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/Resume 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/resume 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
