Getting an investment banking job is genuinely hard — top firms accept a tiny fraction of applicants. But the barrier is definable: academics, technical skill, experience and networking. Here is an honest look at the difficulty and how to crack it.
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What Makes These Jobs So Hard to Get
- Thousands of applicants compete for a handful of analyst seats.
- Recruiters screen for modelling skills and deal-readiness.
- Target schools and existing internships confer advantages.
- Candidates must clear multiple competitive interview rounds ('superdays').
The Recruitment Process
Application → resume screen → phone/in-person rounds → modelling tests → final interviews. Offers go to candidates who prepare months ahead.
How to Improve Your Odds
- Build finance skills: modelling, valuation, accounting.
- Get any internship or relevant experience early.
- Network for referrals — they raise callback rates sharply.
- Apply widely: bulge brackets, boutiques, regional banks.
- Prepare fit and technical questions relentlessly.
The Bottom Line
It is hard but learnable. Persistence across applications and preparation is the real differentiator.
FAQ
What is the hardest part of IB recruiting?
Combining top technicals with the right network and timing.
Can a non-target school applicant break in?
Yes — with skill, networking and persistence, but it takes more work.
Related: Are IB Jobs Hard to Get? (part 2) and Recruiting Season.