Investment banking has always been a tough game, and as economic pressures put the squeeze on the industry in Australia, anyone with aspirations to join the club really needs to be ready to impress.
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We spoke to the team at Goldman Sachs Australia, who sent across some tips for the next wave of interns looking to make their mark and hopefully score a job. The firm recommends the following:
Stand out, but in the right way
It’s no good doing everything your supervisor asks if no one remembers you. There are far fewer roles than people who want them, and you need to get noticed.
One of the biggest mistakes Goldman Sachs says interns make though is being over-confident, over-ambitious and appearing arrogant. Another pitfall is acting too casual in interviews or at recruiting events.
You need focus as well as diversity
You need to demonstrate a strong motivation for working in the industry. But as well as that, Goldman Sachs said they want well-rounded candidates, people with a dedication to something outside of work and study.
Do your research
If you want to work at a specific institution, make sure you know which deals in the market it has advised on recently. Also, it helps to ask people already in the industry, or representatives at recruiting events how the brand is perceived.
We asked what the biggest misconception bankers saw interns arrive with. Many hopefuls underestimate the time and effort required to build relationships with the bank’s clients before they award an investment mandate or transaction work, Goldman Sachs says.
Now read: Australian M&A Lawyers Are Resorting To Cold-Calling CEOs As Acquisitions Have Dried Up
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