The Secret Investment Banking Career Path That 90% of Students Still Don’t Know Exists
Most students, when asked how people break into investment banking, will usually respond with: “Go to a top school, get a summer analyst role, get converted, and bam, your in.” For years, I believed that story. It felt like if you did not go to an Ivy League or some top global B-school, you had no chance.
Image source: BIA
Then, I found out something surprising, a completely different, much more accessible route that most students genuinely have no idea exists. It’s not based on going to elite schools, family connections, or exclusive connections. It is based on one thing: actual deal experience before you even set foot in a bank.
This blog showcases the lesser-known route in an easy-to-follow manner supported with actual examples, hiring trends, and advice that you can use today. If you are someone going through an investment banking course offers the ability to market yourself for IBD.
The Myth
Investment banking has carried a bit of a “secret society” feeling for the longest of times. Students assume that the only way of getting into IB is through:
Top university → campus placement → summer analyst → full-time offer.
And while this is one possible route into IB, it is certainly not the only route. And it is definitely becoming less and less of the “only” route, as the firms continue to make changes to their hiring practices, in light of the changing financial services hiring market:
- Banks need different skills sets, more modelling, more data, more execution capabilities.
- Recruiters are looking more and more often for candidates with experience in actual deals, not just nice diplomas from having attended a university.
- Overall, the changing environment in financial services hiring at the global level shows that banks are looking for skills over pedigree.
Despite this change, because this isn’t widely discussed, 90% of students still pursue the same crowded and traditional path, while a very real alternative path has become significantly more reliable and frankly more practical.
The Secret Path (Most Students Never Hear About)
Here’s the path in one sentence:
Start your career in a deal-adjacent role → build real transaction exposure → use that experience to lateral into investment banking or private equity.
Deal-adjacent roles include:
- Big 4 Deal Advisory / Transaction Services
- Big 4 Financial Due Diligence
- Corporate Banking (Credit, Leveraged Finance, Structured Finance)
- Corporate Development (in large companies or startups)
- Mid-market M&A boutiques
- Fintech analytics roles (valuation, lending, underwriting)
These jobs give you something students from even the top universities don’t have: real-deal execution experience.
Why this path works so well:
- You interact with clients early.
- You build financial models that actually influence decisions.
- You see multiple transactions within your first year.
- Your resume becomes “lateral-ready” very fast.
- Banks prefer hiring analysts who require minimal training and can hit the ground running.
This is why a huge majority of lateral analysts in global banks today actually come from these backgrounds, not from universities directly.
Examples are everywhere, TS analysts moving to IBD, corporate banking analysts shifting to leveraged finance, or corporate development professionals transitioning to mid-market PE.
It’s the same skill set, delivered in a more accessible environment.
Why Recruiters Love This Path
Recruiters at IB firms don’t just want someone who can solve a technical test. They want someone who understands what a real transaction feels like.
That’s why candidates from deal-adjacent backgrounds stand out:
- They’ve already been on live deals.
- They understand deliverables, deadlines, and client pressure.
- They can build models without handholding.
- They speak the bank’s language, valuation drivers, commercial insights, industry dynamics.
- They know what it means to be in the trenches during long deal cycles.
Plus, the hiring landscape is evolving. Investment banks want analysts who bring a mix of deal expertise + technical + data skills, especially as 2025 hiring emphasizes analytical and tech-driven competencies.
This is where strategic training like an investment banking course or a financial analytics course helps you sharpen the exact skills modern IB teams use daily.
Step-by-Step Roadmap (0–3 Years)
Year 0 (Student Phase)
Your only goal here is to build foundational skills and get any finance exposure.
Focus on:
- Basic accounting + Excel
- One solid valuation or investment banking course
- Internships in anything finance-related
- Learning the story behind a few real transactions
- Networking intentionally (analysts, alumni, boutique banks)
Even a small internship at a CA firm, local VC, startup, or boutique advisor counts, because it’s the first stepping stone.
Year 1: Enter a Deal-Adjacent Role
Once you graduate, your goal is not to “get into investment banking immediately,” but to get into a role as close to transactions as possible.
Ideal roles include:
Big 4 Deal Advisory / Transaction Services (TS)
This is one of the most proven routes. You work on:
- Due diligence
- Quality of earnings
- Industry benchmarking
- Transaction modelling
You get exposed to deals across industries, often working directly with M&A advisors and PE firms.
Corporate Banking
Credit analysis, structured finance, and leveraged lending give you exposure to:
- Balance sheet evaluation
- Financial modelling
- Deal structuring
Many analysts in IB today actually started in corporate banking before lateraling.
Corporate Development
You join the M&A arm inside a company, giving you first-hand exposure to:
- Valuations
- Strategic acquisitions
- Portfolio restructuring
This is extremely attractive to investment banks later.
Boutique M&A Firms
Smaller teams, more responsibility, and direct exposure to CEOs and founders. Perfect for building hands-on experience early.
Year 2: Building Your IB-Ready Resume
By now, you’ll have worked on real deals, even if they are smaller, mid-market, or industry-specific. This is where you shape your experience into IB language.
Focus on developing Advanced Financial Modelling Skills
At this stage, mastering:
- DCF
- LBO basics
- Comps
- Transaction comps
- Sensitivity analysis
…makes you stand out. A structured financial analytics course can help you strengthen these skills in a more specialized way.
Sector Expertise
Recruiters love candidates who have deep knowledge in one sector:
- Tech
- Healthcare
- Industrials
- Consumer
- Fintech
- Energy
If your deal-adjacent role gives you concentration in one sector, highlight that.
Understanding the Deal Lifecycle
You should be able to discuss:
- How a deal originates
- The role of advisors
- Buy-side vs sell-side processes
- Due diligence sequencing
- Synergy assessments
According to a hiring survey by eFinancialCareers, candidates with real “deal cycle exposure” outperform traditional candidates by a wide margin in lateral hiring.
Year 3: Make the Move Into Investment Banking
This is the phase where you start applying seriously for lateral IB roles.
Step 1: Network Intelligently
Reach out to:
- Analysts
- Associates
- VP-level hiring managers
Your messaging should highlight:
- Your transaction experience
- Your financial modelling capability
- Your deal exposure
- Your knowledge of industry trends
Step 2: Prepare for Technical + Deal Interviews
Expect questions like:
- “Walk me through a recent deal you worked on.”
- “Explain a valuation method used in your project.”
- “Tell me how financial statements were affected during the transaction.”
Your real-world experience will shine here, far more than any classroom-based answer.
Step 3: Update Your Story
Your narrative should clearly explain:
- Why finance?
- Why deals?
- Why now is the right time to move into IB?
- How your previous role uniquely prepared you for banking?
Once recruiters see your background and your execution exposure, the door opens, often much faster than you think.
Bonus: How an Investment Banking Course Helps at Any Stage
Image source: Investopedia
A well-structured investment banking course becomes extremely valuable across all stages of this journey because it helps you:
- Understand valuation frameworks
- Learn real financial modelling
- Build pitchbooks
- Decode deal structures
- Speak the language of investment bankers
Similarly, a financial analytics course strengthens your capability in:
- Data-driven decision-making
- Financial forecasting
- Business intelligence tools
- Quantitative analysis
These two skill sets together position you as a modern investment banking candidate, ready for a world where deals are increasingly data-driven and execution-heavy.
Conclusion
The biggest lie students believe is that investment banking has only one entrance, a top university and campus recruitment. The truth is, the alternate path is just as powerful, more accessible, and increasingly preferred by recruiters.
By starting in a deal-adjacent role, mastering modelling, gaining real transaction exposure, and gradually building your expertise, you create a far stronger, and more compelling, profile than someone who just followed the traditional on-campus route.
This secret path has already helped thousands break into IBD, PE, and venture finance roles globally, and it could be your route as well.
If you’re serious about investment banking in 2025 and beyond, this is your roadmap. Consistency, real deal experience, the right skills, and intentional networking will take you further than prestige ever will.
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