NYC IBD Help! - Cover Letter or NO Cover Letter
Looking to apply to some middle market IB positions in NYC. Found a bunch of recent postings that take me to third party job search portals to apply. Is this the most effective means of applying for the role or am I better off applying direct through the company's career site (provided they have one)? Do I submit a cover letter if there is a section to upload one even if the posting does not specifically mention to do so?
If you include a quality cover letter that is tailored to each bank, polished, has zero spelling/grammar/formatting errors, and displays a genuine interest for each specific bank/position then it can only help you. Yes, many people do not read cover letters however I have found that smaller MM and boutiques banks are more likely to and will give you big bonus points if its a good cover letter.
For example, I researched recent news about a MM bank that I was about to apply to and referenced recent acquisitions and a quote in a press release from an MD about the bank's optimistic growth prospects and included it in my cover letter. I then applied through the company's website and got a first round phone interview. The Associate I was speaking didn't even interview me, he just talked about how he was impressed with my cover letter and they definitely want people who know what they bank is all about, etc. and then he invited to come visit their office.
Note: If they specifically ask to NOT include a cover letter then I would not, otherwise see above.
Always include one. If 8/10 people don't and you do, you could stand out.
If you spend time on the cover letter and it is perfect, it can only help
Thanks for all the advice. Any thoughts on most effective means of applying whether it be directly via a company's website or through a third party site such as indeed, efinancialcareers, doostang, etc?
I would recommend applying directly through the company's career site. From my own past experience, whenever I tried applying through third party sites, I usually didn't hear back.
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