Intro
Break into investment banking with a non-traditional background. Discover how military enlisted personnel can leverage their skills to transition into a lucrative career in finance. Learn 5 strategies for overcoming obstacles, building relevant experience, and networking with industry professionals to land a coveted role in investment banking.
Transitioning from a military career to the finance industry can be a challenging but rewarding experience. For military enlisted personnel, breaking into investment banking can seem like a daunting task, but with the right skills, knowledge, and networking, it's achievable. Here are five ways military enlisted can break into investment banking:
The skills and discipline learned in the military can be valuable assets in the finance industry. Many investment banks value the leadership, teamwork, and problem-solving skills that military personnel possess. However, there are specific steps that military enlisted can take to increase their chances of breaking into investment banking.
First and foremost, it's essential to understand the requirements of the investment banking industry. Investment banks typically look for candidates with a strong academic background in finance, accounting, or a related field, as well as relevant work experience. Military enlisted personnel may not have the traditional background, but they can still develop the necessary skills and knowledge to be competitive.
One way to do this is by pursuing higher education. Many universities offer programs specifically designed for veterans, which can help them transition to a civilian career. Additionally, online courses and certifications can provide a foundation in finance and accounting.
Networking is also crucial in the investment banking industry. Attend industry events, join professional organizations, and connect with people who work in the field. This can help build relationships and provide valuable insights into the industry.
1. Leverage Military Skills and Experience
Military personnel possess unique skills that are valuable in the investment banking industry. Leadership, teamwork, and problem-solving skills are essential in the military, and these skills are also highly valued in finance. Additionally, military personnel are often accustomed to working in high-pressure environments, which can be beneficial in the fast-paced world of investment banking.
To leverage these skills, military enlisted personnel should highlight them in their resume and cover letter. Emphasize specific experiences and skills that are relevant to the finance industry, such as financial management, budgeting, or project management.
Furthermore, many investment banks have programs specifically designed for veterans. These programs can provide a foot in the door and help military personnel transition to a career in finance.
Example of Military Skills Transferring to Investment Banking
- Leadership: Military personnel are often in leadership positions, which can translate to leadership roles in investment banking.
- Teamwork: Military personnel are trained to work as a team, which is essential in investment banking where teams work together on deals.
- Problem-solving: Military personnel are trained to think critically and solve problems, which is valuable in investment banking where complex financial problems need to be solved.
2. Pursue Higher Education and Certifications
While military enlisted personnel may not have a traditional background in finance, pursuing higher education and certifications can provide a foundation in finance and accounting. Many universities offer programs specifically designed for veterans, which can help them transition to a civilian career.
Additionally, online courses and certifications can provide a foundation in finance and accounting. The Chartered Financial Analyst (CFA) program, for example, is a highly respected certification in the finance industry.
Example of Certifications for Investment Banking
- Chartered Financial Analyst (CFA) program
- Certified Financial Planner (CFP) certification
- Certified Public Accountant (CPA) certification
3. Network and Build Relationships
Networking is crucial in the investment banking industry. Attend industry events, join professional organizations, and connect with people who work in the field. This can help build relationships and provide valuable insights into the industry.
Many investment banks also have mentorship programs specifically designed for veterans. These programs can provide guidance and support as military personnel transition to a career in finance.
Example of Networking Opportunities in Investment Banking
- Attend industry events, such as conferences and seminars
- Join professional organizations, such as the CFA Institute or the Financial Planning Association
- Connect with people who work in the field, such as through LinkedIn or informational interviews
4. Consider an Internship or Fellowship
Many investment banks offer internships or fellowships specifically designed for veterans. These programs can provide hands-on experience and help military personnel build relationships in the industry.
Internships and fellowships can also provide a foot in the door and help military personnel get hired by the investment bank after the program is completed.
Example of Internships and Fellowships in Investment Banking
- Goldman Sachs Veterans Internship Program
- J.P. Morgan Veterans Fellowship Program
- Morgan Stanley Veterans Internship Program
5. Tailor Your Resume and Cover Letter
When applying for jobs in investment banking, it's essential to tailor your resume and cover letter to the specific job and industry. Highlight relevant skills and experiences, and use language from the job posting to describe your qualifications.
Additionally, many investment banks have specific requirements for resumes and cover letters. Make sure to follow these requirements and tailor your application materials accordingly.
Example of Resume and Cover Letter Tips for Investment Banking
- Use language from the job posting to describe your qualifications
- Highlight relevant skills and experiences
- Tailor your resume and cover letter to the specific job and industry
By following these five steps, military enlisted personnel can increase their chances of breaking into investment banking. Remember to leverage military skills and experience, pursue higher education and certifications, network and build relationships, consider an internship or fellowship, and tailor your resume and cover letter.
Investment Banking Image Gallery
What skills do I need to break into investment banking?
+Investment banks typically look for candidates with a strong academic background in finance, accounting, or a related field, as well as relevant work experience. Additionally, skills such as leadership, teamwork, and problem-solving are highly valued in the industry.
How can I network in the investment banking industry?
+Attend industry events, join professional organizations, and connect with people who work in the field. This can help build relationships and provide valuable insights into the industry.
What certifications are beneficial for investment banking?
+Certifications such as the Chartered Financial Analyst (CFA) program, Certified Financial Planner (CFP) certification, and Certified Public Accountant (CPA) certification can be beneficial for investment banking.