Applications & working in a bank thread
hey everyone, long time lurker here. as a part of my bachelor degree, the entire last semester consists of a mandatory internship. i studied accounting and finance, and i would love to work in a bank.
now is the time for me to apply, and i will be sending out TONS of applications all over europe.
if anybody here has experience of working in a bank, and would like to share details, important things to know, or maybe even tipps and help for cover letters, i would greatly appreciate it.
>>1256130
Post your resume so we can critique it.
Also what kind of banking jobs are you looking at?
>>1256130
At bank job. Ask away.
not op, but how do i make it into 12 hour work hours making 6 figures in a bank? i dont care about anything else
>>1256148
Investment banking analyst. Network. Know VBA extremely well. Know everything about investments. Be an office bitch. If you didn't graduate top 3% in your class don't bother.
>>1256148
Easiest path is going to a top school and knowing your shit when its time to get those summer internships
How do I become a quant? I'm in applied math undergrad but I have potential.
>>1256154
Double major math/stats and computer science. Masters in something that seems quant based at a close university that doesn't suck. Know how to problem solve over code monkey.
>>1256175
I think I got it.
>>1256145
Hey I'm really interested in starting my career in banking. I want to be a teller since its entry level, what tips do you have for the application process?
>>1256190
A teller job is incredibly easy to get. You won't make very much and it's very difficult to move up. Most important is having a vetted work history and zero criminal charges. Tellers in my geographic area start at 27k and quickly move to 30k with a rotating work week. Establishing dependability is the biggest issue. Turnover and risk of turnover is a huge issue with tellers.
>>1256152
>If you didn't graduate top 3% in your class don't bother.
Bullshit. no employer is going to be looking at your class averages. If you meet the minimum criteria on their graduate job page, it's entirely on your shoulder's how far you get in the process. If you weren't the smartest and you're aiming for a real gilded bank, you'll have to work your ass off to get through, but it's entirely doable.
>>1256208
But it's true that if you have a "cum laude" or "(hons.)" degree you'll increase your chances, right?
>>1256208
They don't, but if one didn't work hard to get decent grades in school why would that change? Be honest with oneself. Find a different job.
>>1256219
Degrees are just signalling to employers that you're smart. Plenty of people don't have degrees and are smart. Just as long as you meet the requirements advertised, have a decent CV and aren't a fucking sperg in the interview, you'll get through the front door and have a chance to show them you're capable
>>1256222
You never know if you don't try. What have you got to lose? a few hours making an application. Are you happy just cowering away from your dream job because "my grades aren't top 3% I can't do it"? If you aren't good enough, you wont meet the requirements. If you're eligible, then fucking try
>>1256142
long story short, i have very little work experience. note: i am not in america, so the industry works a lot different here, and getting into a bank is not as prestigious as in america. i always see rediculous requirements listed by people here, but i know a lot of people that got into the banking industry without any work experience, just a simple degree.
>>1256231
>Degrees are just signalling to employers that you're smart. Plenty of people don't have degrees and are smart. Just as long as you meet the requirements advertised, have a decent CV and aren't a fucking sperg in the interview, you'll get through the front door and have a chance to show them you're capable
Okay, say I want to get an internship at some firm, what kind of "work experience" do they expect you to have?
I was a stocker boy at walmart and did some weeks of HVAC work with a friend, do I put that on my resume or is that irrelevant?
What i need are example motivational letters, anyone here that can post theirs? im in no way going to use it, just getting a feel for the structure/etc.
>>1256235
It's not prestigious at all here. Millions of idiot admininstration roles.
>>1256231
>meet the requirments advertised
That's what I'm saying. You have to meet the requirements. Investment managers only hire the top of the top. A degree itself doesn't cut it. You have to have a degree and also be top of the applicants. A good signal of that is where you stand with direct peers. It's not a fucking admin assistant job.
>>1256236
I wouldn't hold it against you, but only extended work or moving up would add to your resume. At least in my perspective. Every resume reader is different.
>>1256236
It's better than nothing. What do you think looks worse to an employer?
A CV with fucking nothing in the experience section or a CV that says you worked as a stoker boy? They aren't going to assume you're just withholding your great experience.
Admin looks better, but you do what you can with the cards you've been dealt.
>>1256254
That's more ideally how I feel. If you worked for 3 months, dont put it. 2 years, definitely put it. You're trying to properly signal. If you didn't work you need to have a legit reason ready.
>>1256238
Motivational? Okay
>>1256262
What the hell, I'm only in uni, what kind of work do they expect me to do?
>>1256293
Research assistant, internship, part time for a long time to pay bills, E-board of an organization, regular volunteering, write a paper under a professor, get certifications
>>1256280
what the fuck
>>1256302
Yeah I'm asking what experience internships expect you to have.
What can I do with a MSc Finance?
What do employees value the most? Having leadership roles for societies and clubs, or relevant working experience?
>>1256316
GPA and networking are the key factors in internships. They don't expect you to have much experience. Go to networking events around campus and town and get to know recruiters. I know my bank does outreach programs to local universities. The things I said other than internships help too if you can do any of those. Sorry, I didn't know what you meant before.
>>1256348
>Go to networking events around campus and town and get to know recruiters
What do you mean by getting to know the recruiters? Are you saying get to know them at a personal level, similar to your friends? If so, how often do recruiters agree to 'becoming friends' with undergrads?
>>1256346
I don't understand the question, first one you can google. I think you mean what do employers desire the most, and that's degree, work experience, and desire to take on and assist with more tasks than in the job title.
>>1256353
There's no such thing as becoming friends with a recruiter. Put yourself in their shoes. You can BS with them and get on their short list for recruitment leads. Why follow leads for employment when one came to you? In business you'll know hundreds of people you BS with but don't give a fuck about. That's networking. They don't care about you either.
>>1256303
Do your own due diligience. We won't make a resume for you.
>>1256154
Anyone here a quant? How would it compare to simply being a data scientist which seems to pay well and have like half the work?
>>1256152
This is such obvious bs. You dont need vba for most IB roles and you can certainly get in withput being in the top 3%.
>>1256235
I am also from Europe and I can assure you that it is even harder over there. Landing an IB job in London as an outsider is more competitive than in the US because the hiring process is less structured and there are overall less open positions right now.
>>1256368
What do recruiters gain from networking?
How would a recruiter recommend someone that they have just met?
>>1256402
Recruiters find a good employee and have a cash benefit or other incentive. These recruiters have an incentive to find employees that will be ulimatrly hired. If you come up to them and are solid enough lead, they will talk to you when their hiring manager asks them to find another employee. I don't know how else to put it.
>>1256398
It's a figurative measure among peers. Read my other response. You don't need to know VBA. You'll do great without it. I'm sure they'll put the undergrad on powerpoint editing duty
>>1256398
Quit lying you little fuckstick. Our London office is second to our NY office and everyone within the bank fucking knows it. Don't act like it's harder to get a job in London than in NY in an up OR down market. Just be good at your fucking job and don't fuck up. I can't stand kids that lie to themselves to make them feel better about the position that they put themselves into.
>>1256587
Wtf are you talking about? Try actually reading my post you fucking imbecile. When did I say that the people in London are more talented?
The fact that your NY is better than the London office says nothing when it comes to level of competition for an IB analyst role. Competition in the US is fierce but at least there are some jobs, while the banks in Europe aren't even hiring. Meanwhile every other white male with a brain in the UK wants to be a banker.
>>1256130
Been working in Private Wealth Management at UBS for just over a year and it's not very fun. Why do you want to work in a bank? Legit question anon.
>>1256921
Misread your post, my bad. IB is competitive anywhere that you apply, that's just the nature of the beast. It's the job that M&A was back in the 90s, or EM-debt was in the early 2000's. It makes the most and is at the top of the financial food chain so more people shoot for that job. If you'e in IB, then props, you earned it in one way or another.
movies make wallstreet banking jobs look so much fun
>sick bantz with the bankster buds
>make shit loads of money
>exotic parties
>sweet offices
>life of luxury
>perfect amount of /fa/ sleeplessness and despair
>>1257114
What M&A, ECM and DCM business are you talking about if not IB?
>>1257015
i thought its interesting, and it should feel great working at such a prestigious company? no?
>tfw ubs is my dream bank
>>1256348
Cool! My GPA is 4.0, and I will look into what banks organise those events in my uni. Thanks.
>>1256152
>best 3%
Kek. I've been working as an analyst in a major bank for years. Here are the operators I have used:+,-,*,/. I have never used an exponent or a square root.
>>1257950
>What education do you have?
>Tips for people who wish to become analyst's?
>What a day in the life for you
>Salary
And more general tips would be appreciated
>>1258139
Literally half of what you asked is none of your goddamn business. Why do kids think they can ask how much someone makes? You think you'll get paid the same as him even if he tells you? Fuck off.
>>1258143
Are you retarded?
I was curious about his education, what he would do in a normal day and a few tips and considering he said he's been working in a major bank for 'years' i was curious to see if he would be earning upwards of a certain figure. I wasn't asking for the identical number he fucking earns you retard.
Your response is so fucking edgy, the fact you said 'Why do you kids' just makes me think you're one of those 23+ unemployed drop kicks that haven't achieved anything in there life..
I guarantee i'm a lot younger than you and have achieved things you'll never achieve hehe xd
>>1258209
>hehe xd
kill yourself
>>1257667
I interned at UBS, Investment Banking though. Not Wealth Management.
Why do you guys consistently repeat in this post I want to work in a bank? Can't you even do proper research? There are tons of different positions/departments at banks each with its different or unique requirements.For gods sake. There are tons of specialised webpages for that.
Also >>1256152
>If you didn't graduate top 3% in your class don't bother.
I am not top 3% and I managed to get an IB internship. Whatcha gonna say about it?
>>1258288
Why in the world would you go from IB to PWM? Seems like a terrible idea to me but I am genuinely curious
