While in Undergrad

I guess I am still pretty clueless on how much leg work I have to do to break into banking. I have been working so hard on the networking, internships, and organization leadership that I wasn't even considering certifications, licenses, and CFA. Can any of the experts or recruiters on here help me out with this, like what is required or what would be expected? I am not coming from a target school, so I want to make myself as competitive as possible. All the advice that I have gotten on this site so far has been incredibly helpful, and I appreciate that professionals would take time out of their lives to help those of us starting out.

 

Not a professional, just in UG heading into IB. However, I've heard/read that CFA is unnecessary for banking, and the (significant) time would be much better spent in other ways (eg networking). You don't need any certifications or licenses to break into IB.

 
notthehospitalER:

Not a professional, just in UG heading into IB. However, I've heard/read that CFA is unnecessary for banking, and the (significant) time would be much better spent in other ways (eg networking). You don't need any certifications or licenses to break into IB.

This.

I dont know where the misconception that you need a CFA to work in IB comes from.

 

Also coming from an non-target, I think networking really is the key because sometimes people do get very impressed by how much initiative you show and they are willing to meet you halfway, that they actually go out of their way to give you informational interview opportunities.

...To be honest, sometimes I feel that bankers really appreciate a chance to step away from work during the day so they come out of their cubicles to give informational interviews to students to both relax a bit and look productive too.

And if you have to take some sort of standard exam to calm your nerves, try the Bloomberg Aptitude Test for laughs, it's free.

 
Best Response
Hassen:

And if you have to take some sort of standard exam to calm your nerves, try the Bloomberg Aptitude Test for laughs, it's free.

But if you do, don't expect it to get you a job/give you a significant leg-up in the recruiting process. All you need to do to get into IB is to cover the bases/tick the boxes enough to get you an interview, and then ace the technical questions and make the bankers like you enough to make them want to give you one of the x offers they are making.

Obviously the toughest part is checking the boxes on your application to make it strong enough to get you an interview- while the Bloomberg Test is a way to show interest, I don't think it helps in any way (just my opinion) because if you have no experience, it may show interest, but it won't make up for your lack of experience so you won't get an interview, and if you have enough experience to get an interview the test won't be necessary. I find it hard to believe this test would be what pushes an iffy candidate over the edge into the interview pile.

 

It's more of a thing for one to see where he stands and gain some reassurance; I took it when I had no clue about anything and it sort of showed me what "analysis" in finance might include too, just something very very basic. I mean, what the hell, it's free.

I do have it on my resume, just to stuff up a line so the page is full. And yeah, to show some interest. Sometimes bankers in informational interviews ask about it when they skim my resume because they literally have never heard of it.

 

Yep, I don't disagree with you/am not saying he shouldn't do it- just cautioning OP that if he does the BAT, he should know it's something that might display interest/initiative etc, but isn't something that will get him the job.

 

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