All the major investment banks will give a host of presentations during the Milkround. Try to attend as many of these as possible. The actual presentations will give an overview of the organisation, and you may find them very similar, but take the opportunity to talk informally to the employees afterwards. This will give you a better idea of the general ethos within the bank. In addition, most banking organisations will expect you to have researched fields within the company, and have a fair idea of what you want to move into.

A summer internship with a bank is an excellent opportunity to see if this is really the career for you, and it can lead to a permanent job offer at the end. The internship can seem like an 8 week long interview, but you will learn a great deal and it will almost certainly give you the edge in this intensely competitive field.

Intellectual ability nearly always tops the list of skills that investment banks are looking for. The initial learning curve is steep. You will need commitment and determination to succeed in a highly competitive environment, confidence to distinguish yourself from others, and bags of stamina to cope with the fast pace and long hours. An economics or finance-based degree is not necessary, though a basic knowledge of the industry is essential.

The extraordinarily large starting salaries of an investment banker are no secret. Neither are the long hours seemingly necessary to reap the financial rewards. Life as an investment banker is stressful and the working environment is incredibly competitive. The intense pressure to succeed can drive some employees to work in excess of seventy hours a week. Certainly weekend working and cancelled holidays are far from uncommon. This said, many banks are trying to adjust their level of flexibility, being all too aware of the pressures of combining a successful career with family.

Corporate Finance

In charge of large-scale services for big business, in contrast to the more private-based clearing, retail, and finance banking. Corporate financiers will handle operations like company flotations, privatisations, raising venture capital, and other aspects of fund management.

Investment Banking

Responsible for the handling of large funds such as pension funds, unit trusts, insurance companies and wealthy private clients.

Foreign Exchange/Capital Market traders

The hard end of the banking world, where traders determine the movement of currencies between countries, and therefore have a large say in determining the value of the currencies. The recent introduction of the Euro has increased the trading pressure on the pound, ensuring that the markets will remain very active and interesting for the forseeable future