Unlocking Success: Your Guide to Investment Banking Spring Week in London

Updaté le 16/06/2026 Un test vidéo, quelques minutes pour préparer chaque réponse, aucune seconde chance : le Hirevue est devenu le premier filtre des process de recrutement en M&A. Les banques d'affaires y soumettent désormais leurs candidats au stage, en summer comme en off-cycle, avant même qu'un recruteur ait ouvert un CV. Reste une question que la plupart des candidats se posent mal : qu'évalue réellement ce test, et comment s'y préparer sans le subir ? Qu'est-ce qu'un Hirevue en M&A ? Le Hirevue est un entretien vidéo différé : le candidat répond seul, face à sa webcam, à une série de questions chronométrées, sans recruteur en face de lui. Les réponses sont enregistrées, puis évaluées avant d'éventuellement remonter vers les équipes de la banque. C'est un entretien sans interlocuteur, et c'est précisément ce qui le rend déstabilisant pour qui n'y a jamais été confronté. Longtemps réservé aux summer internships, le format s'est étendu aux off-cycles, en particulier dans les banques américaines. On le retrouve dans les processus de J.P. Morgan, de Goldman Sachs, de Lazard et de bien d'autres, pour des postes en M&A comme plus largement en finance d'entreprise, tous secteurs confondus, du TMT au FIG. Le format varie d'une banque à l'autre, mais les ordres de grandeur tiennent : trois à six questions le plus souvent, une trentaine de secondes de préparation par question, une à trois minutes pour répondre, le tout bouclé en dix à soixante minutes. La fenêtre pour réaliser le test est elle aussi serrée, souvent vingt-quatre à quarante-huit heures après réception du lien. C'est souvent une seule prise par question : ce que vous enregistrez est ce que la banque verra. Ce que l'IA évalue vraiment (et ce qu'elle a cessé d'évaluer) La légende du Hirevue est tenace. Un logiciel scruterait votre sourire, vos micro-expressions, le mouvement de vos yeux, votre posture, jusqu'à la coupe de votre costume, pour en déduire une note. L'image est répandue, reprise de blog de préparation en blog de préparation, et elle a un fondement historique réel : HireVue a bel et bien commercialisé un système d'analyse visuelle censé lire les indices non verbaux du candidat. Ce composant n'existe plus. HireVue a retiré l'analyse faciale de ses évaluations, fonctionnalité désactivée dès mars 2020 et abandon rendu public en janvier 2021, sous la pression d'associations de défense des libertés et au terme d'un audit de ses algorithmes. L'entreprise a justifié ce retrait par un argument technique : les progrès du traitement automatique du langage avaient rendu l'analyse visuelle inutile, celle-ci « n'apportant plus de valeur significative » à l'évaluation. Aujourd'hui, l'algorithme note le verbe : la structure de la réponse, le vocabulaire, la pertinence du propos au regard du poste, pas le visage qui le prononce. Et pourtant, conclure que l'apparence ne compte plus serait une faute de raisonnement. Car les vidéos qui franchissent ce premier filtre ne disparaissent pas dans une machine : elles sont regardées par des humains, RH d'abord, banquiers ensuite. Or un relecteur humain capte exactement ce que l'algorithme ignore, l'hésitation, le regard fuyant, le débit monocorde, la posture avachie, le sourire absent. Le langage corporel a donc cessé d'être noté par le logiciel pour redevenir décisif devant les personnes qui décident. La bonne hypothèse de travail est simple : préparez-vous comme si un banquier vous regardait, parce que l'un d'eux le fera. Quelles questions tombent en Hirevue ? Les questions se rangent en 3 familles, dosées différemment selon les banques. Les questions de fit et de competency sondent la motivation et la cohérence du parcours. Les questions techniques ou d'actualité testent la solidité du raisonnement financier et la capacité à défendre un avis. Les mises en situation, enfin, projettent le candidat dans une difficulté qu'il rencontrera en poste, pour jauger son adaptabilité et son jugement. Une banque privilégiera le fit, une autre poussera la technique : le nombre de questions et leur répartition restent propres à chaque process. Voici quelques questions réellement tombées en Hirevue dans des process de recrutement en M&A : Tell me about yourself / walk me through your resume. Tell me about an accomplishment you are proud of: why did you do it, and how did you achieve it? Think of a time when you faced a complex problem and explain how you arrived at a solution. Tell me about a recent deal you find interesting, and what specifically interests you in it. A new team member joins your team: what do you do to welcome them? An urgent deadline is approaching and you can't access a colleague's work because he is out of office. Your supervisor gives you his password. What do you do? You are missing important information but must decide because of the deadline. How would you approach it? You realise you made a mistake on a critical report after submitting it, in a section rarely reviewed. What do you do, who do you tell, and how will your actions be received? Les deux dernières méritent qu'on s'y arrête : elles n'ont pas de bonne réponse évidente, et c'est le but. Une banque qui vous tend le mot de passe d'un collègue absent ne teste pas votre productivité, elle teste votre rapport à la règle. Vos cas pratiques de questions techniques vous prépareront au raisonnement ; ces mises en situation, elles, mesurent autre chose, et l'improvisation s'y voit. Comment se préparer à un Hirevue en M&A ? La préparation n'est pas optionnelle, parce que les contraintes du format ne pardonnent pas : peu de temps pour réfléchir, une seule prise, aucun retour. Tout ce qui peut être réglé en amont doit l'être en amont. Commencez par le terrain matériel, le plus bête à négliger et le plus éliminatoire. Une connexion stable, une webcam d'une qualité correcte, et surtout un micro net : si le relecteur ne comprend pas ce que vous dites, vous êtes écarté avant d'avoir été évalué sur le fond. Placez la caméra à hauteur des yeux, et regardez l'objectif plutôt que l'écran, faute de quoi vous donnerez l'impression de fuir le regard de votre interlocuteur. Testez le son avant de lancer le test, ce que la plateforme permet. Réglez ensuite la tenue et la présence. Le code vestimentaire est celui d'un entretien en banque d'affaires : costume pour les garçons, tailleur pour les filles. Soyez positif, souriez, et fuyez le débit monocorde, le défaut le plus courant des candidats qui récitent. L'analyse de votre visage n'est plus faite par l'algorithme, mais elle l'est par les humains qui visionnent votre vidéo : le langage corporel reste un argument, pas un détail. Structurez vos réponses, c'est la part la plus enseignable de l'exercice. Sur le fit, la méthode STAR (Situation, Tâche, Action, Résultat) donne une colonne vertébrale à chaque anecdote. Sur la technique, annoncez votre plan avant d'argumenter et tenez-vous à trois points : un raisonnement scandé s'écoute mieux qu'un raisonnement déversé. Tenez-vous au courant de l'actualité financière récente, qui alimente aussi bien les questions d'actualité que votre capacité à citer un deal qui vous intéresse. Et restez naturel : un candidat raide renvoie une image de robot, là où la banque cherche quelqu'un d'utile à une équipe. Le dernier conseil tient en un mot, et c'est le seul qui rende tous les autres opérants : entraînez-vous, en vous enregistrant, jusqu'à ce que le dispositif cesse de vous intimider. Du Hirevue au stage en M&A Le Hirevue n'est qu'une étape, mais c'est devenu la première, et une étape qu'on ne repasse pas. Pour les summer comme pour les off-cycles, elle sépare ceux qui l'ont préparée de ceux qui l'ont découverte en la passant. Anticiper les questions de fit, les questions techniques et les mises en situation, c'est se présenter au test avec les bonnes cartes en main, pour décrocher son stage en M&A et plus largement en Corporate Finance. Le reste relève d'un travail que l'on peut commencer dès aujourd'hui : sécuriser une summer internship se joue rarement sur un coup de chance. Le Hirevue ne récompense pas celui qui joue l'aisance, mais celui qui s'est assez entraîné pour oublier la caméra. Préparez votre process de recrutement en M&A avec Training You Le Pack Premium Corporate Finance regroupe tout ce qu'il faut pour aborder un Hirevue et les entretiens qui suivent : questions de fit, questions techniques, cas pratiques, tests d'entraînement, fiches sur les banques et podcasts avec des professionnels du secteur. Plus de 12 000 étudiants accompagnés depuis 2019; nos étudiants travaillent aujourd'hui dans les plus grandes banques d'affaires et fonds de PE à Paris, Londres, New York, Singapour et Hong Kong. Je démarre

Looking for a summer internship? We delve deep into the subject, shining a spotlight on the essentials required to secure a summer analyst role in investment banking. Let's start with an unequivocal fact: the application process for a summer internship is very competitive. The statistics shared by banks speak volumes about the intensity of the competition and challenge faced by candidates. Consider, for instance, the application and admission numbers from banks such as Goldman Sachs and J.P. Morgan. The former received, in 2022, more than 200,000 applications globally for a mere 3,000 positions: effectively a 1.5% acceptance rate. This was roughly twice the acceptance rate for J.P. Morgan, where 54,000 candidates applied for 480 openings in the investment banking division: just 0.9% of them received offers. Securing an offer is therefore hard. These figures underscore the importance of proper preparation. Success on this application journey is by no means a result of pure chance; rather, it is achieved through a blend of skills, knowledge, and strategic prowess. In this article, we break down what it takes to obtain a dream role as a summer intern in an investment bank, providing you with insights that will transform the seemingly insurmountable odds into a distinctly attainable opportunity. Let’s start with the basics: What is a summer internship? Summer internship : a short but intense programme Summer internships are 8 to 10 week-long programmes offered by investment banks principally in Anglophone geographies (i.e. the UK, the US, Hong Kong and Singapore). They offer interns, viewed as future hires, an invaluable glimpse into the inner workings of the bank and the broader industry. In general, especially for the bigger banks, an intern will be attached to a specific team for the duration of the internship, unlike during the more introductory Spring internships, where interns shadow bankers across a variety of teams. Thus, as a summer intern, you might be working in the ECM or DCM team, or indeed a particular sector team within the bank’s investment banking division (e.g. the Global Industrial Group in Morgan Stanley, or the TMT team at Barclays). (We will talk more about how you select your sector team - or how one picks you - in a forthcoming article) Summer internships are thus an immersive opportunity enabling you to discover the bank and sector. Indeed, as an intern you will be considered a full member of the team – with all the exposure and responsibilities that that entails. Banks also use the programme to assess the suitability of the interns for a full-time position with them; high performing interns will be offered a full-time offer at the end of their internships. Summer internship : the best way to get a full-time Indeed, herein lies a key difference between the recruitment process for an investment bank in Anglophone geographies and continental Europe. For the former, the summer internship programme is the main route through which banks recruit their pool of full-time analysts. In contrast, summer internships are comparatively rare in continental Europe (though notable exceptions do exist, for example Goldman Sachs offering a summer internship programme in Paris); banks tend to offer off-cycle internship programmes lasting 6 months, from which most of their full-time analysts are recruited. What do summer interns in investment banking do? Broadly, what you will do as a summer intern will consist of 2 things: Work As a full member of the team, you will be involved in the execution or origination of mandates by helping to assist in coordinating various aspects of the deal process, such as scheduling meetings and tracking progress. You also will ensure that all parties involved are aligned and informed, by communicating with clients, legal teams, and other stakeholders to gather information, provide them with updates, and address any questions or concerns. Apart from the (essential) logistical and administrative process of deals, you will also work on market research and the preparation of documents – either pitches in the context of origination, or marketing documents for live deals (Teasers, Information Memorandums, Management Presentations etc). Depending on your facility with Excel, you may also be asked to help with financial modelling. Network Networking – the building of professional relationships with colleagues across the bank – is a crucial aspect of a summer internship. It is best to consider the summer internship as an extended interview spanning 8-10 weeks, during which you will have the chance to showcase, beyond your capacity for good work – your interpersonal skills, motivation, and fit within the team and the bank's culture. Banks are also proactive in facilitating the networking of their summer interns throughout the programme, by organising events (breakfasts, fireside chats, afterwork drinks) allowing interns to connect with their colleagues throughout the bank. It is crucial, as a summer intern, to actively make the most of these occasions. Effective networking can lead to strong advocates who can vouch for your performance and contribute to your chances of receiving a job offer after the internship concludes. Why apply for a summer internship? Summer internships offer benefits that extend far beyond an introduction – important in itself – to the world of investment banking: Skill development A summer internship programme is an accelerated learning experience offering the chance for significant professional and personal growth. You will be working on live transactions, honing the skills and knowledge acquired in the classroom under the guidance of industry professionals with significant levels of experience. More than the hard skills in financial analysis and modelling, you will also refine your soft skills – your ability to communicate clearly and effectively (with colleagues and clients), rigour in all that you do, and the ability to remain calm under pressure Enhanced career pathways The summer internship offers the possibility of securing a full-time offer. However, if you do decide to pursue other opportunities outside the bank after your internship, the sheer fact of having obtained a summer position in investment banking – after a highly competitive process – is a mark of excellence on your CV, and will open doors in terms of future career options. As a signal of your potential, it therefore increases your employability Financial rewards Summer internships often come with more than competitive salaries. For the duration of the internship, you will be considered as a full time analyst and be compensated accordingly. At the time of writing, Glassdoor notes that the average summer analyst base salary in London is around £60,000/year, meaning that you will get the prorated amount for your 8 to 10 weeks stay. When should you apply for a summer internship? It is crucial to plan ahead because the recruitment process for analyst summer internships begin 6 months to one year in advance of the start date. (Thus: applications for a summer internship in 2024 typically open from August 2023). Banks open these positions for students in their penultimate (i.e. second last) year of university, meaning that the internship will take place in the summer before your final year. And if you successfully secure a return offer, you will begin work as a full-time analyst immediately after your studies (thus avoiding the stress of applying for jobs post-graduation). You should be keenly aware of the opening application dates across the different banks. Given that most of banks and boutiques hire on a rolling basis, it is crucial to make out your application as soon as possible since banks close the recruitment process once they fill up their internship spots. In order not to miss out on any application, follow all the deadlines in our dedicated Spring and Summer internship tracker. The application process for a summer internship The application process for positions in the banking sector generally comprises 4 main steps. Each step evaluates different aspects of your qualifications and suitability for the role. We outline these steps in detail below. Summer internship : Online application The first step involves applying through the bank's official website. Basic personal information and your CV are typically required. Some banks might also request a cover letter or responses to specific written questions (typically competency-based questions, or questions assessing your level of motivation and knowledge of the sector). Summer internship : Online tests and Hirevue interview The second step commonly entails online tests, a critical stage where many candidates are screened (and eliminated). The nature of these tests can vary among banks but generally includes logical reasoning, verbal reasoning, personality profiling, and situational judgment assessments. Some banks may also use a HireVue interview at this point. In a HireVue interview, you record video responses to several questions (again, either competency-based or motivation-based questions). You're given around 30 seconds to prepare and 90 seconds to deliver your response. Prior preparation is therefore crucial. Summer internship : First round phone/video interview(s) Upon successfully passing the online tests, you will progress to the next stage, which often involves video or phone interviews with bank recruiters. These interviews serve as an opportunity for recruiters to learn more about your motivations for applying. You can anticipate questions related to your fit for the role, competency-based inquiries, and strengths-based assessments. These interviews are particularly important in assessing your alignment with the bank's values and culture.We note that the recruitment process for investment banking summer internships in Anglophone geographies tend to be slightly less technical than that of off-cycle internships (since they are open to individuals without any prior background in finance). However, this does also depend on the profile of the individual candidate: if you have indicated knowledge and or experience in Corporate Finance on your CV, fully expect to be tested by the recruiter, who would be seeking to assess the extent of the knowledge that you have acquired. Summer internship : Assessment center The final step in the application process is the assessment centre. Here, you will participate in various activities that give the bank deeper insights into your abilities and qualifications. These characteristically consists of a case study (often done in group, though it can at times be assigned on an individual basis), a series of one-on-one interviews with bankers, and a retaking of the online tests (only at times and for certain candidates).It is at the assessment centre where a bank has the opportunity to extensively evaluate your competencies and overall suitability for the position.(We will be publishing imminently an in-depth piece on the Assessment Center) While the application process described above is relatively consistent across banks, there can be differences from one institution to another that candidates should take note of. (Not to mention the fact that the process within banks can evolve over time.) For instance, the Morgan Stanley summer application process in 2022 included the submission of a CV and cover letter, an online test, a telephone interview, a video interview, and finally, an assessment centre. In comparison, Evercore's process comprised a CV and cover letter submission, a HireVue test, 2 telephone interviews, and then an assessment centre. It is worth highlighting again the distinction between the recruitment process for summer internships and that of off-cycle internships. For summer internships, the focus tends to lean more towards fit and behavioural aspects rather than technical expertise, with an emphasis on competency-based questions. Recruiters aim to understand you as an individual and your alignment with the bank's values. In contrast, interviews for off-cycle internships (in Anglophone geographies and continental Europe) will carry a higher technical component. How to prepare for summer internships? Optimising your CV and cover letter You will need to tailor your CV to highlight relevant experiences, skills, and achievements as well as quantify, to the extent possible, your accomplishments with specific numbers and data. Be results-driven: showcase the impact of your actions and the results.You should also emphasise your academic achievements, extracurricular activities, and any related coursework. Consider what skills and attributes the banks are looking for in a candidate and highlight them. Your CV should match the company and role that you are applying for, so, use specific keywords and tailor your CV accordingly. Craft a compelling cover letter that demonstrates your motivation, alignment with the bank's values, and a clear understanding of the industry. It will not do to simply restate what has already been written on your CV, and to give generic reasons for wanting to work in the company that could apply to basically any firm. Show that you know exactly why you want to join the firm and why you will be a good fit with the company and its culture. (Here, stand out by citing conversations that you have had with employees that have reaffirmed your motivation for joining the company) Preparing for online tests The key to succeeding in online tests is familiarising yourself with the types of tests used by the bank as well as the test provider. Most banks will require you to take a numerical, verbal and logical test. Some may also include, within the battery of online assessments, a situational test and even a Pymetrics test.Not only do you need to respect the time limit imposed on each test, the threshold for passing on to the next round is also high. Given that the number of applicants typically far exceeds the number of places available, banks can afford to select only the very best-performing candidates (in which case, 15/20 on a numerical reasoning test, while an entirely respectable score, may not suffice to pass on to the next round). Practice is thus vital. To gain an insight into the different types of psychometric tests and to hone your skills on them, consult the Summer Pack where you have a dedicated module delving into the battery of psychometric tests set by investment banks, as well as a bank of more than 200 test questions with full explanations provided for each of them. Preparing for Competency-Based Questions (spoken and written) To succeed at this stage you will need to understand the core competencies the bank is looking for and tailor your answers accordingly: be smart. Use the STAR (Situation, Task, Action, Result) method to structure your thoughts and answers: be sharp. You should be able to provide specific examples that showcase your skills, experiences, and values that you might or might not mention in your CV and cover letter: be prepared. Prepare stories that highlight teamwork, leadership, problem-solving, and adaptability: be a master of storytelling. Revising your Technicals While the summer internship application process is in general less technical than the off-cycle internship process, you should be equipped with a good working technical knowledge (especially if you have indicated prior experience in corporate finance on your CV). For roles in investment banking, you will need to be fluent in accounting, the EV-EQ bridge, valuation methods, merger analysis and LBO. Do note that being conversant and knowledgeable about industry trends is also important – to demonstrate that your motivation for working in the sector is genuine. Thus, if you are interviewing with the ECM team, it is important to be up to date with the latest IPO trends and deals. If you are interviewing with the M&A team, make sure that you are able to discuss recent deals, especially those that the bank advised on. Acing the Assessment Center As mentioned, the Assessment Center, the final step in the recruitment process, is an extended exercise consisting of, among other things, interviews and group activities (very often a case study). You will need to showcase effective communication and a strong capacity for collaboration during group activities. For individual case studies, focus on structured problem-solving and a clear presentation of your analysis. Demonstrate your ability to work under pressure, adapt to changing situations, and provide well-reasoned solutions.Keep in mind that different investment banks may place varying degrees of emphasis on each step. It is therefore essential to research each bank's specific requirements and values to tailor your approach accordingly. Dedicate time to thorough preparation, stay updated on industry news, and engage in networking opportunities to enhance your chances of securing a summer internship in the competitive world of investment banking. And above all be bright, bold, presentable and show that you have a genuine interest for the job you are applying to. Looking to ace your summer applications? A summer internship guarantees three things: a steep learning curve, building a professional network within the bank, and above all, the almost certainty of interesting opportunities. Adding this experience to your CV significantly enhances your profile. Securing a summer is indeed challenging but far from impossible – if you are motivated and put in the right preparation. To get an edge in your application, take up our Summer Pack, which provides you with actionable insight and guidance on every step of the recruitment process. It is a programme with a single objective: to help you secure the internship of your dreams! Discover the Summer Preparation Pack 

If you work in an investment banking division (IBD), or pretty much any other sector of financial services, you are likely spend a healthy part of your day dealing with career-related stress. The working hours, the responsibilities, the external pressures to deliver consistent compelling results – they all add up. But who has it worse ? What are the most and least stressful jobs in banking and finance ? We decided to conduct an informal survey to find out. We then asked a host of recruiters and actual employees in each field to rank them based on the stress levels employees tend to face, leaving it up to each voter to qualify “work stress” as they see it. Below are the composite results, along with some notes from those who chose to go on the record and explain their thought processes. Do you agree? Most stressful job in finance : Investment Banker (M&A or capital markets professional) Investment Banker is one of the most stressful jobs in finance. Jobs in the investment banking division (IBD) were the runaway choice for the most stressful job on Wall Street and in all of financial services, finishing in the top three of every ballot. The main reason is that investment bankers are confronted with the two main triggers for career stress: the difficulty of the work coupled with the sheer amount of it, particularly for analysts and associates and despite banks’ attempts to mitigate the strain. “The life of a junior banker is one of the last forms of legalized slavery,” said Roy Cohen, a career coach and author of The Wall Street Professional’s Survival Guide. “It is a grueling survival of the fittest existence defined by all-nighters, no time to eat well or to exercise, and compensation that has remained flat for a number of years.” The Epicurean Dealmaker, the anonymous M&A banker behind the eponymous blog and Twitter account says M&A careers remain stressful throughout, but that the nature of the stress changes. “Juniors are crushed by work out of their control. Seniors are whipsawed by clients’ unreasonable demands,” he says. “Juniors have no responsibility for revenues, though, whereas MDs [managing directors] do. That is huge, constant pressure. MDs have (lots) more money and somewhat more life control, but much high burnout rate and obligations. Juniors rarely fired; MDs are fired all the time.” And if you decide not to become an MD to escape this pressure?  “If you don’t get promoted to MD eventually, you’re fired,” says TED. “You can’t stay a hardworking irresponsible junior forever.” Second most stressful job in finance : Trader Trader is one of the most stressful jobs in finance. Traders may not work quite the crazy hours of investment bankers, but they have a sharper, more acute level of stress. “Trader stress is in real time and can happen instantaneously,” said Sal Khan, managing director at New York City recruitment firm Dynamics Associates. Speaking to us last week, trading coach Steven Goldstein described the insidious nature of stress in trading jobs: “When you work in trading, there’s so much that’s outside your control and that can be hard to deal with. You’re sitting there every day and sometimes the markets are in your favour and sometimes they aren’t. People start to question whether they really want that." Third most stressful job in finance : Risk management & Compliance If you think a risk or compliance role will be a less stressful option, you might be right – but only just. Sitting in a non-revenue generating seats, risk and compliance staffers are often viewed as the enemy by colleagues who are desperate to get a transaction approved, said Cohen. Market risk and credit risk management roles are particularly stressful, said Khan. It’s not just the stress. It can also be the feeling of disempowerment. “You’re there to escalate issues, but when you do, nothing is done about them. Compliance is a soulless job. You end up keeping your head down, collecting your money and destroying your principles." one compliance professional told us. Fourth most stressful job in finance : Wealth manager / Private banker Wealth managers and Private Bankers are stressful jobs in finance. Finishing near the top on some surveys and further down on others, wealth managers and financial advisors deal with one particular vehicle for stress: they eat only what they kill. Wealth managers get fired nearly as often as they get hired. One WM who started five years ago said he is the only remaining member of his 30-person recruiting class still in the business. It’s a sales job, and your target is often friends and family. You start with a barely livable wage and you need to sell to remain employed. But, at its core, wealth management is a relationship business. “People seem to think that if you’re a private banker you sit on a pile of money and that keeps the money coming in,” says the anonymous private banker behind the Banker’s Umbrella blog and Twitter account. “They’re 100% wrong. -You have to build a book, once you can get together a book in excess of €100m, you can rest easier.” And if you don’t have a book of assets worth €100m? “It’s a job where you try to protect the assets you have from other preying bankers and run around preying on the assets of other bankers." says Bankers Umbrella. When this is the case, he says private banking can be a harsh career choice: “By comparison, the so-called cut throat world of investment banking is like sitting on an extra fluffy towel on a warm beach while toasting marsh mellows and singing Kumbaya.” By the way, if you are interested in this profession, it is possible for you to follow a course by a wealth manager that will undoubtedly allow you to pass your interviews without difficulty! Fifth most stressful job in finance : Institutional sales Any role that focuses on sales causes stress. Couple this with the fact that the job security and the ceiling on salary aren’t what they used to be, and institutional sales can be a grind. “As technology automates much of the function, there is simply less need for a human interface,” said Cohen. The pressure on salespeople has the potential to increase as banks shift to ‘low touch’ business models. Here, all but the most important clients are encouraged to trade using electronic systems that eliminate the need for human beings. However, there will still be a need for talented salespeople to interact with the most demanding and important clients. Sixth most stressful job in finance : Management consulting Is management consulting really a stressful career? Yes, if you’re working somewhere like McKinsey & Co. or BCG and you don’t like travel (Bain & Co. has a reputation for staffing people closer to their home office). – Management consultants typically travel a lot. When Harvard Business School professors researched working conditions at leading strategy consulting firms in 2013, they found people who claimed to work 15 hour days and to sleep less than six hours a night. “There’s a correlation between success and the willingness to just put everything else aside and do a ton of work,” said one. Like banks, consulting firms have implemented programs to mitigate work stress. One junior consultant who’s worked in banking told us consulting jobs are better: the hours are shorter and the work is more varied and creative. Seventh most stressful job in finance : Private Equity Private Equity jobs are some of the most desirable in finance. They’re also some of the most difficult to get into. Private Equity funds are investors and they’re in it for the long term. This can help relieve the pressure on a day-to-day basis – except when a new investment is being made, at which point working in PE can be pretty similar to working in IBD… By the way, if you are interested in this profession, it is possible for you to follow a complete course by an ex-banker of Lazard that will undoubtedly allow you to pass your interviews in Private Equity without difficulty! Eighth most stressful job in finance : Equity Research Equity Research is often considered as one of the most stressful jobs in finance. Why ? Time was, equity researchers were the academics of the finance world. They got to study a stock or sector in detail and to write their considered opinion about that sector in their own good time. These days, they’re under a lot more pressure. In the UK and Europe, ‘unbundling’ means researchers’ future output will have to be paid for separately by clients – rather than wound into the fee for executing trades. At the same time, researchers have been given a more marketing-oriented role, selling the banks’ whole platform and product to investors. Researchers are being compelled to work harder than ever before, said Brad Hintz, the veteran US banking analyst. Despite all their efforts, Hintz says researchers are often unable to point to a solid revenue stream (something unbundling may help with): “Research management is left with a begging bowl, pointing out all the insightful pieces its people have written.” Ninth most stressful job in finance : Fund Manager In theory, fund management isn’t that much of a stressful career. Long only managers invest for the long term and have time to ponder their decisions. In reality, it’s not that easy. @CT_Osprey, an NYC-based long only manager, says working on the buy-side is fine, as long as you’re right. “If you’re right in your investments, the buy-side is an easier place to work.” If you’re wrong in your investments, he says the buy-side is just as stressful as the sell-side. Even so, this is better than working in an investment bank: “You can be right all day long on the sell side, you still have to hustle your a** off,” Osprey points out. Tenth most stressful job in finance : Technology Like risk and compliance, tech pros get yelled at – a lot. “They take plenty of blame, even when things are out of their hands, and they constantly have to re-educate themselves and take courses.” said Lisa Mogilner, a recruiter at Dynamics Associates. Eleventh most stressful job in finance : Accounting Finishing last on every ballot, accounting is “virtually stress-free as long as you like routine and are willing to work long hours on a seasonal basis." said Cohen. However, Tom Stoddart, director at London-based recruiters Eximius Finance, said that accountancy roles in banks have become more pressured in recent years. “As regulators focus more heavily on capital requirements, the role of the accountant has become more important.” Accounting jobs in product control can be stressful simply because they require interaction with traders on a daily basis, says Stoddart. Similarly, management and regulatory reporting roles can be stressful as deadlines come near. The least stressful accounting jobs in banks are those which involve forecasting and budgeting, suggests Stoddart: “These are still business critical, but they’re also more qualitative and not subject to the pressure of an external review.” If you are interested in this profession, it is possible for you to follow a complete course by an ex-banker of Lazard that will undoubtedly allow you to pass your interviews in accounting without difficulty! Do you want to join a bank in one of these professions ? These jobs in finance are stressful. But if being in these professions requires a lot of investment of time and pressure, it is also necessary to have an optimal preparation to succeed. To get your first experience, develop your knowledge with a complete training by former bankers of Lazard : MOOCs M&A but also more widely MOOCs Corporate Finance. You will find M&A case studies and various courses : Private Equity Accounting Wealth management And many others ! 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