Discover how to get your start in the finance and banking industries In Breaking into Banking: The Essential Guide to a Career in Finance, renowned finance and careers commentator Afzal Hussein delivers a concise and up-to-date roadmap to getting your start in the world of finance and banking. You'll explore the different divisions and areas of the industry-including investment banking, global markets, investment research, asset management, operations, technology, hedge funds, private equity, and venture capital-how they work, and what they do. You'll also find information about typical career…mehr
Discover how to get your start in the finance and banking industries In Breaking into Banking: The Essential Guide to a Career in Finance, renowned finance and careers commentator Afzal Hussein delivers a concise and up-to-date roadmap to getting your start in the world of finance and banking. You'll explore the different divisions and areas of the industry-including investment banking, global markets, investment research, asset management, operations, technology, hedge funds, private equity, and venture capital-how they work, and what they do. You'll also find information about typical career progression routes, working hours, industry culture, compensation expectations, exit opportunities, titles, roles, responsibilities, and more. Breaking into Banking also provides: * Actionable advice that improves your chances for success when applying for roles across the industry * Strategies for effective networking, tackling imposter syndrome, and interview preparation * Techniques for identifying the best and most suitable career path for you and your circumstances Perfect for aspiring and young professionals interested in pursuing a career in finance and banking, Breaking into Banking is a must-read, no-nonsense playbook for jumpstarting your career in an industry that is as rewarding as it is complex.
AFZAL HUSSEIN is a former Goldman Sachs finance professional who has helped thousands of people enter and succeed in finance careers all over the world. He's passionate about demystifying the industry and equipping aspiring finance professionals with the tools they need to succeed.
Inhaltsangabe
Preface xiii Acknowledgements xvii About the Author xix Introduction: From Council Estate to Goldman Sachs 1 Part I The Industry 15 Chapter 1 The Industry Before and After the 2008 Global Financial Crisis 17 Chapter 2 Bulge Brackets Versus Boutiques 23 Chapter 3 Buy Side Versus Sell Side 29 Chapter 4 Asset Classes 33 Fixed Income (Debt) 34 Equities (Stocks) 34 Commodities 35 Currencies (Foreign Exchange) 35 Alternatives 36 Cash 36 Real Estate 37 Chapter 5 Divisions 39 Front Office 39 Asset Management 46 Investment Banking 53 Sales and Trading 57 Private Wealth Management 61 Investment Research 64 Middle Office 66 Back Office 68 Chapter 6 Roles, Responsibilities, and Career Progression 75 Executive Assistant 76 Analyst 77 Associate 79 Vice President/Executive Director 80 Director 81 Managing Director 82 Partner 84 Chapter 7 Salaries and Compensation 85 Chapter 8 Pros and Cons of a Career in Finance and Banking 89 Reasons for Building a Career in This Industry 89 The Downside of a Career in This Industry 93 Chapter 9 Private Equity, Hedge Funds, and Venture Capital 99 Private Equity 99 Hedge Funds 104 Venture Capital 109 Part II Breaking in 113 Chapter 10 The Application Process 115 CV/Résumé 117 Cover Letter 117 Motivational Questions 118 Psychometric Tests 118 Interviews 119 Assessment Centres 122 Offers and Acceptances 122 Background Checks 123 Chapter 11 Spring Weeks 125 Why Spring Weeks Are Important 126 What to Expect During Your Spring Week 128 How to Secure a Spring Week 130 Making the Most of Your Spring Week 133 Chapter 12 Internships 137 Summer Internships and Off- Cycle Internships 137 The Importance of Summer Internships 140 Chapter 13 Graduate Schemes 157 Structure of Graduate Schemes 159 Career Progression 160 Work- Life Balance 160 Chapter 14 Cv/résumé 163 Structure 163 Keep It to One Page 166 What to Do with Low Grades 166 Templates and Formatting 167 Powerful Bullet Points 167 Quantifying Bullet Points 169 The Value of Relevant and Irrelevant Experience 169 Tips on Tailoring Your CV 171 Non- finance Candidates 173 Final Checks 173 Every Line Serves a Purpose 174 Chapter 15 Cover Letter 177 Structure 177 Personalisation and Specificity 178 Common Mistakes 186 Key Competencies 188 Review 188 Chapter 16 Motivational Questions 191 Chapter 17 Psychometric Tests 195 Chapter 18 Assessment Centres 199 Chapter 19 Interviews 203 Competency and Behavioural Interviews 204 Technical Interviews 207 Brain Teasers 211 Online (HireVue) Interviews 214 Telephone Interviews 216 In- Person Interviews 217 Final- Round Interviews 226 Chapter 20 Deciding on a Division 231 Skills and Strengths 232 Career Goals and Long- Term Growth 233 Personality Fit and Work Style 233 Work- Life Balance 234 Compensation and Incentives 234 Interest in Market Trends and Industry News 235 Learning and Development Opportunities 235 Client Focus versus Technical Focus 236 Division Culture and Working Environment 237 Exit Opportunities, Transferable Skills, and Mobility 237 Chapter 21 Linkedin and Networking 241 The Power of Weak Ties 243 How to Approach Networking 243 Leveraging Recruiters 244 How to Reach Out to Industry Professionals 245 Chapter 22 Tackling Imposter Syndrome 251 Conclusion 253 Index 255
Preface xiii Acknowledgements xvii About the Author xix Introduction: From Council Estate to Goldman Sachs 1 Part I The Industry 15 Chapter 1 The Industry Before and After the 2008 Global Financial Crisis 17 Chapter 2 Bulge Brackets Versus Boutiques 23 Chapter 3 Buy Side Versus Sell Side 29 Chapter 4 Asset Classes 33 Fixed Income (Debt) 34 Equities (Stocks) 34 Commodities 35 Currencies (Foreign Exchange) 35 Alternatives 36 Cash 36 Real Estate 37 Chapter 5 Divisions 39 Front Office 39 Asset Management 46 Investment Banking 53 Sales and Trading 57 Private Wealth Management 61 Investment Research 64 Middle Office 66 Back Office 68 Chapter 6 Roles, Responsibilities, and Career Progression 75 Executive Assistant 76 Analyst 77 Associate 79 Vice President/Executive Director 80 Director 81 Managing Director 82 Partner 84 Chapter 7 Salaries and Compensation 85 Chapter 8 Pros and Cons of a Career in Finance and Banking 89 Reasons for Building a Career in This Industry 89 The Downside of a Career in This Industry 93 Chapter 9 Private Equity, Hedge Funds, and Venture Capital 99 Private Equity 99 Hedge Funds 104 Venture Capital 109 Part II Breaking in 113 Chapter 10 The Application Process 115 CV/Résumé 117 Cover Letter 117 Motivational Questions 118 Psychometric Tests 118 Interviews 119 Assessment Centres 122 Offers and Acceptances 122 Background Checks 123 Chapter 11 Spring Weeks 125 Why Spring Weeks Are Important 126 What to Expect During Your Spring Week 128 How to Secure a Spring Week 130 Making the Most of Your Spring Week 133 Chapter 12 Internships 137 Summer Internships and Off- Cycle Internships 137 The Importance of Summer Internships 140 Chapter 13 Graduate Schemes 157 Structure of Graduate Schemes 159 Career Progression 160 Work- Life Balance 160 Chapter 14 Cv/résumé 163 Structure 163 Keep It to One Page 166 What to Do with Low Grades 166 Templates and Formatting 167 Powerful Bullet Points 167 Quantifying Bullet Points 169 The Value of Relevant and Irrelevant Experience 169 Tips on Tailoring Your CV 171 Non- finance Candidates 173 Final Checks 173 Every Line Serves a Purpose 174 Chapter 15 Cover Letter 177 Structure 177 Personalisation and Specificity 178 Common Mistakes 186 Key Competencies 188 Review 188 Chapter 16 Motivational Questions 191 Chapter 17 Psychometric Tests 195 Chapter 18 Assessment Centres 199 Chapter 19 Interviews 203 Competency and Behavioural Interviews 204 Technical Interviews 207 Brain Teasers 211 Online (HireVue) Interviews 214 Telephone Interviews 216 In- Person Interviews 217 Final- Round Interviews 226 Chapter 20 Deciding on a Division 231 Skills and Strengths 232 Career Goals and Long- Term Growth 233 Personality Fit and Work Style 233 Work- Life Balance 234 Compensation and Incentives 234 Interest in Market Trends and Industry News 235 Learning and Development Opportunities 235 Client Focus versus Technical Focus 236 Division Culture and Working Environment 237 Exit Opportunities, Transferable Skills, and Mobility 237 Chapter 21 Linkedin and Networking 241 The Power of Weak Ties 243 How to Approach Networking 243 Leveraging Recruiters 244 How to Reach Out to Industry Professionals 245 Chapter 22 Tackling Imposter Syndrome 251 Conclusion 253 Index 255
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