How to Break into Investment Banking–What to Do as a Freshman

Investment banking is one of the most competitive career fields to enter, with top roles often requiring years of meticulous preparation. Freshmen aiming to secure these coveted positions need to strategically build their resumes, develop relevant skills, and network effectively. By starting early and focusing on the right activities, you can maximize your chances of breaking into this high-paying, prestigious career.

Here is our quick guide to how to better your chances of breaking into Investment Banking as a Freshman.

Start Early and Build a Strong Foundation

The journey to investment banking begins long before junior year internships. Freshmen have the advantage of time to learn, network, and establish credibility. The key is to prioritize impactful activities and focus on deepening your understanding of the finance world. While it may seem overwhelming, a clear plan and consistent effort can position you for success.

Learn the Language of Finance

One of the simplest yet most effective ways to start is by familiarizing yourself with financial terminology and market trends. Devote just 5–10 minutes daily to reading financial news from sources like Fortune’s Term Sheet. These types of concise newsletters provide digestible insights into stock movements, market trends, and major deals.

Additionally, consider subscribing to traditional financial outlets like The Wall Street Journal or Bloomberg. Many universities offer free or discounted access for students. As you read, take notes on unfamiliar terms and topics to systematically expand your knowledge. This habit not only keeps you well-informed but also helps you build a natural perspective on business and finance, which will be invaluable during interviews.

Network Strategically

Networking is arguably the most important aspect of breaking into investment banking. As a freshman, your initial focus should be on building relationships with fellow college students who have already secured internships. These individuals can often become your mentors and can provide guidance and advice on navigating the recruitment process.

Once you’ve established connections with peers, broaden your network to include alumni and professionals in the industry. Aim to speak with one new person each week. This can be as simple as scheduling a coffee chat or virtual meeting. Show genuine interest, ask thoughtful questions, and maintain these relationships by periodically updating them on your progress.

If you’re attending a non-target school, networking becomes even more critical. Alumni and professionals from similar backgrounds often understand the unique challenges you face and can provide tailored advice to help you stand out.

Engage in High-quality Extracurricular Activities

Active participation in finance-related extracurricular activities is a must for aspiring investment bankers. Join finance clubs or investment societies with a strong track record of placing members in top firms. This will also help expand your network at the same time. Aim for leadership roles to demonstrate your commitment and ability to take initiative, which recruiters will be keen to see.

If your school lacks any robust finance clubs, look for opportunities outside your campus. Consider joining intercollegiate investment clubs, contributing articles to platforms like Seeking Alpha, or even starting your own investment initiative. Find like-minded individuals who can help share in this project. Employers value candidates who show initiative and passion for the field, especially if they can point to tangible achievements that show commitment and skill.

When evaluating extracurricular options, research the career paths of past members to see if you can make any connections. Clubs with alumni in prominent roles often provide better networking opportunities and a stronger support system.

Develop Technical Skills Gradually

While networking and extracurriculars are essential, you will eventually need to demonstrate technical proficiency. Freshmen should typically spend about 30 minutes a week studying financial concepts like valuation, discounted cash flows (DCF), and financial modeling. As recruitment approaches, ramp up your preparation by practicing stock pitches, reviewing equity research reports, and refining your resume.

There are many online resources and courses available, such as Breaking Into Wall Street, that can help you master these technical skills. Start small to avoid feeling overwhelmed but ensure steady progress so you’re prepared when interviews begin.

Access a range of free learning materials at Financial Edge. This will allow you to hone your knowledge of financial terms and concepts as well as deepen your technical capabilities.

Secure a Freshman-year Internship

Landing a finance-related internship as a freshman is a powerful positive signal to future employers. While the options may be limited, even unpaid roles at small firms or boutique banks can make a significant difference. These experiences show your commitment and give you a head start on acquiring relevant skills and experiencing life within a corporation.

Remember to be proactive in your search. Don’t be afraid to cold-email professionals and firms and apply widely to maximize your chances. Aim to reach out to one or two people daily during the recruiting season. Persistence is key to securing your first internship often requires contacting dozens, if not hundreds, of potential connections.

Download a free Financial Edge CV template to help create the right message to send potential employers.

The Importance of Targeting the Right Companies

US investment banks fall into three categories: bulge bracket banks (e.g., Goldman Sachs, JPMorgan), middle-market banks (e.g., Jefferies, Houlihan Lokey), and boutique firms (e.g., Evercore, Lazard). Each has unique characteristics and recruiting processes. While bulge brackets offer global opportunities, boutiques often focus on specific industries or regions. Tailor your applications based on your interests and the opportunities available.

Excel in Interviews

Investment banking interviews are notoriously rigorous, often including both technical and behavioral questions. Prepare thoroughly by practicing with friends or mentors. Familiarize yourself with common questions, such as “Tell me about yourself” or “Walk me through a DCF model.” Focus on conveying your genuine interest in the field and your ability to work in a team-oriented, high-pressure environment.

Beyond technical proficiency, interviewers look for candidates with the right attitude. Stay positive and confident, even if you encounter challenging questions. If you don’t know the answer to a technical query, it’s best to admit it gracefully and express your willingness to learn.

Conclusion

Breaking into investment banking as a freshman requires dedication, but the rewards are well worth the effort. By consistently building your knowledge, expanding your network, and demonstrating your passion for the field, you can secure a strong foothold in this competitive industry.

Remember, the journey is a marathon, not a sprint. Each step you take brings you closer to your goal. Those who stay focused, work hard, and remain adaptable will hopefully experience success in the long run

Additional Resources

Investment Banking Summer Analyst 2026 Open Applications

Essential Skills for First-Year Investment Banking Analyst

Investment Banking Recruitment

Investment Banking Course