Investment Banking Insights

Introduction

  • Conversation between two individuals discussing academic and career paths in finance.

  • Speaker 1 is a finance major considering investment banking.

  • Speaker 2, Henry, is a graduate with experience in the field, currently working in investment banking.

Background Information

  • Speaker 1 graduated in May 2025, currently in finance aiming for investment banking.
      - Discussion on needed experience through investment banking to explore other finance sectors (e.g., wealth management, trading).

  • Speaker 1's sister works in investment banking at Wells Fargo.

Henry's Background

  • Henry graduated from LMU (Loyola Marymount University) with a finance major.

  • Hails from Denver, Colorado.

  • Transitioned from uncertain interests in finance to a specific focus on banking through classes and conversations.

  • Participated in a non-traditional interview process after studying abroad, not involved in a formal internship program.

  • Past interned at a small investment bank called Bartico in Los Angeles.

  • Currently employed at Kroll as part of the healthcare team within investment banking.

Current Role and Responsibilities

  • Working in Investment Banking:
      - Henry works on the sell-side primarily for founder-backed companies in the middle to lower middle market.
      - Typical enterprise values of deals worked on range from $100 million to $300 million.

  • Day-to-Day Responsibilities:
      - Focus on creating materials for transactions (PowerPoint presentations).
      - Conduct data analyses in Excel and manage administrative tasks, such as updating Salesforce and organizing meetings.

Academic Preparation and Skills

  • Importance of classroom knowledge coupled with self-learning for banking roles.

  • Familiarity with Excel and PowerPoint is pivotal in banking tasks.

  • Transitioning from a relaxed academic environment to a fast-paced workplace:
      - Not overly jarring; requires adaptation but encourages rapid skill acquisition.

  • Culture shock acknowledged but deemed manageable with a structured routine.

Networking and Career Growth

  • Networking:
      - Critical to success in investment banking; advised to begin early and build relationships before applying for positions.
      - Suggestion to connect with individuals both within and outside the LMU alumni network.

  • Henry's involvement in LMU events contributed to his career growth and connection maintenance.

Life Lessons and Skills Acquired

  • Experience at LMU emphasized the need for self-study and independent problem-solving skills.

  • The importance of finding information proactively to succeed in finance roles.

  • Similar to learning to swim by being thrown into the pool; it encourages adaptability.

Time Management and Task Prioritization

  • Balancing multiple responsibilities and meeting deadlines is crucial, communicating timelines effectively can be challenging.

  • Daily routine includes the following:
      - Arrive at office between 8:30 and 9:00 am.
      - Clear out the inbox and prioritize tasks based on urgency.
      - Work on slides, analysis, and administrative tasks throughout the day.

Advice for Aspiring Investment Bankers

  • Networking is essential: build relationships before recruitment begins.
      - Existing connections can ease the transition into the interview process.

  • Encourage cold outreach via LinkedIn to connect with potential industry contacts.
      - Emphasizing persistence and volume in outreach efforts.

Understanding Career Role and Structure

  • Henry holds the title of Investment Banking Analyst in the Technology and Business Services sector.

  • Career Progression in Investment Banking:
      1. Analyst: Primary responsibility for material creation, running analysis, and administrative tasks.
      2. Associate: More managerial, ensuring quality control between junior and senior bankers.
      3. Vice President: Involved in deal execution, significant responsibilities in deal management.
      4. Director / Managing Director: Focus on securing new business, directing processes rather than performing detailed tasks.

Personal Reflections on Investment Banking

  • Acknowledgment of the competitive nature of the field; experience of colleagues and personal apprehension about the culture.

  • Perspective on different paths within finance, including wealth management and trading, without needing investment banking experience.

  • Speaker 1 expresses uncertainty about their ultimate career path, considering options including entrepreneurship or trade school.

Conclusion

  • Speaker 1 appreciates the insights shared by Henry regarding investment banking and plans to maintain connections for continued learning and networking.

  • Henry encourages direct outreach and further exploration of one's career interests within finance.

  • Entire conversation focused on transitioning from academic experiences to professional realms, highlighting the importance of networking, self-study, and adaptability in the finance sector.