-Yes, it's possible to enter investment banking as an undergraduate, but it may take more time compared to someone with an MBA. Having relevant experience and meeting other criteria can help expedite the process.
Which firms only hire from top B-schools for investment banking roles?
-Firms like JP Morgan, Bank of America, and Goldman Sachs often hire only from top B-schools in India, such as IIM Ahmedabad, Bangalore, or Calcutta.
What kind of work experience is considered beneficial for getting into investment banking?
-Relevant work experience includes fields like mergers and acquisitions, due diligence, private equity, or equity research. These areas help build a strong background for investment banking.
How can someone demonstrate an interest in the finance domain when applying for investment banking roles?
-You can demonstrate interest by tracking markets and understanding the operations and financials of different industries or sectors. Pursuing relevant courses, such as financial modeling or valuation techniques, can also help, but they must be backed by real-world experience or knowledge.
What are the different interview rounds conducted for investment banking roles at B-schools?
-There are typically three interview rounds: (1) A technical round focusing on corporate finance and valuation techniques, (2) A sector-specific round where you discuss market players and industry dynamics, and (3) An HR round to assess long-term interest and fit for the firm.
Why is market tracking important for a career in investment banking?
-Market tracking helps you understand the operations, financials, and competitive landscape of various industries, which is crucial for performing well in interviews and in the role itself.
What should be avoided when listing finance courses on your CV for investment banking roles?
-You should avoid listing finance courses merely for CV points. Recruiters prefer to see courses backed by relevant work experience or knowledge, not just as standalone qualifications.
How should you prepare for the sector-specific interview round in investment banking?
-Choose a sector of interest, research the key players, understand their financials, competitors, and management structure, and be able to discuss industry-specific dynamics like market competition and economic drivers.
What kind of questions are asked in the HR round of an investment banking interview?
-In the HR round, you may be asked about your long-term interest in investment banking, your career plans, and how your background aligns with the field. They want to ensure that you're committed and not likely to leave after a short period.
Outlines
📊 How to Get Into Investment Banking in India
The speaker introduces the topic of how to break into investment banking in India. They mention common questions like whether one can get into the field as an undergraduate or if pursuing courses like CA or CS is necessary. The video will cover key points such as selection processes in business schools, salary expectations, job responsibilities, and working hours in investment banking. Insights are shared by a friend who is an investment banker. The speaker emphasizes that while some top firms only hire from prestigious business schools, it is still possible to enter the industry as an undergraduate, provided you meet specific criteria.
📈 Checklist for Getting Into Investment Banking
The first point in the checklist for breaking into investment banking is attending a top institute with excellent academic performance. Firms like JP Morgan, Goldman Sachs, and Bank of America prefer candidates from top business schools like IIM Ahmedabad, Bangalore, or Calcutta. The second point involves having professional certifications like CA or CFA, which can increase the chances of getting shortlisted but are not mandatory. The speaker highlights the importance of work experience (workex) in finance-related fields like mergers and acquisitions, private equity, and equity research. Additionally, candidates should have a strong interest in finance, which can be showcased through market tracking and understanding the operations and financials of various industries. Pursuing relevant courses, like financial modeling, can also be beneficial, though only if accompanied by practical experience or internships.
Mindmap
Keywords
💡Investment Banking
💡Undergrad
💡CA (Chartered Accountant)
💡CFA (Chartered Financial Analyst)
💡B-School
💡Workex
💡Market Tracking
💡Technical Round
💡Sector Prep Round
💡HR Round
Highlights
Exploring the process of getting into investment banking in India.
Discussing the possibility of entering IB with an undergraduate degree versus pursuing CA or CS.
The importance of attending top B-schools for investment banking opportunities.
The role of professional courses like CA or CFA in enhancing one's profile for investment banking.
The significance of academic scores and consistency from top institutes for investment banking prospects.
The value of work experience in finance-related fields such as M&A, due diligence, and equity research.
The necessity of demonstrating a keen interest in the finance domain for investment banking.
Market tracking as a way to showcase interest and knowledge in the finance sector.
The role of FRM workshops in gaining insights into investment banking and finance.
Recommendations for courses and workshops to enhance finance knowledge for investment banking aspirants.
The three-round interview process at B-schools for investment banking positions.
The technical round's focus on corporate finance and valuation techniques.
Sector prep round expectations and how to demonstrate market understanding.
The HR round's focus on long-term commitment and alignment of interests with investment banking.
Upcoming videos on investment banking salaries, job responsibilities, and work hours.
Invitation for viewers to ask questions and engage in the discussion on investment banking.
Transcripts
hi everyone on a very popular demand
today we are going to talk about how to
get into investment banking in india i
know there will be burning questions
like can you make it to ib as an
undergrad or do you need to do ca or cs
in order to become an investment banker
also if you make it to a b school with
the dream of getting into an investment
banking firm what is the process of
getting selected that is what are the
rounds that are conducted there so we
are going to talk about all these things
in this video and in the upcoming videos
i'll also share the investment banking
salary job responsibilities working
hours and more so stay tuned for them as
well the insights have been shared by
one of my friends who is an investment
banker and has graduated from imdb he
shared that there's no right or wrong
time to make it to investment banking in
fact as an undergrad also you just need
to meet some checklist in order to land
there but there are certain firms for
example jp morgan or bank of america or
goldman that only hire from let's say
the top b schools so in case you have
specific forms in mind then you might
have to do an mba otherwise it's just
gonna take more time reaching at that
level if you are going there as an
undergrad let's talk about the checklist
now the first criteria is that you
should be from a good institute with a
good degree and great academic scores
consistency in academic scores is a must
and by good institutes here we mean top
7 b schools especially if you are from
ahmedabad bangalore or calcutta your
chances of making it to an investment
bank increase significantly the second
checklist is that of professional
courses like ca or cfa if you have
pursued them then your chances of
getting a short list increase but it's
not a mandate to have ca or cfa the
person that i talked to was a
non-engineer so he was a ca but most of
the engineers that are there at time and
bangalore or calcutta are not ceos they
do have other checklists meeting the
criteria which is why they get a short
list from investment banks so it's not a
must but in case you are not sure
whether or not you would like to pursue
a professional course i would recommend
you a source a couple of days ago i was
attending a workshop on frm and i got to
know a lot about investment banking and
finance in general through that workshop
i'll also play a clip for you it can
actually go to five dollars per barrel
if it goes to five dollars per barrel
then indigo is at a profit if it goes to
one dollar per barrel bp as a is at a
profit is this clear to everyone so both
parties had different
views on aviation fuel is it clear to
everyone
yes yes these workshops are conducted by
siko which is a membership community
that you can join at an unbelievable
affordable price seco organizes 10 such
live events every single month and you
can become a member by checking out its
link in the description as well as the
pinned comment the third point in this
checklist is growth in the finance field
which means whether or not you have
relevant workers you can have workex
which deals with mergers and
acquisitions due diligence private
equity or equity research these are the
fields that are considered as a good
backing for getting into investment
banking so if you are looking for work
ex go ahead for these fields and the
final point is interest in the finance
domain this is a must for every single
person and how you showcase your
interest is first by market tracking so
market tracking does not require you to
actually trade in the market but just
requires you to understand about
different organizations so you should
know about the operations as well as
financials of let's say a particular
sector for example let's say you pick
edtic so you should know what are the
different companies who is whose
competitor you should know their
financials you should know which
investors have invested in the firm at
what valuations why have they invested
in the firms what does the management
structure look like you could also pick
airline industry and do the same for any
industry that is of interest to you but
it is a must to understand about the
industry in depth you may also use
someone's cfa level 1 books to carry
this out you can also pursue certain
courses or attend workshops for example
sequel selects workshops also conduct
these the second way to showcase your
interest in finance is by pursuing
courses so you can do courses in
modeling or understanding valuation
techniques these are a couple of
resources that i had also specified in
the finance video you can check it out
but the most important part is to not
pursue these courses in order to add a
cv point in fact my friend showed that
most recruiters are skeptical if they
see only these courses in your cv but
they don't see anything relevant for
example an internship or work experience
or a professional course in your cv
backing your interest in the finance
field so if you can justify that you
have pursued these courses for the sake
of gaining knowledge then they are going
to be of help to you so this is about
the checklist the more points you have
in there the better your chances are
going to be to get a short list now we
are going to talk about what happens
after you get a short list what are the
interview rounds that are conducted at a
b school for you to make it to an
investment bank the first round is
called a technical round in this round
you are basically going to be quizzed on
corporate finance you are going to be
tested on the valuation techniques
understanding how you can value anything
in general so that's your first round
the second round is going to be sector
prep round herein you are going to be
asked to pick a sector of your choice
for example i named airlines or
education sector before so you would be
picking up any sector and the recruiter
is going to ask you to tell who are the
different players in the market or the
recruiter will just name a particular
firm and ask you to share about its
operations about its financials about
its competitors about the management
structures what are the different drives
of the particular industry that you pick
up what are the different
differentiators in that industry or of
that specific firm what are some
positives and negatives how is the
economics of that industry in general
how is the market competition like
whether it's a saturated industry or not
whether or not that organization's
valuation is overpriced or underpriced
so a couple of these things after you
pick up a certain industry and are given
a certain company within that industry
after a good enough discussion on
understanding how your fundamentals are
and how much you understand the markets
which is why i said that you need to
track the market on a regular basis
after this is the final round which is
sort of an hr round but you would not be
asked questions like strengths and
weaknesses instead a director would
probably be interacting with you to
understand why you are coming into
investment banking why your interest
aligns with this field or how can you
justify your background with what you
are trying to choose basically what they
want to understand is whether or not you
would want to quit the firm after a
couple of years so they would just want
to understand how long are you going to
stay in that investment bank so they'll
probably be asking you where do you see
yourself five years down the line so
these are the three rounds that are
conducted at b schools if you want to
get into an investment bank i know it
was a lot of new information in this
video for a couple of you who are
interested in the finance field so take
it slow i would be coming back with
another video wherein i'll share what
are the salaries as well as the working
hours in investment banking also the
roles and responsibilities of an
investment banker and trust me it blew
my mind when i got to know how much
investment bankers earn so don't worry
i'm gonna come back with another video
for now in case you have any queries do
put them down in the comments below
thank you so much for watching this
video
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