Banking and investment offers a wide range of opportunities, and you’ll find our alumni working in the sector all around the world. Popular areas include investment banking and asset management.
Investment banking can be broadly split into two sections: corporate finance and advice (M&A, loan finance, capital markets); and markets (trading, sales and research). Asset management involves deciding where to invest large sums of money for corporate and individual clients.
Many of these roles also require infrastructure support such as risk management, compliance, finance, IT and operations.
Where can you work?
Investment banks can be split into the following sub sections.
- Bulge bracket firms – the biggest firms, with the most profitable investment banking divisions, e.g. Goldman Sachs and JP Morgan.
- Big deal challengers – stand alongside the bulge bracket but may have slightly smaller offices/deal teams or particular specialisms/global reach, e.g. BNP Paribas and HSBC.
- Emerging market experts – a select number of investment banks focused on emerging markets, e.g. Standard Bank and Standard Chartered.
- Pure advisory firms – focus on giving advice to their clients, but do not provide access to capital markets or raising funds, e.g. Lazard and Rothschild. Often referred to as ‘boutiques’.
- Asset management firms & Hedge Funds – can be stand-alone firms or an arm of an investment bank, e.g. Blackrock, Fidelity and JP Morgan Asset Management.
- Private Equity firms – perhaps the most sought after of all financial service roles. Also include Sovereign Wealth Funds. Difficult to get into straight after graduation, e.g. Blackstone Group, The Carlyle Group and Sequoia Capital Partners.
- Private Wealth Management – many are smaller groups within larger financial institutions, e.g. Bank of America Global Wealth Management, RBC Wealth Management and Bernstein Private Wealth Management
What’s changing in the sector?
Banking and investment has seen considerable change and will continue to do so. Advances in technology continue to streamline many manual processes and have made a real impact on trading and sales roles.
Following the 2008 financial crisis there have been more regulatory changes, which can impact on profit. The future landscape of the financial industry may look slightly different, with smaller, more nimble organisations, fintechs and regtechs being able to disrupt the market.
CareerHub - jobs board targeting LSE students, including events and networking opportunities.
efinancialcareers – jobs and articles on the sector, includes useful student pages.
thegateway – good articles and insight into what banking and investment is.
Targetjobs – graduate jobs, internships and role profiles.
Inside Careers – graduate jobs, internships and role profiles.
Vault guides – detailed descriptions on sector, organisations and application process. Scroll down to ‘Vault: Career Insider’ and click on the link to log in.