Investment Banking & Consulting Career Guide
SEPTEMBER FULL-TIME RECRUITING
Investment banks and consulting firms generally recruit only once a year in September for full-time employment. If you are graduating in the next academic year and are interested in one of these industries - be ready to apply in the first week of September of your last year!
Have your resume updated, reviewed and prepared to apply by September 1st. Be sure to research the companies and industries and schedule a mock interview to prep for the interview rounds in late September and early October. Successful applicants may receive employment offers by the start of the spring semester, in advance of graduation!
Details: Keep an eye on BTT Gateway over the summer for more information and to apply.
Don't have an account? Open your account today to be ready for the fall semester - it takes less than 5 minutes to do.
Looking for an internship? These firms recruit for summer interns once a year as well, between December and January prior to the summer internship period. Don't miss this period - check out the help suggestions below to prepare.
CASE STUDY INTERVIEWS
Investment banks and consulting firms are more likely than not to conduct case study interviews rather than the traditional behavioral interview. What is a case study interview? Learn all about case interviews, how to prepare, what to expect and how to strategize for your winning interview at our Case Study Interview page.
GET HELP FROM LACS
Liberal Arts Career Services is available to help you...
- Update and Strengthen your Resume: Meet with a career coach.
- Prepare for the Interview: Learn all about case study interviews, and visit a career coach for additional help. Once you feel comfortable with the case interview format, schedule a mock interview to practice with a career coach (call 512-471-7900 for more info).
- Research: Research the industry or firms of interest to you.
- Visit a Career Coach: Discuss your career search strategies with a career coach and get personalized assistance.
Call LACS for more info, help and to set up a career coaching appointment: 512-471-7900.
What is an investment bank?
An investment bank is a firm which provides consulting, research and financial services to governments and corporations. An investment bank may help these organizations in various ways, including raising capital by selling stock (underwriting the exchange of stock and funds), carrying out mergers and acquisitions and evaluating opportunities for infrastructure and financial investments (i.e., should my company open a plant in x country). An investment bank's key areas of focus are diverse. Goldman Sachs, for example, lists the following:
- Industries: Financial institutions, technology, media and telecommunications, healthcare, real estate, industrial, consumer and retail, natural resources, public sector and infrastructure.
- Products: Equity, leveraged finance, debt, financial advisory, and mergers and acquisitions.
- Regions: Americas, Europe, Asia, Japan, Middle East and Africa.
How is an investment bank different from retail and commercial banks?
Historically, the greatest difference was that investment banks did not take deposits from the public or offer loans or ATM services. However, this is no longer the case as many investment banks have entered the retail and commercial market and vice-versa (i.e., Bank of America, Barclays). When investment banks offer these services, they keep their retail and investment divisions strictly separate. A more contemporary answer to this question may be better put in terms of what the retail and commercial banks don't do, which investment banks do: offer consulting services to help governments and corporations use investment markets.
Continue Exploring Investment Banks
Download the "Vault Career Guide to Investment Banking" and other valuable IB resources. You can access Vault via your BTT Gateway account under the External Links tab.
Visit our Resource Library in FAC 18 to read our collection of relevant resources, including: "The Vault Guide to the Top 50 Financial Employers," "Vault Guide to Investment Banking," "Vault Investment Bank Diversity," "The Vault Guide to Case Interviews," and "Case in Point."
The Wall Street Journal: "Excel At The Job, First-Year Analyst Dress Code"
What is a consulting firm?
Consulting firms help corporations, nonprofits and governments in a variety of areas, including improving performance, increasing efficiency, growing with the market, accounting, ensuring compliance, growing or downsizing human capital and developing and launching new initiatives.
What do consultants do?
Consultants are problem solvers. Consulting firms are hired by organizations for their expertise in a specific area. In a nutshell: consultants are experts at providing in-depth analysis to understand the issue at hand, brainstorming solutions and developing a plan to help the organization implement change.
Types of Consulting Services
Consulting services can be categorized into eight main areas:
- Strategy Consulting - helping senior executives set goals, and understand and face high-level challenges of running a company or organization (Examples: Bain & Co., BCG, McKinsey).
- Operations Consulting - helping organizations reach their goals, focusing on implementation (Examples: Deloitte, PricewaterhouseCoopers).
- Information Technology Consulting - helping clients best leverage technology to meet their organization's goals (Examples: Logica, IBM Global Services).
- E-Consulting - helping solve problems associated with e-business and e-commerce (Examples: Razorfish, Sapient).
- Human Resources Consulting - helping maximized the value of employees through role placement, hiring and releasing employees (Examples: Hewitt, Towers Watson).
- Financial Services Consulting - helping financial institutions, capital market players and insurers perform in competitive markets (Examples: Charles River, Dean & Company).
- Government/Public Sector Consulting - helping government leaders make decisions by evaluating and researching issues and providing solutions (Examples: Arthur D. Little, Booz Allen Hamilton).
- Retail/Consumer Goods Consulting - helping businesses with consumer product sourcing, manufacturing, distribution, marketing, etc. (Example: Collaborative, Kurt Salmon).
Types of Consulting Firms
- Consulting firms can be categorized into four main types:
- Diversified firms which offer a wide range of services (Accenture, Deloitte)
- Information technology consultancies (Cambridge Technology Partners, IBM Global Services)
- Management and strategic consulting specialist (Bain & Co., McKinsey & Co.)
- Boutiques with focused areas of consulting in specific industries or areas (Gerson Lehrman, The 360 Company, EcoServe, Mars & Co.)
Examples of Top Consulting Firms
McKinsey & Company
The Boston Consulting Group
Bain & Company
Ernst & Young
Accenture (see also Accenture's "Careers in the U.S." Facebook page)
Continue Exploring Consulting Firms
Download the "Vault Career Guide to Consulting" and other valuable consulting resources. You can access Vault via your BTT Gateway account under the External Links tab.
Visit our Resource Library in FAC 18 to read our collection of relevant resources, including: "The Vault Guide to the Top 50 Consulting Firms," "Vault Guide to Consulting Careers," "The Vault Guide to Case Interviews," and "Case in Point.
"The Wall Street Journal: "Excel At The Job, First-Year Analyst Dress Code"