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Getting into Investment Banking contracting

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    Getting into Investment Banking contracting

    Hi guys

    I need to use this forum much more. Great advice flying around. Anyway, as you can probably glean from the title, I would like to try and enter the investment banking industry as not only do they pay good rates but it seems 90% of the roles are within IB. At the moment the fact that I have no previous IB experience on my CV appears to be a show-stopper.

    I'm a PM/BA and have previous Consultancy experience and started my career in Retail Banking and therefore I'm confident that I have the requried skills set.

    Do you have any tips on how best to get a path into IB?

    Some tips I have been given include:
    - Go via the consultancies (Any recommendations would be appreciated)
    - Update all qualifications (Is this really necessary?)
    - Find a specialism (Easier said then done)
    - Network (I bdlieve this could be the way to go)
    - Play the numbers game and apply for loads of jobs (Would need serious amounts of caffeine!)

    Thanks in advance.
    Last edited by tkmk; 13 January 2015, 13:40.

    #2
    Do you really want a piece of London banking?

    Comment


      #3
      Originally posted by tkmk View Post
      Anyway, as you can probably glean from the title, I would like to try and enter the investment banking industry as not only do they pay good rats but it seems 90% of the roles are within IB.
      Yuk!

      Comment


        #4
        I have a few friends in the industry and my brother, and they seem to have no complaints and work decent hours. So I figured it's worth a shot.

        Comment


          #5
          Originally posted by stek View Post
          Yuk!

          Lol! Good spot. Any advice on this?

          Comment


            #6
            The trouble with investment banking is that even there are ups and downs it's in structural decline. i.e. they make less money than they used to. This means whereas anyone could have got in an Investment Bank in early 2000's now it's more difficult because there are plenty of contractors already with experience with whom you have to compete. A shrinking sector is very hard to break into.

            As a PM it's doubly hard because it's hard to sell some generic skill as you can as a techie. You need domain knowledge. Retail banking is a good start but Investment banks are actually quite different, unless you were working on trading systems which the odd retail bank sometimes has.

            Just go on jobserve and apply for what you see, that's how I used to get contracts in IBs. I think however you'll find it difficult unless you have intimate knowledge of something like Frank-Dobbs (i.e. the IB regulations).

            Probably your best bet is to apply to consultancies, but I wouldn't hold up high hopes.
            I'm alright Jack

            Comment


              #7
              Originally posted by BlasterBates View Post
              Just go on jobserve and apply for what you see, that's how I used to get contracts in IBs. I think however you'll find it difficult unless you have intimate knowledge of something like Frank-Dobbs (i.e. the IB regulations).
              Thanks! I think you've neatly summarised the issues. It might simply have to be an approach of applying in numbers via jobserve.

              Comment


                #8
                Originally posted by tkmk View Post
                Hi guys

                I need to use this forum much more. Great advice flying around. Anyway, as you can probably glean from the title, I would like to try and enter the investment banking industry as not only do they pay good rats ...
                <John Wayne>
                The only good rat is a dead rat ..
                </John Wayne>
                Work in the public sector? Read the IR35 FAQ here

                Comment


                  #9
                  Originally posted by tkmk View Post
                  Hi guys

                  I need to use this forum much more. Great advice flying around. Anyway, as you can probably glean from the title, I would like to try and enter the investment banking industry as not only do they pay good rates but it seems 90% of the roles are within IB. At the moment the fact that I have no previous IB experience on my CV appears to be a show-stopper.

                  I'm a PM/BA and have previous Consultancy experience and started my career in Retail Banking and therefore I'm confident that I have the requried skills set.

                  Do you have any tips on how best to get a path into IB?

                  Some tips I have been given include:
                  - Go via the consultancies (Any recommendations would be appreciated)
                  - Update all qualifications (Is this really necessary?)
                  - Find a specialism (Easier said then done)
                  - Network (I bdlieve this could be the way to go)
                  - Play the numbers game and apply for loads of jobs (Would need serious amounts of caffeine!)

                  Thanks in advance.
                  Tip: first decide what you are, PM or BA.

                  Comment


                    #10
                    Originally posted by tkmk View Post
                    I have a few friends in the industry and my brother, and they seem to have no complaints and work decent hours. So I figured it's worth a shot.
                    I hope you and your brother can patch things up.
                    Originally posted by MaryPoppins
                    I'd still not breastfeed a nazi
                    Originally posted by vetran
                    Urine is quite nourishing

                    Comment

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