Introduction

It’s important to do your research and apply early. Applications are advertised through employer and industry specific websites as well as CareerHub. Most investment banks and asset managers require you to have completed a relevant internship prior to securing a full time graduate role.

If you’re looking to gain experience

First years can get a feel for what to expect through the 1-2 week 'spring weeks' offered in the Easter vacation, but the main route in is through a summer internship between your 2^nd and final years, or following your Master's degree. Applications generally open as early as July and close from end October to December.

If you’re early on in your career

If you have a relevant Master's and/or relevant internship experience in the financial services industry, you may be able to apply directly for graduate analyst roles. Look out for early deadlines as most banking and investment firms convert summer interns into gradate hires, meaning there are a limited number of graduate level roles to apply to.

Many of the smaller and boutique firms recruit year-round, so it is worth looking out for the opportunities on industry specific websites and CareerHub.

If you have more experience

The best route for you is likely to be through specialist recruitment agencies and search firms, networking within the sector and applying directly for roles advertised on company websites.

If you’re changing career

The banking and investment sector tends to recruit at graduate level and train up through the organisation, so moving into the sector at a later stage can be tricky. Depending on how large the jump is, it’s often necessary to take some stepping stones to gain relevant experience. This could be an internship or low level direct entry role. You should also utilise your networks to learn more about the industry and easiest routes in.

Not sure what to do next?

We're here to talk over your career plans with you. It doesn't matter what stage you're at, so don't feel you have to have it all worked out. You can book a one-to-one appointment with a careers consultant on CareerHub.

There are numerous different roles in this sector. We’ve outlined some of the major ones with links to where you can find more information. If you can, try and talk to someone who’s doing the job you’re interested in, so you get a real flavour of what it's like. Recruiters look for a clear understanding of the differences between roles.

• Mergers and Acquisitions (M&A) – advises clients on large corporate transactions, e.g. the sale and purchase of other businesses or parts of businesses, from strategy, through evaluation to exchange. The efinancialcareers explanation of careers in mergers and acquisitions provides a useful overview. [article from 2017]
• Loan Finance – advises clients on how to raise money from banks or other lenders. Specialised areas include leveraged finance (acquiring a target company) and project finance (funding an infrastructure project).
• Capital Markets – advises clients on the best way to raise money on the public markets through issuing equity, shares or bonds. The efinancialcareers explanation of careers in equity capital markets provides further details.[article from 2015]
• Trading – executes all the trades, usually specialising in a particular kind of asset such as commodities, options and futures. The ability to analyse vast amounts of information and react quickly are key skills. The efinancialcareers graduate guide to sales and trading links to several relevant blogposts. The Prospects' Financial trader job profile provide more information.
• Sales – first point of contact for clients interested in using the bank’s trading services, usually specialising in a particular industry/geography. Studies reports from research teams to develop expertise and advise clients.
• Research – analyses data, forms opinions and produces reports for use by the rest of the bank. Usually focusing on one industry/geography. Mainly used by sales team but also used by traders, investment banking side and sometimes clients. The efinancialcareers graduate guide to research in investment banking links to several relevant blogposts.
• Risk Management – ensures that trading risks taken are in line with the organisation's risk appetite. Runs reports, analyses risks and talks to traders about risk exposure. Visit the Prospects Financial risk analyst job profile and the TARGETjobs overview of Risk management and control to find out more.
• Compliance – ensures a company complies with its external regulatory requirements and internal policies. The Inside Careers Compliance officer role description and the Prospects Compliance officer job profile are useful resources.
• Operations – ensures the vast quantities of information, money and products are flowing correctly and transactions are processed every day. The TARGETjobs overview of Operations and the Prospects Operational investment banker job profile provide further details.
• IT – provides all the IT services used by the many business areas. Check out the TARGETjobs overview of IT and technology in investment banking.            
• Asset Management/Investment Management/Hedge Funds – manages money by investing it in a variety of asset classes including equities (or shares) and bonds. Takes care of large sums of money for corporate and individual clients. Ensures portfolios are well managed and investment opportunities are highlighted. Candidates often move onto hedge funds once they’ve gained experience. The Prospects Investment analyst job profile will tell you more.
• Private Wealth Management – provides high net worth clients with professional advice and services that help them manage their finances as efficiently as possible. This can include financial planning, investment management and advice on tax, pensions and inheritance. The TARGETjobs overview of Private wealth management provides further details.
• Private Equity – specialises in buying companies, reshaping them and selling them on for a profit. People tend to join PE once they have some experience at an Investment bank as they use many of these services to raise capital.