How to get into investment banking as a graduate

A career in investment banking is one of the most sought-after and competitive paths for ambitious graduates. In the UK, a global hub for banking, top firms like Goldman Sachs, Morgan Stanley, and JP Morgan dominate the landscape, alongside elite boutiques like Rothschild and Lazard. 

While the industry is known for its high salaries, prestige, and fast-paced environment, breaking in isn’t easy. How hard is it to get into investment banking? Very. But the good news is that by preparing early and strategically during university, you can significantly improve your chances. 

Investment banks and financial institutions actively recruit talented graduates, offering structured graduate schemes, internships, and spring weeks to find the next generation of finance professionals. If you’re aiming for a graduate role, it’s crucial to plan early and understand the industry’s expectations.

This article offers a top-level roadmap for students who want to understand how to get into investment banking and better equip themselves to navigate the competitive job market after graduation.

What does a career in investment banking look like?

The investment banking sector is vast, covering:

• Markets and specialist markets
• Investment banking
• Investment management
• Corporate banking
• Risk management
• Technology and operations
• Private wealth management

Within investment banks, roles are generally divided into front office (revenue generation), middle office (risk, compliance), and back office (operations, technology).

Starting salaries in banking and investment can reach £50 000 or more, often supplemented by bonuses. However, these roles come with demanding hours – 12-hour workdays are common. Despite the intense workload, many graduates find the high-energy, dynamic environment to be highly rewarding.

Entry pathways into investment banking for university students and graduates

There are three main entry points into investment banking for students and graduates: 

1. As an undergraduate at a top university: This is the most direct and affordable route. You need to start preparing very early – ideally in your first or second year – by securing internships and building financial knowledge.
2. As a recent graduate: If you graduate without an investment banking offer, you can pivot from related roles, like valuation jobs or corporate banking. However, the closer your work experience is to finance, the better your chances.
3. Through a top MBA programme: For those who discover investment banking after undergrad or who have unrelated work experience, completing a top MBA and networking heavily can offer another route into the sector. 

What is likely to be my first position in investment banking?

Most graduates start their career as an Investment Banking Analyst. In this role, you’ll:

• Build financial models to value companies
• Prepare pitchbooks and presentations for client meetings
• Conduct industry and market research
• Support senior bankers on live transactions such as mergers and acquisitions (M&A) and initial public offerings (IPOs)

Expect long hours, a steep learning curve, and a work environment that demands precision, stamina, and resilience. However, the rewards are significant: these roles often lead to a fast-tracked career in finance, the opportunity to work on high-profile deals, and a prestigious platform from which many other career paths are available. 

How can I prepare in university for a career in investment banking?

It’s vital to start thinking about preparation early – ideally from your first year at university. The earlier you begin building the right experience and networks, the better positioned you’ll be when it comes to apply.

Choose the right university (if you can)

In the UK, investment banking firms can be quite selective about where they recruit from. Target universities include Oxford, Cambridge, the London School of Economics (LSE), University College London (UCL), Warwick, and Imperial College London. ‘Semi-target’ universities like St Andrews, Durham, Bristol and Nottingham also have a presence, but competition is stiffer.

While attending a target school isn’t mandatory, it significantly increases your chances of landing interviews, internships, and being noticed by top firms. 

Pro tip: If you’re not at a target school, don’t panic, but networking becomes even more critical to make connections and get referrals.

Gain early experience and understand the recruitment cycle

The UK recruitment timeline and opportunities are quite distinct compared to other countries. Here’s what you need to know:

• Spring Week (first or second year): These one-week insight programmes are your first foot in the door. They offer students the chance to experience life at a bank, build networks, and potentially be fast-tracked to a summer internship offer.
• Summer Internships (penultimate year): Most full-time investment banking roles are filled through summer internships. Applications typically open in August/September the year before the internship starts. They often operate on a first-come, first-served basis, so it’s important to apply to an investment banking internship as soon as possible.
• Online tests and competency questions: After submitting an application, candidates must complete numerical, verbal, and logic tests, along with written “competency questions” that assess fit and behaviour. To help you succeed, you can practice extensively with sample tests.
• First-round interviews: If you pass the online screening, the next step typically will be a phone interview or HireVue (video interview). See our guide on answering investment banking interview questions
• Assessment Centres: The UK process often ends with an assessment centre (AC). At an AC, candidates undergo multiple interviews, group exercises (e.g. M&A case studies), and tasks like “e-tray” or “in-tray” exercises and report writing. We have some advice on what to expect from an investment banking assessment centre.
• Mentoring opportunities: Have a look at investment bank’s websites for other development opportunities they may offer, such as women’s leadership programmes.
• Career fairs: Look out for career fairs offered at your university and start gathering information about the field by chatting with people who have gone through the process. 

Pro tip: Prioritise spring week and summer internship applications alongside your studies – they are the most important stepping stones into a full-time offer.

What qualifications can I work towards while at university?

In the UK, most investment banking graduate schemes are open to graduates from any degree background. You don’t need specific professional qualifications to land an investment banking role – strong academics and relevant experience matter most. 

If you want to study a finance-specific degree at university, the best degrees to study for investment banking are:

• Economics
• Finance
• Business/Management
• Accounting
• Mathematics
• Engineering
• Physics
• Computer Science

Other strong options include:

• Law (especially for M&A and compliance-related work)
• Statistics
• Politics, Philosophy, and Economics
• International Relations (useful for cross-border deals, with strong financial internships)

If you are from a non-financial background, certain certifications can help you stand out:

• CFA Level I (Chartered Financial Analyst): Some ambitious students study for and sit Level I during their final year. It helps you show technical competence and commitment to finance.
• Financial Modelling and Valuation Courses: Online certifications (e.g. from Wall Street Prep or Breaking Into Wall Street) show proactiveness and technical readiness.

Remember, while extra qualifications are impressive, they’re supplementary. Employers still primarily value internships, academic performance, and soft skills. 

Is it possible to break into investment banking without a finance background?

Absolutely. While many candidates have degrees in finance, economics, or business, investment banks also recruit students from a wide range of disciplines – including engineering, history, philosophy, and even languages. 

In fact, many firms actively seek diversity of thought. What matters most is your ability to demonstrate strong analytical skills, commercial awareness, and the drive to succeed in a demanding environment. 

That said, if you’re coming from a non-finance background, you’ll need to work harder to build and prove technical competence (such as through financial modelling courses or certifications like CFA Level I) and to tell a convincing story about why you’re pivoting into finance.

Pro tip: Your degree doesn’t define your chances – your preparation does.

What skills do employers look for?

Investment banking firms value a strong combination of technical, professional, and personal skills. 

Here are a few of them, and how to demonstrate them:

• Numeracy skills: Taking maths and numeracy-related subjects and modules at A-levels and university
• Analytical ability: Case competitions, finance coursework, technical interviews
• Attention to detail: Shown through flawless CVs, cover letters, and polished presentations
• Communication: Gained by leading a society, public speaking, or client-facing internships
• Work ethic & resilience: Proven by balancing demanding academics with extracurriculars or part-time work
• Commercial awareness: Staying up-to-date on financial news (e.g. Financial Times, Wall Street Journal)

Pro tip: Build a clear ‘story’ around your skills by linking your experience to what banks want. 

What can you do at university to maximise your chances?

Here’s your action checklist:

• Join finance societies: Take part in your university’s finance, investment, or debating societies, and better yet – run for leadership roles to develop your skills.
• Network early and often: Attend insight days, speaker events, coffee chats, and alumni meetups
• Apply for Spring Weeks: These often lead to internships and ultimately full-time offers.
• Get internship experience: Even outside of investment banking-related fields, such as consulting and finance
• Use your university’s career services: Mock interviews, CV clinics, and alumni networks can be goldmines.
• Learn technical skills: Master Excel, basic accounting, and financial modelling while at university.
• Stay informed and interested: Read the Financial Times daily to build commercial awareness. 

Pro tip: Consistent small actions throughout university can add up to big results when application season comes around. 

What academic achievements should you aim for?

How hard is it to get into investment banking? In general, banks have high academic standards. You should aim for:

• A First Class or high 2:1 degree in university
• Strong A-level results (typically As and A*s)
• Good performance in quantitative subjects (maths, economics, and finance-related modules)

A strong academic background shows you can handle the intellectual demands of the role – and also helps you pass initial application filters. 

Final thoughts:

Breaking into investment banking is undeniably tough – but it’s absolutely achievable with the right strategy, preparation, and persistence. Whether you’re studying finance or English Lit, what ultimately matters is your ability to demonstrate drive, resilience, commercial awareness, and technical readiness. 

Start early, build experience, cultivate your network, refine your skills, and stay informed. If you approach the process methodically, you’ll stand out – and set yourself up for success in one of the most challenging, prestigious careers out there.