By Tomás Soares, MFA2025
Spring is in full swing, and for many of you, it probably marks the start of an exciting new chapter. Maybe you’ve just accepted your offer to pursue a Masters degree (hopefully at London Business School), and now you’re shifting your focus from GMAT and admissions essays to thinking seriously about your career goals. For many incoming students, especially those with their sights set on finance, that next step means one thing: getting into investment banking.
With summer around the corner, so is recruitment season, which kicks off as early as August. As I get ready to graduate from the LBS Masters in Financial Analysis (MFA) and step into my own investment banking career, I wanted to share my journey into the industry, how LBS supported me every step of the way, and some honest advice I picked up through it all.
My first steps into finance
Truth be told, nothing in my youth screamed “future banker.” I wasn’t reading The Economist at age 12 or memorising the S&P500’s closing price before bed. At one point, I wanted to be a pilot. At another, study medicine. But life sometimes has odd ways of redirecting you.
Finance wasn’t even on my radar until the summer before university, when I interned in real estate asset management at BGL BNP Paribas in Luxembourg. That internship sparked something in me. The following year, I joined the Central Bank of Luxembourg, where I worked on macroeconomic research notes for the Governor, with a focus on emerging markets. It gave me a great understanding of financial systems and global markets, and I knew I wanted to see how that knowledge could be applied at the institutional level. So the next summer, I interned at J.P. Morgan’s Private Bank, working with the Benelux Investments team. It was a fantastic experience that taught me how to think through capital markets in a real, hands-on way, and to help engineer actionable investment strategies.
By the time I graduated from my Bachelors, I had seen a fair deal of markets and asset management, but I felt like I wanted to explore a different side of finance, more strategic and transaction-oriented. That curiosity led me to take on an M&A off-cycle internship at ING in Brussels. And I loved it. The fast-paced nature, the ability to dive deep into companies and their financials, and the sense of having a real impact on my team’s output, even as an intern, made me realise that investment banking was the path I wanted to pursue more seriously after my Masters.
The inflexion point: joining LBS
Once I knew where I wanted to go, the next question was how to get there. That’s when I found the MFA at London Business School. From the beginning, I had three main things I wanted out of a Masters programme: (i) access to a strong international alumni network, (ii) a rigorous academic environment, and (iii) a proven track record of helping people break into top investment banks. After talking to several alumni and practitioners who had been in my shoes not long ago, I realized that LBS ticked all three boxes, and more. With a solid base of internships under my belt and a strong desire to push further, I knew the MFA would give me the final lift I needed to break into investment banking. A year later, I can say this without hesitation: LBS gave me more than I asked for.
An incredible support network even before starting classes
Even before the programme officially started, I felt like LBS was on my side. During summer, I was given access to a suite of tools to prepare for the recruiting season, including an AI-based CV optimization tool and a one-on-one session with a senior mentor to refine my resume. LBS also provided a comprehensive recruitment guide tailored specifically to investment banking, complete with technical questions, application tips, and industry insights. That was perfect to prepare in advance for the start of the recruitment season!
Closer to the programme’s start, the Career Centre kicked in with workshops, mock interviews, and HireVue practice sessions, which really allow you to gain an edge over other candidates. Once classes begin, you dive straight into technical upskilling bootcamps, everything from Excel and financial modelling to Bloomberg training and corporate valuation. It’s intense but exactly what you need to be ready for the early September application deadlines. Obviously, the MFA’s core courses, such as Corporate Finance and Investment Fundamentals, gave me a solid foundation, while advanced modules like LBO Modelling and Securities and Valuation helped fine-tune the technical skills needed for interviews.
Taking full advantage of the LBS ecosystem
Most importantly, from September onward, you will get FOMO from all the career fairs, company presentations, and networking events organized by the Career Centre with the likes of The Raine Group, Houlihan Lokey, Bank of America, Park Square Capital, and Partners Group participating. And throughout my application process, the Career Centre team continued to be a tremendous resource, always available for one-on-one coaching sessions or simply a word of advice when I needed it most (and God knows I had several breakdowns!).
Also, don’t sleep on the student societies! Joining the Finance and the PE/VC clubs allowed me to attend events such as a Private Credit course led by Bain Capital but also a whole weekend of 3-statement modelling training provided by Financial Edge. So, truly, at LBS, from day one, you’re building the technical base that will help you both ace interviews and succeed on the job!
The results
Undoubtedly, the LBS brand opened doors I didn’t even know existed. More so, as the Out in Business (OiB) Scholar, I also got to attend a wide range of LGBTQIA+ recruiting and networking events hosted by firms like J.P. Morgan, Morgan Stanley, Rothschild, Evercore, Blackstone, and Lazard, with many of those leading to subsequent coffee chats. Having access to that kind of professional community and feeling like I could show up as my full self with LBS backing me all the way made a massive difference.
In the end, after countless applications, dozens of coffee chats, and moments of doubt (many!), I was fortunate to receive a handful of offers from top firms in London. As such, next June, I am excited to be joining J.P. Morgan in the EMEA Diversified Industries team as a summer intern, and after my summer, I will also complete an off-cycle internship at Morgan Stanley!
It goes without saying that none of this would have been possible without months of structured preparation, meaningful mentorship, and the robust ecosystem of support provided by LBS and the alumni network, for which I am incredibly grateful. With that in mind, I wanted to share some key lessons that I learned throughout the recruiting process, insights I hope will be helpful to anyone preparing to break into banking. There are no shortcuts, but there is a path. Here are the eight principles I leaned on the most.
Some advice I wish I had for recruiting
Believe me, at some point during the recruitment season, you will be overwhelmed. You will be asking yourself questions like “What am I doing?” and “Why am I doing this?”. When this happens, try to see the big picture, put things into perspective and remember some key principles to follow.
- Nail the basics
Banks receive thousands of applications from equally qualified and educated students. As such, there is no room for error, so you must get the basics right! A clean, polished, and impactful CV. A tailored cover letter showcasing your interest in the industry and the firm. Spotless online test results. Clear, confident HireVue responses (remember the STAR method). And strong technical knowledge in everything from accounting fundamentals to DCFs and merger models. These are the foundations, and they have to be solid.
- Develop the right mindset for networking
Networking can be intimidating at first but remember that it’s not about asking for a job; it’s about building relationships. You never know who might be in a position to help you later down the road! By networking, you’ll learn how bankers think and speak, which will help you “talk the talk” in interviews. Remember, if you want to be a banker, you must act like a banker. Thus, before your programme starts, reach out to MFA and more broadly LBS alumni and try to schedule coffee chats!
- Leverage your peers and friends
Do not underestimate the power of your peers in helping you get through the recruitment season. It is tough, intense, and demanding to balance coursework, exams, applications, coffee chats, technical preparation, and interviews. Having a few friends who are going through the same process can be a game-changer. I was lucky to have mentors and a fantastic flatmate who kept me focused, motivated, and honest. We shared research, quizzed each other on technicals, and conducted mock interviews. Find your people and lean on them.
- Prepare, prepare, and prepare
Failing to prepare is preparing to fail. The worst thing you can do is receive an invite (these can come as little as 48h before the date) to an interview at your dream bank and not being prepared for it. You will regret it dearly! However, don’t think that just reading the FT is sufficient preparation. Instead, you need weeks of serious, focused and detailed work across 3 key areas: (i) your story and elevator pitch, (ii) markets and commercial knowledge, and (iii) technical skills such as accounting and corporate finance. But remember, interviews will test both your competence and composure, so practising in real conditions with your peers is key.
- Take full advantage of the Career Centre.
They are here to help you and have seen hundreds of students land roles in finance, so they know what works. From connecting me with relevant alumni, to organizing mock interviews and providing feedback on my cover letters and elevator pitch, their guidance helped me refine my approach and gave me the confidence I needed at critical moments in the process.
- Pace yourself and pick your battles
Recruitment begins fast and early in August. By the time you start the MFA, it helps immensely to know what verticals in finance interest you most, be it M&A, capital markets, PE, VC, asset management, or something else entirely. Soon, you will wish your day had an extra 12 hours, so focus your time and energy strategically. You simply won’t have time to apply to everything with equal intensity. Pick your battles!
- Be confident in your abilities, not cocky
Confidence is attractive to interviewers, but arrogance is not. Come interview day, prepare thoroughly, present yourself professionally, and show humility. Respect people’s time, show up early, and always follow up with a polite thank you note. Don’t forget to dress up formally no matter the interview stage or the interviewer’s seniority. Go in there trying to give your best performance on the day and see how far it takes you. Treat every interaction as an opportunity to demonstrate your character and attention to detail!
- Have a plan B (and C)
Investment banking might be your dream job, but success isn’t a straight line. Thus, if you don’t land a summer or grad offer on-cycle, consider off-cycle roles at boutiques or regional offices (Paris, Madrid, Frankfurt, Zurich, Amsterdam, etc.). Leverage any additional languages or geographic flexibility. And don’t overlook adjacent fields like transaction services or audit as stepping stones. The goal is to build experience that positions you well for a lateral move into investment banking in the future, if needed.
Final thoughts
Recruiting into investment banking is tough. What makes the journey easier and far more enjoyable is doing it within a community that supports and empowers you. For me, that was London Business School. It offered the technical training, the professional guidance, and the personal network that helped me bring this goal to life.
Remember that in the end, it’s just hard work and interpersonal skills. Focus on polishing your story and establishing relationships with bankers/alumni, and also do everything else! Above all, keep your spirits up. It’s a long and draining process and, inevitably, you’ll have both good and bad interviews. Don’t dwell on rejections and be conscientious at every step in the process. It will make a difference, believe me!
If you’re about to embark on a similar path, I hope this post offers some clarity and encouragement. And if you’re still wondering whether banking is the right move or whether LBS is the right place to launch your career, feel free to reach out. I’m always happy to chat on LinkedIn!