Hassan Akram, CEO of City Careers Coach · Follow
7 min read · Aug 29, 2023
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This article is written by Hassan Akram, the CEO of City Careers Coach. We help students enter the world’s most elite finance careers through our experience as elite finance recruiters. Hassan has spoken at Harvard, MIT, and Yale on this and writes in the Times of India on getting into elite careers. He’s recruited for elite corporate careers, including investment banks, corporate law firms, and venture capital funds. He has also interviewed 1,000+ professionals from Goldman Sachs, Kirkland & Ellis, and McKinsey. 100% of our clients are successful at the CV stage. 95% secure at least one corporate career. Our highest client starting salary is $180,000 at 21. We have an in-depth understanding of passing recruitment processes for elite, high-paying, and prestigious finance careers.
Check our case studies of clients securing offers. Here’s Dhruv who secured multiple offers at investment banks and a hedge fund, Aryan who secured an offer at an investment bank,
P.S. Please join our free Skool Community! We share world class and exclusive insights as ex-recruiters in getting into top careers: https://www.skool.com/city-careers-coach-8722/about
***This article is aimed towards university and MBA students looking to enter elite corporate careers, such as investment banking, private equity, and venture capital ***
INTRODUCTION
As the CEO of City Careers Coach, a leading firm specialising in helping students enter elite finance careers, I am keenly aware of the challenges associated with breaking into the highly competitive field of investment banking. Whilst people mention how hard it is, no-one In this article, we will shed light on the daunting acceptance rates that aspiring professionals face when pursuing opportunities in investment banking.
- The Competitive Landscape
It is important to acknowledge the fierce competition within the investment banking industry. The demand for coveted positions in investment banks consistently exceeds the available supply, making it a highly selective field. Statistics indicate that acceptance rates for top investment banks, such as JP Morgan and Goldman Sachs, typically range between a mere 3% to 5%.
2. Acceptance Rates at Top Investment Banks
- JP Morgan
JP Morgan is renowned for its rigorous recruitment process, resulting in extremely low acceptance rates. According to industry data, the acceptance rate for entry-level positions at JP Morgan stands at approximately 3%. Out of every 100 applicants, only three individuals successfully secure a position within the firm.
- Goldman Sachs
Goldman Sachs, another prestigious investment bank, maintains similarly competitive acceptance rates. With intense competition for limited openings, the acceptance rate hovers around 5%. This means that out of every 100 applicants, only five individuals receive an offer from Goldman Sachs.
3. Navigating the Challenges
To succeed in securing a position in investment banking, aspiring professionals must understand and prepare for the competitive landscape they face. Here are some key factors to consider:
- Academic Excellence
Investment banks seek candidates with outstanding academic records. High grades in relevant subjects, such as finance, economics, mathematics, or business, demonstrate a candidate’s intellectual capabilities and aptitude for the demanding nature of the field.
- Relevant Internships and Experiences
Prior internships or work experiences in finance-related roles greatly enhance an applicant’s chances of success. These experiences provide valuable insights into the industry, showcase practical skills, and demonstrate a genuine interest in the field.
- Strong Networking Skills
Building connections and cultivating relationships within the industry is crucial. Networking allows aspiring professionals to gain insights, receive mentorship, and potentially secure recommendations from influential individuals in the field. Attending industry events, joining professional organizations, and leveraging online platforms are effective ways to expand one’s network.
- Mastery of Technical Skills
Investment banking requires proficiency in financial modeling, valuation techniques, and analytical skills. Candidates should invest time in developing these technical competencies through coursework, online courses, or self-study. Demonstrating a strong grasp of these skills sets candidates apart from their competitors.
CONCLUSION
Entering the world of investment banking is a formidable challenge, given the highly competitive acceptance rates at top firms such as JP Morgan and Goldman Sachs. Aspiring professionals must be prepared for the intense competition and invest time and effort into enhancing their academic profile, gaining relevant experiences, networking, and mastering the technical skills demanded by the industry.
While the acceptance rates may appear daunting, it is essential to approach the process strategically, seek guidance from experienced professionals, and leverage resources that can increase one’s chances of success. By understanding the realities of the industry and undertaking a well-rounded approach, aspiring professionals can position themselves as strong candidates in the competitive world of investment banking.
P.S. Please join our free Skool Community! We share world class and exclusive insights as ex-recruiters in getting into top careers: https://www.skool.com/city-careers-coach-8722/about
Please visit our blog on The Times of India for guidance on entering elite careers: https://timesofindia.indiatimes.com/blogs/author/hassan-akram/
Check our case studies of clients securing offers. Here’s Dhruv who secured multiple offers at investment banks and a hedge fund, Aryan who secured an offer at an investment bank,
ABOUT US
We help students secure the world’s highest-paying finance careers.
‘Really clear and structured frameworks. Genuinely world-leading. I’m a former private equity investor and was impressed by the depth of their knowledge for elite careers, such as private equity and venture capital. Can’t wait for them to come to HBS again.’
‘I honestly had never heard about City Careers Coach. But they honestly blew me away with the truly personalised nature of the programmes. I got spring weeks at investment banks, hedge funds, and I secured experience at a PE fund. I have a summer internship at an investment bank coming (BNP Paribas). I’m fairly confident I’ll convert this to a full-time offer through the firm’s internship conversion programme.’
‘City Careers Coach was incredibly helpful in my CV recruitment process. I had gathered useful pieces of recruitment information from various sources prior to meeting Hassan, but he was able to bring it all together to help me have a clear picture of what a good recruitment strategy looks like. Beyond being extremely knowledgeable, Hassan, the firm’s CEO, was incredibly flexible, friendly, and willing to help out in any way — I would highly recommend Hassan to anyone looking to break into elite finance careers.’
City Careers Coach is an international network of freelance finance recruiters. We are from investment banking, corporate law, and private equity backgrounds. We provide premium, bespoke, and personalized 1–1 career development programmes. These are for university students looking to enter elite corporate high-paying careers. We have an exceptionally strong track record. 100% of our clients pass CV stage. 90% of our clients secure at least one internship or graduate role. And our average client starting salary is £150,000.
Check our case studies of clients securing offers. Here’s Dhruv who secured multiple offers at investment banks and a hedge fund, Aryan who secured an offer at an investment bank,
