How to Get Into Investment Banking With No Experience: 9 Steps That Work
- Stephen Turban
- Jun 9
- 6 min read
Most students think “no experience” means they are already out of the running for investment banking.
Usually, it just means they misunderstood what banks actually care about.
I have seen students from non-target schools, liberal arts majors, varsity athletics backgrounds, and completely unrelated internships land offers at elite boutiques and bulge bracket firms. I have also seen students with finance clubs, boutique internships, and polished resumes strike out completely. The difference was almost never raw credentials.
It was execution.
Students without finance experience often make the same mistake: they see their background as a weakness instead of figuring out how to present it as a strength. They spend months trying to seem like finance candidates instead of focusing on the things that actually matter early on: technical skills, a strong story, and good relationships.
Investment banking recruiting is not a meritocracy, but it is also not random. There is a process. The sooner you understand this and learn how to position your background effectively, the better your chances will be.
This guide breaks down exactly how to do that.
Can you get into investment banking with no experience?
Yes. But you need to define “no experience” correctly.
Most students hear “experience” and assume banks only value previous investment banking internships. That is not true, especially for sophomore and junior recruiting. Banks are evaluating whether you seem capable, coachable, hardworking, and genuinely interested in the job.
A student with retail experience, campus leadership, strong grades, and good networking can easily outperform someone with a weak boutique internship and poor interpersonal skills.
The biggest misconception I see is students thinking they are disqualified before they’ve even tried applying.
What counts as relevant experience for investment banking applications?
More than most students realize.
Relevant experience can include leadership positions, sales jobs, research assistant roles, startup work, athletics, tutoring, entrepreneurship, or even difficult customer service jobs. If an experience demonstrates work ethic,it can be positioned effectively.
Banks hire people, not resumes. Your resume just determines whether someone gives you the first conversation.
1. Stop framing yourself as “behind”
Students without experience often waste time worrying instead of taking action. Recruiting doesn’t care if you feel late. It only matters when you start moving.
The fastest-improving candidates are usually the ones who accept reality quickly. Your resume may not be ideal today. Fine. Start fixing it today instead of obsessing over what other students already have.
A weak resume in September can look dramatically different by January if you move aggressively.
Concrete action today:
Write down every experience you already have, even if it seems unrelated. Then next to each one, identify skills relevant to banking: leadership, communication, analytical work, time management, or client interaction.
2. Learn accounting and valuation before you network heavily
A lot of students think networking is the first step. It is not.
You should know enough technical material to hold an intelligent conversation before reaching out extensively. Otherwise, networking calls become awkward quickly because you cannot engage meaningfully when bankers ask what interests you about deals or finance.
You do not need to become a modeling expert overnight. But you should understand the basics of accounting, valuation, and how the three financial statements connect.
Useful resources:
Concrete action today:
Spend one hour learning the three financial statements and another hour reviewing basic valuation methods like DCF, comparable companies, and precedent transactions.
3. Build “finance proof” immediately
Students think they need permission to demonstrate interest in finance. You do not.
If you lack internships, create visible proof that you are serious about learning the industry. That could mean writing short stock pitches, joining an investment club late, taking online financial modeling courses, publishing market commentary on LinkedIn, or participating in student-managed funds.
Taking initiative shows seriousness much more than just saying you’re interested ever will.
Concrete action today:
Pick one public company and write a one-page overview explaining what it does, how it makes money, and why you think the stock is attractive or unattractive.
4. Network earlier than feels necessary
Most students only network when they need something. The ones who succeed start networking before it becomes urgent.
By the time applications open, many strong candidates already have internal referrals and multiple bankers advocating for them informally. Relationship-building compounds over time.
This does not mean spamming 300 cold emails. In fact, that usually backfires. Good networking is targeted, thoughtful, and consistent.
Networking is also not a one-time informational call. The strongest candidates treat it as an ongoing relationship. They follow up thoughtfully, stay in touch over time, provide updates on recruiting progress, and continue building genuine rapport rather than only reaching out when they need something.
Ten strong relationships outperform one hundred shallow conversations.
Useful resources:
Concrete action today:
Send three personalized outreach emails to alumni or professionals with some connection to your background, school, hometown, or interests.
5. Fix your story before interviews start
Students without traditional experience often panic when asked, “Why investment banking?”
The problem usually isn’t their background. It’s that their story sounds like it was pulled from online templates.
Interviewers can immediately tell when a candidate memorized generic answers about “fast-paced environments” and “steep learning curves.” Your story needs to feel personal and internally consistent.
For example:
Why did your previous experiences lead you toward finance?
What specifically interests you about advisory work?
Why does banking make sense given your personality and goals?
A believable story beats a “perfect” story every time.
Concrete action today:
Write a 90-second answer to “Tell me about yourself” without using the phrases “fast-paced environment” or “prestigious industry.”
6. Target smaller firms first
Students without experience often apply only to bulge brackets immediately. That is usually a mistake.
Middle-market and boutique firms are more open to different backgrounds if you seem motivated, technically solid, and genuinely interested. They also frequently recruit later than larger firms, giving you more time to improve your profile.
More importantly, one boutique internship can completely change how future recruiters perceive you.
Your first finance role matters a lot because it shifts you from “unproven” to someone with real finance experience.
Concrete action today:
Create a spreadsheet with 30 boutique and middle-market firms. Include alumni connections, application timelines, and networking contacts.
Useful resources:
7. Treat technical prep like a class, not a side task
Students from non-traditional backgrounds often underestimate how technical interviews level the playing field.
If your resume is weaker, technical excellence becomes even more important because it reassures interviewers that you can handle the work.
Most students prepare inconsistently. They watch random videos, skim guides, then panic two weeks before interviews.
That approach fails.
Concrete action today:
Build a structured four-week prep plan covering accounting, valuation, merger models, behavioral questions, and market discussions.
Useful resources:
8. Use your non-finance background strategically
A lot of students try to hide their unconventional experiences. Usually, those experiences are exactly what make them stand out.
Former athletes often interview well because they understand discipline and feedback. Students with sales backgrounds tend to network better. Candidates who worked demanding hourly jobs often come across as more mature and resilient than peers who only accumulated resume lines.
One of the biggest mistakes candidates make is trying to sound like every other finance applicant.
Memorable candidates are easier to advocate for internally.
Concrete action today:
Pick one non-finance experience from your background and practice explaining why it made you better prepared for banking.
9. Understand the actual timeline
Students without experience frequently start too late because they assume recruiting happens senior year. For many firms, recruiting effectively starts sophomore year or early junior fall.
That does not mean you are doomed if you are late. But it does mean urgency matters.
A realistic transformation timeline usually looks something like this:
Month 1: Learn technical basics and improve resume
Month 2: Start networking consistently
Month 3: Add finance-related projects or experiences
Month 4: Begin mock interviews and technical prep
Month 5+: Apply aggressively while maintaining networking momentum
The students who break in are usually not the smartest. They are the ones who execute consistently for long enough.
Concrete action today:
Create a recruiting tracker with applications, networking calls, follow-ups, technical prep progress, and interview dates.
Conclusion
If you have no investment banking experience, the goal is not to pretend otherwise.
The goal is to show enough evidence that someone can reasonably believe you will succeed once given the opportunity.
That means building technical competence quickly, networking intentionally, and learning how to position your background instead of apologizing for it.
Most candidates without experience fail because they don’t take action early enough. They read forums, compare resumes, and wait to feel ready before starting.
That confidence usually comes after momentum, not before.
You do not need a perfect background to break into investment banking. But you do need a deliberate strategy.
Stephen Turban is the co-founder of Wall Street Guide and Lumiere Education. He graduated Magna Cum Laude from Harvard College in Statistics, worked as an Business Analytics Fellow at McKinsey & Company. He founded WSG to give ambitious students the same insider access to finance and consulting recruiting that top-school students take for granted.
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