Tag: full-time job

Top Investment Banking Interview Questions

If you’re interested in a career in investment banking, then you know that it’s a competitive field with plenty of challenges and opportunities. In order to prepare yourself to become an investment banker, it’s important to know not only what your career path will look like but also how to prepare for the interview process. The hiring process for investment banking typically consists of two to three rounds of interviews, with each round focusing on both technical questions and cultural fit questions.

Here are the top questions you’re likely to encounter during an entry-level investment banking interview.

1) Tell me about yourself.

This is often the first question in any interview and one you should always be prepared to answer. When interviewers ask this question during an investment banking interview, it’s because they want to know that you’re passionate about the field and that you can bring something unique to the table. The key to answering it well is to talk about your academic and personal background in a way that shows that you’d be a good fit for the position. For example, if you’ve been interested in finance for a long time and have been reading The Economist since middle school, you should mention that. Or, if you’re an English major with a newfound passion for financial markets and a minor in business, you should talk about how your diverse skill set can help you succeed in the industry. No matter what your background, being able to present yourself as a well-rounded individual with a genuine interest in finance will go a long way towards impressing the interviewer and helping you stand out from the crowd.

Pro Tip: Since banks are increasingly interested in hiring candidates with diverse backgrounds, don’t be intimidated if your background doesn’t include a business or finance major. Instead, focus on the skills and experience you can bring to the position and demonstrate how these will make you stand out.

2) Why do you want to work in investment banking?

When an interviewer asks this question it’s because they want to find out how passionate you are about becoming a banker. Since investment banking is a notoriously fast-paced and challenging industry, showing that you’ve done your homework and are truly interested in the field is a crucial part of convincing the interviewer that you’re aware of the challenges and willing to meet them. One of the keys to answering this question well is to show that you have a working knowledge of financial markets and a genuine interest in how deals get done. For example, if you recently read about an interesting technology merger in DealBook, be sure to mention why the merger piqued your interest and how that specific deal fits in with your more general interest in finance.

Pro Tip: Knowledge of financial markets and trends is particularly important when answering this question so being up-to-date on industry news and having two to three examples of relevant deals will show that you’re genuinely curious about the industry and well-prepared for the interview.

3) Why do you want to work for our bank in particular?

This question is designed to test your knowledge of the company you’re interviewing with and its position within the industry. The key to answering it well is to show that you know general financial information about the firm such as where their stock price is trading and what industries they focus on. The best way to find out this information is by reading through marketing and press materials on the company’s website and then doing additional research in trade publications such as American Banker and MarketWatch. If you’re interviewing for a position within a specific division, such as the natural resources group, it’s also important to talk about past deals that the firm has done and to mention how these deals have impacted the industry as a whole. Trade publications like the ones mentioned above will also come in handy here, helping to spotlight relevant deals that you can use as examples.

4) Where do you see yourself in five years?

Another question you’re likely to encounter in almost any interview, this question aims to find out more about your career plans and to determine how committed you are to a long-term career in banking. When preparing to answer this question, focus on how the role you’re applying for aligns with your future goals and explain why becoming a banker is a crucial part of your career path. For example, if you want to continue on the investment banking track and become a VP or managing director, talk about how the entry-level role you’re applying for will offer you the opportunity to advance in your career and achieve your goal within five years.

5) What are the ways of valuing a company?

This is one of the most challenging questions you’re likely to encounter during the interview process because it’s designed to test your technical knowledge of the field. In order to answer this question successfully, it’s important that you have a working knowledge of banking and understand valuation methodologies. The best way to develop this knowledge is by taking a business or finance class during your time in college and doing additional reading on sites such as Investopedia. By showing the interviewer that you understand the technical side of the position, you’ll also be demonstrating a willingness to learn and to become an integral part of the industry.

6) How many golf balls can fit in a Boeing 747 jet?

Another type of question you’ll encounter during the interview process is a brain teaser.
These questions are designed to test your critical thinking and problem-solving abilities and are often unrelated to the actual field of banking. In order to ensure that you’re not stumped by any of the brain teasers a hiring manager might throw your way, it’s important to practice several of these as you prepare for the interview. Luckily, sites such as Investment Banking Brain Teasers offer sample brain teasers and tips for coming up with solutions.

Pro Tip: Hiring managers are less interested in the answer itself than they are in seeing how you think through a problem. To demonstrate that you approach problems thoughtfully, be sure to ask follow-up questions and to “show your work” as you come up with your answer. For example, when answering the golf ball question, you could ask the interviewer whether the 747 is empty or full, or whether the cabin is pressurized. By showing that you’re able to come up with thoughtful solutions to problems, you’ll also be demonstrating your ability to understand complex ideas and business models, a crucial skill in any investment banking position.

Although the interview process for investment banking can be a challenging one, it’s also a wonderful opportunity to show potential employers that you’re enthusiastic, curious and knowledgeable about the field. By knowing what questions to anticipate and preparing your answers, you’ll be sure to impress the hiring manager and get one step closer to landing the job.

Next, get more career tips for internships and entry-level jobs such as 6 Ways to Impress Your New Boss and find answers to common interview questions such as Tell Me About Yourself.

Career Opportunities for Finance Majors

Being a finance major presents you with plenty of interesting opportunities to learn about business models and financial markets while also building new skills. But with so many opportunities, you may be wondering what kind of job you can get with a finance degree. With finance being such a broad category, there are many career paths you can choose.

Here are some of the most common career opportunities for finance majors:

Investment Banking

Investment banking is often regarded as one of the more prestigious jobs you can get with a finance degree, especially from a compensation standpoint. In this role, you’ll be working on financial modeling and valuation analysis, helping companies decide on business opportunities that are right for them. These decisions can range from whether a company should merge with one company, acquire another or raise additional funding for a strategic initiative. This is a great role for someone who is interested in helping companies make strategic decisions about their assets and someone who is comfortable working long hours. This is because investment banking analyst hours are known to be quite grueling, especially for entry-level roles.

Management Consulting

Management consulting is also highly regarded as one of the more prestigious careers to embark on after pursuing a finance degree. Management consultants usually have project-based work where they analyze certain situations their clients are facing and advise those clients on what business decisions they should make. Most of this advice comes from extensive financial analysis based on the client’s current situation, similar situations previous clients have faced and current market opportunities. This is a great career path for someone who is interested in making recommendations on business decisions but not necessarily being a part of the implementation of those decisions.

Investment Management

Investment management analysts often deal with the markets and managing their client’s assets. These opportunities could range from managing the assets of wealthy individuals (through private wealth management) to managing a company’s retirement plans, pension plans or even foundation plans (which is known as asset management). Analysts in these roles often act as the support role for more senior advisors, where their tasks could be researching different investment decisions, preparing pitch decks or formalizing performance reviews. This is a wonderful opportunity for someone who is very numbers-drive and passionate about helping clients reach their financial goals.

Corporate Finance

Corporate finance roles vary widely depending on the company and division you’re in. Frequently, corporate finance jobs deal with analyzing financial decisions that affect the company internally. For example, offering advice on whether the number of employees in a company should be increased or decreased, strategizing how to decrease a company’s operational costs or determining the return on investment (ROI) of certain proposed initiatives. This is a great role for someone interested in helping with the inner working of a company and contributing to the decision-making process.

Risk Management

When firms think about maximizing return (or increasing investment), they must do so while minimizing risk (or loss). This is where risk management teams come into play. They offer advice on maximizing returns by forecasting market risks, assessing probability of bad investment outcomes and using statistical analysis to ensure that the business side of the company is acting and implementing their strategy within reason. This role is a perfect fit for someone interested in statistics and analysis.

Next, learn more about this college major such as What is a Finance Major and is it Right for Me? and get more career tips for internships and entry-level jobs such as How to Get a Mentor at Work.

How to Become a Financial Analyst

The financial services industry is a broad field with lots of career opportunities. If you’re a business or finance major, or just interested in exploring this field, you might be thinking about becoming a financial analyst. What is a financial analyst? It’s someone who carries out financial analyses and makes business recommendations based on these analyses. Although analysts typically work for banks or insurance companies, this role can be found in almost every industry so it’s a great way of combining a numbers-driven skill set with some of your other passions.

Here are the steps you need to take to become a financial analyst.

1. Know the different types of financial analyst positions

Your day-to-day activities as an analyst will vary greatly depending on what industry you choose to work in. For example, analysts working in investment banking will largely be reviewing financial statements and creating financial models while analysts working for an insurance company might be more focused on creating and analyzing budgets. By knowing what industry you want to work in, you’ll be able to get a better sense of what the position will look like and the unique challenges and benefits associated with that particular kind of role.

Pro Tip: Even within a particular industry, there are different kinds of analyst roles. For example, if you’re working as an analyst in investment banking, you could be working for a buy-side firm (where you’ll be doing research on stocks owned by the company) or for a sell-side firm (where you’ll be evaluating securities for a particular industry). In order to find a role that fits you, it’s important to know not only the specifics of the industry but also those of the firm you’ll be working for so be sure to do some extra research on any company you’re applying to.

2. Take relevant classes and read as much as you can about the financial services industry

Building your knowledge of the financial services industry is not necessarily difficult, but it will take some time. If you’re a business, finance or accounting major, you’re likely already taking classes that will be directly relevant to this industry but it’s important to supplement this knowledge with additional reading on sites like DealBook and Investopedia. This is especially important if you’re not currently majoring in a related discipline since it will give you a good overview of the industry and help you decide whether it’s something you want to pursue.

Pro Tip: If you’re not a business or finance major, don’t worry. You can still build up your knowledge base by taking some accounting or economics classes to supplement your education. This is a great way of learning more about the field while still primarily focusing on classes related to your major.

3. Develop your skills by taking on an internship

Doing an internship is important for several reasons such as building relevant skills and gaining professional experience. It’s also a great way to learn more about a particular industry and to get a sense of whether you want to continue working in that industry after graduation. Since analyst roles vary depending on the field you choose to work in, having hands-on experience of a particular role will go a long way towards helping you pick an industry that’s right for you.

4. Build your professional network

Having a strong professional network is important in any field but it’s especially important in the financial services industry which relies heavily on networking throughout the recruitment process. To build a solid network that will serve you well throughout your career, it’s important to attend networking events, stay in touch with managers from your internships and to develop strong bonds with peers in your intern class.

Pro Tip: Another great way to build your professional network is by reaching out to alumni working in your field and setting up an informational interview. Most alumni are very happy to set time aside to have these meetings with students and recent grads from their schools and as an added bonus, you’re likely to find out about additional job opportunities.

Being a financial analyst can be as wonderful as it is challenging, giving you the opportunity to learn a lot very quickly and to gain a big-picture understanding of how businesses function. The best way to find out if being an analyst is right for you is by doing an internship and testing out the role first hand. And if you want to build some skills and confidence before applying for that internship, we recommend diving right in by looking at the quarterly earnings of several public companies and seeing how they’re performing. Even better? If you’re able to do so, we recommend putting aside a small amount of money and investing in some stocks. This will help you get your feet wet in the world of finance and it will also help you talk about investing like a pro.

Next, get more career tips for internships and entry-level jobs such as 6 Things to Do in Your First Week at a New Job and find answers to common interview questions such as If You Could Invest in One Stock, Which Stock Would it Be?

Top Consulting Interview Questions and How to Answer Them

Management consulting is an exciting field with plenty of opportunities for consultants to develop effective business strategies and help clients thrive in their respective industries. If you’re interested in becoming a consultant, you may be wondering about the best way to approach the interview process. For example, what should you expect and how can you prepare?

First and foremost, it’s important to understand that the consulting interview process typically consists of two types of interviews: (1) Fit interviews (also called experience interviews), which focus on your skills, background and professional aspirations, and (2) case interviews, which focus on your ability to analyze and solve problems.

Here are the types of questions you can expect in each part of the interview and what you need to know to answer them successfully.

Fit Interview Questions

The fit interview focuses on your background, skill set and your interest in the role. A typical fit interview includes questions like, “Tell me about yourself” and “What are your strengths?” but also focuses on your leadership style and your interest in consulting. Some key questions you’re likely to encounter include:

Why are you interested in consulting?

This question is designed to test your knowledge of the industry and your interest in becoming a consultant. When an interviewer asks this, it’s because they want to know that you’re genuinely interested in consulting as a career path and that you’re committed to bringing value to the firm and to your clients. To answer this question effectively, focus on one or two aspects of consulting that appeal to you (for example, the opportunity to learn about various business models or to develop new marketing strategies) and explain why you find them appealing. In addition to talking about your interest in the industry, you should also talk about your skill set and why it makes you a good fit for the role. Since interviewers look for candidates who are able to solve challenging problems with creative solutions, being able to demonstrate your interest and your potential impact will go a long way towards impressing the interviewer.

Tell me about a time you displayed leadership.

One of the major skills required in consulting is leadership. This is because a large part of consulting involves working with a team to strategize, develop and implement solutions related to the problems businesses face. When preparing your answer to this question, it’s important to focus on a time when you demonstrated leadership and to highlight the outcome of that situation. For example, if you were responsible for managing a charity fundraising event for your sorority, you should outline the steps you took to organize the event and explain how those steps led to a successful outcome.

Why do you want to work for this firm?

This question is designed to test your knowledge of the consulting industry and your motivation for picking a specific firm. When answering this question, it’s important to highlight some of the key reasons for your interest in the firm you’re interviewing with. For example, if the firm is credited with pioneering a specific approach to marketing or revolutionizing a specific industry, mention this. You should also talk about the company’s values and how they align with your own. For example, if you have an entrepreneurial spirit and you want to work alongside others with the same drive, it’s important to highlight this in your answer. By demonstrating how your skills, interests and values align with the company you want to work for, you’re likely to impress the interviewer and get one step closer to landing the job.

Pro Tip: Doing your research on the firm you’re interviewing with is extremely important. You can do this by attending company info sessions on campus (if they’re offered) and by visiting the company’s website to learn more about their work and what they value. When preparing for your interview, focus on the aspects that really resonate with you and refer to those in your answers.

Case Interview Questions

The case interview is the counterpart to the fit interview and it’s designed to test your problem-solving ability. During this part of the interview, you’re likely to encounter questions that focus on your ability to assess a situation and provide a structured, solution-focused answer. The types of case interview questions you’re likely to encounter include:

Market-sizing questions

Market-sizing questions (also known as guesstimate questions) are designed to challenge your ability to come up with reasonable assumptions and estimations in situations where you have limited information. Questions can include things like, “How many wheelchairs are purchased annually in the U.S.?” or “How many people wear green on any given day in New York City?” To answer market-sizing questions, it’s important to ask relevant follow-up questions to gather additional information. Once you have all of the facts related to the case, you should come up with an answer that shows that you’ve considered the different factors at play in determining the size of the market (e.g. groups of people who are likely to be wheelchair users, age demographics, etc.) and then deliver the answer in a structured way, explaining your thought process along the way.

Pro Tip: Treating each case as a presentation is a great way to ensure that you’re structuring your answer in a clear and engaging way. In order to do this, you should sketch out your approach on a sheet of paper, explaining the different factors, the assumptions your draw from them and your answer.

Segmentation questions

Segmentation questions typically follow on from market-sizing questions and are focused on testing your understanding of more detailed market segments. Going back to the wheelchair example in the previous case, a segmentation follow-up question could be, “What are the different segments of the wheelchair market in the U.S.?” To answer this question effectively, it’s important to once again ask the interviewer questions designed to further your understanding of the case. For example, you can ask whether you should consider manual and electric wheelchairs separately or whether different types of healthcare facilities would constitute different segments. Once you’ve gathered the data, come up with a structured answer focused on three different segments of the market (in this case, those segments could be hospitals, healthcare facilities and personal users). When explaining your answer, be sure to touch on each of these segments and to explain the thought process behind each one.

Data analysis questions

Analyzing and summarizing data is a big part of a consultant’s day-to-day tasks, and data analysis questions are designed to test your ability to do this effectively. These questions typically involve being presented with data and asked to identify key insights related to business growth or market size. In order come up with a great answer, it’s important to analyze the various aspects of the data you’re presented with and to identify unusual or unexpected trends such price changes or sharp increases or decreases in sales. Once you’ve identified these insights, lay them out for the interviewer as you would in a presentation, referring to the original data for emphasis.

Value proposition questions

Being able to determine the value of a business is an extremely important part of being a consultant and value proposition questions are designed to test your understanding of this concept. An example of a value proposition question might be: “The client is a restaurant in San Francisco. Their main customers are locals from the Bay area. What are some factors that those customers look for in a restaurant?” To answer this question effectively, it’s important to first identify the different factors at play (type of food, location, price, etc.) and then come up with an answer based on how each of those factors would affect what customers look for in a restaurant. When presenting your answer, be sure to lay out the different factors you’ve outlined in a structured way, while explaining how each one impacts the overall value proposition of the restaurant.

Although consulting interviews often involve several different types of questions, the key to doing well is always the same: practice. Work with classmates and friends to run through fit and case interview questions and come prepared with relevant answers to questions you’re likely to encounter. Most of all, try to relax and enjoy the interview process.

Working in management consulting is a wonderful opportunity to learn about various types of businesses and to help companies reach their goals. And although interviewing for a management consulting role might seem a bit intimidating at first, by knowing what to expect and practicing for each part of the interview, you’ll be able to prove that you’re a great fit for the role and that you would be an asset to the company.

Next, get more career tips for internships and entry-level jobs such as Top 10 Things You Should Look For in a Company and find answers to common interview questions such as Tell Me About Yourself.

How to Prep for a Case Interview

One of the keys to becoming a management consultant is successfully navigating the interview process. This involves being able to talk about yourself and your experience during the fit (or experience) interview and also demonstrating your problem-solving abilities and analytical skills during the case interview. Although the case interview might seem a bit intimidating at first, with a good amount of practice and a structured approach, you can ace the questions and get one step closer to landing the job.

Here are some case study interview tips to help you prepare.

1. Know what to expect from a case interview

Case interviews consist of several questions designed to test your problem-solving abilities and your analytical skills. These questions come in three formats: 1) Creative questions such as, “What are the different segments of the wheelchair market in the United States?” 2) Market-sizing questions such as, “How big is the market for eyeglasses in the U.S. this year?” and 3) Analytical questions such as, “Given this data, synthesize and determine the best approach for entering the Indian market and doubling revenue of Company X.”

While there may be some people who have a natural ability to answer these types of questions, most people need to establish a framework for solving these sorts of problems. This is where having a structured approach comes in.

Here’s how to come up with your answer:

Frameworking: Lay out a logical path to the answer by analyzing each part of the question in turn and then looking at the question as a whole. You can use specific frameworks to do this (which you can find in prep books like Case in Point), but you should keep in mind that you need to be able to adapt these frameworks to the particular question you’re answering.

Data gathering: Ask questions that will give you a better understanding of the problem and use the answers to reframe your thinking. Once you’ve obtained some additional information, repeat it back to the interviewer to make sure that you didn’t miss anything. After all of the information has been presented and you’ve asked your follow-up questions, you can ask the interviewer a final catch-all question like, “Is there anything else I should know about?” This will give the interviewer a chance to offer you any remaining information before you begin your analysis.

Pro Tip: If you’re going to make an assumption during the data gathering process, you should be explicit and tell the interviewer the exact assumption you’re making. This will show them that you’re approaching the problem thoughtfully and filling in the gaps in a strategic way.

Analysis: Once you have your framework in place and you’ve gathered the necessary data, ask the interviewer for 30 seconds to analyze the information. Then, combine this information with your own assumptions about the problem to come up with your answer. Having sheets of paper in front of you and actually drawing out slides in front of the interviewer can be especially effective here since consulting relies heavily on presentations to deliver solutions to clients. Be sure to explain every step of your analysis as you go through it since this will give the interviewer a chance to step in if you make a mistake or go the wrong way.

Recommendation: Now take the output and turn it into something actionable that the client can use, ensuring that your insights are data-driven and your assumptions are explicitly stated. For example, if you’ve discovered that a client’s product does best with a millennial consumer base and millennials are much more likely to buy these sorts of products online, your recommendation could be that the client increase their eCommerce efforts, focusing specifically on promoting their products through Amazon and Facebook.

Delivery: The way you deliver the solution is as important as the solution itself. Combining an articulate, structured, confident approach with humility is key here since you need to be able to convince the client that your solution is both solid and data-driven, while also leaving room to make adjustments as needed.

2. Practice interviewing with other people

Being able to solve problems quickly and consistently is all about practice. This is especially true because case interviews don’t test what you know, they test how you think. The most important skills to develop are mental agility and consistency, and practicing with others is the only want to ensure that you can develop these skills effectively. This is for two reasons: The first is that you’ll get feedback on different aspects of your problem-solving and communication skills and the second is that you’ll learn how to communicate your answers clearly to a broad range of people.

3. Look at everyday problems as case studies

Analyzing case studies from a book will certainly go a long way towards preparing you for the interview process but to really train your brain to think analytically and creatively all the time, it’s important to start thinking about everyday issues in the same way you would a case study. To do this, it’s not necessarily important to create real-life scenarios that relate to specific types of questions (creative, analytical or otherwise) but to practice shaping your thoughts and decisions in a very structured way. It’s important to remember that practicing for the case interview is about training your brain to think of the world at large as a problem waiting to be solved.

By knowing what to expect from the interview process and coming up with a structured approach for analyzing case studies, you’ll be sure to navigate your case interview successfully and make a great impression on the interviewer.

Next, get more career tips for internships and entry-level jobs such as 6 Things to Do in Your First Week at a New Job and find answers to common interview questions such as Are You Willing to Travel?

5 Common Case Interview Mistakes and How to Avoid Them

Interviewing for a management consulting role can be a challenging and exciting process. If you’ve already read up on consulting interviews, then you know that they involve a two-part process consisting of a “fit” interview (also known as an experience interview) which focuses on your background and experience, and a case interview which focuses on your ability to solve problems creatively and effectively. And if you’re preparing for the interview process, you might be wondering not only about what you should be doing but also about what NOT to do.

Here are some of the most common case interview mistakes and tips on how to avoid them.

1. Not having pens, pencils or paper

In our technology-driven world, we usually rely on our laptops and phones to help us take notes and transmit information, but in a case interview it’s important to have pens, pencils and at least three blank sheets of paper available since you’ll be using these to map out your answers and present your solution to the interviewer. When preparing for the interview, be sure to pack a portfolio folder with spare copies of your resume (enough for each person you’ll be meeting with) a stack of blank white paper and several pens and pencils. This will help ensure that you’re able to map out your answers in a clear and impactful way.

2. Not having a structured answer

Few things are as important in consulting as having a structured answer. This is because cases are essentially problems that need to be solved. To structure your answer effectively, it’s important to understand how to create a framework and then use that framework to develop a clear and direct solution to the problem. By thinking through the problem in a focused way, you’ll be able to deliver an answer that is much more likely to resonate with the interviewer and to help you land the job.

3. Not taking time to think

Although consulting is considered an industry where you always have to think on your feet, taking the time to analyze and solve a problem carefully is incredibly important during the case interview since it will increase your chances of delivering a great solution. How much time? We recommend 30 seconds. This will give you enough time to assess the case and start formulating a solution without making you seem unprepared or unable to think on your feet.

Pro Tip: Always ask the interviewer if it’s okay to take time to think and, if you’re going to do so, be specific about how much time you need. So if you ask for 30 seconds, be sure you only take 30 seconds though it’s okay to take less time than you asked for.

4. Not preparing for the fit portion of the interview

Although the case interview might seem like the more challenging part of the interview process, it’s important to remember that both parts are equally important and that preparing for each one is key to a successful outcome. The best way to do this is by researching some of the most commonly asked fit interview questions and practicing your responses with the same structured approach you use to practice case interviews.

5. Not talking through your process

Since interviewers use case studies to understand how you think, walking the interviewer through your thought process is incredibly important. In fact, even if you deliver a solid answer during the interview you’re unlikely to be successful unless the interviewer has a sense of exactly how you arrived at that answer.

Pro Tip: Talk through each point of your answer in a detailed way, offering the interviewer an overview of the solution before breaking it down into segments and explaining how each segment contributes to the whole. This process will not only make your delivery more effective, it will also help you slow down and think about the viability of the solution as you discuss it.

Although it’s not always possible to avoid mistakes during the consulting interview process, by knowing what to watch out for, you’ll be more likely to avoid common mistakes and to ensure a successful outcome.

Next, get more career tips for internships and entry-level jobs such as 10 Tips for the Perfect Cover Letter and find answers to common interview questions such as Are You Willing to Travel?

Career Opportunities for Architecture Majors

An architecture major is a great opportunity to develop both technical skills and creative ones. And because of the broad range of skills involved in this major, students studying architecture can find career opportunities in many industries including interior design, urban planning and construction management.

Here are some of the many fields where you can use your architecture degree:

Architecture

The most obvious career option for architecture majors is also the most popular one. By working as an architect, you’ll be designing buildings for a range of clients including large corporations. The key to finding a specific type of architecture that fits your personality is to ask yourself what kind of buildings you’d like to design. Whether the answer is giant skyscrapers or single-family homes, identifying the types of structures (and clients) you’d like to work with will help you find a role at an architecture firm that fits your style.

Interior Design

Another popular field for architecture majors is interior design. This involves coming up with designs that maximize the efficiency and style of interior spaces. A designer breathes beauty and life into a space, while also making sure the designs are safe and functional. Just like with architecture, working in interior design is all about find out what types of spaces are most appealing to you and focusing your energies there.

Construction

Whether working to build a room, a patio or a cute little cafe, architecture majors can start a career in construction management where they will be involved in coordinating building processes. This can include everything from preparing contracts to tracking the progress of craftsmen to ensuring that the right materials are available for each project. This is a great role for someone who is interested in the management aspect of construction.

Urban planning

An architecture major can also specialize in urban planning, where you make the best use of community land by coordinating, developing, analyzing and reviewing resources. As an urban planner, you’ll work alongside public officials and community members to help an area adapt to evolving problems, goals and economies. It involves not just systematic planning, but also creativity, two key factors that emerge from an education as an architect.

Business

The general skill set you’ll acquire as an architecture major transfers well into many fields of business. These industries require just as much of planning, conceptualization, communication and attention-to-detail as jobs in architecture and design. As a result, architecture majors can sometimes find themselves in the roles of project managers or directors, working to build companies rather than the buildings that house them.

Education

Your degree in architecture can also be put to use in education, whether this is through teaching high school math or conducting a seminar on the basics of interior design at a community college or private institution. Your architecture major can also put you on the road to earning an advanced degree, making you eligible for a teaching career in a university setting.

A major in architecture puts you in the running for some incredibly satisfying career opportunities. The best way to find out which one is right for you is to pick a field that interests you and then find an internship that will give you the hands-on experience you need to make your decision.

Next, learn more about this college major such as 6 Things to Do in Your First Week at a New Job and get more career tips for internships and entry-level jobs such as Why Do You Want to Work Here?

How to Get a Job at an Art Gallery

If you’re passionate about art and interested in working at an art gallery, you might be wondering about what a career in the art world looks like. For example, what types of job opportunities are available in a gallery setting and do you need to be an arts or design major to be eligible for them? To find out how to land a job at an art gallery, we spoke with Melanie Kimmelman, a promotion and events coordinator at the David Zwirner Gallery.

Here are some of the key things you need to know about working in the art world.

What types of art gallery positions are there?

Although it’s common to think that most art gallery jobs are art-focused, the reality is that there are plenty of other opportunities too. Typical jobs at a gallery include positions such as a gallery associate, an events coordinator, a social media manager and an office manager. In short, regardless of your major, you’re likely to find an opportunity that works for you. The key is to be passionate about art. “I handle all events related to exhibition openings, dinners and cocktail parties and I also do a lot of publicity to support exhibitions,” Melanie explains about her position as an events coordinator, emphasizing that like most roles in a gallery setting, her role is a cross-functional one. In order to succeed in this type of setting, it’s important to be truly passionate about you’re doing and to be well-versed in what’s happening in the art world.

What types of skills do you need in order to work at an art gallery?

Although there is a lot of variation in the types of positions you can find at an art gallery, one thing remains constant: the ability to work across different departments. Some of the skills that are crucial to any type of gallery position are:

Knowledge of the industry

Even if your position doesn’t directly focus on the art or artists represented by the gallery, having a solid understanding of the industry is key. “I work with every single artist that we represent and I think that’s really exciting because it builds my knowledge of the company as a whole,” Melanie says, emphasizing that this knowledge helps her better represent both the gallery and the artists.

Communication skills

Being able to communicate effectively is important in any field, and in the fast-paced art world, it’s especially crucial. This is because you’ll often be coordinating events, exhibitions and art deliveries across multiple departments and with outside teams. In order to ensure that everything goes smoothly, it’s important to develop a communication style that is clear and effective.

Organizational skills

“The gallery world is very fast paced,” Melanie explains. “You have to be able to juggle all of your day-to-day duties and be able to prioritize and drop things when something is urgent.” The key to doing this effectively is to ensure that you have a clear understanding of your priorities and to manage your workflow accordingly.

 

How do you get your foot in the door for an art gallery job?

As is the case with most competitive industries, the key to landing a job at a gallery is to develop your skills while also growing your professional network. Melanie emphasizes that although her education as an art history major played a big part in developing her passion for art, it was her internship experience that paved the way for her career. “While I was in college, I interned at a museum for two years over the course of my junior and senior year,” she says. The contacts she made there landed her a job after graduation. “I maintained a relationship with my old boss and as soon as there was a position open, she reached out to me.” The result was a full-time job that successfully jump-started her career.

An art gallery job is a great option for those who are passionate about art and interested in learning about its many facets. To find out if a career in the art world is right for you, we suggest taking on an internship and getting some first-hand experience in the field.

Next, learn more about this college major such as __________________ (link) and get more career tips for internships and entry-level jobs such as ____________________ (link).

Investment Banking vs. Management Consulting: How to Decide

For ambitious college students who are interested in a challenging and exciting career, the choice often comes down to two industries: investment banking and management consulting. Why these industries? Beyond their high earning potential and their reputation as intriguing fields, the two share a number of traits such as the fact that they offer excellent exposure to different business models and a chance to learn about what makes companies profitable.

Here are some things to consider if you’re deciding between these two fields.

How do the investment banking and management consulting career paths compare?

Investment banking generally begins with a summer internship followed by a two-year entry-level role as a financial analyst. For those who stay in banking, this is typically followed by another two to three years as an associate before moving up the ladder to VP and managing director. Similarly, most consultants start out in a business analyst role for their first two to three years before moving on to an associate or senior consultant role.

Although the career tracks for banking and consulting follow a similar path, it’s important to note that investment bankers are much more likely to do an internship before applying for an entry-level role. This is because banks do the bulk of their recruiting during internships. Consulting firms, on the other hand, don’t put quite as much emphasis on internships, though an internship is definitely recommended for anyone interested in pursuing a consulting career.

What are the different skills you need in each industry?

The skills needed for these industries are also quite similar though there are some notable differences. For example, although both industries rely on analytical, numbers-driven approaches to problem-solving, investment banking focuses on the financial side of business and therefore requires strong Excel skills and a solid understanding of financial modeling. Consulting, on the other hand, focuses on the operational aspects of business and requires strong PowerPoint skills as well as the ability to communicate effectively.

Pro Tip: Because of the huge overlap in skillsets, we recommend focusing less on your specific skills and more on your interests. For example, if you’re interested in the financial aspects of business, then banking is probably the industry for you. On the other hand, if you’re interested in the operational side of business, then consulting is most likely a better fit.

What does work-life balance look like in these industries?

If there’s one thing consulting and banking have in common, it’s their reputation for long hours. In fact, both industries are known for having some of the hardest-working people around. So what do those hours really look like and which industry offers more of a work-life balance? It depends. Although investment banking is generally considered to have longer hours (with 75+ hour weeks being common), it typically involves very little travel. Consulting, on the other hand, generally has more reasonable hours (typically around 60 hours a week) but can involve as much as four days of weekly travel. When deciding between these industries, it’s important to determine your comfort level with traveling and also your willingness to trade shorter hours for less time at home.

How do investment banking salaries compare to consulting salaries?

Investment banking and consulting are both lucrative fields, but when it comes to earning potential (at least in the first decade), banking comes out on top. This is because entry-level salaries for management consultants typically start at $63,000 (including bonuses), whereas entry-level roles for bankers typically start at $100,000-$125,000 (including bonuses). Although significant salary increases are standard in both fields with each year of additional experience, it’s not until consultants and bankers reach partner/managing director levels that their salaries start to even out at the $500,000 and above mark.

With exciting opportunities for learning and advancement, investment banking and management consulting are both great career paths. The only way to know which one is right for you is by taking on an internship and experiencing these fields firsthand.

Next, get more career tips for internships and entry-level jobs such as How to Write a Resume That Stands Out and find answers to common interview questions such as Tell Me About Yourself.

Why Investment Banking is a Great Field for Recent Graduates

Investment banking is a popular field for recent graduates, particularly among business and finance majors. Although it’s definitely a competitive field, a lot of its appeal comes from the fact that it’s also a field with a lot of opportunities and a high earning potential. If you’ve already gotten a general idea of what investment banking is and how you can become an investment banker, then you’re probably interested in what you can get out of it and how this can shape your career path in the long term.

Here are some of the reasons why investment banking is a great field for recent graduates.

You’ll learn a lot very quickly

Due to its fast-paced nature, investment banking offers a lot of opportunities for learning and skill building, particularly in the areas of business and finance. From the moment you start your first entry-level job (or internship) you’ll be exposed to a lot of information about financial trends and markets, as well as information about what makes businesses sustainable. Beyond that, you’ll also be able to learn soft skills like communication, self-confidence and the ability to handle critical feedback. These are skills that can take years to develop in other professional industries and learning them quickly means that you’re likely to advance much faster in your career as a result of having these experiences.

Your earning potential will be among the highest of any recent graduate

If you’ve done your research on investment banking, then you know that it’s a field with a very high earning potential. In fact, as an entry-level financial analyst, you’ll start off earning anywhere from $100,000-$125,000 (including bonuses) in your first year. After two years in a financial analyst role, your earning potential will go up to $150,000 to $250,000 and will increase significantly with each year of additional experience. By the time you become a vice president or managing director, you’ll be earning upwards of $650,000.

You’ll develop transferrable skills that you can use in any profession

Although many investment bankers choose to stay in the industry and progress through the career track from financial analyst to managing director, other bankers decide to move into related areas of finance like private hedge funds or they choose to leave finance entirely to run or advise startups. Regardless of what you decide to do later on in your career, the skills and business savvy you develop as an investment banker will help you transition into almost any other professional industry. This is great news for entrepreneurs who are interested in running their own businesses but want to build up their knowledge and skill set first.

You’ll develop a strong professional network

Having a strong professional network is incredibly important as you move through your career, and being able to build that network early on will serve you well for years to come. As an added bonus, because investment bankers often move into other fields as they advance in their careers, you’re likely to come across former colleagues no matter where you end up.

Starting an investment banking career as a recent graduate is a great way to develop general business knowledge and skills that can transfer to any other professional industry. So whether you’re a business major or a history major, there’s likely to be an entry-level opportunity that’s right for you.

Next, get more career tips for internships and entry-level jobs such as How to Get a Mentor at Work and find answers to common interview questions such as What Are Your Strengths?