London Business School's latest CV book demonstrates just how challenging it is to get a good investment banking job these days
London Business School has issued a CV book for its students who aspire to work in investment banking. There are 75 of them, studying everything from the Masters in Finance, to the Executive MBA, to the Masters in Management to the straightforward MBA.
Each is paying anything from 24k for the Masters in Management, to 58k for the Executive MBA (although some of these fees might be covered by current employers in the case of the EMBA), in the hope that their careers will be transformed.
One describes his objective as: "To obtain a position in the investment bank."
However, the investment banking CV book also underscores the difficulties faced by experienced candidates trying to get a foothold in investment banks.
Several of the 20 MBA students on the list have more than ten years' experience.
One was working in top tier banks prior to the Lehman-crash, did something completely different immediately afterwards, and re-entered banking at a lesser-known firm.
One French MBA student has being doing internships intermittently since 2002. Another US student has been doing financial services internships since 2007.
All are clearly pinning their hopes on an MBA to either get them back into the top tier or land them a permanent position. It may work, but 54k is a steep price to pay for that privilege.
