You NEED to know these insights into Bank of America 2023/24 openings!
Today, we’ll focus on Bank of America, which
has started recruiting this year. We’ll have key points you should be aware of
when applying for jobs at this institution.
Students may have noticed that among the
many investment banks that have initiated recruitment, #BoA has opened the most
departments. In the current market, there are multiple departments across the
front, middle, and back-end operations available for applications - a testament
to its strength.
Today, we’re providing you insights into
departments opened by Bank of America. We encourage you to read today's article
and check out the images before submitting your application to BoA!
BoA typically allows you to apply for 2
departments. You should thoroughly understand the work content of each department
before deciding on an application strategy. Opt for the two departments that
are most suitable to your interests and skills, and which you believe will
increase your chances of securing an offer! Take a look at the images for more
details about:
📍Global Compliance & Operational Risk
Here, you need to comply with the requirements of the Securities Regulatory Commission. Compliance is responsible for supervising, regulating, and processing requirements. This is the only graduate position currently offered by BoA.
▶️Summer Analyst
They handle the overall financial
management of BoA, and you’ll find yourself involved in dealing with a fair
amount of financial reporting, forecasting trends, and so forth.
📍Global Capital Markets
Global Capital Markets is under IBD and is
divided into Equity Capital Markets and Debt Capital Markets. ECM is
responsible for IPOs, while DCM is responsible for bond issuance.
This department oversees credit risk
management. Many departments require it, as they all need it to calculate
default risks that need to be assumed or that exist behind products/loans.
📍Global Transaction Services
They are responsible for handling trade-related
products and cash management. Some of their customers are referrals from
Corporate Banking.
📍Global Corporate Banking
As part of the Sales/RM Team they handle
pitching traditional banking products. If customers want to do things other
than loans, such as M&A or DCM, they have to refer to other departments.
📍Global Investment Banking
This department is mainly about deal
makers, responsible for the pitching, coordination, and execution of deals.
There is a division of teams according to industry, such as TMT, real estate,
etc.
In addition, students should note that
S&T applicants who apply for BoA need to do a coding test!
📍Global Research
Every bank has opened a research
department, and BoA opened theirs this year. Research is divided into equity
research and macro research. Interested students should start preparing!
This year they have 2 special positions: 1️)
Corporate Audit and 2) Corporate Audit (Technology).
Corporate Audit is to do with internal process improvement, and Corporate Audit
(Technology) is about using technology to help with internal audits, internal
control, etc.
The new team headcount of Corporate Audit
(Technology) may not be much, maybe 1-2, but the competition should be a lot
less. If you have experience in finance compliance/internal audit, you will
have an advantage when applying for this team.
BoA has invited technology developers this
year to apply, so students who have a background in technology and are
interested can pay attention!
📍Global Quantitative Strategies Summer Analyst / Associate
If students want to enter this department,
they must have a solid programming background, as the department has a coding
test! It can be said it is the quant version of S&T.
📍Global Human Resources
BoA even opened a non-revenue generating
department. Students who study HR should not miss it!
We know, this is a LOT of information to
take in! That’s why having a career coach to work with you and help you
determine the ideal career path is so important. We are here to help you
process all this information to make sure you KNOW what career is right for you
and how you can land your dream role!
Follow us on Instagram (ig: HKCareers / ibankcoaching) to know insider tips about grad job / internship hunting.
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