Investment Banker Resume Template: Copy This To Get Into KKR (Or At Least, Something Almost as Good)


Uploaded by financialmodeling on 29.05.2012

Transcript:
bjbj In this video we are going to continue our series of investment banking resume templates,
and this time around we're going to be looking at an example of a resume template that you
might use if you're currently working in investment banking full time. Either as an analyst or
associate, or maybe if you've had some summer internships, or just a recent summer internship
in the field and you're interested in applying for other jobs in finance. Whether you want
to go back to banking full time or whether you're interested in moving to private equity,
hedge funds or another job on the buy side or maybe working corporate development at
a company. Just to go over who this template is going to be useful for once again, I would
summarize it as saying that it's going to be useful if you've worked in or are working
in full time investment banking, or in related fields like private equity and hedge funds.
Because you can actually take this same template and modify it a bit if you're working on the
buy side right now and you're trying to transition into something else. But the same principles,
many of the same ideas here, will still apply. Of course, it's also useful if you've had
internships in investment banking and you're trying to figure out how to structure your
resume right now. In terms of who it's not useful for, I would say that if you're applying
to business school, you probably want to have a resume that's a bit more balanced than this
one. You see that a lot of space here is taken up by this investment banking entry, which
is how it should be if you're applying to other finance jobs. But, I would say that
for business school you want to show that you're more of a well rounded person and have
more of a background than just finance. So I would probably not use it for applying to
business school. I would also probably not use it if you're looking for something outside
of finance, so if you're interested in transitioning and maybe you've worked in finance or banking
but you want to move on to something else, I would probably not use this for the same
reason. It's just too much of an emphasis on banking experience and not as much on everything
else you've done here. The other instance in which this template is not going to be
quite as useful is if you're older and more experienced. Maybe you're at the VP level,
or you're going to be soon, or your an experienced associate and you have dozens of deals to
write about. If that's the case, then probably what you want to do is take what we ve done
here and change it around a bit and have a separate page on your transaction, your client
or investment experience and compress this a bit and try to have a few more summary sentences
here instead. You'd have to change it around a little bit if you are older and more experienced
and you have a lot more clients, investments or transactions to write about here. Just
to go over the overall format now and the structure and compare it to the template that
we looked at before for the university student who's applying to investment banking. We see
that, actually, a lot of it's the same. The top here is the same with the name in a bigger
font than the rest and then your address, phone number and email address. I've relabeled
the section from Work and Leadership Experience to Professional Experience to reflect the
fact that once you're out there and working, or even if you've had significant internships,
I think it's more helpful if you focus on the work experience as opposed to student
groups, unless it's something truly extraordinary that you've done before. You also see that
the order, of course, is different. Because we now have our work experience here at the
top, starting with the bank that we're currently at, or the most recent bank that we were at.
Then we get into Education as the second to last entry and then we have this Skills, Activities
and Interests, which I've actually renamed to Skills, Certifications and Interests here
at the bottom. The order is different but a lot of the formatting here is the same,
and it's just a matter of changing around the order and keeping the fundamentals in
place and then emphasizing your banking experience over everything else on here if you're interested
in pursuing other jobs in finance after this. We see that the general idea here is, again,
as I've been mentioning, you want to emphasize finance. The most recent banking experience
you've had over everything else. So if you re a full time investment banker analyst right
now, this is basically, exactly what you want to be writing about. Have a summary sentence
here at the beginning as we've seen with the other resume templates that we've looked at.
Have that summary sentence and then get right into your transactions, your deals, your clients
you've worked with. If you're on the buy side, get into your investment experience, and you
can list other experiences on here. In this example, I'm giving a previous internship
or job and devoting a few lines to that here. This is fine to do, even if you're working
full time in the industry right now. If you're an analyst and you've had internships before
that, it's OK to write about one or two of them here, but I would keep it brief, especially
if they're not as relevant or not as related to banking as what you're currently doing
is. To go into more detail here on this investment banking experience entry, you'll see that
the summary sentence, a couple points that we want to hit on here. We want to say how
many deals we worked on. Some people make a big deal over whether you're saying live
deals or the opposite is non-live deals. I think it's a little silly to even worry about
this kind of stuff. I would just classify it all as deals. It really doesn't matter
either way. You just want to give them an idea of how much exposure you've had to clients,
and how much exposure you've had to actual transactions. Obviously, the more you have,
the better and your scope here, in terms of what you consider a deal, could be pretty
broad as we'll see later on. It does not have to be an officially signed client, it can
just be a potential situation where a company might be interested, maybe it's a targeted
buy side or sell side, where there's no official contract in place, but effectively, you're
working on a potential transaction. That's fine to count that type of experience as a
deal. Once you've stated that, then you want to go into detail and just list the different
types of deals you've worked on. I realize that the chances of you actually working on
sell side, buy side, M&A, LBOs, end debt and equity financings and even restructurings,
as we'll see down here, is basically zero, if you re in one group at one bank. Again,
keep in mind that this is just a template. You have to pick and choose from this list
if you've worked on types of deals outside the scope of this, like restructuring or bankruptcy
type deals, add those, obviously. If you haven't worked on some of these, then delete the ones
that you haven't worked on. Then what I normally like to do, is after summarizing the types
of deal and client activity, I like to give some idea of the overall kind of work we did.
You want to emphasize any type of valuation you worked on, merger and LBO models, any
type of other models. You could put standalone operating models in here. We could say, Standalone
Operating Models, Merger and LBO Models. I just didn't include it here because I was
already running out of space, but you could add all sorts of other items like that. But
it's really good to emphasize any type of valuation, any type of modeling work that
you've done because that's what plays, on the buy side, especially private equity tend
to value. They want people who know how to model, who know how to do due diligence. That's
actually another thing that you could add in here. You could say something like, at
the end here, you could say, And assisted with due diligence. You could add that in
as well. These are all points that are fine to emphasize in this summary sentence. I would
try to keep it to two to three lines or less, if possible. You can write two summary sentences
if you want to, but I would suggest it's better to keep it to one bullet, if at all possible.
Then spend the rest of your space and the rest of your time and energy focusing on the
transactions, the deals that you actually worked on here. For actually picking the deals,
the transactions that you're writing about here, there are a couple of guidelines to
keep in mind. I would say that, in general, and this is more applicable if you're working
in the field full time right now, I would try to have a mix of higher profile larger
transaction size deals, and then transactions where you actually contributed more and learned
more and can speak about them better in interviews. For example, if you worked on something really
high profile, like the Microsoft Yahoo! potential transaction, chances are that, as an analyst,
you probably didn't do all that much in the way of substantial work. Because there are
so many banks involved, so many different people involved at all levels and it was a
huge deal. Managing directors would probably get personally involved in that type of transaction,
but if you worked on it, it's still good to include here. Because it's going to capture
a recruiter's attention, it's going to attach anyone's attention who's just quickly scanning
your resume. I would try to include a mix of those and then a mix of deals where you
actually contributed more, did more modeling, had more responsibility and those types of
experiences. I would say it's good to aim for two, three, possibly four deals to write
about here. Having just one makes the resume look a little odd and so I think between two
and four is the ideal number. Again, it depends on what's on the rest of your resume, how
much space you have, how much you really did, but I would say try to shoot for somewhere
in that range. Also, in terms of picking the types of deals to write about, you'll see
that in this case. Again, as I mentioned before, we have a sell side M&A deal, we have a buy
side M&A deal. We have an LBO, we have an IPO, we have a bankruptcy, a restructuring
deal here with this Section 363, Asset Sell. You re not actually going to have all these
different type of experience. What I would say is that, in general, it's better to write
about M&A type deals and in particular, sell side M&A for the most part. Sell Side M&A,
LBOs are good to write about, especially if you're applying to private equity. Restructuring
can also be really good to write about, more so, if you're applying to a distressed investing
firm or something along those lines, maybe a turnaround investing firm. Something like
that. IPOs are OK, but as you can see here, in a lot of cases you just don't have as much
quantitative material to write about. So I would try to stay away from them if you can.
It's not the end of the world if you've mostly worked on IPOs, but I would try to stay away
from them, if possible. In terms of other types of deals here, convertibles, debt financings,
those are fine to write about. It really comes down to how much modeling work you did and
how much you contributed to it. Again, it depends greatly on your own experience with
it, but I would say try to bias it toward deals that involved M&A, restructuring, LBOs,
perhaps anything with debt, and try to stay away from IPOs and similar deals. If you're
an intern or you've been an intern before and you're looking at this trying to figure
out what to do, don't worry about having all this deal experience. What I would say is,
look at what you've done over the past few months, and try to do the best you can with
that. I realize that, in a lot of cases, you may not have actually worked on real deals,
and sometimes you might have just helped out with a valuation of a company, maybe sometimes
you just helped out with researching potential buyers for the company, something like that.
In those cases, what you want to do is have a bullet like I'm going to enter here and
say, Valuation of, and then you give the company's industry right here and you could have the
dollar amount right here. You could say, Valuation of $500 million software company, we could
write here. Then you can just go into detail on what you did there. It's OK that this wasn't
an official deal because it's still going to be good to talk about in interviews. The
same applies if you've just researched a buyer list for someone. You could even frame it
as what we have here, which is a potential acquisition of another company. Those are
a few ideas to keep in mind if you are an intern or you've been an intern and you're
trying to figure out what to write about on your resume. Another question I get a lot
is, What happens if this deal has not yet been announced? What happens if it hasn't
closed yet or what happens if it hasn't been announced? I would solve this problem by just
listing potential in front of anything that's in that category. So potential or pending
, you could have pending here, if that's the case and instead of giving the company's name,
we could just describe the industry. It's perfectly fine if we said here, Potential
$500 million sale, software company. That would be a perfectly fine entry to list right
here. In terms of writing the actual bullets about each of these different experiences,
each of these different transactions you worked on, again, I would say try to bias it toward
any quantitative work. You want to be talking about valuations, public company comparables,
precedent transactions, DCF. You want to be talking about any type of modeling work you
did. We see here under the LBO one, we see that this person has worked with the CFO to
create a five year financial projection for use in lender presentations. They created
an LBO model so they can speak to that in interviews. In the bankruptcy deal, they talk
about liquidation analysis, trading multiple precedent transactions. They talk about bankruptcy
related adjustments to normalize EBITDA. You don't necessarily have to write about this
type of stuff. Maybe if you've done more qualitative things in your internship, that's fine. We
see here under the IPO example that they're really just writing about qualitative stuff.
Customer calls, due diligence, writing of the S-1 registration statement, that's fine.
If you can include anything on the quantitative part, as we have here about selecting public
company comparables, that's fine. you can include that, but not everything has to be
100 percent focused on the modeling and the valuation type stuff. It's good to focus on
that if you can, but it's fine to include qualitative things if they somehow impacted
the deal, or if they're unusual and you can speak about them in interviews and impress
people. We see an example of that right there. This formula enlisted 100 potential buyers
that was later used in Chapter 11 proceedings to show the sales process resulted in fair
price. This is something specific to bankruptcy and restructuring type deals, but this is
something that often comes up in court after the fact. Where they re trying to assess whether
or not the bank made a good effort and got a fair price for the client because obviously
the shareholders are probably not going to get too much in a bankruptcy. This is something
that comes up a lot. So in this case, if you've done something qualitative like this that
has actually impacted the deal, it's fine to list and fine to go into and if you re
interviewing at a distressed M&A shop, for example, or distressed investing firm, it's
actually likely to come up in a course of interviews. Another question I get is, How
much detail should you go into on each of these specific transactions? Again, there's
no simple answer. It really depends on what you did and how much you have on the rest
of your resume. I would say that you want the bulk of the space on your resume to be
devoted to your investment banking experience, so you need to go into the level of detail
for each one that's appropriate to get you to that level. On this particular resume template,
I've included an either/all, one bullet sentences and use semicolons to describe each of these,
or in one case here at the bottom for the restructuring deal, I actually have two bullets.
I think that's a good format to follow. One structure that you could use is maybe have
a quantitative bullet and then a qualitative bullet, so that's one thing that you could
do. But, again, it really depends on the deal and how much other information you have on
your resume, but this is a good guideline to follow, that you really want to say what
you did, how it impacted the negotiation or the sales process or the deal process, and
anything else you can, related to that. You want to bias the results here. I've mentioned
before that when you have a resume like this, you want to structure it in terms of the specifics
that you did, and then the results. In a lot of cases in investment banking, it's hard
to come up with genuine results, especially if you're a junior banker working on these
types of deals. You see an example right here. Analysis showed company was undervalued by
percent, and was successfully used in negotiations to raise asking price to dollar amount. Now,
you have to be careful about writing something like this. The reason is because if you have
something that is quite bold like this, where you say that you actually impacted the deal
process and got more money for your client as a result of work you did, they're going
to quiz you on it. They're going to figure out very quickly whether or not this is actually
true. Yes. If you had something like this and, this tends to happen more often with
smaller deals where you can actually impact the process, even if you're a junior banker,
in some cases. Just be very careful about what you say because if you stretch the truth
too much, you're going to get called on it. Unlike other types of experience, people in
finance know what you do as an investment banking analyst or associate and they're going
to know if you did something here that seems out of line or seems like you're exaggerating
too much. So be very careful about what you say. Another example of how you could do this
is you could say, On a buy side deal, recommended seven best candidates to the client leading
to additional due diligence on three potential acquisitions. This is fine. This would probably
not raise eyebrows in an interview at all, because it's very common. You make a list
to research potential acquisitions and then recommend the best ones. They decide to look
into them in more detail. Then we see on this LBO one, we re not even really showing results
here, we're just saying that we created a model showing returns in a certain range.
This is fine to include if you've had an experience like this, where you don't really have much
in the way of real results to point to. Once again, on the IPOs, we don't really have too
much in the way of results, which is fine. Play it by ear. If you have results you can
point to, put them in. If not, you can have bullet points like this and it's perfectly
fine. Then on the restructuring, we have a mix. The first bullet here doesn't have too
much in the way of results. Then this next one, clearly the work here has impacted the
deal process, so this is more of a result and it's fine to include this as well. Now
that we've been over the overall structure you want to be using for investment banking
type experience, I'm going to go through and answer a couple of other common questions
that may come up as you start using this and other questions I've gotten on writing about
this type of experience. One thing that sometimes comes up is, What happens if you've had multiple
finance internships? What if you've had, let's say, two investment banking internships and
maybe you had an asset management internship before that. If that's the case, I would probably
focus on the most recent internship and cut back on the rest. You can use this same structure,
even if you've had multiple investment banking internships, but what I would probably do
is instead of writing as much as we have here then maybe what you want to do is, for the
older ones, just list one or two transactions. Maybe just copy and paste this part and, again,
it depends greatly on what you did specifically so it's hard to say precisely how much to
add here, but I would do something like that. I would still try to include what you can,
especially if you're applying for full time positions right now, but I would just focus
on the most recent one and cut back on how much you say on some of the older ones. The
same applies, by the way, if you're working full time and you've had other jobs before
this. I would still focus on the most recent one and list the others still, but relegate
them and maybe only have a few sentences on them, as we have done here. Another question
is, How should you write about investment experience if you're working on the buy side?
Well, what I would probably do is, I would probably say Selected Investment Experience
right here and obviously, you want to change this and call it Private Equity and [inaudible
00:18:56] associate firm name and just say how many investments you worked on, and you
can have similar language here. In terms of the valuation work you did, merger LBO models,
client presentations, that type of stuff. You can have more about due diligence here
if you want to, but the overall structure is very similar. On this section for Selected
Investment Experience, it's really not too much different. The main difference is that
on the buy side it's more about leveraged buyouts and direct investments if you're working
at a hedge fund, trades if you're working at a hedge fund. But it's really not too much
different. You can adapt a lot of these ideas. What I would do, just as a quick example here
is say, Potential $700 million leverage buyout of telecom company, and we can have in here,
we can say something like Created LBO model showing turns in percent, percent range. Also
conducted due diligence with management team and wrote investment memorandum. This is presumably
for some type of investment committee that this firm has. Then you could say, Resulted
in negotiation of transaction. We could have, for example. That's how you might write about
a deal on the buy side. This is just a quick example off the top of my head, of course,
but that's the overall format that you'd use there. It isn't really that much different.
Another question that sometimes comes up is, What happens if you can't fit everything on
the page? I would say that in that case, if you really cannot fit everything, then you
need to eliminate some of your other stuff. You need to change the font size, play around
with the margins. Try to keep them at, at least, half an inch or so on each side, but
I would say you need to eliminate stuff. It's really not appropriate to have multiple pages
unless you're a much more senior hire or unless you're in a region like Australia, for example,
where it's actually accepted to have multiple pages on your resume or CV. Another final
question is, What happens if you're an intern and you don't really have any real deals or
it was an unpaid or part time internship? Again, same applies. Just make into deals
what you can. If you performed research on potential acquisitions, say that that was
a potential acquisition of something. If a company was interested in selling but you
didn't actually get an offer, you didn't actually negotiate anything, just say that it was a
potential sale, as we have here, of a certain type of company. Make into deals what you
can, is the short answer to that one. As far as the rest of the resume here, just a couple
of points to go through. We see here that, again, this company, other company, previous
internship or job that we worked at has been minimized because it's really not nearly as
important as the investment banking experience up here. We see that education is actually
much shorter this time around and this is fine, especially if you've been out of school
for awhile. If you have an MBA, you've gone to business school, then I would just add
in the business school right above this university name right here. You'll just add in business
school name and then follow the same format that we have down here, but even if you've
gone to business school, you definitely still want to keep in that as well as the university,
your undergraduate institution as well. I've shortened Skills, Certifications and Interests
because, honestly, once you've been working for awhile, this stuff becomes less important.
It's still good to list languages, just in case. Certifications can still be good so
if you have the CFA or something else like that, it's fine. You can list them. Some places
will care more about that stuff than others. Interests can actually still be helpful to
list. I have been asked about these in buy side interviews before, so interests can actually
still be good to list. I would probably cut out activities, technical skills, especially
if you don't have anything substantial there, which is why I've done exactly that on this
resume template. So that's a quick overview of how you might structure your investment
banking experience when you're writing about it on your resume or CV. Obviously, you don't
need to stick to this exactly. Feel free to take and modify this template, change around
the fonts, the formatting, whatever else you want. Still try to make it readable if possible,
but these are the overall ideas and the principles you should be using, but feel free to modify
and use it as you wish. Hopefully this has been helpful for you and you now have a better
idea of how to write about your experience and how to structure it on your resume or
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