The Cover Letter Cure for Investment Banking Applications
Cover letters are not the most fun to write but most top banks from Goldman Sachs to JPMorgan Chase expect you to submit one. Do investment bankers read cover letters? Yes! So your top applications will need an impressive copy, curated to the role. Here's how you can create more customised cover letters in under 10 minutes 😯
1️⃣ Self-intro & Intent
Introduce yourself- degree that you’re pursuing/graduated with and 2-3 pertinent skills that set you apart as an asset to the firm. Highlight the position you’re applying for.
2️⃣ Why this company?
You MUST make this specific to the company you’re applying to. Include facts about them, such as AUM, financial performances, awards they received, etc. Then, link those back to yourself, as in, why are those facts meaningful to you? This will demonstrate that you are so interested in that company, you did extra research on them. Here’s an example of a really good paragraph:
“I am especially drawn to BNP Paribas, as interns gain exposure to transactions across Asia, and actively participate in the M&A process. BNP Paribas' role in prominent deals, such as advising on the $25 billion merger of Suez and Veolia, and supporting the €12.8 billion IPO of Volkswagen's truck unit, Traton, showcases the firm's strong market presence and expertise. The prospect of gaining exposure to large international transactions aligns perfectly with my aim to cultivate a global perspective in finance, further fueling my aspirations to work on cross-border M&A processes.”
3️⃣ Work Experience and Leadership
Write 1 to 2 paragraphs about the key skills you've hones and exposure you've garnered that make you the apt candidate. (E.g., “During my time at XYZ company, I conducted market research and drafted weekly summaries to present trading ideas to the team. This experience enhanced my market acumen, critical thinking, and pitching skills that I can leverage as a private banking intern.”
Include quantifiable results or impact created (boosted data extraction and analysis efficiency by 30% with VBA automation)
For middle office and back office roles, highlight more analytical and technical skills, python programming. Include keywords related to the position For IBD, highlight tasks related to financial modelling, valuation, pitching, skills if you're targeting front office jobs
Highlight extracurricular efforts like volunteering, fundraising, organising/ attending events and case competitions to show your well-rounded development.
4️⃣ Closing Statement
Summarise the key attributes / transferable skills that you believe will help you excel in the role. Include your contact details for further communication and thank the recruiter for their time. Keep this short and sweet.
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