Tackling the application form
Application forms are the first hurdle to getting into investment banking - and the one at which most people fall. Here's how to get them right.
Academics
Competition to get into investment banks is intense, and while banks are cagey about the precise academic credentials they look for, it's safe to say that you'll need to be a fairly high performer. At university you'll need - or will need to expect to achieve - a grade point average of between 3.2 and 3.3 at the least, for example.
Extra-curricular activities
Yes, banks want people who are academic high achievers, but they're also looking for people who have a little extra oomph. Extra-curricular activities are an excellent way of demonstrating this.
"We look at academic qualifications, relevant work experience, involvement in extra-curricular activities, leadership roles undertaken as well as genuine interest and commitment to banking and the financial industry," confirms Vincent Chow, assistant vice president for Citi's markets and banking human resources department, Asia-Pacific.
"An application form is an opportunity for the candidate to shine above other applicants and demonstrate their strengths and capabilities on paper. Good education, extra-curricular activities and well thought-out, considered answers separate the good from the bad," says Gordon Kir, head of campus recruitment, Asia Pacific, at Credit Suisse.
Spelling and grammar
You may be an academic high performer, but you're not going to wow recruiters if your application contains spelling errors or grammatical inconsistencies.
"Candidates fall down in the first instance with a poor application form - there might be spelling or grammatical errors, or unimpressive answers to the questions," says Kir.
"Answers should be structured clearly, be concise and show attention to grammar and spelling: first impressions count," advises Matthew Henderson, head of Asian campus recruiting at UBS.
One way of avoiding spelling mistakes is to fill in the form offline, or even to answer the long questions in a Word file first and copy the text across into the form. Use a spell-checker, and print out your response before finalising it - it's often easier to spot mistakes in printed form.
Specific examples
Application forms often ask questions such as "When was the last time you showed leadership skills?" Answering them properly will require you to be as specific as possible.
"We look for creative yet convincing answers to demonstrate ways in which the prospective candidate could contribute to the firm," says Chow. "Citing concrete examples of demonstrated leadership behaviour would be helpful. We also look for answers that relate to how the candidate could apply his/her skills to the requirements of the job."
"The key is showing awareness of the underlying skills and competencies required to be successful in their role and being able to add to this through their experiences to date," explains Henderson.
For example, a good answer might begin with something along the lines of: "I was one of the organisers of the end-of-year student event at college. Together with two others, I was responsible for a $5k budget which I allocated across bands, food and drink, preparing the venue and marketing."
Research
Banks will look for evidence that you a) know about them, and b) know about the particular business you are applying to.
"During the online application we look for students with a strong understanding of UBS and appreciation of their chosen business area," says Henderson. "Research is therefore essential, whether this be through the wealth of information available online, or through other means, such as speaking to those already working in the industry."
