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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 .

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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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We hope this template helps you land that dream IB job ! Please check out the following additional resources to help you advance your career:

• Investment Banking Interview Questions
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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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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

Google Docs

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.

Level up your cover letter game

Relax! We’ll do the heavy lifiting to write your cover letter in seconds.

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

• Investment banking resume
• Financial analyst
• Bank teller
• Account manager

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. 

2 Investment Banker Cover Letter Examples

Investment Bankers excel at analyzing financial data to make strategic decisions, turning complex market trends into profitable investments. Similarly, your cover letter is your chance to turn your professional achievements and skills into a compelling narrative that showcases your strategic thinking. In this guide, we'll delve into the best cover letter examples for Investment Bankers, demonstrating how to translate your financial acumen into a persuasive pitch.

Cover Letter Examples

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The best way to start an Investment Banker cover letter is by immediately capturing the reader's attention. This can be done by stating your unique value proposition or a significant achievement relevant to the role you're applying for. For example, "As an Investment Banker with over five years of experience in managing portfolios worth over $500 million, I have consistently delivered above-market returns." This not only shows your capability but also quantifies your success, making it tangible. Remember, the start of your cover letter should be compelling enough to make the hiring manager want to continue reading.

Investment Bankers should end a cover letter by summarizing their interest in the role and the value they can bring to the company. They should reiterate their key skills and experiences that align with the job requirements. It's also important to express enthusiasm for the opportunity to contribute to the company's goals. For example: "I am excited about the opportunity to bring my unique blend of skills and experience to your firm and am confident that I can contribute to your team's success. I look forward to the possibility of discussing my application with you further." Finally, they should end with a professional closing such as "Sincerely" or "Best regards," followed by their name. It's crucial to maintain a professional tone throughout, as this reflects the formal communication style typically expected in the banking industry.

An Investment Banker's cover letter should ideally be one page long. This length is sufficient to present your key skills, experiences, and motivations without overwhelming the reader. In the fast-paced world of investment banking, hiring managers often have limited time to review applications. Therefore, a concise, well-structured cover letter that immediately highlights your value proposition is more likely to grab their attention. Remember, the cover letter is not meant to reiterate your entire resume, but rather to provide a snapshot of your most relevant qualifications and achievements.

Writing a cover letter with no experience as an Investment Banker can seem challenging, but it's all about showcasing your relevant skills, passion for the industry, and eagerness to learn. Here's how you can do it: 1. Start with a strong introduction: Begin by addressing the hiring manager directly if you can find their name. State the position you're applying for and briefly mention how you heard about it. 2. Show your passion: Explain why you're interested in investment banking. This could be because you're fascinated by financial markets, enjoy problem-solving, or have a knack for analyzing data. Whatever your reason, make sure it's genuine and shows you're committed to this career path. 3. Highlight relevant skills: Even if you haven't worked in investment banking before, you likely have skills that are relevant to the role. These could include analytical thinking, attention to detail, communication skills, or proficiency in relevant software like Excel. Use specific examples to demonstrate these skills. For instance, you might talk about a project where you analyzed complex data and presented your findings to a team. 4. Demonstrate knowledge of the company: Show that you've done your homework by mentioning something specific about the company that appeals to you. This could be their culture, a recent deal they've worked on, or their training program. This shows that you're not just interested in any investment banking job, but specifically this one at this company. 5. Show your willingness to learn: Emphasize that you're eager to learn and grow. You might mention specific areas you're interested in developing further, or express enthusiasm about the company's training program. 6. Close on a positive note: Thank the hiring manager for considering your application and express hope for the opportunity to further discuss your qualifications. Remember, your cover letter should complement your resume, not repeat it. Use it as an opportunity to show your personality and passion for investment banking. Be sure to proofread carefully before sending it off.

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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.

CV templates 

Investment Banking cover letter example 1

Investment Banking cover letter example 2

Investment Banking cover letter example 3

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!

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Investment Banking Cover Letter

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Wall Street internship guidebook: How to nail a summer analyst program — from the dress code to leaving with a full-time offer

• Internships at Wall Street banks like Goldman Sachs and Evercore will kick off in the coming weeks.
• Industry execs and insiders shared their advice to aspiring financiers for a successful summer. 
• Use this guide to prepare for your summer investment-banking internship.

In a few weeks, the investment banking industry's youngest ranks — summer analysts — will descend upon financial firms for one of the biggest trials of their young lives.

Snagging a summer internship at a leading investment bank is not just a fun summer job — it's often the starting point for a career on Wall Street. How interns perform, therefore, can be extremely consequential.

"This is a 10-week extended job interview," Steve Sibley, a professor at Indiana University's Kelley School of Business, explained in a 2023 interview . "It's a 10-week test drive or trial run for the bank with you as an employee, and also from your perspective, it's a 10-week trial of the bank as your employer."

Wall Street internships are not easy to land , as Business Insider has previously reported. The acceptance rate at top firms can be stiffer than an Ivy League university's. Goldman Sachs, for example, accepted just 1.5% of candidates into its 2022 summer internship class out of more than 236,000 applications worldwide.

But these internships can also open doors to good-paying jobs. Interns who perform well tend to be offered a full-time job as an entry-level investment banker upon graduation. This can lead to a career as an M&A banker, or a corporate fundraiser, or wealth manager, or trader. It can also lead to recruitment — sometimes within the first few days on the job — by a private-equity firm , as BI has previously reported.

Given the high stakes, Business Insider has pulled together a comprehensive list of everything a Wall Street summer analyst should know to be successful, from how interns spend their days to what they tend to wear post-pandemic to the secrets of standing out to your manager and scoring a return offer. We have advice from executives at top firms like Goldman Sachs as well as former interns on how to prepare for and make the most of the Wall Street summer internship.

What to wear (and not to wear)

The COVID-19 pandemic has made office attire more casual generally, but client-facing investment bankers with billions of dollars at stake are not by any means a relaxed bunch. Defining the fuzzy parameters of what's acceptable to wear to a Wall Street internship can, therefore, be particularly confusing. BI spoke to industry experts and junior investment bankers to learn what people actually wear to banking jobs these days and how newbies should prepare accordingly.

We learned that certain trends have become unspokenly accepted — the near-extinction of ties for men and the disappearance of high heels for women, for example. But the unspoken dress code is something that differs from firm to firm and even group to group, these insiders said, with the tone generally set by the senior bankers of the bank. At many banks, a blazer is too formal for day-to-day work, and at others, wearing sneakers has become acceptable.

So what should you pack? One junior recommended waiting to do most of your shopping until after you've been on the job for a couple of weeks and get a good feel for the vibe of your office. Or, if you feel comfortable, ask a first-year analyst who did the internship last summer what the office norms are ahead of time.

Read BI's in-depth report on what Wall Street's wardrobe whisperer and junior bankers say you should wear to your internship , from Allbird sneakers to Lululemon trousers and, of course, the just-in-case blazer.

What does the job entail?

Summer analyst programs across banks tend to have similar layouts — nine to 12 weeks in the summer, with the first week or two usually focused on training and fireside chats from execs at the firm. Most big-name investment banks are headquartered in New York, and therefore the biggest number of interns are hosted there (though other offices also host interns, too). Depending on the firm, interns are either assigned to specific coverage groups for the summer — like TMT (tech, media, and telecommunications) or FIG (financial institutions group) — or put in "generalist" positions in which they work on different types of deals.

How the weeks play out will differ by team and firm. In 2022, BI obtained two slideshow presentations from Goldman Sachs campus recruiting reps that detail its investment banking and asset management internship programs. The leaked decks, which you can see here, break down what Goldman sees as the typical "day in the life of an analyst."

Of course, the best way to learn what a Wall Street internship is like is to talk to someone who's been through it. Last year, an intern on Goldman Sachs' consumer retail investment banking team sat down with BI to detail her experience at the firm as a summer analyst. The college student, India Stephenson, spoke candidly about what the summer analyst role was like, from her nerves going in on day one to the type of work she did and her favorite place to grab lunch by Goldman's 200 West Street headquarters. Read her full interview from last year here .

Another summer analyst at a different leading large-cap bank described what a week at work was like in this 2021 interview . From socializing in Manhattan to working on live deals, the intern said you can expect 75-hour workweeks, late-night ice cream parties, and lots of takeout.

To get a return offer, be a problem-solver

BI got the lowdown from a Goldman partner about what interns can do to ensure they leave with a return offer . Dave Friedland, head of the Americas Cross Markets Group, said the qualitative characteristics you demonstrate are more important than math or Excel skills, including being a solutions-focused team player.

"You go into someone's office, you don't sit there and say, 'I don't know how to do this,'" he told BI. "You go into somebody's office, and you say, 'I've never done this before, here's what I was thinking, is that the right way to approach it, or would you give me another suggestion?'"

In the 2023 interview, the partner also debunked the myth of limited spots and advised future Goldman interns to learn how to multitask and be comfortable with failure. Read more on his advice here .

Raise your hand for extra tasks

If you find yourself with any idle time, raise your hand for extra tasks, said Asif Rahman, co-founder of Wall Street career coaching company Office Hours, in a 2023 interview before last summer's intern season.

"You should be proactively asking everyone on your desk, 'What are you working on? Can I help you with anything?'" Rahman said. "Before you leave, always go around."

Perhaps the most notorious aspect of being a junior banker is the job's grueling schedule — a stereotype that many say lives up to the hype. The simple truth, said Rahman and Sibley, is that you want to show you're a driven and hard worker. That means putting in a ton of hours .

"You should be the first person into the office and the last person to leave every day," Sibley said. Face-time is important. Face-time matters."

Keep it professional

How you behave off the job can be just as important as how you behave in the office because Wall Street internships are full of planned social activities, from drinks with teammates to baseball outings.

Summer interns will be expected to attend many work events — lunches, dinners, and happy hours. You should say 'yes' to every social outing you're invited to at work, Sibley said. But that often means drinking will be involved, and you should never go overboard, even if others around you are.

"You want to be fun, but not too much fun. You want to still be professional enough that you're not going to be ashamed to walk into work the next morning," Sibley said in 2023.

And if you're not over 21, don't drink at all at work events (even with a fake ID)."I've heard horror stories — they drink too much, they don't know their tolerance, and then it comes out that they're 20 and it just completely torpedoes their chance of getting a return offer," said Rahman. "I don't think the risk is worth it."

See Rahman and Sibley's complete advice for last year's intern class — which is still largely applicable now — here .

Life at boutiques versus bulge brackets

BI reported that first-year analysts at boutique banks expressed higher work satisfaction than their peers at most bulge brackets in 2022. The four highest-scoring firms in the experience rating section of a survey of over 1,000 junior bankers from across the industry were all boutiques. In fact, only two bulge brackets (Morgan Stanley and Credit Suisse) were among the top 10.

In an effort to better understand why so many junior bankers are gravitating toward boutique banks, BI spoke to a first-year investment banking analyst who was working in New York City in 2022 for a boutique bank that ranked high in the above-mentioned survey.

Among her experience and opinion was that boutiques pay employees more, have better exit opportunities, offer juniors more hands-on experience because they're of their smaller deal teams, and care about their employees more than peers at bulge bracket goliaths. Read her full-length point of view on the comparison of boutiques versus bulge brackets here .

The dark side of a tough industry

Of course, investment banking is not for everyone and plenty of people walked away from internships or junior banking roles because it wasn't the right fit or they didn't have good experiences. While every bank's culture is different, investment banking is broadly known for being a demanding career that often requires late nights and work on weekends, especially when working an active deal. It's important that interns go into the job knowing the potential negatives before accepting a full-time offer.

In 2022, one investment banking intern described why he hated his summer internship at an investment bank and ultimately turned down an offer for full-time work there. This person described being scared to leave his computer and times when the culture felt "abusive."

As BI reported last year, some full-time analysts have reported feelings of isolation and loneliness as a result of the competitive and hustle culture that exists. Others have gone on record to tell their stories of extreme work-induced anxiety and stress that left them in the hospital and ditching the industry altogether.

As recently as last month, there was chatter among the junior banking community about work hours and conditions after a Bank of America associate who had been working on a $2 billion deal for the bank died suddenly .

How much money can I make?

Students can expect to be paid pretty well for an internship, also known as a summer analyst gig. For example, Morgan Stanley's application page for the 2025 class listed the base pay rate for the role as $52.89 per hour.

But if you manage to snag a full-time return offer to rejoin the firm as an analyst after graduation, that's when the real money comes. Though pay will vary depending on what you are hired to do — from trading stocks and bonds to managing risk to cobbling together multi-billion stock offerings — a career on Wall Street has for decades been one of the world's most lucrative . And it's probably one of the few industries where you can rake in a six-figure salary your first year out of college.

BI has been compiling information on how much bankers stand to make at all stages of the game, including when they first start out. We have learned that so-called "boutique" banks — smaller banks lesser known to industry outsiders — tend to pay more than so-called "bulge bracket" banks like Goldman Sachs and Citi.

To find out exactly how much analysts, associates, vice presidents, and more make at boutique firms, BI pulled data about nine firms, including Moelis, Lazard, and Evercore in this 2022 story .

We also broke down pay across larger banks like Citi, JPMorgan, Goldman Sachs, Wells Fargo, and more here . Total comp, or base pay plus bonus, can be found here .

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