- The EduFin Project
How to prepare for investment banking graduate schemes and summer internship applications process
Banking recruitment season is about to open for both graduate programs and summer internship applications in the next 2 months starting in August. Here at The Edufin Project, we understand the importance of being proactive and want to share an actionable game plan on how to be fully prepared and on the front foot before the applications open. The tips below are for pre application stage for graduate schemes and summer internship roles in UK
1. Organise yourself :
Create a list (hopefully on excel) of the companies in the investment banking and finance sector in the UK you want to apply. A list of 20-25 companies with your dream 5 companies should be sufficient.
Write down the starting and ending dates of their applications and mark the starting date in Google Calendar/ Apple Calendar so you don’t miss the application start date
Keep this document dynamic with constant updates throughout the graduate scheme or summer internship application process
2. Prepare your CV:
Prepare a CV based on any templates or guides provided online. Update it for all the experiences (study, work, apprenticeships, extracurricular)
Ensure your CV is suitable for the roles you want to apply for. For example, a CV for Sales and Trading roles should look different to a CV for front office investment banking roles
Make sure your CV is properly formatted and there are no grammatical errors ( you are aspiring to work in banking after all)
A pro tip, ensure you have an CV objective section in your document. If you need a sample student cv examples or resume objective sample please reach out to us
Here at The Edufin Project, we provide a review of CV by experienced investment bankers based on students’ objectives. If you want to get your CV reviewed by an industry expert, contact us here https://www.edufinproject.com/contact
3. Prepare your Cover Letter
Write a cover letter that the company you are applying to can’t ignore
The 3 key elements in cover letter what to include: Why firm, why division, why you
The difference from other applicants (especially if you are applying for top tier firms which receive thousands of applications) is the deep research you do on the organisation which is reflected in the letter
Pro tip 1: Fit is one of the most important aspects that recruiters look for as part of application. Your research will help you build personal narrative of why you are a great fit for the firm.
Pro tip 2: Content in the cover letter should not be replication of information you have already provided in the CV. Cover letter provides you opportunity to provide information which you would generally not be able to provide on CV
Pro tip 3: Keep the cover letter succinct. A good cover letter shouldn’t be more than 3 paragraphs and no more than 500 -700 words
Please remember you will need to amend the cover letter for each application you submit
If you want an example of cover letter for students which got one of my international student in UK an interview in Morgan Stanley, please reach out to us
Here at The Edufin Project, we provide a review of your cover letter by experienced investment bankers based on students’ objectives. If you want to get your cover letter reviewed by an industry expert, contact us here https://www.edufinproject.com/contact
4. Prepare for online psychometric tests or situational judgment tests (SJT):
These tests are now common filters being used by organisations for graduate scheme applications and summer internship applications in the UK
We will provide a summary of various tests providers and “how to pass situational judgement tests” / “how to pass online psychometric tests” guide in the coming weeks
If you are interested to receive our guide or want 1-on-1 guidance on the above, please reach out to us
5. Prepare for interviews
Key items you should be ready with for investment banking graduate schemes and summer internships in UK
Walk me through your resume
Strengths and weaknesses
Technical questions
Competency questions
Pro tip: Start reading blogs and news on the banking sector to differentiate yourself from other candidates during networking and interviews
Here at The Edufin Project, we provide full interview prep service by experienced investment bankers. If you want to ensure you are prepped for interviews by experienced industry expert, contact us here https://www.edufinproject.com/contact
6. Start Networking
Networking is essential tool in the current environment to land a job in investment banking or finance in the UK. Networking is one of the key skills in finance industry and as such the earlier you start to develop it the better
Linkedin is a great tool which lets you reach out to people working in companies where you want to work – use it
Pro tip: Develop an elevator pitch for yourself ( max 3-4 lines, using bullets help) and be patient on Linkedin ( response rate is low but you need just 1 job)
We are preparing a “Students guide to how to network like a pro” which is coming out shortly. If you are interested to receive our guide or want 1-on-1 guidance on the above, please reach out to us
As a final note for anyone thinking of applying for any graduate scheme or summer internship in UK ( the advice is true for any one applying from JP Morgan graduate scheme to NatWest graduate scheme to EY graduate scheme ), be patient, be consistent (2-3 hours a day effort everyday) and keep going even when your friends have already secured roles for next year or you have received rejection from your dream company. Remember you just need 1 job to start your career.
If you are an student interested in a career in finance or investment banking in UK and applying for graduate schemes in UK or summer internships in UK? Book your free 30 min appointment now with us to see we can support you in forming a strategic plan to get your dream investment banking job in UK., We provide end to end handholding for students on a 1-on-1 basis tailored to your objectives to maximize your chances of getting a coveted investment banking or finance job in UK. Book your appointment now www.edufinproject.com