Why Investment Banking Essay Sample
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Why Investment Banking Essay Sample
Please explain your motivation for applying to J.P. Morgan and more specifically for an Internship in Investment Banking. (200 words)*
Investment Banking is now at a crucial junction, where Investment and Commercial Banking are splitting up due to the ring fence which is being built around these two banking areas. As well, the new upcoming regulation, Basel III, will have a huge impact in the investment banks, with higher liquidity and capital requirements, in order to increase solvency and stability in financial industries. Secondly, I am keen to apply to the Spring Insight Programme for as I am thoroughly intrigued by the financial markets and International Banking, I intend to better understand how a leading investment bank works, looking ahead to a potential career in the financial industry. The range of opportunities within J.P. Morgan is outstanding and the Insight Week assures a better understanding of the different areas within an Investment Bank, as well as an improved knowledge on which step to take while applying to the Summer Internships. I am aware of the key role the Spring Insight plays in order to get into the Internship Programme, and maybe afterwards, become part of J.P. Morgan’s team.
Describe the strengths you possess that would contribute towards you being successful in the role and business you are applying to. Please identify valuable skills, experience and attributes that would support your application. (150 words) *
Having worked at the Centre for Economics and Business Research (Cebr) for three weeks has emphasised my analytical abilities, for I had to carry out various task, such as writing reports, organizing clients meetings and dealing with confidential data. This enabled me to improve my IT especially my Excel skills. Being a part of a team while researching data for the reports, coupled with tight deadlines highlighted my team-work and communication skills and allowed me to become more comfortable while working under pressure. Both of the reports I wrote were successfully delivered to the client, which has enhanced my self-confidence. All this provides me with a full-kit of fundamental abilities for the program that I am applying to.
Please summarise a recent event or development relating to local, regional or global activity that impacts our Investment Banking business. (150 words) *
Since the onset of the financial crisis 2008, the sovereign debt crisis in western economies and the new financial regulation with Basel III coming up, the financial industry faces the challenge of reinventing itself. The ring-fence for Commercial and Investment Banking, and new economic and regulatory capital requirements will determine the kinds of products banks will be able to distribute. It will have a huge impact in the Investment Banking business, which will suffer tough regulation and supervisory procedures. At the same time, credit risk models will be reviewed because they have failed to predict the crisis of 2008. The current financial and economic crisis doesn’t have any precedent in the past.
Please describe a recent task or project where you have shown personal accountability and used initiative to exceed expectations. (150 words) * Last summer I helped to organise a work camp for a youth club in Spain, which required strict advance planning. Due to a restricted budget, flight tickets needed to be booked early in order to cut costs. A lack of commitment by many people did not make the booking process easy, but I managed to persuade a significant number to purchase tickets in advance by using my negotiation skills acquired through the debating society at my old school. The other main issue was the booking for accommodation which was priced above our limits. By using Spanish speaking skills and contacts I secured a comfortable place for the twelve of us. After negotiating the cost through email and phone, I managed to secure a place in the mountains close to where we were working. Once the date of the camp arrived the pleasant reaction by everyone during the flight and on arrival at the accommodation made all my effort worthwhile, exceeding expectations.