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The Investment Banking Cover Letter Template You’ve Been Waiting For

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A long time ago I said that we would never post a cover letter template here :

“I was tempted to post a Word template, but I don’t want 5,000 daily visitors to copy it and to start using the same exact cover letter.”

But hey, we already have resume templates that everyone is using, so why not go a step further and give you a cover letter template as well?

Plus, “investment banking cover letter” is one of the top 10 search terms visitors use to find this site – so you must be looking for a template.

The Template & Tutorial

Let’s jump right in:

Investment Banking Cover Letter Template [Download]

Download Template – Word

Download Template – PDF

And here’s the video that explains everything:

(For more free training and financial modeling videos, subscribe to our YouTube channel .)

And if you’d rather read, here’s the text version:

Do Cover Letters Actually Matter?

At bulge bracket banks, people barely read cover letters.

Cover letters matter 10x less than resumes and 100x less than networking.

But there are a few special cases where they’re more important:

• Boutiques and Local Banks – Sometimes they actually read cover letters.
• Unusual Backgrounds – If you’re NOT in university or business school at the moment, you may need to explain yourself in more detail.
• Outside the US – In Europe, for example, some banks pay more attention to cover letters, online applications, and so on.

Similar to grades and test scores, a great cover letter won’t set you apart but a poor one will hurt you – so let’s find out how to avoid that.

Keep your cover letter compact and avoid 0.1″ margins and size 8 font.

With resumes you can get away with shrinking the font sizes and margins if you really need to fit in extra information, but this is questionable with cover letters.

Go for 0.75″ or 1″ margins and at least size 10 font.

With resumes there were a couple different templates depending on your level – but with cover letters that’s not necessary and you can use the same template no matter your background.

1 Page Only

Ok, maybe they do things differently in Australia (just like with resumes) but aside from that there is no reason to write a multi-page cover letter.

If you actually have enough experience to warrant multiple pages, do it on your resume instead and keep the cover letter brief.

Contact Information

List your own information – name, address, phone number, and email address – right-aligned up at the top.

Then, below that you list the date and the name and contact information for the person you’re writing to, left-aligned on the page.

If you don’t have this information you can just list the company name and address and use a “Dear Sir or Madam” greeting.

That’s not ideal – especially if you’re applying to smaller firms where cover letters actually get read – but it’s all you can do if you can’t find a person’s name.

If you’re sending the cover letter via email as the body of the email, you can omit all this information and just include the greeting at the top.

Paragraph 1: Introduction

This is where you explain who you are, where you’re currently working or studying, and how you found the bank that you’re applying to.

Name-drop as much as possible:

• Impressive-sounding university or business school ? Mention it. Even if it’s not well-known, you still need to mention it here.
• Your company name , especially if it’s recognizable, and the group you’re working in, especially if it’s something relevant to finance like business development.
• How you found them – specific peoples’ names , specific presentations or information sessions where you met them, and so on.
• The position you’re applying for (Analyst? Associate?) – especially for smaller places that are not well-organized.

This first paragraph is all about grabbing their attention.

Example 1st Paragraph:

“My name is John Smith and I am currently a 3rd year economics major at UCLA. I recently met Fred Jackson from the M&A group at Goldman Stanley during a presentation at our school last week, and was impressed with what I learned of your culture and recent deal flow. I am interested in pursuing an investment banking summer analyst position at your firm, and have enclosed my resume and background information below.”

Paragraph 2: Your Background

You go through your most relevant experience and how the skills you gained will make you a good banker right here.

Do not list all 12 internships or all 5 full-time jobs you’ve had – focus on the most relevant 1-2, once again name-dropping where appropriate (bulge bracket banks / large PE firms / Fortune 500 companies).

Highlight the usual skills that bankers want to see – teamwork, leadership, analytical ability, financial modeling and so on.

If you worked on a high-impact project / deal / client, you can point that out and list the results as well.

This may be your longest paragraph, but you still don’t want to write War and Peace – keep it to 3-4 sentences.

Example 2nd Paragraph:

“I have previously completed internships in accounting at PricewaterhouseCoopers and in wealth management at UBS. Through this experience working directly with clients, analyzing financial statements, and making investment recommendations, I have developed leadership and analytical skills and honed my knowledge of accounting and finance. I also had the opportunity to work with a $20M net-worth client at UBS and completely revamped his portfolio, resulting in a 20% return last year.”

Paragraph 3: Why You’re a Good Fit

Now you turn around and link your experience and skills to the position more directly and explain that leadership + quantitative skills + accounting/finance knowledge = success.

There is not much to this part – just copy the template and fill in the blanks.

Example 3rd Paragraph:

“Given my background in accounting and wealth management and my leadership and analytical skills, I am a particularly good fit for the investment banking summer analyst position at your firm. I am impressed by your track record of clients and transactions at Goldman Stanley and the significant responsibilities given to analysts, and I look forward to joining and contributing to your firm.”

Paragraph 4: Conclusion

This part’s even easier: remind them that your resume is enclosed (or attached if sent via email), thank them for their time, and give your contact information once again so they don’t have to scroll to the top to get it.

Example 4th Paragraph:

“A copy of my resume is enclosed for your reference. I would welcome an opportunity to discuss my qualifications with you and learn more about Goldman Stanley at your earliest convenience. I can be reached at 310-555-1234 or via email at [email protected]. Thank you very much for your time and consideration.”

Unusual Backgrounds

These examples cover how to apply to a bank if you’re in university, business school, or you’ve been working for several years.

If you have a more unusual background (e.g. you went to med school, graduated, started your residency, but then decided you wanted to be an investment banker), then you might need to add a few sentences to paragraph #2 or #3 explaining yourself.

Resist the urge to write your life story because no one will read it – interviews are a much better venue to prove how committed you are.

Email vs. Attachments

If you’re emailing your cover letter and resume, do you create a separate cover letter attachment?

Or do you make the body of your email the cover letter?

I think it’s redundant to create a separate cover letter and attach it, so don’t bother unless they ask specifically for a separate cover letter.

If you’re making the body of your email the cover letter, make it even shorter (4-5 sentences total) and cut out the address bits at the top.

Optional Cover Letters?

If you’re applying online and it says “Optional Cover Letter” should you still upload one?

You might as well because it takes 2 minutes once you have a good template – it’s not the end of the world if you don’t include one, but you never know what everyone else is doing and it’s not terribly time-consuming.

Cover Letter Mistakes

Remember the role of cover letters: great ones don’t help much, but poor ones get you dinged.

The biggest mistakes with cover letters:

• Making outrageous claims (“I’m a math genius!”) or trying to be “creative” with colors, pictures, fonts, and so on.
• Going on for too long – 10 paragraphs or multiple pages.
• Listing irrelevant information like your favorite ice cream, your favorite quotes from Wall Street or Boiler Room , and so on.

If you think this sounds ridiculous, remember the golden rule: do not overestimate the competition .

For every person reading this site, there are dozens more asking, “What it’s like to be an investment banker?” at information sessions.

Sometimes you hear stories of people who write “impassioned” cover letters, win the attention of a boutique, and get in like that …

…And I’m sure that happens, but you do not want to do that at large banks.

If you do, your cover letter will be forwarded to the entire world and your “career” will be destroyed in 5 minutes .

More Examples

As with resumes, there are hardly any good examples of investment banking cover letters online.

Most of the templates are horribly formatted and are more appropriate for equities in Dallas than real investment banking.

Here’s a slightly different but also good templates you could use:

• Best Cover Letters – MBA Template

More questions? Ask away.

Still Need More Help?

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When we’re done, your resume will grab bankers by the lapels and not let them go until they’ve given you an interview.

Specifically, here’s what you’ll get:

• Detailed, line-by-line editing of your resume/CV – Everything that needs to be changed will be changed. No detail is ignored.
• Your experience will be “bankified” regardless of whether you’ve been a student, a researcher, a marketer, a financier, a lawyer, an accountant, or anything else.
• Optimal structuring – You’ll learn where everything from Education to Work Experience to Activities should go. Regional badminton champion? Stamp collector? You’ll find out where those should go, too.
• The 3-point structure to use for all your “Work Experience” entries: simple, but highly effective at getting the attention of bankers.
• How to spin non-finance experience into sounding like you’ve been investing your own portfolio since age 12.
• How to make business-related experience, such as consulting, law, and accounting, sounds like “deal work.”
• How to avoid the fatal resume mistake that gets you automatically rejected . Nothing hurts more than making a simple oversight that gets you an immediate “ding”.
• We only work with a limited number of clients each month. In fact, we purposely turn down potential clients in cases where we cannot add much value. We prefer quality over quantity, and we always want to ensure that we can work well together first.

FIND OUT MORE

Other Options for Personalized Help: Wall Street Mastermind

Finally, if you want to go  beyond your cover letter and also get help with your resume, work experience, networking, and interview prep, check out Wall Street Mastermind .

They’ve worked with over 1,000 students to help them secure high-paying investment banking jobs out of school (and internships while in school), and their coaches include a former Global Head of Recruiting at three different large banks.

They provide personalized, hands-on guidance through the entire networking and interview process – and they have a great track record of results for their clients.

It could be a great fit for you if you’re looking for comprehensive coaching through the entire process rather than just a new version of your resume or cover letter.

You can book a free consultation with them to learn more .

About the Author

Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street . In his spare time, he enjoys lifting weights, running, traveling, obsessively watching TV shows, and defeating Sauron.

Free Exclusive Report: 57-page guide with the action plan you need to break into investment banking - how to tell your story, network, craft a winning resume, and dominate your interviews

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279 thoughts on “ The Investment Banking Cover Letter Template You’ve Been Waiting For ”

I love how hand downs and direct this page is. Trying to break into IB come from a (semi-)target school but very bad GPA, love how you are always motivating, but realistic. Keep it up!

I am a sophomore and have a low gpa (2.5) should I include this on my cover letter? how do I stand out and not get dinged, low gpa because had to work full time freshman year because my dad lost his job, and my family had health issues. Am an only child.

All you can really do about a low GPA is network extensively so that people who know you can recommend you, and so you can avoid being filtered out by screening tools. See: https://mergersandinquisitions.com/low-gpa-investment-banking/

Maybe include a brief mention of why your GPA is lower in your cover letter, but focus on how you’ve improved since your first year (mention the higher GPA since then).

Thanks for the write up!

If i am writing my cover letter in the body of the email, Do i write the name of the recipient instead of dear Madam ?

I like it not bad

Hey Brian – thanks for this article. Quick question: is there a certain point in your career (in my case, I’m an associate) when you can stop with the cover letters even if they give you the option?

Cover letters are pretty much always optional unless they ask for one.

I was wondering for your template, you gave a solid and formal introduction. I also see other career advice sites that recommend making the cover letter “memorable” and straying away from the cookie cutter method with more flashy intros. As an example just from another online source: When I was seven, I wanted to be the GEICO gecko when I grew up. I eventually realized that wasn’t an option, but you can imagine my excitement when I came across the events manager position, which would have me working side by side with my favorite company mascot. So what’s your opinion on this? I’m sure it’s different for every field, so would you say the average investment banker appreciates something like this, or would it just make them roll their eyes and make you seem too keen/tryhard.

Same Andrew again…

Sorry I should’ve watched your video fully before asking. But you mentioned to not get too fancy with fonts, photos, etc. But would the bit of personal information outside the cookie cutter approach separate you in the slightest? To me, cover letters sound like they have the same purpose as GPA. A 4.0 (good but generic cover letter) won’t give you any advantages, but a 2.5 (poorly done letter) will eliminate you from the application process.

Yes, cover letters are basically used to weed out people, not to select them. You can include some personal information such as an interesting student group, study abroad, or experience that led you to IB, but don’t go overboard with trying to appear “interesting.” Save that for actual networking and interviews.

If you are applying to traditional “high finance” roles such as investment banking, private equity, etc., you should not do anything creative with your cover letter. It will only backfire. Firms either do not read cover letters, or if they do, they simply look at them to make sure you didn’t do something silly or inappropriate. You’re taking a very big risk by writing a “creative” cover letter, and one that has very little upside with tons of downside.

For online applications that request your resume, but do not specify whether a cover letter should be included, should I submit a cover letter? Also since you can only submit one document in these cases, should you compile resume and cover letter into one document?

Thanks so much.

If they just request your resume, just include your resume. I would not even bother with a cover letter or combining them into one document.

Do we have to leave

“Enclosure: Resume”

At the bottom of the Cover Letter? Many thanks

*In Online Application where they ask you to attach your CV and Cover Letter – if that makes any difference

Brina, many thanks for the quick answer. Just a last question:

Shall we sign between sincerely and our name or under our name?Both options are good?

Alternative A:

(Signature)

Alternative B:

The first one is slightly better.

I just wanted to thank you for not only this Cover Letter template but also your Resume template. I have used both and I have received great feedback from interviewers and getting my foot in the door for asset management.

Thanks! Glad to hear it. Good luck!

This question targets the paragraph listing relevant experiences & skills gained through it.

As a University Student with some corporate finance and consulting experience but nothing directly related to investment banking, do you think it would be relevant to list explain skills gained during university classes (e.g. a term project that simulated the entire M&A process based on a real life deal) that involved valuation, simulated investor calls, etc. Or do you believe sticking to actual work experience would be best suited.

Thanks a lot for all the content you post.

Stick to your work experience if you have actual CF and consulting internships. Maybe add a line or brief phrase within a line that mentions your learnings from university classes as well.

I live in the UK and I’ve been told cover letters carry a lot of weighting in the initial application process. I have written a cover letter which is 8 paragraphs but it’s still 1 page. Do you think this would be ok or should I take some stuff out? Thanks in advance, great website you have.

By the way, it’s still size 10 font but I had to reduce the line spacing between the paragraphs to fit it all in.

Cover letters only matter in the “negative” sense, i.e. if you write something stupid or have typos, you could lose an offer or interview opportunity. Your cover letter should be as short as possible, so 8 paragraphs is too long, especially if you had to reduce the font size to 10, which is too small. So, be more concise and realize that bankers glance at hundreds/thousands of these letters each recruiting season…

How do one relate a tax internship experience which I acquired In an accounting consulting firm to an investment banking internship I hope to start with with BofA

Talk about how your tax findings/work affected the big picture… did they potentially change the company’s valuation? What was the impact on the company’s financial statements? Did anything you did result in changes to the internal controls at the company? Did you do any tax work related to M&A or equity/debt deals?

Hi Brian, I have read that the header of a cover letter should match your resume. Is there a reason the header from the M&I resume template was not included in this cover letter template?

??? I think it would be very odd if your cover letter started with your name in a bigger font size at the top… so, no if that is what you are asking about. A cover letter should start with the normal heading of a letter. Your resume is different because it’s intended to present the key points in bullet/highlight format.

I agree. Thanks.

I’m applying online to banks in the EMEA area and most banks ask for my motivation – they don’t require a cover letter. Could I still use this template? or wouldn’t it make any sense to use this template?

If its the case that this template would not be useful, do you have any tips on what to focus on in such a motivation letter?

I think this template is too long for a simple question about your motivation. Your motivation should basically be the last part of your “story” – assuming 150 words for a competency question and a 300-word story. See:

https://mergersandinquisitions.com/walk-me-through-your-resume/

How do you travel like a dug dealer? haha…You are funny. Great info. Thanks a lot. I’m trying to break the front door at Piper Jaffray so I can put my little two feet inside that door.

hey, i am actually studying law in France but i wanted to go on trading/investment banking/hedge fund area. What would you suggest me ? Which arguments should I point out ?

Thanks a lot !

??? I’m not sure I understand your question.

The links for Workbloom – Investment Banking Intern Template and Vanderbilt – Cover Letter Template are not valid anymore. Is it possible to fix that? Thank you very much!

Sincerely, Frank

We don’t have alternate links, sorry. But the template there wasn’t much different anyway.

Hi Brian, I had a question in mind. I have been working with a Big four Audit firm in India for the past 10 months now, and have a Bachelors in Commerce degree from a non-target University here. The role here is Back-end, as in we do not have client interaction, and rather coordinate with the US/EMEA teams – which deal with the clients directly – for the work. Recently, I got a call from GS for an Analyst position under the Data Resource Group for its IB Division in India. How do you suggest I pitch my auditing experience to get an offer for this position? Also, considering the work I do here is back-end and basically, formatting files around and punching in numbers! Thanks in advance for your help!

I would just point out how your audit work led directly to results with clients and how you were a part of the client-interaction process, even if you didn’t speak with them directly. As a result, you have a good understanding of what they’re looking for and how to get them results most efficiently.

Thanks for the template. Is it correct to include in the cover letter an entreprise which I am auditing or not?

Sure, you could, but you have to be able to tie that to whatever role(s) you’re applying for.

Hi there, thanks for the cover letter template you provided. It’s a great help. Just wondering does the same template work for UK application? As you mentioned they tend to pay attention to cover letters.

Yes this template works for UK applications.

Thank you for sharing your blog, it helped a lot cos I am also having a hard time in writing a cover letter and I suck! Hope you can help more. Keep it up!

Thank you for sharing the template and guide! I am a recent college grad and just started working in an economic consulting firm (last month). I want to make the career transfer to IB and I am trying my best networking everywhere. I am applying for an IB analyst position and editing my cover letter. Should I still mention in the cover letter my leadership roles in college or it does not matter much?

Many thanks!

You can mention them briefly, but you should focus on your current role.

Thanks for the template! After working as an ER associate for 2 years in my hometown, I am moving from North America to Europe in the next few weeks. Should I mention in my cover letter something to the effect of “After visiting [country] several times over the past few years, I applied for and received my Work Visa” or will the recruiter assume I have a visa and do not require sponsorship? I just do not want to be passed over if they are assuming I will be a headache for them!

Furthermore, I am also hoping to move from ER to corporate. Besides tailoring the letter to reflect skills mentioned in the posting, are there any other changes that need to be made when moving out of capmarkets?

Thank you for your time!

Sure you can include this. Yes, I’d talk about why you want to move from ER to corporate and talk about why you prefer corporate over ER (perhaps you prefer the type of work in corporate better and you see yourself in a corporate vs. in a bank) and you want to move over to XX industry [the industry the corporate you’re applying for is in] given XX reason [ideally you’ve covered that industry in ER before]

Thank you Nicole. Should I be putting this explanation in paragraph 2? Or later on in the letter?

I’d probably list this later in the letter.

Hi, I’m studying in the US and applying to summer IBD internship in 3 different locations (New York, London, HK), so who should I address to in my cover letter since there is only one cover letter for three different recruiters? Thanks!

I’d say Dear Sir/Madam or To Whom It May Concern

when you express abbreviations, let’s say M&A, how do you put it in a cover letter? i.e., (“M&A”) or (M&A) without punctuations mark?

M&A is fine I believe

Hi! You mentioned that putting the name of the recruiter is always better than just a “Dear Sir/Madam”. When applying in London, do you think it is appropriate to address the cover letter to a recruiter I haven’t personally met that I just found his name via an internet search, specifically from Linkedin. Also, there are dozens recruiters for the same company on Linkedin, should I still address the letter to a specific person? What about if it is the director of HR? Should I address it to him/her directly?

Yes, I’d address the email to Director of HR. If you don’t know the person’s name, I’d say “To Whom It May Concern” or “Dear Sir/Madam”

Hey, I have a question concerning applying for an internship at G&S in Europe. Instead of a cover letter they want you to submit a motivational statement with 300 words when applying, which is according to them similar to the cover letter. But I am a bit unsure that I express my motivation for applying for an investment banking postion with this cover letter because it focuses more on previous internships. Should I outline my internships and then explain that I want to pursue an career in IB because of them? and should I mention my extra curriculare activities which involve leadership experience and exotic interests?

I’d briefly touch on your previous experience and focus on why IB, and why GS. If the previous experience can serve as your IB spark, use them. So yes you can mention that you want to pursue a career in IB because of your previous internships, but don’t dive too deep given word limit and you can address that in interviews. No, the latter part should be demonstrated on your resume, unless you have space in the statement

What should you do in [Signature]?

I’m not sure I understand your question. I’d just insert your signature there.

Upload an image of your handwritten signature?

Yes you can do that. Copy and paste it below “Yours sincerely/Best Regards”

I resigned from my previous role in April this year as we were planning a family move to another country However, it did not materialize due to some unexpected changes and I have to start looking for a job again. This has left an employment gap of about 3 months in my resume. During this period, I have taken the BIWS course to enhance my knowledge. Shall I mention my current status and address that in my cover letter? or leave it out and talk about it when asked during interview?

Xavier, you can list that on your resume and cover letter. You may also want to talk about other activities you’ve done during those 3 months.

I am a first year associate working at a boutique bank on the trading floor and trying to switch into equity research/banking side. How is the cover letter different from the cover letter template above. Do I need to specifically state why I am switching?

Yes you need to address why you’re switching

Do you have any suggestions as to how I can gracefully address this? The reason why I am switching is because I don’t feel like I am learning much out of my positions – not being given much responsibilities, etc…

I’d focus on the positives on why you prefer the other division versus your current one; not what you’re lacking.

Hi, I am wondering when introducing my skill sets and experience in the second paragraph of the cover letter, is it appropriate to use bullet points? e.g. my key skills/experience include: bullet point: A bullet point: B

Yes you can do that, though a lot of times we find that its best to follow our template, unless you’re a very experienced candidate

I worked at a boutique investment bank for an internship and I was wondering how I may explain my low gpa on my cover letter. I would focus on my strengths and what I learned from the position but sooner or later the question of gpa will be addressed either during an interview or sent through email. How would I approach this?

This may come up in interviews and I’d address it then. I am not sure why you had a low GPA. If you had family/personal reasons you can list that. Otherwise if you were taking more advanced courses because you were too ambitious and got a lower GPA as a result of that you can list that too.

I’m applying to various finance and IB positions and my documents will be seen as a package sent through my school. I created my resume in a very similar format to the template on your website, only using .5″ margins. I have the same header layout (with name and personal info) on both my resume and cover letter. My question is regarding holding these .5″ margins on both of my documents to keep a consistent look. I’m just curious as to whether this would be a good or bad idea, or as to whether you think it would even matter.

I haven’t seen the format of your resume so I am not 100% sure. 0.5 margins maybe a bit crowded but depending on your content it can be doable. If you have lots of solid content, yes this is applicable. Otherwise, I’d shorten your content and go for the standard margins

Hey, this template isn’t just for investment banking right, it can be used for targeting internships in accounting as well? Same with the resume template?

If you change the paragraph from why IB to why accounting, you can use this template. The resume template is tailored to IB though you can use it for Accounting roles too

I graduated from a top school 1.5 years ago, but unfortunately ended up at a not so impressive bank. What’s the best way to name drop the school in the cover letter? Thanks.

First paragraph – you can just say that you are working at XX bank and have recently graduated from XX school

I am applying to three different divisions in the same investment bank that are different in nature (2 back office and one front) and there is only one cover letter for all three that asks you to describe your motivation for each. Since they are different positions, how do I go about this?

I’d be generic and focus on why finance and how you can make an impact to the firm

How about adding the recommendations from the previous job? Is it worth? Should we add it even if they do not menton about that?

You can provide recommendations upon request

Hi, I am wondering whether I need to include a signature in my cover letter for online application. If so, should I just insert it in the pdf document or scan a paper copy of the cover letter? Thanks!

Yes you can include it. Both works.

Yo’re welcome.

Just a follow-up question: I am applying for summer analyst position at CS, and they only allow one application per applicant. Should I use the same cover letter during campus recruiting (addressed to an alumnus) for my online application? Since I am applying to CS HK as well, I am wondering whether I should use a slightly different cover letter.

Sure I think this shouldn’t be a problem. Yes the HK one should be slightly different – i.e. why HK, why Chinese market

Dear M&I staff,

I’m a master student in Europe. I’m currently attending a Master of Science in Finance after completing a bachelor in business administration. Do you have any specific suggestion about my first paragraph? Also, if I can’t find the name of the recruiter, how can I start the letter? I was thinking about expressions such as “To whom it may concern…”; does this work?

Thanks in advance

Yes it does, or Dear Sir/Madam.

First paragraph – I’d follow the template on the post

Dear Sir or Madam,

My name is [Insert Name] and I am currently pursuing a Master of Science in Finance at [Insert University Name] where I have also been awarded a Bachelor of Science with honors. How would this sound?

Sounds good, though I’d probably just use My name is [Insert Name] and I am currently pursuing a Master of Science in Finance at [Insert University].

Hey Brian/Nicole, Thank you guys so much for this website. I spend days on it reading your articles! lol I’m just wondering when I do the name-dropping on the cover letter, is it alright to put the company names in bold? or is that too much? What do you guys think?

Thank you for your kind comment. You should credit Brian for his hard work! I don’t think its necessary to bold company names. I think its probably better to leave it “unbolded.”

i a lil older i was originally an engineering major, left school (didnt graduate), started working as a stock broker, then mortgage broker, and then more sales background. I then re entered school and graduated with a degree with finance, gpa not so high bc of past screw ups, but now looking to break into finance. I love finance, and cant figure out how to convey that in a cover letter. can you help?

Focus on the impact you’ve made in your previous roles. Then say while you’ve enjoyed and learn a lot from your previous experience, you realize [Talk about your IB spark here], and that you realize you wanted to pursue IB because [XYZ]. Then say that you’re confident that your [XX] skills can be an invaluable asset to the firm (something around those lines)

If I’m applying for a job based on an online job posting (LinkedIn / other job board), then in my 1st paragraph, ho would you address the section about how you learnt about the job / company ?

(I find it awkward to say that “I recently learnt about your company through your online ad on abc.com”)

ThankX Guys!

I recently learned about your company from [a contact/an event/an online job posting] and was impressed with what I learned of [List what you’re impressed with here]

Hey Nicole,

Thanks for your reply.

I’m finding it awkward to write “I learnt about your company from an online job posting” bcoz I feel it sounds like I did not know them before seeing the posting (which, in turn, sounds insulting for the company).

Instead, can I just say “I recently found out about the XYZ position at ABC Capital & want to apply for this position”?

Sure, this sounds good. No, this isn’t insulting – this is why companies post on job postings! It is best if you have already spoken to people at the company and use that as an intro. line.

please i am an undergraduate in my final year with just one internship experience and one teaching experience, that was before i gained admission. i want to know if it is appropriate to include my date of birth and list of referees; i will also like to know the maximum length of resume ideal for some one in my category. Thanks.

Please see https://mergersandinquisitions.com/free-investment-banking-resume-template/

No, I don’t think you need to include your DOB and list of referees. Maximum length of your resume would be 1 page.

Hi Brian, thanks so much for creating this awesome website.

I’m a year one student in a non-target uni in HK who’s interested in IBD. My first semester GPA wasn’t stellar because I had a hard time balancing family issues and adapting to a new country.

I’m currently applying for several pre-internship programs, and am afraid my less-than-3 GPA will cause my immediate disqualification. What can I do?

I’ve had several leadership positions in high school, am great at networking/socializing, and speak a few languages. But my first semester GPA is lackluster. Please advice, should I explain in my cover letter?

Best Regards, Sara

Yes, your GPA is likely to be alarming to interviewers. Sure, you can explain the above on your cover letter, though I would focus on your strengths and what you have achieved first. You want to draw people to your strengths. I’d also try as hard as you can to boost your GPA next semester and craft a very good explanation when you land interviews.

Hey there M&I,

Firstly, I’d just like to thank you for this template – it truly is priceless.

I’m from Melbourne, Australia and I’d like to break into Investment Banking for a long-term career.

I’m starting a Bachelor of Commerce degree at The University of Melbourne and I was thinking of double majoring in Accounting and Finance.

I feel as though this will put me in a good position for Investment Banking and will also provide me with a few alternatives should I be unable to make it to Investment Banking or decide that it’s not for me.

Sorry about the long-winded explanation, I guess what I want to know is whether or not the double major sequence I have suggested is desirable in Investment Banking or there is a better sequence you could suggest to me.

Also, what do you have to say about people getting summer internships after first year? I haven’t heard of anyone doing this before, but have you? How should I go about trying to increase my chances?

Thanks very much!

Thanks. Yes, that sequence is fine but I don’t know if it would give you an advantage. From what I understand about Australia, I believe most people who get into banking there actually have dual Commerce and Law degrees.

Summer internships after year 1: very tough. You’d have to aim for small local firms. And probably not common in Australia.

I’m applying to a Private Equity internship and I completed the BIWS fundamental and advanced modeling courses. Should I talk about this in my cover letter? Right now I just have a general statement about it and that I worked on some case studies.I was wondering whether I should go more in depth and mention a specific case? Leave it as a general statement? Or take it out completely

Yes, definitely mention the specific case studies as that makes it sound much better than just saying you completed the courses.

Document for listing them on your resume (you may be able to apply parts of this):

http://biws-support.s3.amazonaws.com/BIWS-Courses-Resume-Instructions.docx

Thanks Brian,

I took your advice and mentioned specific case studies.

One other thing, currently in the second paragraph of my cover letter I talk a lot about my internship experience, but this internship doesn’t have to do with IB, its accounting and sales for a hotel. I did spin it in away that says that I picked up skills from this internship that I can apply to IB, PE, etc. Should I focus less about this and more on the BIWS courses, and projects in school I worked on since it doesn’t directly relate?

I would probably do an even split in that case.

I found this guide and template very useful. I was wondering, though, if I were to apply online to bb investment banks that didn’t make any meeting at my university and require a cover letter, what should I write in: “I was recently introduced to your firm via [Friend / Contact at Firm / Presentation] and was impressed with what I learned of [Your Culture / Working Environment / Bank-Specific Info.].”

I know about these banks just because of their fame, so should I just skip this part?

Sure though having this line may be more convincing.

I am now applying to Société Générale M&A summer internship in Power, Utilities and Infrastructure department. I tried to find some alumni working there. I could manage to find one via linkedin; however, i cannot contact him because he sets a permission. I wonder what should i write on cover letter if i can’t find a contact in SG?

Dear Sir or Madam / [Name of Recruiter if you have it]

Dear Nicole,

I feel sorry not to explain it clearly.

Quoted from the IB template: ” I was recently introduced to your firm via [Friend / Contact at Firm / Presentation] and was impressed with what I learned of [Your Culture / Working Environment / Bank-Specific Info.] ”

I searched SG career website but they mention the work environment and culture very vague. I tried to find an alumni working there; however,the alumni office hasn’t replied me yet.Even worse, SG hasn’t held any campaign event at our uni. At present moment,I can’t manage to get a contact at firm. I did search they have an aggressive expansion plan for the department 2 years ago. Should I mention this instead?

Much thanks

It would help if you have spoken to a contact who is working/worked there or attending one of their info sessions. Otherwise, yes it may be useful to mention of their department’s aggressive expansion plan.

Hi! What if I have not attended any presentation and I do not know nobody that work in a specific bank? Can I still apply online? I am applying to investment banks in London and I know that they recruit using the online application process.

Yes you can still apply online.

Hi Nicole/Brian,

Adding to what Paolo has mentioned, what about the cover letter? Since we do not know anybody that work in that specific bank (nor attend any presentations), who do we address the cover letter to? (Or is it better not to submit one if the cover letter is optional?)

Secondly, is it alright to say that we found out about the job/vacancy by browsing through their website?

Again, thanks for your continuous kind support.

Regards, Rifki

Quoting from the article:

“If you don’t have this information you can just list the company name and address and use a ‘Dear Sir or Madam” greeting.’ ”

If it’s optional, I wouldn’t even bother submitting it especially if you don’t know anyone there. Yes saying you saw it through a website is OK.

Thanks Brian!

I’ve just graduated in Finance and Accounting but wasn’t able to get summer internships in my 2nd year. What else can I write in section 2+3? I’ve got work experience in wholesale, an accounting firm and an insight day at a Merrill Lynch which were just before I started uni, i.e. 2009 can I still use these in this section or would it look bad since they are old?

I’ve taken part in many trading simulation games in teams etc which show all the skills you have mentioned in the paragraph, would it be acceptable to use this as an example even though it was a simulation?

They wouldn’t look bad but not exactly current. Ideal if you have recent experiences to list. Otherwise you can list them

Yes – show the returns you generated

Thanks for the useful resources.

Last year, I hadn’t as much insight and experience with IB (I was coming from law and bearely started to study a MSc-Finance in a good school). I still got two interviews with a nice boutique and a bb. I got reject at the final round.

This year I’m applying again (I’m currently doing an off cycle M&A internship)

1. Shall I mention I applied last year, and why I like the firm so much? or shall I just make a regular cover letter and avoid to mention I applied a year ago?

2. How many interviews should I go through to secure an offer, or what is the average? I’d like to know whether I am doing something bad or just if it is because you need to go through several interviews to finally get something?

3. What would shall I do with the current market if I secure another off cycle internship or a full time M&A position in a leading law firm? (I prefer finance than law, but I m getting old and need to start working as oppose to “intern”)

Sorry for this long thread, thanks for your help.

1. you can mention it if you want though I don’t think its necessary 2. hard to say – depends on you. people generally go through more than several rounds of interviews to land an offer 3. network a lot

Last year, I hadn’t as much insight and experience in IB profiles (I am coming from law and bearely started to study a MSc-Finance in a good school). I still got two interviews with a nice boutique and a bb. I got reject at the final round.

— Shall I mention I applied last year, and why I like the firm so much

Hi, I have an upcoming interview with a bulge bracket bank in Capital Markets. I submitted my resume about 1 month ago and got selected recently. My resume was updated recently and is much much more in depth than before. Should I reach out to the recruiters and ask if I can have them replace the resume on the website with my new one? Or would this be frowned upon? Thanks!

Yes, please do that!

Thank you for your tips, they are great!I have two questions:

1. All templates I find are about experienced people. If you are a person with no experience (or with a very short experience in a different area), how can you turn this fact around and convince someone to hire you? Should you really emphasize your academic background?

2. I started a PhD but early on I realized that it was not the right fit for me. How and where should I mention this? Should I explain why? I am afraid that no one will be considering me for a job position because I am quitting the PhD…

Thank you so much!

1. There are templates for inexperienced hires – pls look for the one for undergraduates. If you have NO work experience at all, I’d suggest you to emphasize your academic background and extracurricular activities. 2. Explain this on your cover letter & interviews. No, it shouldn’t be a problem if you know how to spin your story. Most jobs don’t require a PhD these days anyway.

Hi, Thank you very much for uploading the template.

But what if I don’t have background info or experiences specific to the investment banking industry even though I have banking experience in a different field such as Loan Officer? Will that matter?

I will be considered as a fresher in that case how can I convince anybody about changing my profession to investment banker or wealth management analyst from this profession?

And can you also please help me with a sample C.V for freshers in Invest and Wealth Management.

I do have an MBA in finance.

You’ll have to figure out why IB and pitch your story well.

You can use the same template for Wealth Management – just focus on your research and investment experience

I’m planning to use this short cover letter as my email body. My question : “Should I opt for a longer version with more elaborate details?”

— Dear Sir/ Madam [or the recruiter’s name],

I would like to express my interest in a position as [position] for [company].

As you may perceive from my summary, I’ve been leveraging my consulting and technical skills from my previous career as an IT Consultant to break into the finance industry. Thus, I’m adapt at translating clients’ problems into a satisfying, concrete solution. I also possess good leadership skill and can work well with others. [ + other skills the company valued / demanded for this specific job]

I would love to expand my career with your company, and am confident that I would be a beneficial addition to your company. I have enclosed my resume and I would welcome a personal interview at your earliest convenience.

[Name and contact address] —

Any input would be greatly appreciated. Thanks

I’d keep your email short, sweet and succinct. Anything longer than that is too much.

Hello, my question is regarding the introduction —

“Paragraph 1: Introduction This is where you explain who you are, where you’re currently working or studying, and how you found the bank that you’re applying to.”

I have nearly 2 years of consulting experience, but have recently been laid off. Since I’m no longer working or studying, how would I approach this as far as introduction?

Just introduce yourself and tell interviewer you’ve been laid off due to the lackluster economy – they should understand. Tell them what you’ve been doing with your free time i.e. traveling, studying, picking up a new hobby, etc. As long as you sound like you are doing something productive/interesting with your life, you should be fine

Errors – If there are minor typos that most people don’t see at a glance, are you in the clear? I’m not sure if people read cover letters that closely especially during OCR when hundreds of people apply at the same time from one school.

It depends on whether your reviewer is attentive to details or not!

I don’t exactly have a stellar GPA, so I was wondering if the cover letter is where I would explain myself? Or is it better to just not mention it? Thanks! And love this website!

It depends why you don’t have a stellar GPA – if you have a legit reason i.e. you had sick parents you needed to take care of etc I think it would help

Thanks for the article. I just had a quick question. I was originally interested in marketing and completed two internships my freshman year undergraduate (currently a junior applying for summer analyst positions). Since then I have had several research internships. Would it be a good idea what lead my decision to go from marketing to banking in my cover letter?

Any input would be awesome. Thanks!

Yes I would explain why you changed your mind in your cover letter and point to a specific person/incident

I am studying at a “frontier market” university and am currently an exchange student at a highly ranked (Top 100) universities.

Should I use an exchange studies university in a cover letter instead of a university where I’ll be graduating and mention it accordingly (I am currently an exchange student at…)?

No, I think you should still use the university where you’ll be graduating

ha frontier market. I am putting where I am an exchange student with the frontier school I attend.

I’m applying for an internship in the US, but I’m studying in Germany. Should I mention that my University/Business School, is one of the best business schools in Germany?

Thank you for your answer!

I don’t think it makes a difference. You could try but reviewers might not necessarily care too much re that

Hi, thanks so much for this article. I am writing a cover letter to J.P. Morgan, but I cannot find the office address in HK, shall I omit it at the top?

But what if I don’t have background info or experiences specific to the investment banking industry? does that automatically rule me out as a candidate even though they specify that finance background is not necessary?

Could I simply emphasize my skills and abilities that I have gained through other experiences such as working for an NGO?

Not necessarily.

just one other quick question. At Goldman Sachs, one could apply for internship in several divisions and they have asked motivation for applying to different divisions. Would it make this impression that you yourself do not know what division is right for you when you make applications for several divisions? Thanks a lot.

With Goldman, yes. However, in a way you still need to hedge your bets because one division’s MD might like you and the other’s MD might not.

I’ve shown my CL to the Head of HR in my firm and he adviced me to write something “catching” as a title between the date and “Dear Sir or Madam,..”. So do you think it would be okay to write there: “Why I am a good fit for taking part in your spring programme”? Or does this sound too arrogant?

Thanks a lot! Jevira

This sounds generic.

Have you got another idea or just put there: Spring Programme at XYZ. :D Thanks, and sorry for the time you lose with all my questions..

Come up w something original he said right? I don’t know if the above is original. You should just ask him what his suggestions are. I’d love to help but I need to think through it and have to look at your CL; wouldn’t be fair to other customers who are paying for our CL editing service.

Thanks very much for your helps. I have a few questions and I would greatly appreciate if you could help me. I am doing a double degree master in Complex Systems Science (A multidisciplinary field), so I have studied one year at Warwick, UK and now I am studying the second year at Ecole Polytechnique, France. 1) Should I mention anywhere that I have had a multidisciplinary approach since in my field I have to interact with people with completely diverse backgrounds, from Physics and math to economics and Philosophy? 2)I have got a full scholarship from European commission for my studies. How should I mention it? 3)I think many people are not very acquainted with the structure of such joint programs between two universities in two different countries. In my CV, shall I mention it as two masters and not saying that they are in fact joint? 4)My master thesis has been about financial contagion and I do not have ant job or internship opportunity, so how should I write the second paragraph?

Thanks in advance and sorry it becomes too long. Mostafa

1. Not sure how you will be wording this one. Difficult to use this to stand out 2. Yes 3. No, put joint but you can separate the two in diff lines 4. Can’t help you on this one.

Hi, it’s me again. Does this template also apply for online applications where you have to upload the cover letter? Or can my personal adress, the banks adress and the date can be removed withous replacement?

Yes these templates apply to online apps too

No, I don’t think you should remove the details you mentioned

I’m a first year university student in the UK, and looking to apply to a spring division internship at Goldman Sachs (and probably many others in the near future).

I have litte actual experience in terms of working for firms, but have competed in many stock market challenges/competitions, and I have come to university a year early, having been moved up a year.

Clearly with my lack of experience, I will need to slightly change the template you have provided above; how would you recommend I do this?

Many thanks.

I nearly asked the same thing – but my question didn’t even appear.

You should elaborate on your stock market challenges/competitions

Is it okay to write under my asset mgmnt firm that I “increased producivity of checking several entries by about 60%”? It was an excelsheet with about 120 rows in which I had to find the entries which were more than once in these rows. (it was an excel formula I made for that).

Or does it sound ridiculous?

Oh, its in the CV, not the cover letter.

yes it does sounds a bit ridiculous and monotonous. Sorry.

So I’ll delete :) Thanks. Its very difficult to boost your CV.

btw: may I send you, Nicole, my CV that you could look over that? You see my email adress, i guess. I’d really appreciate it! Thinking, that it sounds “too” ridiculous…

We’re not offering resume editing at the moment but will be introducing it shortly, so you can watch for that announcement.

What does “shortly” mean? Within this month? And will it be free? If not, how much would it cost? If you’re launching in the very near future, please reserve one place for me :-).

Haha yes but not free. Sure.

Thanks for your work!

My question is that if I apply for some regions where original language is not English i.e. China, Japan, will it be ok I send a 2-page resume/cl with one in English and another Chinese/Japanese/whatever? or seperately in 2 .pdfs?

Thanks again

No. Not necessary. Just send a one-page resume in English

If bilingual required?

No still submit one pager unless they ask

Thanks Nicole.

Another not-related question, do you think that a 4-month full time internship in PE department of commercial banks, say, standard chartered, strong enough to pass the summer/FT online selection? prior to that i had internship in big-4. a senior in university and will pursue a finance master degree right after. thanks

Should do but again it depends on what position you are interviewing for and which division you are looking at. Also depends on who is screening you..However, I believe your experience should suffice

Do you think sending a cover letter with a CV directly to the Head of investment banking dpt is inappropriate? The bank is hiring (according to website). Sent my CV to HR a month ago, no responce.

Sure, just send him a brief email and your resume. No point in sending a cover letter – address what you need to say briefly on the email

What is your opinion about listing client names. Obviously working in a deal situation it would not be acceptable to mention a client name and the transaction itself if this is not public but in my case I have done a lot of work which didn’t result in deals however I am quite keen on mentionning the clients as I have worked with many PE and large Corporate clients. Is it fine to write: “selected list of clients: A,B,C,D,E…

Why would you want to use names there? Just for more credibility when you discuss deals? I would still avoid using names if possible for dead deals. You can still mention that you’ve worked with some big PE names such as X but I wouldn’t go into details; pretend deal is still ongoing even if it died, and leave out the names.

https://mergersandinquisitions.com/why-investment-banking-deals-fail/

You do such a great service for idiots like me!Keep it up.

Hi! For my motivation letter, which the company requires on their application website, shouldn’t I just say I like money and that I want to work for their company because I would like to earn a lot? Or should I go with the “It’s my passion… I like to be challenged… I’d like to contribute innovations for the growth of the business…” bits? Thank you!

applications for bulge brackets. thanks!

Um #2, always

Okay, thanks!

I am beginning to write my cover letter for a number of boutique banks in the fall to apply for analyst positions. What do I if I don’t know anyone at the firm and can’t namedrop a presentation I attended (1st paragraph)? Can I just say

“My name is John Smith, and I am a recent graduate of Fordham University (Class of 2011). I am interested in applying for an analyst position at XYZ firm”

Is there anything else I can add to the first paragraph to flesh out my cover letter a bit? Thank you very much and keep up the good work!

That’s fine

Hi, I recently switched to a major in economics from engineering. The engineering curriculum at my school is very challenging and had a negative impact on my GPA over my freshman/sophomore year (3.4 currently). Would it be appropriate to list that I was previously an engineering major on my resume to reflect the challenging curriculum I was previously engaged in?

Yes that’s a good idea or at least reflect coursework on there

Thanks for the cover letter and resume templates, they’re really helpful. A friend of mine used your templates to score a summer internship in corporate finance advisory at a big four company in london and I was able to score a SA offer in the IBD of a BB firm in frankfurt, germany. we’re both germans btw.

depending on how fulltime recruiting develops we should set something up for a “breaking into IB in europe”-feature if you see the demand for this. So long, Nick

Congrats, interesting to hear that it works in other countries. There are a few articles on Europe (UK, Germany, Italy) already but could use more if you have a unique angle.

A company was recruiting at my college, and all they asked for was for us to send them a 1-page motivational letter? Any idea what I can include in the letter? Eg, why me? Why should I get the offer? Why should I get the bursary? My strengths and weaknesses?

They don’t want a cv, they just want a motivational letter. I’m not too sure what to include in it. Any help would be appreciated.

I would just follow the cover letter template here and expand on it a bit… don’t go into strengths/weaknesses, just follow the outline above.

Thanks Brian for putting up such a nice website and sharing valuable stuff with us aspirers. I might be using a wrong space to look for your suggestions anyways here I go. My challenge here is to make a successful transition from a business development/ strategy side (prior 3 yrs of exp. with a commercial bank) to IB. Being done an MBA recently from a decent B school in UK where I gained the required skill sets for IB, I was targeting at BB which doesnot seems to be working out my way so I m considering the small boutiques as well to start with. I thought a good cover letter can win recruiters attention in my case. Any advice on the approach I should carry to enter into IB & put my prior experience into use to encash it is highly appreciated.

If you do a search for “Networking” and “Cold-calling” you’ll see the most helpful advice – cover letters do not make a difference, focus on your cold-calling and networking skills and do not give up until you try hundreds of places.

is it okay to put stuff on your resume you don’t mention in your cover letter? or should your resume ONLY include stuff from your cover letter?

It’s fine, you can’t even mention everything in the cover letter anyway

In the 3rd paragraph you explained that we should say something along the lines of “I am impressed by your track record of clients and transactions at Goldman Stanley…”

This is obviously a great way to tailor your cover letter, but I was wondering where you find out information of transactions. I’ve found some doing a simple Google search, but is there an independent authority that tracks all of these? As well, how do you know which transactions to mention? The ones that the firm is particularly proud of or ground-breaking?

Use the WSJ Deal Journal or NYT Dealbook to find recent deals they’ve done, anything sizable or significant e.g. the Goldman / Facebook deal

I realized I made a grammatical error in the last paragraph of my cover letter today. I never noticed it before and I’ve sent it to three places already, one BB and two boutiques. Big deal?

No, no one reads cover letters anyway

Firstly thanks for the website, it’s great.

My question is: in most summer IB internships, they ask several cover letter-like questions like “In 250 words max, describe your career aspirations” etc., however there’s usually an option to upload a cover letter as well. Would you advise keeping it concise or would you include examples of IB-related things, adapted to the question, despite the fact you’re effectively rewriting the cover letter?

This is in UK by the way.

Thanks in advance.

Just keep it concise – competency questions are not a big factor vs. CV/interviews.

Thank you for the template.

Quick questions:

Should we use the email format for a doostang message as well?

No keep it way shorter like 2-3 sentences maybe

Dear M&I,

I guess I’m the most complicated case here. I’m currently doing BA in Art History and Italian at UCL, London, now doing my Erasmus in Italy. However, last summer I worked as a M&A Summer Analyst in a small boutique bank specializing in cross-border M&As. There, I started from scratch, with no finance experience/knowledge, but learnt a lot and had lots of hands-on experience, since the company was really small and I was involved in literally everything.

I’m applying for summer internships in large investment banks and about to start writing my cover letters. I assume I must explain myself for studying Art History & Italian and my out-of-the-blue interest in I-Banking, plus use my last summer experience as a selling point. Any other specific hints?

Thanks in advance for your help!

Well, why did you work there? What made you interested in doing that? Reference a specific person or if nothing comes to mind use something from the news or your background e.g. I was always really interested in Italy and the UK and got interested in finance as a result of [xx] so I wanted to explore cross-border M&A and leverage my skills/interests like that.

Hi, I have completed my masters in Drug Discovery and Translational Biology. But currently I am planning to apply for any investment banking positions. As I don’t have any background or experience in the given field, i don’t what to write in the 2nd and 3rd paragraph.

Can you please help me,

Talk about the analytical skills you gained and how they apply, or the leadership / project management skills or anything else like that from previous internships or school.

Hey guys, this letter just repeats what is inside the Resume anyway. What is the additional value for the potential employer to read this kind of resume? There are no additional information. Wouldnt it be better to wite about your motiviation, your personal (not work) background, and reasons to chose this department/bank ? Or would it harm to do this?

Furthermore, the letter includes the information about resume enclosure 3(!) times. I like this site but this template really does not look too promising for me!

So don’t use it? The point is that no one reads cover letters, but in case they do, you don’t want to screw up by saying anything controversial or anything that could be misinterpreted.

If you start writing your personal story, bankers might mistake it for a soap opera script rather than cover letter.

Cover letters have no value at all, but just like grades if you screw one up it could hurt you. This template is intentionally boring and gives very little information because otherwise people would download this and insert pictures of unicorns, write about their past relationships, and other nonsense.

Great comment, made me laugh

Do you recommend being creative in cover letters, ie varying sentence structure, using big/expressive words ?

No, creativity is for marketing or poetry – this is finance.

I’m a US student currently at Oxford for my junior year. All the applications for the UK offices are online. I know you have already answered the question before, but I don’t want to make any mistakes. So just to clarify:

1. Omit the physical addresses, mine as well as theirs. 2. Omit the recruiters name leaving only the name of the bank 3. Omit the signature 4. Do not enclose resume since that is a separate attachment

Thanks so much in advance.

Hie ,i realy luv ur advice!.,Im doing a Bsc in Financial modelling with UNISA.is this a good start for a career in investment banking?.i finish next year, could u tell wat i can do to make myself marketable after graduation.

Honestly, I’m not sure on that one because I’m not familiar with the school. If a lot of banks recruit there, it’s fine; otherwise you should transfer elsewhere.

Its University of SouthAfrica ,im also staying in Africa.is there something i could do 2 giv me an added advantage over my coleagues?.

This article has some tips on South Africa: https://mergersandinquisitions.com/investment-banking-south-africa/

Hey M&I,

What’s your take on headlines (i.e.Application for IB Analyst) and postscripts? I’ve heard from many friends to add them on because they will grab attention. But then again, they aren’t going into banking.

Thanks, Mack

Not applicable for banking

i will be applying to merrill lynch. In the template, you stated many of the internship and job roles that provide the skills required to be a great investment analyst. However, i was just wondering, if i have a perfect gpa, perfect sats score, how can i use these to my advantage in my cover letter?

You can’t really, just list them and be done with it – no point in trying to emphasize those because there’s not much to say and they speak for themselves.

Hi, If the firm’s online application says “you can only attach one file: this should contain your CV, cover letter and any other materials relevant for the position”, does it mean in the word document file I upload, the 1st page is resume, the 2nd page is cover letter and the 3rd is transcript? It looks pretty strange because the document is gonna be 4-5 pages. But since they only allow me to upload one file, I’m not sure what to do with the cover letter and the transcript. Or can I just omit them and attach the resume document only? Thanks a ton.

I would not send the transcript unless they specifically ask for it, otherwise just create a 2-page file with your cover letter and CV

First of all, great website! It’s really helpful and I think you guys are doing a great job.

I am visually impaired, however I have always followed regular education and have performed like anybody else (also in jobs, at associations, etc). Many banks stress their emphasis on diversity and now I am wondering if I should include this fact in my cover letter / online application? On the one hand I feel it would fit great into the whole “what are you most proud of”-question, but I am also scared it might work against me?

Please note I’m applying London, not NY. (I think European regulations might differ from US-ones). I go to a European target school.

Personally I would not list it on your CV / cover letter / online application, but maybe bring it up in an interview if it fits in naturally.

Hi Brian, I was beginning to start writing coverletters–atleast get them going, but I’m confused on where to find the unique strength of each BB, which makes it diff from its competitions. One of the things which makes a good cover letter is that its specific to a firm, but I dont know how to find such information. For instance, I was looking at MS, Barclays website in the section ,’Why MS’ or ‘Why Barclays’, and it seems every firm had the same agenda. We are committed to diversity , team player etc. Obv I need to go into more depth than this. Brian where I can find information specific to each BB on their website? I would really appreciate it. Thanks a lot.

You should read the WSJ Deal Journal blog and look for recent mentions of the bank and what deals they have been advising on – then reference those in the cover letter.

Hi Brian, I’m in a similar position as the above poster. For companies without a personal contact I want to talk about a specific deal they’ve advised on.

I’m just unsure how to formulate such a sentence without encouraging diffcult to answer questions.

E.g. I was thinking of something along the lines of “I was impressed with your company’s role as target advisor in the $X bn acquisition of companyX”

I’m afraid this would result in the question of ‘why were you impressed?’.

Any chance you could give a sample sentence of how you would talk about a deal in a cover letter?

P.S.: Keep up the good work with BIWS, love the constant updates. Highly recommended, well worth the money!

You can say something like “I recently saw news of your role as an advisor in the $X bn acquisition of company X and was immediately interested, since I’ve followed the [X] industry for awhile.”

Hi, I graduated from a target, went to medical school after graduation, but left after two years to pursue a career in investment banking. I now work at a small investment research firm, and I am applying for 2011 analyst class.

How much “explanation” do I need to do in cover letter? Or should I just focus on my job experience and modeling skills?

I don’t think you need much explanation since you quit medicine after 2 years, so just focus on other aspects

Is the physical address at the top still necessary if you’re attaching the cover letter as a .PDF in an online form?

I can’t thank you enough for all these info Brian,

In all honesty, I did have a sudden family death last year for which I had to leave school in the middle of the semester and come back after about two weeks. I got in a lot of psychological stress and uncertainty and I ended up messing up my grades significantly for two semesters. However, I did improve last semester with a full workload (maximum number of credit hours allowed at my school + advanced level classes) and got near 4.0.

How should I mention this on my cover letter? Also, how would I do that on an electronic cover letter which should only be about 4-5 sentences?

Thanks again in advance.

I would just say you had a health issue and had trouble balancing everything, but quickly learned your lesson and received perfect grades right after that. Giving a family excuse sounds fake so I would probably not write that even if it’s true.

Thanks but the thing is that wasn’t my freshman year. It was my sophomore year. So I did well my freshman year than poorly as a sophomore and improved as a junior.

Also, what about the electronic cover letter? Would it be ok to take up some sentences to explain my situation?

Just say you did poorly “at first” and then improved and have perfect grades this past year. I would still keep your cover letter short as no one has time to read a lot.

I would appreciate your advice on this.

I’m a senior at a target school in Far East Asia. It’s really tough to get into a BB here and I’m thinking of visiting each BB and handing them my resume and cover letter to ask for a junior equity research position. I doubt I’d be able to personally meet the head of research or a senior analyst without prior arrangement, so I’d be probably handing my resume and cover letter to HR. I need to stand out but I have no equity research internship experience. What I do have, is a equity S&T internship at a BB and a RA (intern) at a top-tier mgmt. consulting firm. Plus experience managing a personal portfolio and trading derivatives in notable amounts.

Now, my problem is this. I made it to the final round for a junior ER position at GS but unfortunately was not given the offer (the offer ended up going to someone with some full-time experience in ER; had I been competing against fresh-out-of-college candidates would the result have been different?). I would like to mention this in my resume or cover letter hoping that it would serve as evidence that I’m really interested in ER and that I have the potential. But I’m worried that this might send the wrong signal. Who would like to accept a candidate knowing that he was unsuccessful elsewhere? I’m worried that I might appear arrogant in their eyes. I’m thinking of visiting CS, UBS, Citi, MS, ML, JPM, etc. In ER here in Asia, they’re at least at par with GS if not better…

I realize that answer to this may depend on the culture here. Please advise. Thanks.

I would not mention an unsuccessful interview with GS for the reasons you mentioned.

Hi Brian! Long time reader, first time poster. I’m currently a rising senior at a target school on the tale end of my internship at a strong boutique bank in New York. I only have one week left, and I’ve been given zero modeling opportunities. I’m very disappointed. I figure that I should ask for some modeling work. But I have some questions.

1) Does it reflect poorly in interviews for full-time that I didn’t do any modeling? Should I “stretch” the truth?

2) Do you have any other relevant comments about doing a junior year internship and not getting any modeling experience? I’m concerned with how this hurts my full-time credentials, how this might affect my resume, and how overall my standing will decrease relative to my peers because I didn’t get modeling experience.

It’s quite common not to have modeling experience… just say you did research and assisted with potential clients / potential buy-side deals but don’t say anything about modeling. Most people do no modeling in their internships so it doesn’t matter much anyway.

What’s a better part-time fall internship, BB PWM or no-name boutique (I mean no name.. say 3-7 employees)?

Both are about the same, but the boutique is better for your resume because you can write “Investment Banking Analyst”

off-topic question:

I often read though it’s June interviews are still taking place.

When do banks in America/Europe begin accepting applications for: 1) summer interns (analyst) 2) full-time (analyst/associate)

Is the end of a summer intern equivalent to the end of the full-time offer application period? Because ppl. might are offered a full-time offer after their summer intern.

To put it in a nutshell: When is recruting/application time generally?

Summer interns are December/January, full-time is August-September.

And when do you start as summer intern, when u successfully applied in dec/jan or successfully applied for aug/sep?

Summer interns usually start in June

This post reminded me of the classic cover letter to Lehman that was on Leveraged Sellout. I tried to see it, but it appears LSO has shutdown. Is this the case? Are the days of re-reading the same, hilarious stories over?

I don’t know because it’s not my site, but yes it appears to be down. Maybe check the google cache.

Thanks for the release of this article, much appreciated.

Curious on an unrelated question though, when you try to develop relationships with bankers and do the initial outreach to set up an information interview, how far ahead should you plan? I mean should you give them dates within the week you email, 2 weeks ahead, etc?

Also, for specific time slots you ask for, what time is it usually best for a banker to talk to someone about that? Like early morning, late night, right after lunch, etc?

Thanks again, H

Give dates within the next 1.5 weeks so they have a few days to respond. Usually right after lunch is best for bankers, for traders you have to call after market hours are over

Hi Brian, Thanks for the website, I have a quick question for you. I am in one of the new Masters in Finance/Management programs. I am at a target school for undergrad/MBA (think UNC/Duke/UVA). However, since the program is very new, banks don’t know much about it. Aditionally, although I have had some Wealth Management internship experience, I don’t have an I-Banking internship.

Given my situation, do you think it is better for me (in terms of B-school and exit opportunities) to go into a top ten consulting firm (excluding MBB) or try for mid-market/boutique investment banks (My school is very good in placing people in consulting), assuming I don’t get into a BB. I ultimately want to end up in PE or HF (preferably PE).

Thanks for your help.

I would still say banking because consulting –> PE is very tough unless you go for firms like Golden Gate Capital that hire a lot of ex-consultants… and even there they’re mostly from MBB. Much easier to go from smaller bank –> PE than to go from smaller consulting firm –> PE.

Should I mention the fact that my company is in F500? It’s know in Europe, but I doubt it is known in North America.

You can add it in, yes

I don’t have any inside experience about the recruiting process, but a friend/colleague of mine (BB) mentioned that while recruiting for regional european branches/off-cycle internships often look at the cover letter, they almost never do it for summer positions in London.

Everyone seems to have different stories re: cover letters, but they are certainly less important than resumes, networking, or interviews

What about for laterals?

Same template applies but talk about how your previous banking experience applies to the new position you’re applying for

I appreciate your template for its compactness, I understand I shouldnt overestimate the competition, but Im trying to sell myself to the recruiter, so simply mentioning my skills and experience will not differentiate me from the “competitor”…?

I personally dont have so much experience in the finance realm (although Im genuinely interested in it and have managed to get a ten day insight into a BB) so do you encourage mentioning transferable skills I acquired through extra curricular activities, ie football = teamwork, etc, etc…

Cover letters are not really the place to “sell” yourself, which is why this is short… much safer to keep it boring and then do the selling via networking / interviews.

I know this is supposed to be basic, but the first paragraph is pretty useless. Your name, university/job position and contact details will already be on your resume so what’s the point in wasting time and space repeating the details on your cover letter. Also, saying “I am interested in pursuing an [Investment Banking Analyst / Associate] position at your firm” is also somewhat redundant, since the recruiter knows what position you’re applying for.

The template is good as a starting point, but on the off chance someone actually does read your cover letter, I would try to do a lot more than just make redundant statements.

This template is for both email and traditional letters… and in email it’s certainly not redundant. Even with traditional letters you are introducing new information by giving the name of the person you met at their firm as well as your major / where you’re working more specifically.

so do you expect the same stats as what you have written for the resume template? A given population, and a limited percentage will download it, and even a limited percentage will copy it word for word?

Cheers, thanks for all the great info!

In the grand scheme of things, yes – online a lot of people use these templates but most people who apply to banks do not use them.

I’m currently a rising junior at a semi target looking to be a SA next summer. This past summer I interned at a discount brokerage firm but had significant responsibilities (they didn’t have to hire an additional broker because of me) and got a lot of experience and face time with clients.

I have an opportunity to apply for a PWM internship for the fall with Morgan Stanley Smith Barney. Should I continue with my current internship through the fall or would it look better to move to the more distinguished name? I imagine the work would be similar. thanks

Go to the better name

nice template, it sure will be easier for internationals like me to write one now. thanks.

Thank you for the cover letter template.

“If you’re making the body of your email the cover letter, make it even shorter (4-5 sentences total) and cut out the address bits at the top.”

Do you mean we should drastically cut down the entire 4 paragraph cover letter into 4-5 sentences?

Yes, make it so they don’t have to scroll much (if at all) when reading on a Blackberry. 1-2 sentence intro, 2 sentences on your work experience and how it makes you fit for the job and then 1 sentence conclusion.

A nicely put article! Anyway, I like the new template for the website too!

A question that is unrelated to the article:

How far does an interviewer expect you to know in a previous live deal that you were previously involved in as an INTERN? I mean really, to be fair, often times, even if interns are being put into live deals, they are only doing menial works (including me), such as researching, data mining, presentation slides building, etc.

How far of financial analysis would the interviewer expect you to know?

Also, in terms of financial modeling, you’ve said it before that it is the kind of work that everyone should want to be exposed to. But what if the financial modeling is not for a live deal, but for a potential deal? Would it still look better than the menial works in live deals?

Thank you! You have no idea how helpful you have been.

They expect you to know what you indicate you know… so don’t set expectations very high. And yes any type of modeling work is better than menial tasks

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At most investment banks , cover letters that accompany resumes are barely read, if read at all.  Applications are typically screened according to your resume , with school and GPA as the first filter.  If you went to a “name” school and have a strong GPA, then your resume and cover letter are read in more detail.  To help you get through the screening process, we’ve created this guide to writing an investment banking cover letter.

Unfortunately, cover letters are often more of an opportunity to make a mistake than an opportunity to impress. Your best bet is to keep your letter short and straightforward, taking care to not say anything too daring or risky.

If you do have something unique to note, a particular value-add, then your cover letter can be a great tool for showcasing it.

Investment banking cover letters are fairly formulaic. The sections below give a breakdown of each of the areas of information that should be included and what information to put in each.

There are three main components to a standard investment banking cover letter:

• Introduction
• Experience & Fit

As we noted before, it’s a simple, straightforward (not fancy) document.

Introduction (one paragraph)

Experience & fit (two paragraphs).

Next, go on to describe whatever relevant experience you have that makes you an ideal candidate for the bank to hire.  This can include work experience, university clubs/associations, certification programs, or other activities .  Try to connect your experience back to investment banking skills such as financial modeling and valuation .

Explaining why you’re a good fit for the firm is very important.  To demonstrate fit, you have to understand the bank’s culture (i.e., the values they talk about externally, which may be different from the actual internal work atmosphere).  It’s important for the recruiter to feel confident that you’ll fit in well with the firm. Therefore, make sure you’ve done your homework and are familiar with the primary values the bank espouses in their marketing materials.

The best way for you to determine if you are a good fit with the bank is to network with people who work there and learn first-hand what the culture is like. Once you know what it’s like, you can make an honest assessment of how close a fit you actually are. In any event, whatever you’re able to glean about the company culture, try to work something into your investment banking cover letter indicating how well you’ll fit in. For example, if you determine that the company is especially focused on providing first-class customer service, you can indicate that you focus on providing the specific kind of service that each individual client wants.

Conclusion (one paragraph)

Finally, wrap things up by reiterating how keen you are to work at the bank, why you’re well-suited, and pointing out that you’ve enclosed your resume and are reachable at your contact information to discuss the opportunity. The conclusion is an almost pure formula section. No real new information should be presented there. Simply tie up everything you said in the first two sections.

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How to Write a Winning Investment Banking Cover Letter

Introduction

In today’s ever-growing field of investment banking, it’s clear that a carefully designed cover letter is one of the most significant factors that can establish the applicant amidst a vast number of contenders. It is not just a mere document that can be taken as a formal requirement; it is a major document that has the potential to either pave the way for an interview or not. A good cover letter that targets a particular investment banking position that you are interested in will be a good starting point and show the employer why you are interested in the investment banking position, which is an important, though often overlooked, aspect of charting one’s investment banking career.

Analyzing the Investment Banking Cover Letter

An investment banking cover letter is a preview of your resume and spells out your experience, skills, and interests. This means that, unlike a resume, which gives a clear outline of the candidate's abilities and experiences, a cover letter gives the employer a flowing story about how you meet the job requirements. This individualization shows your care and concern for the position and the organization and thus should not be overlooked in your employment portfolio.

As with most aspects of the job search process, a cover letter must be unique to an application and sensitive to the company and organizational culture, such as its vision and mission statements or the news items concerning the company. This not only proves your work ethic but also positions you in the right way—your goals are the company’s goals.

Structure of an Investment Banking Cover Letter

A standard investment banking cover letter follows a clear and professional structure:

• 01. Header with Contact Information: This is your identification information: your name and address, telephone number, email address, and date. The name, title, company name, and address of the intended recipient should follow this.
• 02. Greeting: Ensure that the letter is to someone; it would be better if it were the employer or the head of the company that is doing the hiring. If the name is missing or cannot be used, the proper way to start the letter is “Dear Hiring Manager.”.
• 03. Introduction: Use an attention-grabbing technique that will get the reader’s attention from the onset. State the position you want to apply for and where you saw the advertisement for the job.
• First Paragraph: A short introductory presentation of yourself, the position you hold at the moment, and your work experience.
• Second Paragraph: Enumerate your investment banking skills and experience and correlate these with the job description. Be specific, and employ metrics and results wherever possible.
• Third Paragraph: Show the employer that you know something about the company and why you would like to join the team.
• 05. Conclusion: It is important to summarize your points made in the body, recap the passion you described concerning the position, and end with a call to action, such as asking for an interview.
• 06. Closing: At the end of the letter, type a polite closing such as ‘Sincerely,’ ‘Best regards,’ etc., and then your name/initials.

Essential Components of a Successful Investment Banking Cover Letter

Incorporating specific elements into your cover letter can significantly enhance its impact and improve your chances of landing an interview.

• Personalization: Writing your cover letter to a specific person assures the employer that you took your time and researched. Picking the role and referring to it directly, along with adapting the content to the company's activities and values, performed well.
• Highlighting Relevant Skills and Experiences: In your cover, a brief description of your professional experience is provided based on specific requirements of the job, and mentioning work experiences most suitable for the position is ideal. It is recommended to write down bullet points or short statements that outline accomplishments that can prove useful in the position.
• Demonstrating Knowledge of the Company: This part should indicate to the employer that you have taken your time to gather as much information about the company as possible. State some of the latest projects, achievements, or corporate values that you find inspiring. It not only indicates your genuine interest in the company, but it also helps you to be on the right track in fulfilling the company’s goal.
• Emphasizing Soft Skills: Besides the knowledge and expertise in the specific field, it is crucial to accentuate soft competencies like communication, collaboration, and critical thinking. These are very important, especially for the teamwork that is characteristic of investment banking.
• Expressing Enthusiasm and Motivation: They must recognize your passion for the position and the field. You can give more details about why investment banking attracts you and how this job corresponds to your career plans.

Writing Tips for an Effective Cover Letter

To ensure your cover letter stands out in the competitive investment banking industry, consider the following effective tips:

• Strong Opening: Your first statement to write must be catchy and pertain to the job in question. Do not start the letter with the typical clichés that most people use when approaching managers for employment opportunities.
• Avoiding Common Pitfalls: Do not use cliches, and do not overuse professional terminology. While drafting the letter, make sure there are no spelling and grammatical mistakes, as it gives a bad impression.
• Using Quantifiable Achievements: Try to express as many of your accomplishments as possible in numbers. For instance, the language used in stating a result, such as “Raised the portfolio performance to 20%,” is much better than the language used in stating a responsibility, ‘Portfolio management.’
• Maintaining a Professional Tone: Never allow your attitude to become arrogant but at the same time, do not appear weak. Update your words and phrases to reflect confidence. This is the time to be both equal and proud, as well as whenever it is necessary to put a stop to ostentation.
• Reviewing and Editing: Cover letters should always be read many times to ensure that there are no mistakes. You may want to have someone else look over it for any oversights that you make as well, perhaps your mentor or a coworker.

Investment Banking Interview

Interview preparation requires extensive study and practice on the part of candidates. Your cover letter has a central role in this preparation process since this document describes the main facets that you will have to explain in detail during the investment banking interview questions . By preparing for behavioral-based questions, ensure you are conversant with the content of your cover letter and be ready to expound on the points. This may be true, but it is indeed important to always rehearse common questions that may be asked in an interview alongside making sure that the career story is outlined cohesively.

Writing an investment banking cover letter is an essential part of pursuing an investment banking career path . When making a cover letter unique, identifying skills and experience, as well as showcasing performance, the chance of creating an effective narrative that sets one apart is achieved. Ensure that your letter is professional, quantify your accomplishments, and proofread before submission. By writing a good cover letter in addition to good interview preparation for investment banking jobs, the probability of getting the job opportunity is significantly boosted in this competitive market.

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5 Compelling Examples of Investment Banking Cover Letters

By Status.net Editorial Team on July 13, 2024 — 6 minutes to read

Your cover letter is important because it introduces you to potential employers and sets you apart. It should explain why you’re a good fit for the role and highlight your skills and experiences.

Investment Banking Cover Letter Template

Dear [Employer’s Name],

I am writing to express my interest in the [Job Position] at [Company Name]. With my background in [relevant field], I am excited about the opportunity to contribute to your team.

Thank you for considering my application.

Sincerely, [Your Name]

Examples of Investment Banking Cover Letters

Dear Ms. Smith,

I am eager to apply for the Analyst position at Goldman Sachs. My degree in Finance and my internship experiences have prepared me well for this opportunity. I am confident in my ability to contribute effectively to your team.

Sincerely, John Doe

Dear Mr. Brown,

Enclosed is my application for the Investment Banking Intern position at J.P. Morgan. My background includes strong analytical skills honed through my academic projects and internship at a local bank. I am excited about the possibility of bringing my skills to your esteemed firm.

Sincerely, Jane Smith

Dear Ms. Miller,

I am pleased to submit my application for the Associate role at Morgan Stanley. I possess a Master’s in Business Administration and demonstrated success in past roles. I am enthusiastic about the chance to leverage my skills at your company.

Sincerely, Alice Johnson

Dear Mr. White,

My application for the Junior Analyst position at Bank of America Merrill Lynch is enclosed. With my Bachelor’s in Economics and my analytical experience, I am ready to excel in this role.

Sincerely, Michael Lee

Dear Ms. Wilson,

I am excited to apply for the Financial Analyst position at Citigroup Inc. My academic achievements and previous internships have given me the knowledge and skills needed for this role.

Sincerely, Emily Davis

Crafting Your Cover Letter

Key components of a cover letter.

Open with a professional salutation such as “Dear [Hiring Manager’s Name].”

Write an engaging opening paragraph, detailed body paragraphs highlighting your experience and skills, and a strong closing paragraph.

• Intro Paragraph
• Body Paragraphs
• Closing Paragraph

Writing a Compelling Intro

Your introduction should grab the reader’s attention. Mention how you found the job listing and why you are excited about the position.

Speak directly to the company’s needs:

• “I am thrilled to apply for the Investment Banking Analyst position at ABC Bank.”
• “After reading about your firm’s innovative approach, I am eager to bring my financial skills to your team.”

You can include specific examples like:

• “I have followed ABC Bank’s success through recent financial publications.”
• “My interest in ABC Bank was sparked by your recent merger.”

A strong introduction sets the tone for the rest of your cover letter.

Highlighting Relevant Experience and Skills

In this section, focus on your relevant experience and skills. Match your experiences to the job requirements. Use bullet points to make your cover letter easier to read and understand. Examples:

• “In my role at (…), I analyzed data to improve investment strategies.”
• “I successfully led a team to close several multimillion-dollar deals.”
• “At (…) Bank, I managed client portfolios and delivered above-average returns.”
• “I used advanced Excel skills to create detailed financial models.”
• “Through internships, I gained experience in market research and trading.”

Each example should be concrete and show direct relevance to the job.

Presenting Your Achievements

Showcase your achievements clearly. Explain how your accomplishments align with the job’s requirements. Try to use numbers to quantify your success when possible. Examples:

• “Increased departmental efficiency by 20% through process optimization.”
• “Generated $5 million in revenue through strategic investment initiatives.”
• “Awarded Employee of the Month for exceptional performance in Q3.”
• “Developed a new analytic tool that improved forecasting accuracy by 15%.”
• “Successfully managed a difficult client portfolio, achieving a 12% growth.”

(Achievements provide solid proof of your capability and can differentiate you from other candidates.)

Concluding with a Strong Call to Action

End your cover letter with a strong call to action. Restate your enthusiasm for the role and express eagerness to discuss your application further.

Examples of strong closing statements:

• “I would love the opportunity to discuss how my background and skills can be an asset to your team.”
• “Looking forward to the possibility of contributing to ABC Bank’s success.”
• “I am available for an interview at your earliest convenience.”
• “Thank you for considering my application. I am excited to speak more about this opportunity.”
• “Please contact me at your earliest convenience to schedule a discussion.”

Make it clear that you are ready to take the next step and are keen to hear back.

Personalizing Your Application

Tailoring experience to the job description.

You need to match your experience to what the job description asks for. Start by highlighting your accomplishments that align with the job requirements. For instance, if the job calls for strong analytical skills, mention a project where you excelled in data analysis. Use specific examples to show your skills.

Make sure to use keywords from the job description in your cover letter. This will catch the hiring manager’s attention and show that you understand what they are looking for. Also, avoid using vague or generic statements. Specifics demonstrate your suitability better than broad claims.

Networking and Personal Connection

Networking can give you an edge in the job market. Reach out to current or former employees to learn more about the company. This can provide valuable insights that you can mention in your cover letter. It also shows the hiring manager that you’ve done your homework and are genuinely interested in their company.

You can also mention any personal connections you have within the company. For example, if you spoke with someone during a networking event and they encouraged you to apply, mention it. This adds a personal touch to your application and could make it more memorable.

Addressing the Hiring Manager Directly

Always try to find out the name of the hiring manager you are addressing in your cover letter. Addressing them by name shows that you took the time to research and adds a personal touch. If you can’t find the name, use a specific title (such as “Dear Hiring Manager”)

Include your contact details in an easy-to-find place in your cover letter. This makes it simple for the hiring manager to get in touch with you.

What should be included in an investment banking cover letter?

Your cover letter should have a clear opening that states your interest in the position and company. You should also mention any relevant experience, skills, and education that align with the role. Personalizing your letter by mentioning the company’s achievements can also make a good impression.

How to write a cover letter for investment banking with no experience?

If you have no experience, focus on your education, relevant coursework, and any internships or volunteer work that show you have the skills needed for the job. Highlight any finance-related projects or responsibilities you have undertaken. It’s important to show enthusiasm and eagerness to learn.

How long should an investment banking cover letter typically be?

Stick to about three to four paragraphs. Make every word count and avoid unnecessary details.

What makes a cover letter stand out for investment banking positions?

To stand out, tailor your cover letter to each application. Use specific examples to demonstrate your skills and achievements. Show enthusiasm for the position and the company.

How can I highlight my skills in a cover letter if I am new to investment banking?

Even if you’re new, focus on transferable skills like analytical thinking, attention to detail, and teamwork. Mention any finance courses, projects, or internships. Related: 150 Example Phrases: Top Transferable Skills Every Company Wants

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Investment Banking cover letter example

You’re the person in the know — the Big Cheese. As an investment banker, you let your analytical mind and strong expertise lead the way. You’re confident when it comes to helping clients raise the capital they need to expand their businesses. You have a way with numbers, and you’re not afraid to share it with the right people. If that sounds right, you might need an investment banking cover letter to take your next step on the career ladder. 

Chances are, you have a wealth of experience and skills you’re ready to shout about. However, cover letter real estate is limited. You need to keep this letter to one page, or around 300 words. That can be a tall order, especially when you’ve got a lot to say. 

Here at Resume.io, we have everything you need to help accelerate your job search. We offer expert-backed writing guides, 180+ cover letter examples, and a whole host of templates too. Within this writing guide, and the cover letter example, we will break down: 

• How to select the best format for your investment banking cover letter
• How to boost the impact of each section (header, greeting, intro, body, and conclusion)
• What approach and tone you should take when writing your cover letter
• The basic mistakes you need to know about and avoid here.

Best format for an investment banking cover letter

Before you can start working on your investment banking cover letter, you need to know how the structure works. Luckily, there are some key sections that it should include. The format of an investment banking cover letter should contain the following elements:

• The cover letter header
• The greeting/salutation
• The cover letter intro
• The middle paragraphs (body of the letter)
• The ending paragraph of your cover letter (conclusion and call-to-action)

Sticking to this cover letter format is the best way to go. Put simply, it stops you from writing a rambling letter that seems to have no point. As you work your way through the cover letter, tick off each of the parts we have highlighted. In the next part of this guide, we will offer expert advice on what you can include in each of the above sections too. 

Of course, should you want more in-depth details on how to perfectly pitch your application, you can read our comprehensive cover letter guide now. Making sure that your letter captures the interest and imagination of a hiring manager has never been easier. 

Dear Mr. East, 

My early career as an investment banking analyst has taught me the essentials of value investing, equity research, and financial modeling of positions. I have worked on 20 accounts over the past three years. My work on the Jenkins valuation concluded that it was 45% undervalued and we made $12.5m on the resultant trade. 

Following my degree in computer science, I have embraced the latest AI predictive technologies in my work and collaborated on the award-winning Lastwell project. My extensive input on the $750m Killigan M&A was centered around AI analysis of business synergies that resulted in up to 20% efficiency savings in some areas. 

I have significant experience with IPOs, supporting initializations for 10+ technology companies to varying degrees. I was mainly involved with the risk management desk, creating models that underpinned their strategy propositions. I completed my MBA whilst working on the HalTech IPO, with my dissertation written in collaboration with their Financial Director. 

I am excited at the prospect of joining the Mulling team as you have an excellent reputation for developing your analysts – particularly in the international area. I speak fluent Arabic and would love to work on your growing Middle East desk. Cultural appreciation is vital to building lasting relationships and I know that my background will prove an asset to you. 

I look forward to the potential of an interview to hear more about your analyst program. Your head of L&D Sarah Fuller is a previous colleague and has been encouraging me to apply for a while. 

Sincerely, 

Mark Braceton

Cover letter header

The cover letter heading sits at the top of the page when you’re writing your application. It should include your name, email, and phone number. While this is hardly the most enthralling part of the document, it plays an important role. If a hiring manager is wowed by your application (and they should be!), they will want to get in touch with you quickly. 

Displaying your contact details front and center makes that simple for them. Ensure that this information is clear and easy to read. As a golden rule, you should use a plain font in a legible size. That way, the reader should have no problem gaining the details they need. 

Cover letter greeting 

If you’re applying for a role in the world of investment banking, you should know your stuff. When it comes to the cover letter greeting, it’s best practice to use the hiring manager’s full name. You may already know who is recruiting for the position. If that is not clear on the job advert or LinkedIn post, you might need to grab your detective’s hat and get to work. When you have the name, write it as follows in the letter: “Dear Mr. Smittons.”

Of course, there will be some cases when the hiring manager’s name remains a mystery. Should that happen, you need to avoid the cliche of “To whom it may concern.” That won’t do you any favors.  Instead, go for a more specialized approach, e.g. “Dear [company] team.” You want to make it clear that this is a tailored cover letter, not just a generic one.

Cover letter introduction 

Once you have greeted the hiring manager, the next step is to write your hook. The introduction of your cover letter should pique the reader’s interest. So, what is it that sets you apart from other candidates? Put your best foot forward. Take a moment to consider what your Unique Selling Proposition (USP) is and highlight it in your opening lines. 

There are a few routes you can choose here. For example, you may want to focus on the fact that you have experience working in a similar setting. Alternatively, you could switch your attention to the expert training you have received or any specialist qualifications. 

If possible, you should quantify your experiences. For instance, you might say that you “deliver client results with 99.9% accuracy” — rather than just saying you “deliver results.” You will be going up against a wide array of eligible candidates. For that reason, you should do everything you can to differentiate yourself from the rest of the talent pool. For inspiration, check out our investment banking cover letter example.

Cover letter middle part (body) 

The middle paragraphs of cover letters are where the magic happens. By now, you should have already sparked interest in the reader’s mind. It’s time to use your best storytelling to explain why you are the perfect candidate for the job. Since you are applying for a highly professional and sought-after role, be sure to use a formal and mature tone throughout. 

Don’t make the mistake of simply regurgitating your resume — the hiring manager will have access to that. Instead, in these paragraphs, use the opportunity to state your case. You may choose to expand upon the experience listed in your resume or focus on the achievements you have gained over the years. You may choose to share work-based anecdotes that add color to your experience while also demonstrating your core abilities. 

When you have covered the above, you may also want to delve into what drives you. What made you decide to become an investment banker? What aspirations do you have for the future? Showing the reader that you are passionate about this sector may win you points.

On a fundamental level, you need to make it clear that you would fit right into the business. If you have done your research — about both the opening and the bank — you will be able to tailor your cover letter accordingly. Be crystal clear about what it is you have to bring to the business and how you envision that working out. Go ahead and paint a picture. 

How to close an investment banking cover letter (conclusion and sign-off)

When you’ve clearly explained why you’re the right candidate for the job, all that there’s left to do is sign off. You can conclude your cover letter in one or two sentences. These should be strong, confident, and have an air of enthusiasm about them. After all, this is your last chance to show the hiring manager that you are worth a second look. 

Start by affirming that you have the appropriate experience and skills to hit the ground running in this position. You can also include a Call to Action (CTA) directed toward the hiring manager. For example, you may say “I look forward to the prospect of sharing my thoughts with you in a formal interview.” That message shows that you are optimistic about your chances of getting to the next stage while avoiding making any presumptions. 

Another angle is to leave the hiring manager wanting more. For instance, you might say that you can expand on certain ideas during the interview. Keep your sign-off short and succinct. The clearer the message is here, the more likely you are to get an interview.  

Investment banking cover letter with no experience

New to investment banking? If you want to dip your toes into this pool, you may worry that you lack experience. While there’s no space to expand upon this on your resume, your cover letter gives you some creative freedom. Here are some tips to consider: 

• Focus on your education and any training you have undertaken
• Delve into why you want to become an investment banker
• Touch upon your transferable skills from prior work positions
• Include anecdotes that demonstrate your understanding of finances
• Stress that you have a willingness to learn and develop yourself
• Mention any extracurricular activities that align with the sector

Breaking into this sector can be tough. However, you can use your cover letter to persuade a hiring manager to take a chance on you, despite your lack of experience.  

Basic mistakes in an investment banking application letter (and how to avoid them)

If you’ve read the rest of our writing guide, you should be in a decent position to start working on your cover letter. Nothing should hold you back — least of all silly mistakes. Let’s take a look at some of the basic cover letter errors you need to avoid: 

• Grammar and spelling mistakes. Before you hit that “send” button, you need to make sure you have proofread the letter. You can also use free software, such as Grammarly, to double-check the document.
• Using too much jargon! While the hiring manager may be comfortable with the industry terminology, you shouldn’t take this for granted. Whenever possible, ensure that you use plain, clear language to get your message across.
• Pitching the tone incorrectly. There’s no room for colloquial language or slang here. When you’re writing your cover letter, make sure you are professional at all times.

Key takeaways

• Your investment banking cover letter should be no more than one page long. Aim for roughly 300 words and edit down if you have to.
• Show the hiring manager that you are a real professional by using formal language.
• Wherever possible, highlight examples and anecdotes that highlight your talents.
• Optimize your cover letter for the Applicant Tracking System (ATS) and beat the bots. Pepper your cover letter with keywords from the original job specification.

Want to give yourself a competitive edge? Getting the look of your application just right is a smart place to start. Take all of the hassle out of this task by using one of our field-tested cover letter templates. The next step on the career ladder could be just a click away. 

If you’re looking for some more inspiration on how to position your application, take a look at our related cover letter examples here: 

• Banking cover letter sample
• Finance cover letter sample 
• Finance manager cover letter sample
• Accounting and finance cover letter sample
• Finance assistant cover letter example
• Bank manager cover letter example
• Financial advisor cover letter sample

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Investment Banking Cover Letter Example

Ready to take a step up in your investment banking career? Our investment banking cover letter sample and writing tips are your best bet at winning that next big job.

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Investment Banking Resume & Related Cover Letters

Investment Banking Cover Letter Template

Average investment banker salaries in the us, investment banking cover letter writing tips.

The best way to make sure your cover letter looks professional is by using the correct cover letter format .

Copy-paste Investment Banking Cover Letter (Text Format)

FIRST AND LAST NAME

Email: [email protected]

Phone: (123) 456-7891

Address: Street, City, State

LinkedIn: linkedin.com/in/yourprofile

[Today’s Date]

[Hiring Manager’s Name] [456 Company Address] [Company City, State XXXXX] [(XXX) XXX-XXXX] [[email protected]]

Dear [Mr./Mrs./Ms./Mx.] [Hiring Manager’s Name],

It is with great enthusiasm that I submit my application for the Analyst position at Global Capital Partners, a firm renowned for its innovative approach to complex financial challenges.

As a recent graduate from the Stern School of Business at NYU with a degree in Finance and a minor in Mathematics, I have built a solid foundation in financial theory and its practical applications. My academic journey has been marked by:

• A deep dive into financial modeling, valuation techniques, and merger & acquisition strategies
• Hands-on experience with Bloomberg terminals and financial analysis software
• A capstone project on the impact of ESG factors on corporate valuations, which received departmental honors
• Active participation in the Investment Banking Club, where I led a team in a M&A case competition

What draws me to Global Capital Partners is your firm’s reputation for fostering innovation and your commitment to developing junior talent. Your recent advisory role in the groundbreaking cross-border merger in the renewable energy sector showcases the kind of transformative deals I aspire to be part of.

I’m excited about the prospect of contributing my analytical skills, fresh perspectives, and unwavering dedication to Global Capital Partners. The opportunity to learn from industry veterans while working on high-stakes transactions is precisely what I’m seeking to launch my career in investment banking.

Thank you for considering my application. I look forward to the possibility of discussing how my background and enthusiasm align with the needs of your dynamic team.

Sincerely, [Your Name]

[Today’s Date]

[Hiring Manager] [Company Address] [Company City, State xxxxx] [(xxx)-xxx-xxxx] [[email protected]]

Dear [Mr./Ms.] [Manager’s Name],

My name is Jamie Hass, and I’m writing in support of my application for the Investment Banking Associate position at David Blair & Company. While a Bachelor’s Degree in Finance and a Master’s Degree in Business Administration have given me the fundamental knowledge necessary to be a successful investment banker, it’s the 2+ years at LTA Inc that’s significantly furthered my expertise.

Over the last 2 years as an analyst in the M&A division at LTA Inc, I’ve contribute meaningfully to 6 M&A deals totaling in excess of $3.8 billion , serving as the lead analyst in 3 of these deals. Apart from being integrally involved in valuation and financial modeling for these deals, I was also responsible for maintaining pitch books and ensuring that all stakeholders, both internal and external, had all the information they needed at the right time.

I’ve been praised by my seniors for the attention to detail and clarity in my reports, especially my executive summaries. One of the MDs termed my executive summary for a critical $1.3 billion M&A deal the “ most well-written report I’ve come across in years .” I understand how critical data and reports are in decision making, which is why approach writing even the simplest of reports or updates with utmost diligence.

Another facet of my personality that I’d like to highlight is my networking and people skills. I am proud of my ability to effectively interface with colleagues — be it peers or higher ups — as well as clients, both actual and potential. In fact, I was assigned a summer intern to assist with my tasks while I was just 10 months into my analyst role, a first in my firm. This is a testament to how quickly I settled into my role and my manager’s faith in my people management abilities.

I’m now ready for a more impactful role in a larger firm, which is what motivated me to apply for the position you advertised. I’ll be happy to answer any questions you have in person or online, at your earliest convenience. I can be reached at (phone number) and (email).

Sincerely, Jamie Hass

I am writing to express my interest in the Senior Investment Banking position at Global Investment Partners, as advertised on your company website. With over 12 years of experience in investment banking at top-tier firms, I am confident in my ability to contribute significantly to your team and help drive the continued success of your organization.

Throughout my career at Major Bank and InnoCorp, I have consistently demonstrated my expertise in:

• Leading complex M&A transactions, including a recent $5 billion cross-border deal in the technology sector
• Developing and maintaining relationships with C-level executives at Fortune 500 companies
• Managing and mentoring junior team members, fostering a collaborative and high-performing work environment
• Generating over $50 million in revenue through strategic client acquisitions and deal executions

I am particularly drawn to Global Investment Partners’ reputation for innovation in the fintech space and your commitment to sustainable finance. My experience in these areas, coupled with my strong analytical skills and strategic mindset, position me well to contribute to your firm’s growth initiatives.

I would welcome the opportunity to discuss how my background, skills, and enthusiasm can benefit Global Investment Partners. Thank you for your time and consideration. I look forward to speaking with you soon.

The following table includes information from O*NET Resource Center by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. The data is presented based on the top states by downloads in the USA.

Average investment banker annual salaries by state

Investment bankers perform a range of tasks, from business valuation and financial planning to helping clients raise public and private funds.

Show employers you’re a great fit for the job by showcasing your skills in a well-written cover letter.

Here are three tips for writing an investment banking cover letter that’s sure to make your job prospects bullish:

Highlight investment banking skills

As an investment banker, you’ll spend a lot of time meeting with clients, conducting research, and developing financial models. So it’s important to highlight essential soft skills in your cover letter in addition to your quantitative abilities.

For example, here are some of the soft skills that are vital to success in the field of investment banking.

• Time management skills
• Organizational skills
• Leadership skills
• Critical thinking
• Problem-solving skills
• Project management skills
• Adaptability
• Sales skills
• People skills
• Communication skills

Just as important, however (if not more important), are the technical skills associated with investment banking. Here are some industry-specific hard skills to highlight in your investment banking cover letter:

• Knowledge of economics and accounting principles
• Strong understanding of the financial market
• ERP software ( SAP , Oracle Hyperion )
• Analytical and risk analysis software ( SAS , Portfolio analysis software, SunGard Financial Systems AddVantage)
• Project management software ( Microsoft Project )

Open with a strong introduction

Working with capital markets means a job in investments is fast-paced and competitive. So employers need to know that you have the dedication and work ethic to keep up with the demands of this job.

Get them interested in learning more about you by writing a strong cover letter introduction.

Here’s how to write an impressive introduction for your investment banker cover letter:

• Show your passion for the job. Don’t just say you’re interested, explain why.
• Lead with an impressive accomplishment to highlight your ability to make sound investment decisions. For example, “Successfully increased client portfolio value by 16% annually after completing thorough research and analysis.”

Provide examples of your achievements (with numbers)

Investment banking is high stakes, so employers will want to hear how you can drive results. In your cover letter, provide examples of your accomplishments and use numbers to back them up.

Here’s how you can incorporate data in your investment banker cover letter:

• Trained 10+ new associates on preparing offers and developing financial projections
• Contributed to 6 M&A deals totaling in excess of $3.8 billion, and served as lead analyst for 3 of these deals
• Conducted research and analysis for a $4B acquisition

Quantifying your skills will give employers a sense of what you can contribute and it helps them visualize how you’ll fit in.

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Investment Banking Cover Letter Example and Writing Guide

View our investment banking cover letter example, download the free template, and read our writing tips to learn how to make a job application that convinces employers to invest in you.

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Be sure you use the proper cover letter format to make your cover letter readable and professional.

Investment banking cover letter template (text format)

(Today’s Date)

(Contact Person’s Name) (Company Name) (123 Company Address) (Town) (Postcode) (xxx xxx xxxx) ([email protected])

Dear (Mr/Mrs/Mx)(Contact Person’s Surname),

My name is (Your Name), and I am an investment banker with 8+ years’ experience analysing and coordinating mergers and acquisitions, managing risk, and developing fruitful client relationships. When I read your job advert on LinkedIn, I knew I had discovered the perfect fit for my skills and career aspirations. You’re looking for an investment banking veteran to oversee mergers and acquisitions and attract new high-value clients — and that’s what I do best.

For the past two years in my current role, I have successfully coordinated multiple multi-billion pound deals, including a private equity firm’s £3.5 billion acquisition of a public organisation. I’ve also reeled in 100+ new corporate clients, generating £20 million in revenue.

My further relevant expertise includes:

• Developing accurate financial modelling that resulted in 40+ capital and equity transactions
• Analysing and mitigating market risk to guide client investment strategies
• Issuing securities for multiple nine-figure capital-raising ventures
• Ensuring 100% compliance with government regulations on all domestic and international mergers and acquisitions

I have admired your commitment to ESG from afar for years, and I know I can immediately contribute to your firm’s continued success. I look forward to meeting with you in person to discuss my qualifications further. You can reach me by phone at 07325 664 890 or email at [email protected].

Thank you for your time and consideration.

(Your Name)

How to write an investment banker cover letter

Before you begin writing, make sure you know how to write a cover letter in a way that makes you seem like the best candidate for the job.

Investment bankers typically work for investment banks, commercial banks, or securities firms, raising capital for their organisation or clients by issuing and selling securities.

A career in investment banking isn’t for everyone, though. Investment bankers must be able to think on their feet, manage multiple projects simultaneously, and make decisions under pressure.

So if you’re applying to an investment banking job, you’ll need to make a cover letter that highlights your industry-relevant experience and skills. Here are three cover letter writing tips to put you in the lead for that investment banking role:

1. Use the proper format for your investment banking cover letter

When you apply for an investment banking job, it’s essential to format your cover letter correctly. Your cover letter is usually the first part of your application a potential employer will read, so it’s important to make a good impression with professional formatting.

Here’s how to format your investment banking cover letter:

• Start with your contact information by including your name, address, phone number, and email address in a cover letter header
• Write the date you’re submitting your application (right-align the date if you’re making a cover letter from scratch or put it in the designated spot on your cover letter template )
• Include the contact person’s name and contact information in a left-aligned list
• Greet the contact person by name in a professional salutation like ‘Dear Mr Sanchez,’ (it’s typically best to avoid coming off as impersonal by using generic greetings such as ‘ Dear Sir or Madam ,’ and ‘ To Whom It May Concern ,’)
• Write 4–5 paragraphs explaining your reasons for applying
• End with a professional sign-off (‘Yours sincerely,’ for example)

Remember that your cover letter should be no more than one page long. If it’s too long, the bank’s recruiter may not bother reading it.

And be sure to proofread your cover letter carefully before sending it off — any spelling or grammar mistakes will reflect poorly on you. Try using a cover letter builder and CV maker that check your documents for errors to ensure you submit an error-free job application.

2. Lead with your most valuable investment banking skills and achievements

When it comes to writing an investment banking cover letter, the opening is key. You want to make sure that your cover letter instantly grabs the reader’s attention and gives them a reason to keep reading.

This is how to start your cover letter for an investment banking job:

• State why you’re interested in working for the investment banking firm : This can be something personal, such as how you’ve always been fascinated by the financial industry, or how you admire the company’s track record
• Highlight your most relevant qualifications and experience : If you’ve worked in finance before, or if you’ve got any particular skills or knowledge related to your target investment banking job, make sure to mention that here
• Explain what you can offer the investment banking team : A cover letter is an opportunity to sell your investment banker skills, so focus on what value you can bring to the organisation

Here’s an example of an opening paragraph from a job-winning investment banking cover letter:

3. Quantify your investment banking experience

Your investment banking cover letter is an important opportunity to demonstrate your quantitative skills. Hard numbers are the language of investment banking, and your cover letter is a chance to show that you can use them to make persuasive arguments.

So when you write your cover letter, focus on results rather than descriptions of your investment banking job duties. Include concrete details like percentage increases and dollar amounts. For instance, if you led a team that generated $10 million in new business, that’s the number you should highlight.

Here’s another example of how to quantify your experience in your investment banking cover letter:

For the past two years in my current role, I have successfully coordinated multiple multi-billion pound deals, including a private equity firm’s £3.5 billion acquisition of a public organisation. I’ve also reeled in 100+ new corporate clients , generating £20 million in revenue .

More CV & Cover Letter Examples:

• Accountancy CV
• Assistant Accountant CV
• Investment Banker CV
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• Accountancy Cover Letter
• Assistant Accountant Cover Letter
• Goldman Sachs Cover Letter
• Investment Banking Cover Letter
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Aaron Case is a CPRW & Senior Staff Writer at CV Genius with 8+ years of experience in writing and career resource spaces. Job seekers around the world and in various stages of their vocational journeys have landed fulfilling work thanks to his thoughtful career advice, which has also been showcased in publications like Forbes, MSN, CareerAddict, Ladders, Best Colleges, Ivy Exec, Capitalism.com, and vidIQ. Aaron has a BS in English & Communications from Liberty University bolstered by a professional credential from UC Berkeley. He’s collected practical experience while following various career paths, and he enjoys sharing the resulting insights with everyone. You can contact him through his LinkedIn profile or on Twitter. Please note, we don’t accept guest posts, and all such requests will be ignored.

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3 Investment Banking Cover Letter Examples Made in 2024 

• Investment Banking Cover Letter
• Investment Banking Internship Cover Letter
• Investment Banking Analyst Cover Letter
• Write Your Investment Banking Cover Letter

Identifying investment opportunities is where you shine. Risk and return profiles are identified, valuations are completed, and acquisitions are performed successfully with you on the job.

But have you invested enough time writing a cover letter that complements your investment banking resume and helps land your next job?

We’ll help you get started with our investment banking cover letter examples . They’ll provide an easy template for success and, when coupled with our AI cover letter generator, will ensure you stand out in this results-driven field.

Investment Banking Cover Letter Example

USE THIS TEMPLATE

Microsoft Word

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Block Format

Copy this text for your investment banking cover letter!

123 Fictional Avenue New Orleans, LA 70112 (123) 456-7890

October 01, 2023

Ethan Davis Capital One Securities 123 Fictional Lane New Orleans, LA 70112

Dear Mr. Davis:

As a fervent believer in the power of data-driven decision making in my professional career and personal investment endeavors, I spend my evenings studying financial market trends and identifying potential opportunities when I’m not engrossed in aiding clients in reaching their financial goals. Pairing my passion for finance with my keen understanding of various industry nuances, I am excited to join Capital One Securities as an investment banking associate.

During my tenure at UBS, I honed my expertise in data analysis, using advanced tools like Python and Excel to sort through vast amounts of information. I successfully identified vital investment opportunities that contributed to the growth and diversification of portfolios, thereby increasing the company’s average annual return on investment by 8.2%.

As a financial analyst at Valmiki 504, also based in New Orleans, I dove headfirst into financial statement analysis, scrutinizing balance sheets, cash flow, and income statements. Consequently, my analysis contributed to improvements in client portfolio performance, with a 6.7% increase in average annual returns.

Being involved in numerous Mergers and Acquisitions (M&A) deals as part of the strategic financial advisory team at Dorsey & Company, I implemented a systematic approach to risk analysis and valuations. My prowess in executing due diligence and navigating financial models was instrumental in securing successful deals for the advisors. Our team collectively increased completed M&A transactions by 9.4% during my time there, benefiting clients through synergistic growth.

I am eager to leverage my enthusiasm and skillset to augment Capital One Securities’ position at the forefront of the financial sector. I look forward to discussing how my expertise can contribute to the growth and continued success of Capital One Securities and its client base. Thank you.

Liam Andersen

Enclosures: Resume Application Academic Transcript

Why this cover letter works

• Follow this with a compelling narrative of relevant work experiences , backing up impacts made in previous workplaces using numbers, percentages, and revenues. Skills such as data analysis, financial statement and risk analysis, and software Python and Excel should suffice in your piece.

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Investment Banking Internship Cover Letter Example

Copy this text for your investment banking internship to your cover letter!

123 Fictional Avenue New York City, NY 10001 (123) 456-7890

Liam Harris JPMorgan Chase & Co. 123 Fictional Lane New York City, NY 10001

Dear Mr. Harris:

Influenced by the allure of the world of finance and its complex interplay of numbers, I spend my leisure hours tracking global economic indicators when I’m not thoroughly engrossed in my academic pursuit of finance. This fascination for finance and my keen interest in building personalized investment portfolios ignited my enthusiasm to be part of JPMorgan Chase & Co. as an investment banking valuation intern.

During my time at New York University, I honed my skills in Python to analyze complex financial datasets, proving instrumental to our team’s success in the annual Love Data Week competition. The models I developed contributed to us outperforming 52+ teams and winning by a margin of 3.2%.

As a research Intern at the NYU Stern School of Business, utilizing tools like Bloomberg Terminal and FactSet, I completed a research project on the impact of modern trade wars on international markets. The efforts culminated in a published paper that was well-received in academia.

Additionally, my coursework in statistical analysis spurred my interest in predicting financial trends. By employing these skills, I earned the second spot in the college’s annual forecast challenge, predicting S&P 500 performance with an accuracy level of 92.3%.

The idea of playing an indispensable part at the trailblazing vanguard of the finance industry exhilarates me to no end. I look forward to discussing my qualifications in detail at your earliest convenience. Thank you.

Zara Jafari

• Of course, the majority of your piece will focus on academic accomplishments. But don’t just highlight your technical know-how. Briefly narrate instances where you translated classroom knowledge into tangible impact during class projects, competitions, simulations, and possibly an internship or volunteer program.

Investment Banking Analyst Cover Letter Example

Copy this text for your investment banking analyst cover letter!

123 Fictional Avenue Memphis, TN 38101 (123) 456-7890

Ava Wilson First Horizon National Corporation 123 Fictional Lane Memphis, TN 38101

Dear Ms. Wilson:

Responding to First Horizon National Corporation’s compelling belief that creating new horizons is critical to client success, I am eager to join your dynamic team of innovators as your next investment banking analyst. Firmly believing in the heightened potential that emerges when diverse insights merge and align toward a shared financial goal, I welcome the opportunity to collaborate with your team of skilled analysts and finance experts.

One of my skills, Comparable Company Analysis (CCA), helped me carve a significant niche at Raymond James. By applying such in-depth analyses, I was able to implement strategies that led to an annual yield increase of 7.3% for our locally focused portfolios, demonstrating the power of well-applied industry knowledge. Moreover, proficiency in pitch book preparation has augmented my communicative prowess, allowing me to clearly convey complex financial narratives. This proficiency manifested in more than just words, driving a 16.4% growth in local investments by effectively showcasing our value propositions to Memphis clients.

My firm grasp of capital structure analysis further complements these core competencies. Using Bloomberg Terminal and FactSet, I dissected intricate financial data at NewSouth Capital Management, which eventually reduced client portfolios’ cost of capital by 14.7%.

As seen from my history of aiding Memphis-based organizations like Bluff City Coffee & Bakery and Medtronic, I am committed to building solid relationships and paving ways for clients to reach their long-term financial objectives seamlessly.

Inspired and motivated by First Horizon’s dedication to guiding its clients toward fruitful opportunities, I look forward to contributing to your mission. I appreciate your consideration and look forward to discussing how my experiences and skills could further bolster the growth of First Horizon National Corporation.

Nina Petrovic

• Go ahead and show off your professional arsenal (cue comparable company analysis, pitch book preparation, or capital structure analysis). Weaving in quantifiable wins, like an annual yield increase of 7.3%, anchors your credibility.

Related cover letter examples

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How to Format Investment Banking Cover Letter

When optimizing a client’s investment portfolio, you always ensure you account for their specific needs and financial situation to get them the best results. Take a similar approach to your investment banking cover letter. 

The job description will help you succeed here. It’ll outline the company’s mission and the top investment banking skills they’re looking for so you can include them in your cover letter to stand out.

For instance, you could explain how you’ll use your negotiation skills to help an automotive company continue expanding its market while achieving its goal of bringing fair vehicle prices to consumers.

Investment banking cover letter introduction

When meeting a client for the first time, you’d want to learn their name to instantly create a connection. You should do the same in your investment banking cover letter by trying to address a specific hiring manager by name, if you can find it in the job description or the company website.

Then, once you get into the opening paragraph, grab attention by referencing your passion for the company’s mission and the top skills they’re looking for, like financial modeling or using the Bloomberg Suite.

The example below will show you a cover letter that gets off to a good start but falls short when they don’t get into any specifics about the company’s investment banking needs.

Needs more details!

Dear Ms. Tyson,

I was pleased to see the investment banking opportunity your company has available. With my seven years of experience in the financial field, I believe I’ll be the right fit for your company’s needs.

An opener like the one below is a better option that relates directly to the applicant’s enthusiasm for First Horizon National Corporation’s dynamic and innovative investment banking team. 

A compelling and detailed opener!

Dear Ms. Wilson,

Investment banking cover letter body

Data is a crucial part of the decisions you make as an investment banker. It’s also pretty important to help you write a successful cover letter.

One of the best ways to optimize your body paragraphs is by sharing examples using metrics. For instance, you could explain how you used your market forecasting skills to help a portfolio of 125 clients grow their earnings by an average of 34% annually.

If you don’t have much work experience , you could also write about how your education in finance, accounting, or other related fields has equipped you for the role. For example, you could talk about how you analyzed statements of cash flows with 98% accuracy during your managerial accounting course.

A great body paragraph with data-driven performance!

Investment banking cover letter closing

After you wrap up a meeting with a client, you’d want to relate back to what you covered to ensure they’re up to speed on the next steps you’ll take when optimizing their investment portfolio. You should do the same with the closing of your cover letter by relating back to the essential job skills you emphasized, like private equity and market analysis, and how you connect with the company’s mission.

It’s also best practice to thank the hiring manager for their time and close with a light call to action like “I look forward to discussing the needs of this investment banking position with you further.”

The closer below doesn’t quite hit the mark since it’s missing the call to action or any specific details about the investment banking role.

Lacking impact with this one!

I believe my skills and experience will be of great value to your company’s growing investment banking needs. Thank you for taking the time to review my application.

Isaac Martens

A better closer is the one below that directly relates to Capital One Securities’ goal to grow in the financial sector and help its client base succeed. 

An impactful closer relating to the company’s mission! 

I am eager to leverage my enthusiasm and skillset to augment Capital One Securities’ position at the forefront of the financial sector. I look forward to discussing how my expertise can contribute to the growth and continued success of Capital One Securities and its client base. Thank you.

Sincerely, 

One page is the optimal length for investment banking cover letters. If you’re struggling to shorten it, try to focus on the primary needs of each job. For instance, if you’re applying to a commercial investment banking role, your M&A and equity research abilities may be essential to emphasize. 

Your investment banking cover letter should be customized for each job. It’ll help you stand out when applying to one company that works with high-yield bonds and another that specializes in structured financial management so you can present relevant skills for both. 

The best way to make job skills stand out is to include relevant ones to each company’s needs and share metrics-based examples of how you used them successfully in previous jobs. For instance, you could explain how you used S&P Capital IQ to help companies utilize their assets 54% more efficiently. 

Investment Banking cover letter examples

Investment banking is a competitive industry, and your cover letter is your chance to give context to your CV and stand out from the crowd.

But if you want to get noticed, you need to focus on showcasing your biggest achievements in the field, and we can help.

For top tips and writing advice you can bank on, check out our comprehensive guide and investment banking cover letter examples below.

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These Investment Banking cover letter examples provide you with some guidance and inspiration for writing a cover letter that gets noticed and ensures your CV will get opened.

But if you really want to master the art of writing a winning cover letter , then follow our step-by-step cove letter writing guide below.

How to write an Investment Banking cover letter

A simple step-by-step guide to writing your very own winning cover letter.

Write your cover letter in the body of an email/message

You should write your cover letter in the body of the email (or messaging system if sending via a job board) and never attach it as a document.

The reason for this?

You want your cover letter to start connecting with the recruiter from the moment they open your application.

If they have to open a document to read it, it will slow things down and they may not even bother to open it.

Start with a friendly greeting

To start building rapport with the recruiter or hiring manager right away, lead with a friendly greeting.

Try to strike a balance between professional and personable.

Go with something like…

• Hi [insert recruiter name]
• Hi [insert department/team name]

Stay away from old-fashioned greetings like “Dear sir/madam ” unless applying to very formal companies – they can come across as cold and robotic.

How to find the contact’s name?

Addressing the recruitment contact by name is an excellent way to start building a strong relationship. If it is not listed in the job advert, try to uncover it via these methods.

• Check out the company website and look at their  About page. If you see a hiring manager, HR person or internal recruiter, use their name. You could also try to figure out who would be your manager in the role and use their name.
• Head to LinkedIn , search for the company and scan through the list of employees. Most professionals are on LinkedIn these days, so this is a good bet.

Identify the role you are applying for

Once you have opened the cover letter with a warm greeting, you need to explain which role you are interested in.

Sometimes a recruitment consultant could be managing over 10 vacancies, so it’s crucial to pinpoint exactly which one you are interested in.

Highlight the department/area if possible and look for any reference numbers you can quote.

These are some examples you can add..

• I am interested in applying for the role of *Investment Banking position* with your company.
• I would like to apply for the role of Sales assistant (Ref: 40f57393)
• I would like to express my interest in the customer service vacancy within your retail department
• I saw your advert for an IT project manager on Reed and would like to apply for the role.

See also: CV examples – how to write a CV – CV profiles

Highlight your suitability

The main purpose of your cover letter is to excite recruiters and make them eager to open your CV. And you achieve this by quickly demonstrating your suitability to the job you are applying for.

Take a look at the job adverts you are applying for, and make note of the most important skills being asked for.

Then, when you write your cover letter, make your suitability the focal point.

Explain how you meet the candidate requirements fully, and why you are so well suited to carry out the job.

This will give recruiters all the encouragement they need to open your CV and consider your application.

Keep it short and sharp

It is best to keep your cover letter brief if you want to ensure you hold the attention of busy recruiters and hiring managers. A lengthy cover letter will probably not get read in full, so keep yours to around 3-6 sentences and save the real detail for your CV.

Remember the purpose of your cover letter is to quickly get recruiters to notice you and encourage them to open your CV, so it only needs to include the highlights of your experience.

Sign off professionally

To round of your CV, you should sign off with a professional signature.

This will give your cover letter a slick appearance and also give the recruiter all of the necessary contact information they need to get in touch with you.

The information to add should include:

• A friendly sign off – e.g. “Kindest regards”
• Your full name
• Phone number (one you can answer quickly)
• Email address
• Profession title
• Professional social network –  e.g. LinkedIn

Here is an example signature;

Warm regards,

Jill North IT Project Manager 078837437373 [email protected] LinkedIn

Quick tip: To save yourself from having to write your signature every time you send a job application, you can save it within your email drafts, or on a separate documents that you could copy in.

What to include in your Investment Banking cover letter

Here’s what kind of content you should include in your Investment Banking cover letter…

The exact info will obviously depend on your industry and experience level, but these are the essentials.

• Your relevant experience – Where have you worked and what type of jobs have you held?
• Your qualifications – Let recruiters know about your highest level of qualification to show them you have the credentials for the job.
• The impact you have made – Show how your actions have made a positive impact on previous employers; perhaps you’ve saved them money or helped them to acquire new customers?
• Your reasons for moving – Hiring managers will want to know why you are leaving your current or previous role, so give them a brief explanation.
• Your availability – When can you start a new job ? Recruiters will want to know how soon they can get you on board.

Don’t forget to tailor these points to the requirements of the job advert for best results.

Investment Banking cover letter templates

Copy and paste these Investment Banking cover letter templates to get a head start on your own.

I am writing to apply for the Investment Analyst position at CitiBank. With over 5 years of experience in financial analysis, valuation, and M&A transactions at Goldman Sachs and JPMorgan, I have honed my skills in creating financial models and conducting market research to deliver strategic advice and financial solutions to clients.

In my current role at Goldman Sachs, I manage a portfolio of over 50 clients with a total transactional asset value of £800million per annum. My in-depth understanding of the financial services industry has optimised business growth, resulting in a 30% client retention rate, surpassing company KPIs by 10%.

During my time at JPMorgan, I achieved investment returns of over 25% for clients by identifying undervalued commercial companies. Moreover, I improved productivity by 11% through the adaptation of the combined asset management database.

I am eager to bring my expertise in investment strategy, market research, and portfolio optimisation to CitiBank. I am available for an interview at your convenience and look forward to discussing how my skills can add value to your team.

Kind Regards,

Charlotte Froissant

I am writing to apply for the Asset Management Advisor role at JPMorgan. With a successful 20-year career as a Chartered Asset Management Advisor at leading UK banks like Morgan Stanley and Trex Bank, I possess the strategic acumen to manage a client portfolio worth over £40million.

Demonstrating my proficiency in client acquisition and revenue growth, I have grown my client portfolio by 15% in my first year at Trex Bank, generating £750K in profit for the company. In my current position, I have secured referral agreements with three third-party financial services companies, resulting in a remarkable 12% increase in local client interest. My ability to liaise with third-party organisations, combined with extensive professional networks in Madrid and New York, allows me to deliver personalised financial management plans effectively.

I am eager to discuss how my skills and achievements align with the requirements of JPMorgan. I am available for an interview at your convenience.

Stanley Dixon

I am delighted to apply for the Risk Manager position at Deutsche Bank. As a seasoned Risk Officer with 30 years of experience in the financial services sector, I have a proven track record of developing and implementing risk management strategies for leading UK commercial banks.

At Nationwide Building Society, I led the development of a liquidity risk management framework with a 92% success rate during the COVID-19 pandemic. Additionally, I successfully implemented a stress testing program at HSBC, enhancing the organisation’s ability to assess and manage credit risks during economic downturns. My expertise in enterprise risk management, regulatory compliance, and stakeholder engagement aligns well with the requirements of the role. Moreover, my MBA from LSE and Chartered Financial Analyst (CFA) qualification further strengthen my ability to effectively navigate complex financial landscapes.

I am enthusiastic about the opportunity to contribute my versatile set of skills to the risk management team at Deutsche Bank. I am available for an interview from next week and look forward to discussing how my experience can add value to your organisation.

Helena Sidmore

Writing an impressive cover letter is a crucial step in landing a job in Investment Banking, so taking the time to perfect it is well worth while.

By following the tips and examples above you will be able to create an eye-catching cover letter that will wow recruiters and ensure your CV gets read – leading to more job interviews for you.

Good luck with your job search!

Investment Banking Analyst Cover Letter Example

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Start your Investment Banking Analyst cover letter by addressing the hiring manager directly, if possible. Then, introduce yourself and briefly mention your current role or recent graduation. Make a connection between your career goals and the company's mission or recent projects. For example, "As a finance graduate with a passion for strategic investment, I was excited to see the opportunity at [Company Name]. Your recent work in [specific area] aligns with my career goals and I believe I could bring valuable insights to your team." This shows you've done your research and are genuinely interested in the company. Remember, the opening paragraph should grab the reader's attention and make them want to learn more about you.

The best way for Investment Banking Analysts to end a cover letter is by expressing gratitude for the reader's time and consideration, reiterating their interest in the role, and indicating their eagerness to further discuss their qualifications. A strong closing might be: "Thank you for considering my application. I am highly interested in the opportunity to contribute to your team and am confident that my skills and experiences align well with your needs. I look forward to the possibility of discussing my application with you further." This ending is professional, respectful, and shows enthusiasm for the role, which is important in the competitive field of investment banking.

Investment Banking Analysts should include the following key elements in their cover letter: 1. Contact Information: Start with your name, address, phone number, and email address at the top of the letter. 2. Professional Greeting: Address the hiring manager by name if possible. If not, use a professional greeting such as "Dear Hiring Manager". 3. Introduction: Briefly introduce yourself and mention the position you're applying for. You can also mention how you heard about the job opening. 4. Relevant Skills and Experience: Highlight your skills and experiences that are relevant to the job description. As an Investment Banking Analyst, you should focus on your analytical skills, financial modeling, valuation, industry research, and your ability to work in a fast-paced, high-pressure environment. 5. Achievements: Mention any significant achievements in your current or previous roles that demonstrate your capabilities as an Investment Banking Analyst. This could include successful deals you've worked on, projects you've led, or any recognition you've received for your work. 6. Knowledge about the Company: Show that you've done your research about the company and express why you're interested in working there. This could include mentioning specific deals the company has worked on, its culture, or its growth strategy. 7. Closing Paragraph: Reiterate your interest in the role and the value you can bring to the company. Thank the hiring manager for considering your application and express your interest in discussing your qualifications further in an interview. 8. Professional Closing: End the letter with a professional closing such as "Sincerely" or "Best regards", followed by your name. Remember, your cover letter should complement your resume, not repeat it. It's your chance to provide a narrative about your experiences and skills, and to show your enthusiasm for the role and the company.

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Investment Banking Cover Letter Template

Free cover letter template to help you break into Investment Banking (IB)

Mr. Arora is an experienced private equity investment professional, with experience working across multiple markets. Rohan has a focus in particular on consumer and business services transactions and operational growth. Rohan has also worked at Evercore, where he also spent time in private equity advisory.

Rohan holds a BA (Hons., Scholar) in Economics and Management from Oxford University.

Chris currently works as an investment associate with Ascension Ventures, a strategic healthcare venture fund that invests on behalf of thirteen of the nation's leading health systems with $88 billion in combined operating revenue. Previously, Chris served as an investment analyst with New Holland Capital, a hedge fund-of-funds  asset management  firm with $20 billion under management, and as an investment banking analyst in  SunTrust Robinson Humphrey 's Financial Sponsor Group.

Chris graduated Magna Cum Laude from the University of Florida with a Bachelor of Arts in Economics and earned a Master of Finance (MSF) from the Olin School of Business at Washington University in St. Louis.

• Investment Banking Cover Letter Template: Advice From The WSO Community

Why Do Cover Letters Matter?

• Less Is More For Cover Letters

The Hail Mary Cover Letter

• WSO Cover Letter Template

Attached at the bottom of this post is the FREE investment banking cover letter template that is sometimes used for WSO cover letter review clients.

We have decided to make it free to help those of you that can't afford a more tailored service .

This cover letter template uses bullets to keep the points succinct and format easy to read .

You'll also notice that the header matches the WSO  investment banking resume template format.

Investment Banking Cover Letter Template: Advice from the WSO Community

Here's what you need to know about the IB cover letters from our community.

CompBanker: The cover letter holds almost no weight, other than to put you at risk for being dinged. Make it very simple, very bland, and just say all the usual things. If you have mistakes in it or make outrageous claims, your cover letter will be circulated and laughed at.

Like @CompBanker said, you won't get the interview with your cover letter .

Your goal for the cover letter isn't to single-handedly land you an interview with your eloquence and grandiose; it's to check the box and make sure it's proper enough that it doesn't get you dinged .

The Only Program You Need to Land in High Finance Careers

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Less Is More for Cover Letters

Our users shared great input on why 'less is more' when it comes to cover letters.

bkm125: What you really want people to be looking at is the resume. The longer your cover letter is the larger the chance that you'll have a typo or say something stupid. Just tell them what job you're applying for, who you've been in touch with at the firm, and maybe a few sentences about your qualifications and lock up the deal with a solid resume.

K.I.S.S: Keep It Simple Stupid.

Mention who you've talked to at the firm , your interest in the job, your qualifications , and briefly (very briefly) explain any gaps in your resume .

Avoid excuses , more on this later.

Two or three paragraphs is all you need for that. Any more than that , and you're giving them potential reasons to ding you .

Here's some great advice from @blackice".

blackice: The best thing you can do is name drop people you have talked to. That way I know you have done your homework, and I can ask the person you talked to how your chat was. I think cover letters are better when they are focused on your past work experience as opposed to general and arbitrary sentiments about how you are a "hard worker and team player with a strict attention to detail".

If you've talked to someone at the firm and they'd remember you, DO namedrop them in your cover letter.

Common Cover Letter Mistakes

Here are some of the usual mistakes candidates make in their cover letter as mentioned by our member @qonnect.me.

This is an example of an excuse in a cover letter:

"I realize I have more professional experience in technology than in finance. I believe that was just due to bad luck due to graduating from my MBA program at the height of the 'Great Recession '. However, I am 100% committed and motivated to prove myself in a finance position."

Bad luck? No, it's the shitty and difficult-to-read resume , cover letter , and 'research reports' that are the issue .

What goes on in the recruiters head: I'm almost certain you would be a terrible employee just by the quality of the work you sent me in a cold email . You graduated from college 10 years ago, by the way. I remember at least a few of those as being pretty good years. If you were halfway decent, you could have squeaked in the industry in more than a few of those years.

Please do not pin all of your circumstance on luck , especially in a cover letter .

Even if the reader is a big believer in luck , you're telling him you're unlucky .

Who wants to hire someone who's unlucky? It seems the bad luck streak started in utero, if you ask us.

Revealing Your Ignorance:

Even worse than just plain ignorance, is the below quote from an attached research report that a candidate had written. Since he thought it was worth including, I assume the report was something he was proud of, but it was cringe-worthy.

"I am placing a STRONG BUY recommendation on [company]. ("ticker") and believe that [the company], at the current price of $10.00, trades at a 123% discount to my estimated fair market value of $22.30" (Both made up numbers to scale to the actual numbers listed in the 'report')

The report should have never been attached .

It made a weak applicant look even worse . He's clearly never done anything but 'book learn' on these subjects. It's painfully obvious by reading the report. He uses four valuation methodologies on the stock with the sole intention of showing that he knows more than one valuation method .

If you're thinking of including a research report on a company when you're cold emailing people, it's a high-risk strategy. Your research probably sucks unless you've been doing it professionally. If there is any doubt at all about including a 'research report', do not do it.

Side note: The research report had a lot of opinions and not a lot of facts, and it lacked connections between really basic facts about the current state of the business to the 'projections'.

If you don't think you have a chance to get the job, you can toss a Hail Mary with your cover letter .

Here's a cover letter an audacious undergrad used in an effort to stand out and grab the attention of its reader .

A big swing that's either a hit or miss . We don't recommend using this cover letter unless you lack the slightest chance of getting the interview in the first place.

Dear BLOCKED, My name is (BLOCKED), and I am an undergraduate finance student at (BLOCKED). I met you the summer before last at Smith & Wollensky's in New York when I was touring the east coast with my uncle, (BLOCKED). I just wanted to thank you for taking the time to talk with me that night. I am writing to inquire about a possible summer internship in your office. I am aware it is highly unusual for undergraduates from average universities like (BLOCKED) to intern at (BLOCKED), but nevertheless, I was hoping you might make an exception. I am extremely interested in investment banking and would love nothing more than to learn under your tutelage. I have no qualms about fetching coffee, shining shoes, or picking up laundry, and will work for next to nothing. In all honesty, I just want to be around professionals in the industry and gain as much knowledge as I can. I won't waste your time inflating my credentials, throwing around exaggerated job titles, or feeding you a line of crap (sic) about how my past experiences and skill set align perfectly for an investment banking internship . The truth is I have no unbelievably special skills or genius eccentricities, but I do have a near perfect GPA and will work hard for you. I've interned for Merrill Lynch in the Wealth Management Division and taken an investment banking class at (BLOCKED), for whatever that is worth. I am currently awaiting admission results for (BLOCKED) Masters of Science in Accountancy program, which I would begin this fall if admitted. I am also planning on attending law school after my master's program, which we spoke about in New York. I apologize for the blunt nature of my letter, but I hope you seriously consider taking me under your wing this summer. I have attached my resume for your review. Feel free to call me at (BLOCKED) or email at (BLOCKED). Thank you for your time. Sincerely, BLOCKED.

Interested in Investment Banking - Breaking In

If you want to break into investment banking, you need to be well-prepared for the technical aspects of the interview. We advise you to check out our  Free Investment Banking Interview Guide  first, before investing in  our paid course , so that you have an idea of what to expect.

Two common mistakes that candidates make while recruiting for IB: 

• Using phrasing like "After my summer analyst stint, I learned the entire deal execution process...", "I am extremely proficient in Excel and financial modeling ...", etc. You get the idea. Be confident, but don't over-emphasize anything out of the scope of your ability to speak to it.
• Not enough emphasis on teamwork. This is important. People should know that you are able to work with others. This is easy to incorporate, just give a brief two sentence overview of what your team structure was and why it made sense.

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Click here to see the Investment Banking Cover Letter sample.

Is a cover letter essential to get an investment banking job?

If you want to set yourself apart from other candidates, then absolutely it's important.

Recruiters get tons of applications in prestigious investment farms like Deutsche bank, Credit Suisse, and Goldman Sachs. And they don't always have time to read through all job applications.

A cover letter can help you sell your skills to the recruiter in these scenarios. It becomes more important if you are applying to big MNC companies like Mckinsey, JP Morgan, etc.

Table of Content:

• Why cover letter for investment banking is essential?
• Step-by-step guide to writing an investment banking cover letter?
• Investment banking cover letter Template

What Does an Investment Banker Do?

An investment banker is a financial professional who helps businesses and individuals raise capital by issuing debt and selling equity. Investment bankers also help clients manage their funds, plan for future growth, and make strategic decisions about how to allocate their time, money, and resources between investments.

The role of an investment banker differs depending on the type of firm they work for: independent firms focus on raising capital for clients; commercial banks focus on lending money to small businesses; public equity markets (e.g., NASDAQ) are venues for trading stocks in publicly-traded companies; venture capitalists invest in startup companies; private equity funds buy companies outright and take them public later on.

Here are some responsibilities of an investment banker:

• Research financial trends and identify useful information regarding investments
• Manage debt and trade equity to maximize capital
• Deploy financial models to calculate & maximize financial profitablity
• Oversee the mergers and acquisitions of assets and companies
• Oversee the legal part of the expansion of personal and corporate assets
• Prepare and maintain financial records for investments and acquisitions.
• Identify investment opportunities and neotiate better offers

Why Cover Letter for Investment Banking Matters?

A cover letter may seem unnecessary in the investment banking job since the recruiters hardly get time to read the resumes.

However, when the recruiter sees a candidate's job application, they are happy to see cover letters along with a resume since it gives them a holistic view of the candidate.

You must make it worthwhile to read if you're writing a cover letter.

Most employers quickly glance through the cover letters and go on to reading the resume; however, It's essential to attach a cover letter, especially if:

Job Application in Smaller Bank Sectors : Small banks usually get fewer candidates. And hiring managers spend more time reading the resume and cover letters before selecting candidates.

Change in Career : If you are changing the industry or have a career gap, it's essential to write a cover letter explaining your career decisions.

Application for Foreign Jobs : If you are applying for a job in a foreign country, it's better to add an investment banking cover letter to state why you're interested in the job.

Unfortunately, a cover letter is also where candidates make most of the mistakes. So, keep the investment banking cover letter short and straightforward.

Step by Step Template To Write an Investment Banking Cover Letter

Here's a step-by-step guide on how to write an investment banking cover letter:

Investment Banking Cover Letter Format

How a cover letter looks is a big part of your job application. So, pay some serious attention to the cover letter format to ensure it's professional and easy to read.

Here are some tips for formatting the investment cover letter correctly:

• Write the cover letter heading clearly and state your contact information and residential location here.
• Divide the cover letter body into 3 parts .
• Keep a 1-inch margin on all sides of the cover letter.
• Write the cover letter in a professional font such as Arial, Times New Roman, Calibri , etc.
• Keep the cover letter on one page and ensure it doesn't exceed 600-700 words .
• Left align all parts of the cover letter and send the cover letter to the recruiter in PDF format.

Also Read : How long should a cover letter be?

Investment Banking Cover Letter Salutation

Always address the investment banking cover letter with "Dear [hiring manager name]".

If you don't have the hiring manager's name, you can still address the cover letter.

Use the information found in the job description to customize the greeting.

“Dear Investment Banking Manager” “Dear Banking Director”

Even if you can't find those information, you can use a generic cover letter salutation. Such as:

“Dear Hiring Manager,” “Dear Human Resources Team,” "To Whom It May Concern"

Also Read : How to address a cover letter without name?

Investment Banking Cover Letter Heading

The investment banking cover letter header is the first thing a recruiter will see in your cover letter.

So, make sure to add all essential information in this section. For instance:

• Contact Information/Email-ID
• Residential location

See the Investment Banking Cover Letter Example Heading:

Also Read : How to Draft a Professional Cover Letter Heading

Investment Banking Cover Letter Introduction

This is the best place to explain who you are and how did you find the job post.

Use this opportunity to grab the recruiter's attention by highlighting your experience, certification, brand names, etc.

• Been a part of a prestigious university: Mention it in the introduction
• Worked with well-known companies/clients? You can mention that in the introduction section as well
• Did anyone refer you to the job: Start the cover letter with their names and how did you meet them

Example of Investment Banking Cover Letter Introduction:

"I'm extremely elated to apply for the Investment Banking Analyst position at Goldman Sachs. Recently at a networking event, I met Janna Lawrance from Goldman Sachs and she referred me to this job opportunity. I believe with my skills and 2+ years of experience as a Wealth Management Analyst at UBS, I'm the right candidate for the job."

Investment Banking Cover Letter Paragraph 2: Your Background

After you hook the recruiters, the next step is to tell them about your background and accomplishments.

Scan through your CV and identify the relevant experience and skills you have that are required to become a successful investment banker.

If you have multiple experiences, do not list all experiences; focus on 1-2 experiences where you had the most contributions and write about those.

Once again, if you worked with a big brand, don't shy away from name-dropping.

Pro Tip: Scan through the job descriptions carefully and identify the skills required for the job. Highlight those skills in the cover letter. For instance: teamwork, resourcefulness, leadership, analytical skills, etc.

Also, don't forget to add statistics to highlight your achievements,

Investment Banking Cover Letter Example: Paragraph 2:

"In my last stint as a wealth management analyst at UBS, I have developed leadership skills by leading a team of 3 interns to analyze investment opportunities and create financial predictions for assets. I also got the chance to work with big clients like BCG Deutsche Bank and managed a $2M portfolio while generating a 20% return on Q3 last year. In my previous stint as an Investment analyst intern at City Corporate bank, I worked directly with clients and provided excellent customer service to them. Additionally, I assisted in analyzing financial statements for the organization, fostered investment recommendations, and increased quarterly profit by 23%."

Investment Banking Cover Letter Paragraph 3: Why You're a Good Fit

After you share your skills and accomplishments in the 2nd paragraph of the cover letter, it's time to link your experience and skills to the position and show them why you're the right candidate for the job.

Investment Banking Cover Letter Example: Paragraph 3

I admire the relentless commitment Goldman Sachs has displayed over the years in consistently providing high-value and stalwart client services. I've witnessed the collaborative culture of Goldman Sachs that encourages teamwork, collaboration, and growth and it has been nothing but inspiring. I believe my background in finance and wealth management and my ability to work well with a team make me a perfect fit for your organization.

Investment Banking Cover Letter Paragraph 4: CTA

This is the last section of your cover letter. In this section, you should thank the recruiter for their time, remind them about the investment banking resume enclosure and provide your contact information to promote them set interview with you.

Investment Banking Cover Letter Example: Call to Action

Enclosed for your consideration is my resume. I'd appreciate the opportunity to further discuss my suitability and qualifications with you on call or in person. I am available at (415) 123 4232 or [email protected] . Sincerely, John Doe Enclosure: Resume

Also Read : How to end a cover letter in 2022?

Investment Banking Cover Letter Writing Tips

The responsibilities of an investment banker are enormous, from business analysis to financial planning, to communicating with clients to raise funds, etc.

So, you need to effectively show all your experiences to the recruiter through the cover letter.

Given below are some tips to write the investment banking cover letter effectively:

Add Relevant Skills

Read the investment banking job description carefully and identify the relevant skills that are asked of the candidates.

Try to add these skills in the cover letter for recruiters to read. Apart from that, try to highlight your soft skills in the cover letter in addition to your core competencies.

Given below are some soft skills you can add to your cover letter:

• Time management
• Organizational skills
• Critical thinking
• Problem-solving
• Project management
• Adaptability
• Communication

Along with the soft skills, you need to add some of your technical skills. For example:

• ERP software : SAP, Oracle Hyperion
• Risk analysis software : SAS, Portfolio analysis software, SunGard Financial Systems AddVantage
• Project management : Trello, Jira,

Open the Investment Banking Cover Letter with A Steller Introduction

An investment banker’s work is fast-paced and competitive. So, you need to show the recruiters that you have the ability and work ethic to work in a fast-paced environment.

So, write the introduction so that it captivates the reader’s attention the recruiter gets interested in reading your resume.

Here are some tips for writing an impressive introduction for an investment banking cover letter:

• Explain why do you want to work with the company and show your passion through the cover letter
• Start the introduction with your years of experience, certifications, or achievements

For example : “ Increased sales by 16% year on year by optimizing the sales process thorough research and analysis.”

Quantify Achievements in Cover Letter

Numbers speak louder than words.

The recruiters are not looking to learn your responsibilities. They are looking for proof that you brought excellent results in your past organization that you can replicate in your future organizations.

So, try to quantify your achievement and experiences in the investment banker cover letter.

Example :“Trained 10+ interns on preparing investment presentations and financial documentation.”

Investment Banking Cover Letter Template

Frequently asked questions.

Q. Do we have to create a separate cover letter if applying for a job through email?

The simple answer to this question is to use your cover letter body as the email body in the job application email.

Don't bother creating a separate cover letter to attach to the application.

Q. Does Goldman Sachs want cover letters?

According to an interview of a Goldman Sachs recruiter, Goldman Sachs does not only require a cover letter, but all the cover letters and resumes go through an extensive screening process by human recruiters before a candidate is shortlisted for an interview.

The interview also said that most candidates have excellent resumes, but they had poorly written cover letters, which got them rejected.

Key Takeaways

Here are a few things you need to remember before creating an investment banking cover letter:

• Make sure the formatting of the cover letter is professional and easy to read
• Always address the cover letter by the hiring manager's name.
• Read the job description carefully before creating the cover letter
• Break the ice in the first paragraph by telling the recruiter how you find the job post
• In paragraph 2, highlight your skills and accomplishments
• Talk about why you think you are the right fit for the job in the 3rd paragraph
• Add a call to action at the end of the cover letter to promote recruiters to set up interviews with you

Looking to create an investment banking cover letter for yourself?

Go to Hiration Cover Letter Builder and choose from 20+ designs to make your cover letter.

It has 24x7 chat support for all your career-related queries, from resume and cover letter writing to interview preparations.

Drop a mail at [email protected] with all your queries related to investment banking cover letter.

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Professional Investment Banking Associate Cover Letter Examples for 2024

Your investment banking associate cover letter must immediately convey your proficiency in financial modeling and quantitative analysis. Highlight your experience with concrete examples of previous deals or projects you've executed. Demonstrate your ability to thrive in a fast-paced environment and your exceptional attention to detail. Your cover letter should reflect an understanding of current market trends and a commitment to continuous learning in the field.

Cover Letter Guide

Investment Banking Associate Cover Letter Sample

Cover Letter Format

Cover Letter Salutation

Cover Letter Introduction

Cover Letter Body

Cover Letter Closing

No Experience Investment Banking Associate Cover Letter

Key Takeaways

Embarking on your investment banking associate journey, you've polished your resume and started job applications, only to encounter the pivotal requirement: a compelling cover letter. The challenge? Crafting an engaging narrative that showcases your proudest professional moment, without echoing your resume. Striking a balance between formality and originality, steer clear of clichés and keep it concise—one page to make a lasting impression. Let's dive into creating a cover letter that resonates with hiring managers.

• Writing the essential investment banking associate cover letter sections: balancing your professionalism and personality;
• Mixing storytelling, your unique skill set, and your greatest achievement;
• Providing relevant (and interesting) information with your investment banking associate cover letter, despite your lack of professional experience;
• Finding the perfect format for your[ investment banking associate cover letter, using templates from industry experts.

Leverage the power of Enhancv's AI: upload your resume and our platform will map out how your investment banking associate cover letter should look, in mere moments.

If the investment banking associate isn't exactly the one you're looking for we have a plethora of cover letter examples for jobs like this one:

• Investment Banking Associate resume guide and example
• Tax Accountant cover letter example
• CPA cover letter example
• Junior Financial Analyst cover letter example
• Phone Banking cover letter example
• Accounts Clerk cover letter example
• Oracle Project Accounting cover letter example
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• Deloitte cover letter example

Investment Banking Associate cover letter example

Payton Webster

Los Angeles, California

+1-(234)-555-1234

[email protected]

• Demonstrating relevant experience: The cover letter successfully highlights the candidate's experience in technology M&A, which is directly applicable to the role being applied for. This shows the hiring manager that the candidate has experience in the same field and with transactions of similar scope and complexity.
• Quantifiable achievements: By mentioning a specific deal and the subsequent 20% increase in post-merger valuation assessments, the candidate provides concrete evidence of their ability to add value and achieve results, showing that they are result-oriented and possess solid analytical skills.
• Customization to the firm: The cover letter is tailored to the hiring firm, with references to their recent achievements and transactions, which indicates that the candidate has done their homework and is genuinely interested in the company's specific work and success.

Standard formatting for your investment banking associate cover letter

Structure your investment banking associate cover letter, following industry-leading advice, to include:

• Header - with your name, the role you're applying for, the date, and contact details;
• Greeting - make sure it's personalized to the organization;
• Introduction paragraph - no more than two sentences;
• Body paragraph - answering why you're the best candidate for the role;
• Closing paragraph - ending with a promise or a call to action;
• Signature - now that's optional.

Set up your investment banking associate cover letter for success with our templates that are all single-spaced and have a one-inch margin all around.

Use the same font for your investment banking associate cover as the one in your resume (remember to select a modern, Applicant Tracker System or ATS favorites, like Raleway, Volkhov, or Chivo instead of the worn-out Times New Roman).

Speaking of the ATS, did you know that it doesn't scan or assess your cover letter? This document is solely for the recruiters.

Our builder allows you to export your investment banking associate cover letter in the best format out there: that is, PDF (this format keeps your information intact).

The top sections on a investment banking associate cover letter

Header: Include your contact information, date, and the employer's contact details at the top of the cover letter because this establishes a professional appearance and ensures your application can be easily referenced and responded to by the banking recruiter.

Opening Greeting: Address the cover letter to a specific person, such as the hiring manager, using their name and title if possible to show that you've done your homework and are genuinely interested in the position at their investment bank.

Introduction: Start with a compelling opening paragraph that outlines your understanding of the investment banking sector and your enthusiasm for the role, as this sets the tone and shows your passion for the industry right from the beginning.

Experience and Skills Body: Outline your relevant past experience in finance, notable transactions you may have been involved in, and specific analytical and interpersonal skills that align with what is sought in an investment banking associate, to immediately showcase your suitability for the role.

Closing and Call to Action: Conclude by reiterating your interest in the position, thanking the reader for considering your application, and indicating your desire for a personal interview to discuss how you can contribute to their investment banking team, which can help motivate the recruiter to move you to the next stage.

Key qualities recruiters search for in a candidate’s cover letter

• Strong financial modeling and analytical skills: Essential for evaluating financial statements, building valuation models and making data-driven recommendations.
• M&A experience: Direct involvement in mergers and acquisitions signals the ability to navigate complex transactions and understand deal dynamics.
• Robust deal execution capabilities: A history of successfully managing and closing deals showcases an understanding of the due diligence process, transaction structuring, and negotiation tactics.
• Excellent communication and presentation abilities: Required for effectively conveying complex financial concepts to clients and stakeholders and for crafting persuasive investment pitches.
• Deep understanding of industry-specific trends: Knowledge in specific sectors relevant to the investment bank shows the ability to provide specialized advice and identify sector-specific opportunities.
• Strong work ethic and resilience: Investment banking is known for its demanding environment, so demonstrated endurance in high-pressure situations is key.

How to greet recruiters in your investment banking associate cover letter salutation

As the saying goes, "You never get a second chance to make a first impression."

Write your investment banking associate cover letter salutation to be more personalized to the actual hiring manager, who is set to assess your profile by:

• greeting them on a first-name basis, if you have previously communicated with them (e.g. "Dear Sam,");
• using their last name, if you have more formal communication or haven't spoken to them (e.g. "Dear Mr. Harrows" or "Dear Ms. Marshall");
• writing "Dear HR Team" or "Dear Hiring Manager", if you have no clue about who's recruiting for the role.

Search on LinkedIn, Google, or the company website to find information as to the recruiter's name.

In any case, avoid the impersonal "Dear Sir or Madam".

List of salutations you can use

• Dear Hiring Manager,
• Dear [Insert Name of Hiring Manager],
• Dear Mr./Ms. [Insert Last Name],
• Dear Members of the Selection Committee,
• Dear Investment Banking Team,
• Dear [Insert Name of Investment Bank] Recruitment Team,

Your investment banking associate cover letter intro: showing your interest in the role

On to the actual content of your investment banking associate cover letter and the introductory paragraph .

The intro should be no more than two sentences long and presents you in the best light possible.

Use your investment banking associate cover letter introduction to prove exactly what interests you in the role or organization. Is it the:

• Company culture;
• Growth opportunities;
• Projects and awards the team worked on/won in the past year;
• Specific technologies the department uses.

When writing your investment banking associate cover letter intro, be precise and sound enthusiastic about the role.

Your introduction should hint to recruiters that you're excited about the opportunity and that you possess an array of soft skills, e.g. motivation, determination, work ethic, etc.

What to write in the body of your investment banking associate cover letter

Now that you've got your intro covered, here comes the heart and soul of your investment banking associate cover letter.

It's time to write the middle or body paragraphs . This is the space where you talk about your relevant talent in terms of hard skills (or technologies) and soft (or people and communication) skills.

Keep in mind that the cover letter has a different purpose from your investment banking associate resume.

Yes, you still have to be able to show recruiters what makes your experience unique (and applicable) to the role.

But, instead of just listing skills, aim to tell a story of your one, greatest accomplishment.

Select your achievement that:

• covers job-crucial skills;
• can be measured with tangible metrics;
• shows you in the best light.

Use the next three to six paragraphs to detail what this success has taught you, and also to sell your profile.

Closing paragraph basics: choose between a promise and a call to action

You've done all the hard work - congratulations! You've almost reached the end of your investment banking associate cover letter .

But how do you ensure recruiters, who have read your application this far, remember you?

Most investment banking associate professionals end their cover letter with a promise - hinting at their potential and what they plan on achieving if they're hired.

Another option would be to include a call for follow-up, where you remind recruiters that you're very interested in the opportunity (and look forward to hearing from them, soon).

Choose to close your investment banking associate cover letter in the way that best fits your personality.

Addressing limited to no experience in the investment banking associate cover letter

There's nothing to worry about if you lack professional experience .

Your investment banking associate cover letter could bridge the gaps in your professional history by focusing on what matters most to recruiters, that's either:

• skills - focusing on transferable ones you've gained, thanks to your life experience (e.g. volunteering, certificates, etc.);
• achievements - select the most relevant and noteworthy one from your history (e.g. education, projects, etc.);
• motivation - describe how you envision your professional growth in the next up to five years, thanks to this opportunity.

Key takeaways

We hope this investment banking associate cover letter writing guide has shown you how to:

• Format your investment banking associate cover letter with the mandatory sections (e.g. header, greeting, intro, body, and closing) and select the right font (P.S. It should be the same as the one you've used for your resume);
• Substitute your lack of professional experience with your most noteworthy achievement, outside of work, or your dreams and passions;
• Ensure recruiters have a more personalized experience by tailoring your cover letter not just to the role, but to them (e.g. writing their first/last name in the salutation, etc.);
• Introducing your biggest achievement and the skills it has taught you in your investment banking associate cover letter body;
• Write no more than two sentences in your investment banking associate cover letter introduction to set the right tone from the get-go.

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• Content tailored to the job posting you're applying for
• ChatGPT model specifically trained by Enhancv
• Lightning-fast responses

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• Cover Letter Examples

Investment Banking Cover Letter—Sample & Templates

You can raise money in capital markets and drive mergers that bond at the atomic level. Use this investment banking cover letter sample to get your job search in bull territory.

This investment banking cover letter sample will leverage you to “hired.”

Why does it work so well?

It’s quick, clean, and it draws eyeballs like an exponential earnings graph.

It grabs the reader with one key fact, then keeps them reading while you sell your highlights.

Do it well, and you’ll come off like Ken Gryphon or Jamie Dimon.

In this article, you’ll get:

• Two sample investment banking cover letters: one for experienced and one for entry-level investment banking jobs.
• Steps to write a Goldman Sachs-level cover letter for investment banking.
• A template for investment banking cover letters with massive ROI.

Save hours of work and get a cover letter like this. Pick a template, fill it in. Quick and easy. Choose from 18+ cover letter templates and download your cover letter now.

Create your cover letter now

What users say about ResumeLab:

I had an interview yesterday and the first thing they said on the phone was: “Wow! I love your cover letter.” Patrick I love the variety of templates. Good job guys, keep up the good work! Dylan  My previous cover letter was really weak and I used to spend hours adjusting it in Word. Now, I can introduce any changes within minutes. Absolutely wonderful! George

Let’s start with two great cover letter examples for investment banking jobs:

1. Investment Banking Cover Letter Examples

Meet Thomas.

He’s an unemployed investment banker. He’s got Scrooge McDuck-sized piles of experience.

He just stayed up ‘til 3 am, staring at the job boards. And—

He found a great job with the full package—flex time, benefits, the works.

He’ll get in the Morgan Stanley-zone with this investment banking cover letter sample:

Example #1: Experienced Investment Banking Candidate

Looking for other cover letter examples for positions in accounting and finances? See:

• Accounting Cover Letter
• Bank Teller Cover Letter
• Business Analyst Cover Letter
• Finance Cover Letter
• Financial Analyst Cover Letter

Haven't found what you're looking for? Check all our  Good Cover Letter Examples.

Text version

Investment Banking Analyst

40 Goodramgate

[email protected]

07863 998 352

linkedin.com/thomaszmay

General Manager

Silver Grass Investments

14 Tadcaster Rd

Dear Ms. Nava,

Facilitating the £3.5B acquisition of a publicly-traded company was hard work and a big achievement. It's one of the key reasons I'm applying for your investment banking analyst position at Silver Grass Investments. Your commitment and success in growing client wealth is well-known in the field and fits my passions.

I know from your ad that you're seeking an investment banking professional skilled in financial modelling, collaboration, and building strong networks. I think these accomplishments will put me in the picture:

• Financial Modelling:  Used financial modelling to uncover that a major client was 20% undervalued in a buy-side deal.
• Collaboration:  Collaborated with deal team to facilitate £3.5B acquisition.
• Network-building:   Built network of 50+ highly trusted contacts, both internal and external.

I'd love to speak with you soon about how my transactional experience and skills in qualitative analysis can help SGI meet its goal of value creation driven by operational and strategic discipline.

Best Regards,

Thomas May, Investment Banking Analyst

PS—I can also provide insights on how my pitching strategy resulted in 33% signup from 20+ multinational companies.

With that sample cover letter for investment banking jobs, Thomas looks like a 1000% bull run.

“Aargh! I can’t boast like that without lying!’

Don’t worry.

An investment banking cover letter with no experience just needs a different approach.

It just so happens, SGI also needs an entry-level investment banking pro.

A recent graduate and hopeful job seeker named Alice Strock just stumbled across their job posting.

She’s fresh out of uni and still wet behind the ears. But she really wants to work for SGI.

This sample cover letter for an investment banking position drops the team leader’s jaw:

Example #2: Entry-Level Investment Banking Cover Letter Sample

Alice Strock

07072 734 449

[email protected]

linkedin.com/in/alicezstrock

I'm thrilled you're looking for an entry-level investment banking analyst at Silver Grass Investments. During my summer internship at Goldman Sachs, I identified a £10M deal, then facilitated its LBO. That was thrilling, but a full-time position at SGI would let me grow my already robust skills.

I know SGI is looking for an investment banking analyst skilled in analysing statements and performing due diligence. At Goldman Sachs, my statement analyses allowed the team to restore £7.2M in profits to a client whose revenue had flatlined. I also optimised the due diligence process for an LBO of £5M.

I'd be excited to connect with you about this opportunity, to share how my skills in MATLAB and Excel-based portfolio analysis can help.

Alice Strock, Investment Banking Analyst

Alice shows her assets with that investment banking cover letter sample.

But—your CV is critical. See our guide: Investment Banking CV Sample & Guide

2. How to Write a Cover Letter for Investment Banking Jobs Step by Step (Template)

Let’s get you a Ray Dalio-level investment banking cover letter.

Here’s how to write a cover letter for investment banking jobs:

1. Start With the Best Investment Banking Cover Letter Format

A hasty pitch will get you nowhere.

Pay the same attention to your cover letter format as you would a major pitch.

Here’s how to format an investment banking cover letter:

• Use the 3-paragraph layout—with bullet points or without.
• Set your margins at one inch.
• Left-align all parts of your cover letter and single-space your lines.
• Write a 1-page cover letter.
• Use the same cover letter font in your CV.

Expert Hint:  The Best Book on Investment Banking Careers says cover letters are a necessary evil. You need one, but unless it’s brilliant the hiring team won’t read it. But—if they spot a typo in it or poor writing quality, you could lose the interview. Proofread!

2. List the Right Contact Info in Your Cover Letter Heading

You don’t want a shabby investment banking cover letter.

Yours must stand out like a suit by 6 Avenue Tailors.

That starts at the top.

See this cover letter sample for investment banking jobs:

Investment Banking Cover Letter Sample Template: Heading

[Your Name]

[Phone Number]

[Online Portfolio]

[LinkedIn Profile]

[Hiring Manager Name]

[City, State, Zip]

Use the same contact info layout in your CV for continuity’s sake.

Double your impact with a matching CV and cover letter combo. Use our cover letter builder and make your application documents pop out.

CREATE YOUR COVER LETTER NOW

Want to try a different look? There’s 18 more. A single click will give your document a total makeover. Pick a cover letter template here .

3. Introduce Yourself and Cite the Job Title

In a great business presentation, your first task is to frame your story .

That means starting strong—with something they’ll take note of.

The best attention-getter? Address your cover letter with the hiring manager’s name.

Then drop your biggest ice-breaker.

Use this template:

Investment Banking Cover Letter Sample: Paragraph #1

Dear  [Manager’s Name] ,

[Big investment Banking Milestone You Attained]  was hard work and a big achievement. It's one of the key reasons I'm applying for your investment banking analyst position at  [Company Name] . Your commitment and success in  [Key Company Goal]  is well known in the field and fits my passions.

And—did you notice that cover letter for investment banking jobs puts the job title right up top?

That’s J.P. Morgan-ready.

“Slow down, will you? I don’t have a big achievement yet!”

In an entry-level investment banking cover letter with no experience, use facts like:

• A positive press release or news item about the firm
• A high point from your schooling or internship
• Something you love about the company
• A referral from inside the company—referrals are job search gold!

Plus—use “Ms.” instead of “Miss” or “Mrs.” to stay professional.

Expert Hint: A study in The Journal of Finance reveals some shocking information. MBAs who experienced down stock markets during schooling are less likely to apply for Wall Street jobs. Yet those who do, make substantially more money. If you graduated after a crash, go against the tide and head to the Street. You’ll have less competition and ensure high earnings.

4. List Investment Banking Skills & Accomplishments from the Ad

In the book, Driven , investment banking guru Joel Litman points out that “It’s easier to ride a wave than storm a beach head.”

Don’t try to make them need what you have.

Show you have what they need.

Fine-tune your cover letter to fit the investment banking job you want.

In the second paragraph, show fitting investment banking accomplishments. (The bullet points are optional.)

See this example:

Example Cover Letter for Investment Banking: Paragraph #2

I know from your ad that you're seeking an investment banking professional skilled in  [3 Investment Banking Skills They Want] . I think these accomplishments will put me in the picture:

• [Investment Banking Skill #1]. [Milestone #1]
• [Investment Banking Skill #2]. [Milestone #2]
• [Investment Banking Skill #3]. [Milestone #3]

Expert Hint: A study in The Journal of Finance proved top-tier investment banking pros with large skill sets realise £65M in additional gains per client. If you’ve got a deep investment banking skill set, show the evidence in your cover letter for investment banking jobs. That’ll give you leverage during salary negotiation time.

5. Ask for an Interview

Your cover letter for investment banking jobs is a pitch.

That means it needs a call-to-action.

At the end of your cover letter , ask them for the interview.

Sweeten it a little with your value.

Here’s a sample investment banking cover letter closing:

Sample Cover Letter for Investment Banking Jobs: Call to Action

I'd love to speak with you soon about how my  [2 More Skills They Need]  can help  [Company Name]  meet its goal of  [Quote from Company’s Mission Statement] .

[Digital Signature] 

[Full Name, Title]

With ResumeLab’s CV builder you’ll write your CV in a flash. Get specific content to boost your chances of getting the job. Add job descriptions, bullet points, and skills. Improve your CV in our CV builder now .

CREATE YOUR CV NOW

Nail it all with a splash of colour, choose a clean font, highlight your skills in just a few clicks. You’re the perfect candidate and we’ll prove it. Just pick one of 18 CV templates and get started now .

To write a cover letter for investment banking jobs:

• Format your investment banking cover letter like a professional business letter.
• Use the hiring team manager’s name.
• Tell them what job you are applying for.
• Break the ice in your first paragraph.
• In paragraph #2, list investment banking achievements.
• End the investment banking cover letter with a CTA.

Do you have questions about writing investment banking cover letters? Need to learn more writing cover letters ? Let’s chat in the comments section. And thanks for reading!

About ResumeLab’s Editorial Approach

At ResumeLab, excellence lies at the heart of our values, underpinning our promise to provide outstanding career resources. Our team of career experts meticulously assesses each article in line with our editorial guidelines , guaranteeing our content's high quality and dependability. We consistently engage in original research, illuminating the nuances of the job market and earning acclaim from various influential news outlets. Our commitment to delivering professional career advice draws millions of readers to our blog annually.

Tom Gerencer is a career expert covering a wide range of job-related topics. He’s shared his insight for jobseekers at all career levels in over 200 articles, reaching over a million readers every month. His written pieces are based on meticulous research and feature insider tips from key industry experts.

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Investment Banking Cover Letter [Examples, Template & Tips]

In this article, we’ll cover:

Investment Banking Cover Letter Examples

How to write an investment banking cover letter, investment banking cover letter template, tips on how to write a cover letter for investment banking.

An investment banker or investment banking analyst’s major responsibilities include raising capital for businesses and individuals by issuing debt and selling equity, overseeing mergers, conducting research, and preparing legal and financial documents.

Want to get into investment banking? Well, you’re in for a fierce competition. To boost your application, make sure your investment banking cover letter pitches yourself effectively to future employers.

We’re going to guide you on how to craft a top-notch how to write a cover letter for investment banking jobs.

General investment banking cover letter

Dear Hiring Manager,

My name is Kellie Huang - a recent MBA graduate from National Taiwan University. I was introduced to your firm via Professor Kuo and was excited to see the junior investment analyst opening at your firm, Barclays. With my educational background and former Morgan Stanley internship experience, I believe that I would make an excellent fit for this role. 

During my previous internship and Morgan Stanley, my main tasks included preparing marketing materials for M&A and capital-raising engagements, conducting industry and company-specific research, maintaining accurate records on funding sources, and developing written materials, including offering memorandum and new business presentations. Through this internship program, I have gained strong modeling and analysis skills as well as the ability to work effectively either in a team or independently.  

Barclays is known in the industry for providing comprehensive financial, advisory, and capital-raising services, which makes me look forward to joining and contributing to your firm.

I have attached my resume for your further review of my qualifications. I would welcome an opportunity to further discuss how my skills and experience could help Barclays in an interview. Thank you very much for your time and consideration.

Kind regards, Kellie Huang

[email protected] linkedin.com/kelliehuang95 (+886)-555-9999

Investment banking internship cover letter

Dear Mr. Steven,

My name is Nathan L. Reynolds - a final year student majoring in Finance at UT Austin. I’m writing in support of my application for the Investment Banking Summer Analyst Program at Cowen where I would love to pursue my dream and build my career.

My fascination with finance and banking started at an early age, which motivates me to enroll in UT Austin and enables me to complete the Insights Programme for first-year students at McKinsey. The program gave me exposure to the fundamentals of financial analysis and modeling, value interest, and equity research. I am also predicted to graduate with first-class honors since I have an excellent record of academic achievement, with 8 A* and 2 A grades at the GCSE level. 

Besides that, I'm an active participant in many clubs and organizations which demonstrates the team player skills you are looking for.

An opportunity to complete the internship at Cowen would be a dream come true for me. I would be happy to answer any questions you have in person or online, at your earliest convenience. Thank you for your time and consideration!

Sincerely, Nathan L. Reynolds

15 Live Oak Street, Austin, TX 78746  [email protected] (+361)-993-5566

Goldman Sachs cover letter

Chaikerra Guice 21138 Chadbourne Trace Lane, Richmond, TX 77407 (281)-220-9084  [email protected]

September 19, 2023

Dear Goldman Sachs Hiring Manager,

After reviewing on handshake your job description about the Summer Analyst opportunity at Goldman Sachs, it’s clear that you’re looking for a candidate who is extremely familiar with the responsibilities associated with the role and can perform them confidently. I am certain that I have the necessary skills to successfully do the job adeptly and perform above expectations.

During my academic career, I managed to gain five years of work experience for Kroger Co. as a sales representative in a fast-paced environment. I was trained in many departments and had the opportunity to shadow a Human Resource Manager. I also observed 100 different training programs they have to offer including, recruiting, training, Talent Acquisition, and compliance with rules and regulations. 

Moreover, I had the privilege of working for Baylor University’s Student Activities in a managerial role by helping with 10 different community service projects. I learned professional skills such as guiding, educating, supporting, and instructing students by building meaningful relationships with them. 

I look forward to elaborating on how my specific skills and abilities will benefit your organization. Please contact me at (281)220-9084 or via email at [email protected] to arrange a convenient meeting time for an interview.

Thank you for your consideration, and I look forward to hearing from you soon.

Sincerely, Chaikerra Guice

Source: Chaikerra Guice’s Goldman Sachs Cover letter

JP Morgan cover letter

Yousuf Kadir 5832 Reba St. Morton Grove, IL 60053

November 8th, 2023

J. P. Morgan 270 Park Ave., New York, NY, 10017

Dear Recruiter,

My name is Yousuf Kadir and I am currently a sophomore at Northwestern University studying Economics and Business. I was recently introduced to J.P. Morgan’s sophomore investment banking program via Ian Chan and was impressed with what I learned of J.P. Morgan’s competitive and collaborative culture. I am interested in pursuing an investment banking summer analyst position at your firm.

I have previously completed an internship at Aurora Investment Management, a hedge fund of funds in Chicago. Through this experience, I worked on managing projects and analyzing financial analyses. From this, I have learned skills including attention to detail and analytical skills, thus the relevant experience to pursue a career in banking.

Given my background at Aurora Investment Management and my attention to detail and analytical skills, I am particularly a good fit for the investment banking analyst position at your firm. I am impressed by the track record of J.P. Morgan, the responsibilities given to an investment banking summer analyst, and I look forward to joining and contributing to your firm.

I would welcome an opportunity to discuss my qualifications with you and learn more about J.P. Morgan at your earliest convenience. I can be reached at 847.486.1424 or via email at [email protected] . Thank you very much for your time and consideration.

Sincerely, Yousuf A. Kadir

Source: Yousuf Kadir J.P. Morgan Cover Letter

Morgan Stanley cover letter

Dear Sir/Madam,

I am writing to apply for the Summer Analyst Programme as advertised on the TARGETjobs website. I am in the final year of my BSc in Electrical & Electronic Engineering course at the University of Nottingham with plans to begin an MSc in Finance in 2015. I am seeking my first internship towards a career in investment banking (M&A) and I feel, with my detail-oriented nature and my quantitative and technical background as an engineer, I am prepared for the highly quantitative and analytically demanding finance environment.

Like in engineering, investment banking, in particular M&A, is another way of creating synergy i.e. the interaction of elements (companies) that when combined are greater as a whole, than individually, and this is what draws me to this field. I am excited by the prospect of finding more cost-effective, efficient, and profitable ways for companies, by integrating, to operate and provide services. 

The experience on numerous projects during my education has developed my ability to think critically, conduct research, write reports and communicate effectively, for example prior to my enrollment in the university, I was part of a team that worked with Fairline Boats Ltd to develop a 3D storyboard and simulation for the advertising campaign of their new boat. I was exposed to different new and innovative technologies in which I had to assimilate quickly, identify issues and propose solutions.

I hope that, on consideration of my attached CV, you will feel that I have the skills and experience to succeed in your summer analyst programme and become a valued member of Morgan Stanley.

I very much look forward to hearing from you.

Yours faithfully,

Source: Cover letter for an internship position at Morgan Stanley

Below you will find essential parts that make up a great investment analyst cover letter, including tips for writing each part.

✍🏻 Adopt a standard cover letter format.

The 6 sections that need to be included in a cover letter format for investment banking positions are: 

• Letter header - Provide the personal and contact info of the sender (you), date, and the recipient (recruiter, employer, or hiring manager).
• Salutation - Start with Dear, Hi, or Hello, and address the receiver directly.
• Introduction paragraph - Introduce who you are and mention which position you're applying for.
• Body paragraph(s) - Explain your motivation to apply and what makes you the best fit. 
• Closing paragraph - Remind the reader to review the attached files and express your gratitude.
• Signature - End the application letter with a proper sign-off and use your real name.

✍🏻 Express your interest in the role and your enthusiasm for investment banking.

This marks the difference between an investment analyst cover letter vs a resume. A resume only mentions your educational qualification and professional experience while an investment banking cover letter further explains your interest in the job. 

“Passion will get you the job.” This is especially true when you're writing an investment banking internship cover letter. Think carefully about what you are truly passionate about instead of what you think the hiring manager expects to read. In such an increasingly competitive market like investment banking, it’s passion and personality that help entry-level candidates and juniors get a leg up on the competition.

✍🏻 Explain why you are an ideal candidate. 

Here are a few tips:

• Use quantified results to elaborate on your experiences and accomplishments, for example: “In the last role at LTA Inc, I’ve supported IPO initialization for 8 startups onto NYSE and Nasdaq.”
• Insert positive words to describe yourself, such as: capable of, able to, dependable, energetic, flexible, etc. 
• Mention what you can do to bring value to the firm. Check out the Goldman Sachs cover letter example : “With plenty of experience in foreign investment and finding funds for domestic startup capital, I would welcome the opportunity to discuss your investment plans for the coming year at Goldman Sachs.”

✍🏻 Finish with a strong CTA.

In the final paragraph of your investment analyst cover letter, make sure you’ve inserted a strong CTA (call-to-action) to remind the employer to review your application and speak with you further regarding the job opportunity. By doing so, you can show them your motivation to apply and interest in the role, as well as give them a push to reach out to you for an interview.

✍🏻 Don’t forget to attach your resume/CV.

A cover letter is generally submitted as part of your job application (alongside your resume or CV). Hence, keep in mind to attach your documents to the email and make sure the files should be named consistently and properly.

Not sure where to start? Here is a template that you can download for free and use for your own investment banking job application. 

[Your Full Name]  [Your Address]  [Your Email Address]  [Your Phone Number]

[Date written]

[Recipient’s Name]  [Recipient’s Job Title]  [Company Name]  [Company Address]

Dear Mr./Mrs./Ms./Mx. [Name] , 

I am writing this cover letter to apply for the [job role] position at [company name] , as advertised on [website name] . I feel that I would be a valuable asset to your company as well as the [department/team] because of the following qualifications: 

During [number] years of experience in [area of expertise], I am responsible for [list at least 3 major job tasks]. The greatest accomplishments I've achieved in the former roles are [achievement 1] and [achievement 2] . 

My key skills include [soft skills] and [hard skills] , which enable me to accomplish the achievements mentioned above. I’m also [personal traits] . That makes me strongly believe I am the right fit for the role and can bring more value to the [company name] ’s growth. 

Please kindly find attached my resume. I thank you for your time and consideration. I look forward to hearing from you soon. 

Sincerely,  [Your Name]

💡 Focus on your soft skills and personal traits. 

Here comes the two important factors that determine whether or not you're qualified for the role. To do so, you need to research the firm and make sure you can fit into the corporate culture. 

Here are some must-have soft skills for your investment banking cover letter :

• Stay calm under pressure
• Work well in a team 
• Honesty & Integrity
• Relationship building skills

💡 Be brief but engaging.

As a general rule of thumb, your investment analyst cover letter should range between 200-350 words. If it's too short, the hiring manager may think that you didn't put much effort into it or don't have many things to show. On the other hand, a cover letter exceeding 400 words can seem too long and make recruiters miss important points. Be brief and direct with your point to keep their attention.

💡 Mention any referrals or mutual networks.

As networking is especially essential within financial services, you can get a leg up on the competition by including any referrals or mutual networks in your investment banking cover letter. 

Example of a successful cover letter for JP Morgan internship program, with a referral: 

“I was recently introduced to J.P. Morgan’s sophomore investment banking program via Ian Chan and was impressed with what I learned of J.P. Morgan’s competitive and collaborative culture.”

💡 Be confident, but do not over-exaggerate.

Confidence is key in job hunting and can be conveyed through your writing. To keep that positivity throughout your investment banking cover letter, here are a few tips without overdoing it:

• Avoid overusing phrases like “excellent", “think outside of the box”, “strategic thinker", “expert", etc. 
• Admit that you haven't gained plenty of work experience or significant achievements 
• Willing to take on any challenges as a newbie

💡  Utilize bullet points. 

Consider using bullet points when writing your investment banking cover letter and resume. That will make it easy to read for employers and save a lot of space. 

When to use bullet points in a cover letter:

• List out job responsibilities in previous roles 
• Mention professional accomplishments in the field
• Highlight hard and soft skills

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--- Originally written by May Luong ---

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