Financial Modeling Self Study Program

Welcome to IBankingFAQ

I am excited to say that I’ve finished work on my book, How to Be an Investment Banker: Recruiting, Interviewing, and Landing the Job + Website (Wiley Finance) which will be released on April 1, 2013. It was a lot of work but I hope many of you find it useful for the investment banking recruiting process. Basically, the book is an extension of this site covering in greater detail information about investment banking and lifestyle, recruiting and interviewing and the technical stuff that you need to know, including an overview of accounting, finance, financial statement analysis, valuation, modeling, M&A and LBOs.

I’ve also recently launched a website called igokids. This has nothing to do with finance or investment banking but it is my full-time gig so feel free to check it out. igokids is local search and discovery site for everything kid related in New York City (in a nutshell, “Yelp for parents”). I’m proud to say that I developed it from scratch myself, being a totally self-taught programmer. See all the exit opportunities that investment banking can lead to?

I also want to remind you about my financial modeling self study program, which costs only $49. You can learn how to build a financial model in the comfort of your own home or office. Knowing how to build an integrated cash flow model will definitely help you in your interviews plus it is a great way to prep for those dreaded technical interview questions. Click to view more information about the financial modeling self study program.

As always, I look forward to your comments/suggestions/questions and emails (andrew [at] ibankingfaq.com).

How to be an Investment Banker

Random FAQ: I’m trying to make the switch into banking from another career. How do I get interviews?

In order to get interviews, you have to get your resume in front of the right people.  Occasionally, this can mean HR, but more often than not, it’s going to take a banker looking at your resume.  Like every other type of job search, you’ve got to network.  First thing to do is to contact any friends and acquaintances that are already in banking.  Ask them to look at your resume and to pass it on to the right people.  Without a doubt, you’ve got a much better chance if a banker passes your resume to HR than you do sending to HR directly (but do that too).

The next best thing to people you know, is your alumni network.  Almost all schools have them, and almost all schools (undergrad and MBA) have alumni on Wall Street.  Talk to alumni, ask about job openings, ask for advice and ask for informational interviews.  Informational interviews are when you meet with (in person or over-the-phone) a banker for 15-30 minutes just to chat and to learn more about the job and the bank.  Even though they are not technically interviews, definitely treat them as such.  If the person likes you, he or she may be able to get you actual interviews.

Once you’ve exhausted your friends and your alumni network, try cold calling/emailing bankers.  Most calls or emails won’t get returned but remember, it only takes one.  And make sure to expand your search.  There are literally thousands of boutique investment banks out there and boutiques are typically more flexible about their hiring practices than are the bulge bracket banks.  And cover all your bases.  Try headhunters and try to sending your resume to HR or applying online if the bank has an online application system.

Most importantly, don’t get discouraged.  Networking and looking for a job is a difficult and ego bruising process.  Some would say it’s a full-time job in and of itself.  If you really hit a brick wall, then think longer term.  Are there other jobs which could be stepping stones to banking?  Or should you be considering an MBA?

View more frequently asked questions about: Recruiting and Job Search.