As the world becomes more interconnected, the financial industry grows exponentially. With the ever-increasing demand for skilled professionals, investment banking firms such as Goldman Sachs, JP Morgan, and Morgan Stanley continue to attract top talent. For Indian college students, landing a job at a prestigious firm may seem daunting, particularly if they hail from a non-target school. However, it is possible to achieve this dream with proper guidance, preparation, and persistence. In this article, we will provide a roadmap for Indian college students to increase their chances of getting hired by a bulge bracket firm.
What are Bulge Bracket Investment Banks
Bulge bracket investment banks are the world’s largest and most prestigious investment banks. These banks are typically global in scope and offer a wide range of services, including M&A advisory, underwriting, and sales and trading. Some of the most well-known bulge bracket investment banks include Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America Merrill Lynch, and Citigroup.
Their size, scope, and reputation set bulge bracket investment banks apart from other investment banks. These firms typically have a larger global presence, a significant presence in multiple countries and regions worldwide. They also have larger deal sizes and higher transaction volumes than other investment banks. This means they are often involved in some of the largest and most complex financial transactions, such as mergers and acquisitions, initial public offerings, and debt offerings.
Bulge bracket investment banks also have a strong reputation in the industry and are highly regarded by clients and peers alike. This reputation is built on their track record of success, expertise, and ability to execute complex financial transactions.
While bulge-bracket investment banks are highly prestigious and offer significant professional growth and development opportunities, they also tend to have highly competitive work environments and demanding workloads. This means that employees are often expected to work long hours and meet high-performance standards. Despite these challenges, many finance professionals aspire to work at bulge-bracket investment banks due to the opportunities for professional growth, the high compensation packages, and the potential for exposure to a wide range of financial transactions and markets.
Bulge Bracket Investment Banks in India
India is a rapidly growing economy and a crucial market for many bulge bracket firms. These firms have a significant presence in the country and often recruit top talent from Indian colleges and universities.
Goldman Sachs, JP Morgan, and Morgan Stanley all have a strong presence in India and offer a wide range of services, including investment banking, wealth management, and securities trading. Other bulge brackets firms, such as Citigroup, Bank of America, and Deutsche Bank, also have a significant presence in the country.
Non-Target Schools in Investment Banking Recruitment
In investment banking recruitment, non-target schools refer to colleges and universities not traditionally recruited by bulge-bracket investment banks. These schools may have yet to establish relationships with top investment banks or have a track record of producing successful candidates in the industry.
Typically, non-target schools are smaller or less well-known institutions that may have a different level of resources or prestige than target schools. However, it is important to note that attending a non-target school does not necessarily preclude someone from a career in investment banking. With the right skills, experience, and approach, candidates from non-target schools can still be successful in the industry. Establishing connections with investment banks may require more effort and networking, but it is possible.
Getting Into a Bulge Bracket: Checklist for Students from a Non-Target
Goldman Sachs, JP Morgan, and Morgan Stanley are a few of the biggest names in the investment banking domain. Most finance students in the country aspire to join these firms during their careers. This dream becomes a bit farfetched when the candidate hails from a school that is regarded as a non-target one.
Yes, it is quite true that these names have a slight inclination towards candidates from target schools. After all, these candidates have cleared some of the toughest exams and competitions in the country. So they have established themselves as the best and the brightest in their respective segments. Having said that, it is not true that the mentioned finance industry giants do not hire candidates from non-target schools.
Applicants from non-target schools that want a seat at these institutions must put extra effort into learning and add flair to their candidature. Seekho is a community that aspires to enhance the learning curve of all interested candidates. The same is done through the guidance and mentorship of industry experts, and the right exposure is provided to nurture and upskill the talent the right way.
Preparation
Preparation is all that matters for the investment banking domain. Bankers dislike wasting their time beating around the bush regarding interviews. Do not go into investment banking because it looks fancy. Go to investment banking because you want to work as an investment banker.
Suppose the recruiter asks you about the impact of the Russia and Ukraine war on crude oil prices. In that case, you should be able to relate the impact of geopolitical factors on oil prices and how Russia is quite important in oil supply in European nations and the world.
Interview questions in investment banking roles in firms like Goldman Sachs are typically point-blank and practical. You need to develop an aptitude for understanding economic factors and their logical comprehension.
Exposure
When preparation proves vital in getting the roles with these firms, it is essential to obtain exposure with the people working in the domain. The only way to do so is through networking, either by utilizing social media, references, or a learning community.
A correct exposure might help you understand the approach you should have when interviewing with these firms. You may also learn how to look at various events around the globe and relate to their impact on different economies.
The proper exposure may introduce you to the economic calendar that details the occurrence of various global economic events. An observant candidate may be able to judge the impact of the same in an actual sense.
Confidence
Target and non-target school candidates typically differ in this aspect a lot. Non-target school candidates should realize that when an investment bank like this gives them an opportunity for an interview, they are likely looking for a suitable candidate, irrespective of school.
So, when you are asked to interview for a role at these investment banks, present yourself confidently and demonstrate your knowledge in the best and most effective way possible.
Knowledge
If you want to be an investment banker working with industry giants, there is no second alternative to knowledge. It is an absolute necessity. Being a non-target school student does not mean you lack the expertise; you only need to learn how to apply the same to real-world applications.
Practically, you should have opinions and be prepared to defend them. If you’re going to an M&A interview, you should know all there is to know about valuation procedures and which one you believe is the best and why. If you’re heading to a trade interview, you must be prepared to defend your viewpoint on market direction.
Diversify
So, you want to get into Goldman Sachs and other multinational financial firms, but there remains the fact that you may not be able to land a job there. Even if you land a job in these giants, you may not get the roles of division you were hoping for.
If you miss these names, there are still plenty of options to get the initial experience and eventually reach the desired company. And in the case of different divisions, the same can happen with both target and non-target school students.
These companies do not have all the divisions in all the countries. Thus, you need to start building your bases, and eventually, you may be able to reach the desired role.
Investment banking is among the top five career choices of finance stream candidates. Undoubtedly, the competition in landing a great job in this segment is highly competitive. To nurture your knowledge, learn proper techniques, and upskill yourself, you need the guidance and mentorship of seasoned experts in the field. When industry experts guide you through developing proper skills and techniques, you substantially increase your chances of landing a highly competitive job.
Conclusion
Non-target students should begin by reading investment banking interview questions at various sites and attempting to join an internship or project to grasp the field better. These days, various certifications can help you enhance your candidature. Seekho offers over 200+ courses taught by industry leaders.
When you join Seekho, you become a member of a learning community that is always there for one another. You will also receive personalized mentoring through live seminars, breakout sessions, and discussion forums. Seekho Select Membership provides you with the most intriguing jobs and internships. The platform also offers over 1000 live classes taught by industry leaders. To accelerate your career’s growth, join the ‘Seekho Select Membership’ today!
