7 answers
1
Question
Asked
674 views
Questions regarding a career in finance/accounting and resume
What are some skills students looking to pursue investment banking should practice and learn?
What are some skills/topics students pursuing finance and accounting should learn about?
Are there resources or books or anything else where I can learn concepts in finance and accounting and even more specific topics such as studying for the CPA exam? common topics in the CPA exam? book recommendations to study for the exam? books for corporate finance and investment banking?
What is some advice for preparing for interviews for internships?
How can students network?
When is a good time to start preparing for the CPA exam?
What makes a good resume stand out?
Are there any courses that are recommended to practice skills both soft and hard skills?
When is it best to start applying to jobs?
My major is finance and I am looking to pursue investment banking. But I am also interested in accounting.
Do you have any recommendations for professional development? Are there any key events or networking events that college students may find helpful?
Login to comment
7 answers
Updated
Kathleen’s Answer
Hi Fatima
First of all - it's great that you're thinking about all this so comprehensively however don't "over work" this in your mind. I suggest building out a 5-10 year map of what needs to be accomplished/when and then chip away at it as you go otherwise you'll start to feel extremely overwhelmed, feeling like you need to get it all done immediately.
Question 1: There's broad opportunity for you to practice investment banking/accounting in your personal life. Are you able to do your taxes, start some investments, balance your own debit/credits? I think this could be a good place to practice without too much risk. Offer up your time for friends/family if you/they feel comfortable with giving financial advise/insight etc.
Question 2: As other responders have suggested, there are plenty of books you can read but I suggest doing some of your own investing now in the market via Robinhood/Etrade/your bank etc (if you have resources available to do so.) This will give you an opportunity to read through earnings reports and familiarize yourself with common terminology/fundamentals (balance sheets, quarterly earnings reports, P/E Ratios, etc) and can be fun along the way.
Q3: NA - see responses from others :)
Q4: Be confident. Easier said than done, however no one but yourself knows more about you than you :) You are the expert on yourself and your experiences, be confident in that knowledge.
Additionally, I like to prepare a few key experiences ahead of time that fit a variety of questions I may be asked. For example - say I had an experience where I had a tough group project that was difficult to complete - I could use this example to explain questions related to "how I've been able to lead people", "how I've overcome difficulty", "how I've accomplished something when I didn't have control over all the variables" etc... Having a few examples in your pocket can help you pivot when asked difficult questions you may not have been prepared for. This also shows your ability to be creative & adaptable.
Q5: Get involved with things you're passionate about - you will naturally find that you're networking without realizing it. Additionally, if you're able to get an internship, attend as many events that the company will host, as you can - you will naturally build your connections through interaction around common goals/work experience.
Q6: At minimum 10 weeks before you take each exam.
Q7: Does your college have resume writing courses/webinars/sessions? Most business schools typically do so start there and see if you can take advantage of that. As silly as this sounds, a google search can also help give you inspiration and ideas for how to make your resume stand out however always be sure to tailor it to yourself. What makes a good resume is the same as when you applied for schools - showcasing a breadth of activity, experiences, projects, etc. Any leadership positions are always a great add on - for example, if you're involved in student government, or Business fraternity, leadership in a club or Greek organization, community service, etc
Q8: This one is tough to answers since I'm not familiar with your school's course availability. My school offered a "Business Dinner" event where we learned how to network and interact while eating dinner (how to fold your napkin etc ha) - a little unique but I bet if your school doesn't offer that, there are other schools in the area/classes that would. I recommend a google research to see what you can find in your area for soft business skills. Note some of these will cost additional money to attend.
Q9: I'd recommend begin applying in the Spring/Summer of your college Junior year - as you go in to you Senior year. Try to attend as many career fairs as you can, get yourself out there, schedule as many interviews as you can. Early bird gets the worm and you can never have too many options :)
Q:10 Regarding recos for development - I would look into Communication/Writing courses and read some soft skill books (the below have absolutely helped me with my career): "Getting Things Done" by David Allen, "Atomic Habits" by James Clear, and "Think Again" by Adam Grant.
In regards to networking events, does your business college have connections with local/national companies? I know my school had relationships with the Big 4 accounting firms as well as some Consumer Staple companies based in the area which gave students an opportunity to join networking events connected to those companies. Additionally there are national groups like NeXt Up (formally Network of Executive Women), AMA (American Marketing Association), also check LinkedIn for additional opportunities.
Good luck!
First of all - it's great that you're thinking about all this so comprehensively however don't "over work" this in your mind. I suggest building out a 5-10 year map of what needs to be accomplished/when and then chip away at it as you go otherwise you'll start to feel extremely overwhelmed, feeling like you need to get it all done immediately.
Question 1: There's broad opportunity for you to practice investment banking/accounting in your personal life. Are you able to do your taxes, start some investments, balance your own debit/credits? I think this could be a good place to practice without too much risk. Offer up your time for friends/family if you/they feel comfortable with giving financial advise/insight etc.
Question 2: As other responders have suggested, there are plenty of books you can read but I suggest doing some of your own investing now in the market via Robinhood/Etrade/your bank etc (if you have resources available to do so.) This will give you an opportunity to read through earnings reports and familiarize yourself with common terminology/fundamentals (balance sheets, quarterly earnings reports, P/E Ratios, etc) and can be fun along the way.
Q3: NA - see responses from others :)
Q4: Be confident. Easier said than done, however no one but yourself knows more about you than you :) You are the expert on yourself and your experiences, be confident in that knowledge.
Additionally, I like to prepare a few key experiences ahead of time that fit a variety of questions I may be asked. For example - say I had an experience where I had a tough group project that was difficult to complete - I could use this example to explain questions related to "how I've been able to lead people", "how I've overcome difficulty", "how I've accomplished something when I didn't have control over all the variables" etc... Having a few examples in your pocket can help you pivot when asked difficult questions you may not have been prepared for. This also shows your ability to be creative & adaptable.
Q5: Get involved with things you're passionate about - you will naturally find that you're networking without realizing it. Additionally, if you're able to get an internship, attend as many events that the company will host, as you can - you will naturally build your connections through interaction around common goals/work experience.
Q6: At minimum 10 weeks before you take each exam.
Q7: Does your college have resume writing courses/webinars/sessions? Most business schools typically do so start there and see if you can take advantage of that. As silly as this sounds, a google search can also help give you inspiration and ideas for how to make your resume stand out however always be sure to tailor it to yourself. What makes a good resume is the same as when you applied for schools - showcasing a breadth of activity, experiences, projects, etc. Any leadership positions are always a great add on - for example, if you're involved in student government, or Business fraternity, leadership in a club or Greek organization, community service, etc
Q8: This one is tough to answers since I'm not familiar with your school's course availability. My school offered a "Business Dinner" event where we learned how to network and interact while eating dinner (how to fold your napkin etc ha) - a little unique but I bet if your school doesn't offer that, there are other schools in the area/classes that would. I recommend a google research to see what you can find in your area for soft business skills. Note some of these will cost additional money to attend.
Q9: I'd recommend begin applying in the Spring/Summer of your college Junior year - as you go in to you Senior year. Try to attend as many career fairs as you can, get yourself out there, schedule as many interviews as you can. Early bird gets the worm and you can never have too many options :)
Q:10 Regarding recos for development - I would look into Communication/Writing courses and read some soft skill books (the below have absolutely helped me with my career): "Getting Things Done" by David Allen, "Atomic Habits" by James Clear, and "Think Again" by Adam Grant.
In regards to networking events, does your business college have connections with local/national companies? I know my school had relationships with the Big 4 accounting firms as well as some Consumer Staple companies based in the area which gave students an opportunity to join networking events connected to those companies. Additionally there are national groups like NeXt Up (formally Network of Executive Women), AMA (American Marketing Association), also check LinkedIn for additional opportunities.
Good luck!
Hi Kathleen,
Thank you so much for providing me with a lot of useful information. I will be reading the book recommendations provided. Also, the suggestion of the 5-10 year gap was very interesting I will be implementing this in the next few days.
Fatima
Updated
Victor’s Answer
Fatima,
Amazing that you are already thinking about this so ahead in time, but similar to what other people have said here; no need to panic or overthink on all these topics. All of these will make sense through time, which you don't have to accomplish immediately. Below are answers to your questions:
Q1: What are some skills students looking to pursue investment banking should practice and learn?
A1: Depending on how knowledgeable you are already with investment banking, a good place to start is understanding the fundamentals of valuing an investment, enhancing your time management skills, and some modeling. To get into investment banking, a lot of interviewing questions gear towards your basic understanding of finance/accounting, modeling fundamentals, and how well you handle stress. A good place to start would be to go to WallStreetOasis and getting a sense of the website.
Q2: What are some skills/topics students pursuing finance and accounting should learn about?
A2: I'd say learn topics about accounting first and then taking a dive into basic concepts in finance. Accounting will give you a broad understanding of how profit and loss statement works, operations, and etc. Finance will give you a more forward-looking mindset of in business. Taking economics will also be beneficial for understanding the macro/micro environment. However, going back to WallStreetOasis, there are plenty of tabs that tells you what you exactly need to know to break into Investment Banking. You can also go to Youtube; there are plenty of Vloggers that tell you step-by-step what you need to do to break in.
Q3: Are there resources or books or anything else where I can learn concepts in finance and accounting and even more specific topics such as studying for the CPA exam?
A3: You can either go to AICPA.org, or go to your local library/school library and look up CPA exam preps. Honestly, taking your accounting courses and supplementing it with free CPA materials online is enough for you to pass the CPA exam!
Q4: Common topics in the CPA exam? Book recommendations to study for the exam?
A4: Every CPA prep book will have all the things you need to gear towards when studying for the CPA exam.
Q5: Books for corporate finance and investment banking?
A5: Refer above; I believe WallStreetOasis can cover this.
Q6: What is some advice for preparing for interviews for internships?
A6: Start early! Most investment banking internships are secured during Sophomore year in college.
Q7: How can students network?
A7: There should be plenty of clubs in your school which have built-in alumni networks. If not, feel free to hit up professionals on LinkedIn. You might get ignored most times, but there are people willing to chat; and if you build that relationship early on, they can be your ticket in.
Q8: When is a good time to start preparing for the CPA exam?
A8: Most likely after graduating college but before you start your full-time job. Trick is, you want to have fun in college; but you want to retain as much of your college-exam taking skills and college-accounting knowledge as much as possible.
Q9: What makes a good resume stand out?
A9: Personally, I'd say actionable resume points. You want to show what you've done and how that has impacted you or the Company you are interning at. See if you can apply to any on-campus internships your college might have as well.
Q10: Are there any courses that are recommended to practice skills both soft and hard skills?
A10: Most of your "hard" skills will be learned during the job. Point being is, you just need to ace your interviews. So just practice on your soft skills on interviews.
Q11: When is it best to start applying to jobs?
A11: Investment Banking ideally starts at your Sophomore year, where you are looking for IB internships. Accounting ideally starts at your Junior year, where you are looking for Big 4 internships.
Good luck!
Amazing that you are already thinking about this so ahead in time, but similar to what other people have said here; no need to panic or overthink on all these topics. All of these will make sense through time, which you don't have to accomplish immediately. Below are answers to your questions:
Q1: What are some skills students looking to pursue investment banking should practice and learn?
A1: Depending on how knowledgeable you are already with investment banking, a good place to start is understanding the fundamentals of valuing an investment, enhancing your time management skills, and some modeling. To get into investment banking, a lot of interviewing questions gear towards your basic understanding of finance/accounting, modeling fundamentals, and how well you handle stress. A good place to start would be to go to WallStreetOasis and getting a sense of the website.
Q2: What are some skills/topics students pursuing finance and accounting should learn about?
A2: I'd say learn topics about accounting first and then taking a dive into basic concepts in finance. Accounting will give you a broad understanding of how profit and loss statement works, operations, and etc. Finance will give you a more forward-looking mindset of in business. Taking economics will also be beneficial for understanding the macro/micro environment. However, going back to WallStreetOasis, there are plenty of tabs that tells you what you exactly need to know to break into Investment Banking. You can also go to Youtube; there are plenty of Vloggers that tell you step-by-step what you need to do to break in.
Q3: Are there resources or books or anything else where I can learn concepts in finance and accounting and even more specific topics such as studying for the CPA exam?
A3: You can either go to AICPA.org, or go to your local library/school library and look up CPA exam preps. Honestly, taking your accounting courses and supplementing it with free CPA materials online is enough for you to pass the CPA exam!
Q4: Common topics in the CPA exam? Book recommendations to study for the exam?
A4: Every CPA prep book will have all the things you need to gear towards when studying for the CPA exam.
Q5: Books for corporate finance and investment banking?
A5: Refer above; I believe WallStreetOasis can cover this.
Q6: What is some advice for preparing for interviews for internships?
A6: Start early! Most investment banking internships are secured during Sophomore year in college.
Q7: How can students network?
A7: There should be plenty of clubs in your school which have built-in alumni networks. If not, feel free to hit up professionals on LinkedIn. You might get ignored most times, but there are people willing to chat; and if you build that relationship early on, they can be your ticket in.
Q8: When is a good time to start preparing for the CPA exam?
A8: Most likely after graduating college but before you start your full-time job. Trick is, you want to have fun in college; but you want to retain as much of your college-exam taking skills and college-accounting knowledge as much as possible.
Q9: What makes a good resume stand out?
A9: Personally, I'd say actionable resume points. You want to show what you've done and how that has impacted you or the Company you are interning at. See if you can apply to any on-campus internships your college might have as well.
Q10: Are there any courses that are recommended to practice skills both soft and hard skills?
A10: Most of your "hard" skills will be learned during the job. Point being is, you just need to ace your interviews. So just practice on your soft skills on interviews.
Q11: When is it best to start applying to jobs?
A11: Investment Banking ideally starts at your Sophomore year, where you are looking for IB internships. Accounting ideally starts at your Junior year, where you are looking for Big 4 internships.
Good luck!
Hello Mr. Lau,
Thank you so much for the thorough information.
Fatima
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to develop your career in investment banking.
Finance, Accounting, Business, etc. knowledge may be useful but it is not limited. It really depends on what role in the investment banking you would like to develop you career. Eg It may require mathematical or engineering skills if doing financial modelling in the front desk.
And, the Investment Banks would look for candidates having good analytical and critical thinking skills. It also needs to have fast learner and open minded.
Suggest you can explore more on different job types in Investment Banking and the required knowledge & skills. Also, you can look for intern opportunities as well.
Hope this helps! Good Luck!
Finance, Accounting, Business, etc. knowledge may be useful but it is not limited. It really depends on what role in the investment banking you would like to develop you career. Eg It may require mathematical or engineering skills if doing financial modelling in the front desk.
And, the Investment Banks would look for candidates having good analytical and critical thinking skills. It also needs to have fast learner and open minded.
Suggest you can explore more on different job types in Investment Banking and the required knowledge & skills. Also, you can look for intern opportunities as well.
Hope this helps! Good Luck!
Hi Rebecca,
Thank you so much for providing me with your perspective and recommendations.
Fatima
Updated
Megan’s Answer
Q: What are some skills/topics students pursuing finance and accounting should learn about?
A: Professional communication in the form of email writing, emotional intelligence, get your CPA!
Q: Are there resources or books or anything else where I can learn concepts in finance and accounting and even more specific topics such as studying for the CPA exam? common topics in the CPA exam?
A: The AICPA.org website is a great site. Check out their 'Resources' tab to start. There's also details on the CPA exam there. The CPA exam changes form and content periodically to better equip you with skills to serve clients and the public. The CPA exam I took is not the CPA exam you will take and it was not the CPA exam my mentors took either!
Q: What is some advice for preparing for interviews for internships?
A: Having canned responses is good to have in your back pocket for reference, but as an interviewer, I want to know that you can have organic conversation and adapt your responses to my responses.
Q: How can students network?
A: Every time you meet someone you are networking! Keep relationship building in simple terms.
Q: When is a good time to start preparing for the CPA exam?
A: Yesterday? Haha. The answer is now. My advice to students is to not cram for accounting exams. If you took the time to really learn and digest the material during college, etc then the CPA review materials will be just that - review - ahead of the CPA exam.
Q: What makes a good resume stand out?
A: I look for leadership experience and work experience. Grades should be good but I have be flexible if the person has a lot of responsibilities and good real-world experience that is adaptable.
Q: When is it best to start applying to jobs?
A: When you're ready to work and have everything lined up to make sure you can follow through on that commitment. This is applicable to both part-time and full-time jobs. The first time I applied to an internship, I forgot to check if it was virtual since I didn't have a car of my own yet!
Q: Do you have any recommendations for professional development?
A: Always be reading the news to digest general themes that impact your job and/or industry.
A: Professional communication in the form of email writing, emotional intelligence, get your CPA!
Q: Are there resources or books or anything else where I can learn concepts in finance and accounting and even more specific topics such as studying for the CPA exam? common topics in the CPA exam?
A: The AICPA.org website is a great site. Check out their 'Resources' tab to start. There's also details on the CPA exam there. The CPA exam changes form and content periodically to better equip you with skills to serve clients and the public. The CPA exam I took is not the CPA exam you will take and it was not the CPA exam my mentors took either!
Q: What is some advice for preparing for interviews for internships?
A: Having canned responses is good to have in your back pocket for reference, but as an interviewer, I want to know that you can have organic conversation and adapt your responses to my responses.
Q: How can students network?
A: Every time you meet someone you are networking! Keep relationship building in simple terms.
Q: When is a good time to start preparing for the CPA exam?
A: Yesterday? Haha. The answer is now. My advice to students is to not cram for accounting exams. If you took the time to really learn and digest the material during college, etc then the CPA review materials will be just that - review - ahead of the CPA exam.
Q: What makes a good resume stand out?
A: I look for leadership experience and work experience. Grades should be good but I have be flexible if the person has a lot of responsibilities and good real-world experience that is adaptable.
Q: When is it best to start applying to jobs?
A: When you're ready to work and have everything lined up to make sure you can follow through on that commitment. This is applicable to both part-time and full-time jobs. The first time I applied to an internship, I forgot to check if it was virtual since I didn't have a car of my own yet!
Q: Do you have any recommendations for professional development?
A: Always be reading the news to digest general themes that impact your job and/or industry.
Hi Ms. Nerad,
Thank you so much for your time in providing me with valuable information.
Fatima
Updated
Sasha’s Answer
Hi Fatima,
I hope you find the below helpful!
What is some advice for preparing for interviews for internships? Be prepared to talk about your academic qualifications and how you can draw on your learning and relate it to real life business problems/challenges. Also behavioral Q&A is very common, having a few examples to rely on if they come up is always a good idea. For example, How do you handle a challenge? Give an example of a goal you reached and tell me how you achieved it?
What makes a good resume stand out? I've been told a 1 page resume is all thats needed when applying for jobs. Highlight academic history, past work experience and any volunteering. You can go into further details when you're in the interview.
I hope you find the below helpful!
What is some advice for preparing for interviews for internships? Be prepared to talk about your academic qualifications and how you can draw on your learning and relate it to real life business problems/challenges. Also behavioral Q&A is very common, having a few examples to rely on if they come up is always a good idea. For example, How do you handle a challenge? Give an example of a goal you reached and tell me how you achieved it?
What makes a good resume stand out? I've been told a 1 page resume is all thats needed when applying for jobs. Highlight academic history, past work experience and any volunteering. You can go into further details when you're in the interview.
Updated
Jon’s Answer
The best advice I can give in regards to networking is to utilize keywords in your searches for people in different positions. For example on any search engine I would type in any role or industry you are interested in, try to be specific with that part, and then include an organization or school you are a part of in the search. Different LinkedIn or other professional profiles will come up you can reach out to.
In terms of resume I would try to have quantifiable numbers included in the bio of any role. An example would be the number of people you are in charge of or some financial figures you are responsible for.
Financial skills I would recommend are certainly PowerPoint, but be able to use the full scope of Microsoft Office.
In terms of resume I would try to have quantifiable numbers included in the bio of any role. An example would be the number of people you are in charge of or some financial figures you are responsible for.
Financial skills I would recommend are certainly PowerPoint, but be able to use the full scope of Microsoft Office.
Updated
Atul’s Answer
Do I gather that you are not in the high school but studying to get BS.
The people I know who are in Investment banking have following qualifications:
1) Degree in Finance.
2) Have taken CFA exams - all 3 exams to become CFA. This is not easy. CFA is better choice than CPA.
3) Have an MBA from a reputed Universities.
With these qualifications- this profession requires long hours 12-18 hours as a junior employee before you climb the food chain unless you have an MBA from an Ivy League school.
You will make good money and bonuses are respectable but it comes with a job.
You may have to work for a boutique company before exploring big names.
Keep in mind Everything that glitters is not gold.
Know the Pros/cons before jumping in this profession.
While you are in your 20s, you can put long hours - assuming you know the fact that everything else takes a backseat.
The people I know who are in Investment banking have following qualifications:
1) Degree in Finance.
2) Have taken CFA exams - all 3 exams to become CFA. This is not easy. CFA is better choice than CPA.
3) Have an MBA from a reputed Universities.
With these qualifications- this profession requires long hours 12-18 hours as a junior employee before you climb the food chain unless you have an MBA from an Ivy League school.
You will make good money and bonuses are respectable but it comes with a job.
You may have to work for a boutique company before exploring big names.
Keep in mind Everything that glitters is not gold.
Know the Pros/cons before jumping in this profession.
While you are in your 20s, you can put long hours - assuming you know the fact that everything else takes a backseat.
Hello Atul,
Thank you so much for this valuable information.
Fatima