Investment Banking
What is Investment Banking?
Investment banking, or IB, as it is often called, is the term used to describe the business of raising capital for companies and governments and advising them on financing and merger alternatives. Capital essentially means money. Companies need cash in order to grow and expand their businesses; investment banks sell securities (debt and equity) to investors in order to raise this cash. These securities can come in the form of stocks, bonds, or loans. Once issued, these securities trade in the global financial markets.
Types of Investment Banks
Large Banks, or bulge bracket banks, are firms that deal with all divisions of investment banking (IB, Sales & Trading, and Research) and have clients with revenue over a billion dollars. Examples:
- Citigroup
- Credit Suisse
- Deutsche Bank
- Goldman Sachs
- JP Morgan
- Morgan Stanley
Boutique Banks are firms that focus on one division in investment banking. They typically work on smaller deals with middle market companies. Examples:
- Houlihan Lokey
- Lazard
- Moelis & Company
- Piper Sandler
- Robert W. Baird
- William Blair
We recommend completing online learning, such as Training the Street, to supplement your Creighton coursework.
Skills for Investment Banking
Character traits of someone suited to work as an analyst or associate include highly ambitious, competitive, analytical, and polished. Other critical skills to develop are:
- Quantitative skills (finance, accounting, economics, statistics, mathematics)
- Strong accounting and valuation knowledge
- Financial modeling skills
- Excellent Microsoft Excel and PowerPoint skills
- Effective communication
- Ability to work well in teams
- Entrepreneurial, self-starting
- Critical, detail-oriented thinking
- Leadership, with a focus on results
Recruiting Timeline
Investment banks that target Creighton University students typically engage formally with the John P. Fahey Career Center and post positions on Handshake. However, for banks not targeting Creighton, including most large banks, students must network with industry professionals (e.g., alumni) to be referred into the recruitment pipeline. Check employer websites for application instructions. You can also sign up for Suited, a platform that connects candidates with investment banks.
Meet with a Career Advisor to learn more about the recruitment process, prepare an industry-specific resume, and connect with banking professionals.
Type of Recruit | Recruitment/Interviews | Offer (At the latest) |
|---|---|---|
Full-Time | Rising Seniors: April - September | September - October |
Internship | Rising Juniors: April - September* | September - October |
*Some banks recruit Summer Analysts (interns) as early as the Spring of Sophomore year. Thus, we recommend networking with professionals in the field as early as the Fall of Sophomore year. Occasionally, a small bank may recruit interns as late as the Spring of Junior year. Be sure to check Handshake and employer websites for official deadlines.
Interview Preparation
Interview processes vary by bank, but candidates should be prepared for behavioral and technical questions. According to the Corporate Finance Institute, potential sections of an interview might include:
- Bank / industry overview
- Employment history / resume
- Problem solving questions
- Technical knowledge questions
- Behavioral questions
- Questions for interviewer
Full-Time candidates may also encounter a financial modeling case in Excel.
Interview Preparation Resources
Interview preparation is essential for competitive finance interviews. In addition to reviewing the online resources listed below, meet with a Career Advisor to learn of additional interview guides our office can provide.
Student Clubs
The Investment Banking Society seeks to educate members about the investment banking industry and the recruiting process. Through networking with alumni and providing professional speakers, we hope to help more students pursue internships and full-time positions within investment banking. The society provides resume help, interview strategies, speakers, and networking events.
The Financial Management Association brings in financial professionals from the community to speak on a monthly basis. It gives its members the opportunity to learn about the various careers in finance, network with professionals from Fortune 500 companies, and gain valuable leadership experience. If elected to one of the executive positions, members have the opportunity to attend the National Finance Leaders' Conference in either New York City or Chicago.
