How To Write a Cover Letter for Investment Banking (With Tips)

By Indeed Editorial Team

Updated October 15, 2022

Published September 7, 2021

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.

Applying for a job in investment banking requires a cover letter as part of your application. Most hiring managers expect a cover letter when you apply to their organization so they can learn more about your experience and skills. If you are interested in becoming an investment banker, knowing the proper ways to optimize your cover letter can help your chances of getting invited to an interview. In this article, we explain how to write an investment banking cover letter, go over its importance, offer tips and share a template and example.

Related: How To Get Into Investment Banking In Canada: A Guide

How to write a cover letter for investment banking

If you're interested in learning how to write a cover letter for investment banking, here are some steps you can follow:

1. Determine the structure

Before you write your cover letter, think about the information you need and how you plan to organize it. Consider making an itemized list of the information you wish to include and structure it in an outline. Another strategy to help you organize your cover letter is to reference a position-specific cover letter. For example, you might search for investment banking cover letter templates to help guide your outline structure.

2. Add an opening statement

Adding an opening statement at the beginning of your cover letter is important to ensure you gain the attention of your hiring manager immediately. This may mean starting with a statement about why you're a good fit for the position and an overview of your skills and professional experiences. Consider referencing your full name to help the hiring manager remember who you are.

Read more: 8 Powerful Ways To Start a Cover Letter (With Examples)

3. Discuss your credentials

Your cover letter is mainly used to explain your credentials. You can include your education, internships, jobs, training and skills. To help determine the information to use, reference your resume to select the most relevant experiences and discuss them in detail to provide the hiring manager with more information about you.

If your resume lists a professional experience you had in investment banking, you can explain additional information about your duties and accomplishments in that role on your cover letter. You can also include details about your skills and how they helped you excel in the role. For example, if you were an investment banking assistant, you might share how you helped manage documents or client communications. Highlighting your organization and communication skills, along with this information, may help you further feature your credentials. If you have any specific, measurable results from your experiences, also include them.

4. Share your ability to excel

After discussing your credentials, you can share your ability to excel in the applied position. This might include referencing key experiences, skills or measurable results. Focus on linking your unique skills to the applied position to demonstrate how you can be a valuable asset to the company. You can also use this section of your cover letter to help explain how you might help the company achieve or exceed its goals.

5. Include a closing statement

Including a closing statement at the end of your cover letter can help provide formal closure. You can use this statement to summarize your qualifications and highlight your interest in the position. In addition, you might reference your appreciation towards the hiring manager for considering you throughout the application process. These statements typically only need to be between one and three sentences.

Related: How To End a Letter

6. Consider a postscript

If you have additional information to share with the hiring manager, consider including a postscript. Think about whether the information you would include in this section is relevant to your application. Also, consider whether this section would add value to the hiring manager.

Why is it important to write a cover letter for investment banking?

Writing a cover letter for investment banking is especially important in specific scenarios, like:

  • Applying to a smaller company: Smaller companies might receive fewer applications than larger companies, which may mean your hiring manager may spend more time reviewing each application and its contents.

  • Transitioning to the investment banking industry or returning after time away: If you're transitioning or returning to the investment banking industry, adding a cover letter can allow you to explain your transferrable and relevant skills or knowledge.

  • Job listing requires one or says it is optional: When job listings indicate the hiring manager requires a cover letter, it's important to include one in your application to show you can follow directions. Even if cover letters are optional, you may include one to highlight your interest.

  • Seeking a position in a new location: If you're seeking a position in a new location with limited professional contacts, adding a cover letter to your application might help you explain your interest in working for their company and position you well among other candidates.

Related: Transferable Skills: Definition and Examples

Tips on how to write a cover letter for investment banking

When planning and writing your investment banking cover letter, these tips may help ensure you've optimized your content and structure to attract attention from hiring managers:

  • Be concise: Make sure your cover letter contains all important information while staying within one page to ensure hiring managers can read your cover letter easily and efficiently.

  • Implement clear formatting: Use fonts that are easy to read, like Times New Roman or Calibri, and keep their size no larger than 12 points.

  • Include a formal header: Add a formal header to the top of your cover letter and include the contact information of both you and the hiring manager.

  • Reference names: You can reference the names of the companies you have previously worked or interned for, as well as any specific professional connections who may have informed you of the applied position.

  • Consider bullet points: Implement bullet points in your letter to highlight skills or measurable results from previous experiences to help bring attention to them.

  • Use salutations and a closing phrase: Implement a salutation at the beginning of your cover letter to address the hiring manager and a closing phrase to end your letter formally.

Read more:

  • 12 Tips for Crafting a Great Cover Letter

  • How Long Should a Cover Letter Be?

  • How to Choose a Cover Letter Font in 5 Steps (With Tips)

Investment banking cover letter template

Use the template below to help you structure and outline your own investment banking cover letter:

[Your full name]
[Your phone number]
[Your email address]

[Hiring manager's full name]
[Hiring manager's title]
[Company name]
[Hiring manager's email address]

Dear [Hiring manager's name],

With my [education or experience], I know I'd be a good fit for the open [job title] position at [company name]. My skills in [skill one, skill two and skill three] specifically qualify me for this job. I am confident my background, paired with [company name's] resources, can generate profitable outcomes.

I have a university degree in [study area] from [school name] and gained many skills in [skill one and two] during my studies. My time at [previous employer] allowed me to [experience or accomplishment]. Specifically, I [outcome]. Additionally, I also produced these outcomes:

  • [Outcome one]

  • [Outcome two]

  • [Outcome three]

The [industry] recognizes the [company name] for [positive impact or workplace environment]. With my substantial knowledge in [related skill or experience], I know I can [potential outcome].

I would love to speak further about the [job title] opportunity at [company name] and discuss how I can help you reach your goals.

[Your full name]

Related: 7 Key Cover Letter Parts to Include in Your Letter

Investment banking cover letter example

Reference this investment banking cover letter example as you write your own:

Lisa Goodwin
(555) 555-555

Casey Howard
Managing Director
Jellyrock Investment Banking

Dear Casey Howard,

With my proven experience and knowledge, I know I'd be a good fit for the open Investment Specialist position at Jellyrock Investment Banking. My skills in numerical analysis, communication and research specifically qualify me for this job. I am confident my background, paired with Jellyrock Investment Banking's resources, can generate profitable outcomes.

I have a university degree in business from Cold Creek University and gained many skills in financial analysis and predictive statistics during my studies. My time at Bird Wing Banking allowed me to experience investment banking first-hand. Specifically, I helped increase the success of our customers. Additionally, I also produced these outcomes:

  • Increased the average rate of return to our customers from 8% to 12%

  • Calculated investment predictions for customers, which resulted in a 4% increase in investment funds

  • Communicated investment updates to clients regularly, resulting in a 10% increase in customer loyalty based on feedback surveys

The investment banking industry recognizes Jellyrock Investment Banking for its dedication to customer success and corporate social responsibility, which are two values of importance to me. With my substantial knowledge in investment banking and customer relations, I know I can help Jellyrock Investment Banking customers continue to reach higher levels of success.

I would love to speak further about the Investment Specialist opportunity at Jellyrock Investment Banking and discuss how I can help you and your customers reach your goals.

Lisa Goodwin

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