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In the sector of Investment Banking, how does one stand out in interviews? What are some important tips that investment bankers have when taking modeling tests? To address these questions regarding investment banking, the Business Career Development Committee (BizCare) invited Elavaani Uttamaram (Anil), Sagar Shah and Arnold Sim who are Investment Banking Analysts from Bank of America Securities, Credit Suisse and Barclays Corporate & Investment Bank respectively to the Industry Insights: Investment Banking Today Panel Discussion held on 23 March 2022.
Together, the speakers boast a diverse portfolio. Anil worked in Private Equity and Structured Finance prior to Investment Banking. Sagar and Arnold both have work experience in Merger & Acquisitions alongside their current positions. With the integration of their own unique expertise into their field, they possess the necessary skills to assist them in their investment banking ventures.
One insight that Arnold shared candidly was that investment banking analysts need to be able to collectively incorporate various skills into effecting successful decisions rather than solely specialize in one skill. Ultimately, investment banking is a sales job, and it is important to carry oneself well. He advises to openly network often, and not to shy away from asking questions as no one will fault you for asking seemingly bad questions as a student.
With regard to getting a return offer after one’s penultimate summer internship, Sagar shares that work ethic is one of the biggest reasons why people get a return offer or do not. He advises upcoming interns to not get ahead of themselves, and always ask good questions and get along with directors and superiors. Arnold added that being personable is one of the most important aspects, since being in an investment banking internship already suggests that you have good technical skills.
When asked about his Private Equity internship, Anil shared that it is not hard to attain a private equity internship, as many smaller firms and the vast majority of companies hiring do not convert to full-time roles. He adds that it is important to take on roles that are not specifically investment banking, but roles that help you to position your career story to fit your own narrative.
Layla Goh, BizCare Events Executive and event in-charge of this panel discussion hosted and moderated the discussion. She shared:
"This panel gave me a lot more in-depth details in terms of how to network with professionals in the Investment Industry. Moreover, the speakers were very thorough in explaining what their investment journey was like, providing me with more insider knowledge and how to secure or prepare for an Investment Banking relevant internship."
Following the speakers’ personal sharing and insights, our students gained a greater understanding of the skills needed in the investment banking sector, and became more aware of the current trends in the industry going forward.