Career in Investment Banking | How to Get Investment Banking Jobs in India | IIM Jobs | @seekho_ai5134

Summary

This 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

00:00

📊 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.

05:00

📈 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.

Keywords

💡Investment Banking

Investment banking refers to a division of a bank that helps individuals, corporations, and governments in raising capital by underwriting or acting as the client's agent in the issuance of securities. In the video, the speaker discusses the process of getting into investment banking in India, emphasizing the importance of academic and professional qualifications, as well as the need for a strong interest in finance.

💡Undergrad

Undergraduate, or 'undergrad,' refers to a person who is pursuing a bachelor's degree at a college or university. The script mentions that it is possible to enter investment banking as an undergraduate, provided one meets certain criteria such as academic excellence and relevant work experience.

💡CA (Chartered Accountant)

CA stands for Chartered Accountant, a professional accountancy designation. In the context of the video, pursuing a CA is mentioned as one of the professional courses that can increase one's chances of getting a shortlist for investment banking roles, although it is not mandatory.

💡CFA (Chartered Financial Analyst)

CFA stands for Chartered Financial Analyst, a globally recognized professional credential in the investment industry. The script suggests that having a CFA designation can be beneficial for those aspiring to be investment bankers, but it is not a requirement.

💡B-School

B-School is a colloquial term for a business school that offers graduate-level business programs, such as an MBA. The video discusses how getting into a top B-school can increase one's chances of being selected by prestigious investment banks.

💡Workex

Workex refers to work experience, particularly internships or temporary positions that provide practical exposure to a field of study. In the script, having work experience in finance-related fields like mergers and acquisitions is highlighted as a positive factor for getting into investment banking.

💡Market Tracking

Market tracking involves staying informed about the latest developments and trends in financial markets. The video emphasizes the importance of market tracking to demonstrate a genuine interest in finance and to prepare for interviews in investment banking.

💡Technical Round

A technical round is a part of the interview process where candidates are tested on their technical knowledge and skills. In the context of investment banking interviews, this round focuses on corporate finance and valuation techniques, as mentioned in the script.

💡Sector Prep Round

Sector prep round is a stage in the investment banking interview process where candidates are expected to demonstrate their understanding of a specific industry sector. The video explains that candidates are asked to discuss various aspects of a chosen sector, such as market players, financials, and industry dynamics.

💡HR Round

HR round refers to the human resources interview round, which often focuses on assessing a candidate's fit with the company culture and their long-term goals. The script describes this round as an opportunity for directors to understand a candidate's motivation for joining investment banking and their commitment to the role.

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