What an Investment Banking Associate at a Global Investment Bank Wishes They Had Known Before Entering the Investment Banking Industry
Trent's six-year journey into investment banking involved extensive networking, "speaking honestly with hundreds of different people," to understand the industry's challenges and opportunities across various firm types. This thorough due diligence, including conversations with professionals in diverse sectors, is advice Trent offers to aspiring investment bankers.
Networking, Career Exploration, Industry Realities, Job Search, Overcoming Challenges
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Trent Hammond
Investment Banking Associate
Global Investment Bank
University of Illinois at Urbana-Champaign - 2017
UCLA Anderson School of Management - MBA
Finance
Finance (Banking, Fintech, Investing)
Finance
Took Out Loans, Student Athlete
Video Highlights
1. Network extensively with professionals in the field, including those in different industries or firm sizes (boutiques vs. bulge brackets).
2. Thoroughly research and speak with many individuals to understand the challenges and growth opportunities within investment banking.
3. Don't make hasty decisions; take the time to conduct due diligence and gain firsthand experience before committing to a specific path within the industry.
Transcript
What have you learned about this role that you wish someone had told you before you entered the industry?
That's a great question. My career path into investment banking has been about six years in the making. Once I graduated, I started looking at opportunities available.
As I mentioned, a couple of my friends and roommates had worked in investment banking. So, for me, I was constantly asking them questions about why they chose investment banking and what the biggest challenges and growth opportunities were.
From speaking with them, going to business school, and going through the recruiting process, I spoke honestly with hundreds of people in the industry. I asked them how they managed their time, how they worked with difficult people, and how they knew which industry they wanted to enter.
This included understanding the differences between boutique shops, independent advisors, and bulge bracket firms. I feel like I've done my due diligence, and I think this is one of the biggest pieces of advice I would give.
People looking to find their path should meet with multiple people in different industries, even ones they might not initially be interested in. You don't truly know until you've spoken with someone who has experience in that field.
So, definitely do your due diligence and don't make decisions on a whim. Try to speak with and network with people at your school, and also with friends and family.