11
How I Became an Investment Banker at 24: A Complete Breakdown of My Journey, Strategy & Lessons ( Shashank udupa)
Becoming an investment banker is often associated with top-tier degrees, elite institutions, and near-perfect academic records. My journey was the opposite—filled with dropped years, average marks, and unconventional choices. Yet, at 24, I earned my first job as an investment banker. Here’s the complete story of how I did it, what qualifications you really need, what the job pays, the work involved, the resources to learn, and finally, the hack that actually got me hired.
My Unlikely Education Journey
My academic record was far from ideal:
- I never attempted CA, CFA, or CAT seriously.
- I didn’t go to IIT, IIM, or any elite campus.
- I scored poorly in 12th standard and entered a BFM course simply because my percentage was too low for anything else.
- I even failed a year in college, making my 3-year degree stretch to 4.
- My undergraduate aggregate was just 60%.
Even though I attempted CAT later and secured 88 percentile, it wasn’t enough to get into any IIM.
Realising my options in India were limited, I chose a one-year Master’s program abroad—cheaper and faster than a US degree. I completed my Master’s at the University of Strathclyde in Scotland, earned a distinction, worked part-time as a waiter to manage expenses, and returned to India in 2016.
Despite this turnaround, my qualifications alone were nowhere close to what typical investment banking firms demanded.
Educational Requirements for Investment Banking
Investment banks are usually classified into:
- Top-Tier Firms (Goldman Sachs, JP Morgan, etc.)
- Mid-Tier Firms
- Boutique Investment Banks (small, specialised teams)
Preferred Qualifications
Top-tier firms generally prefer:
- CA or CFA
- MBA in Finance (preferably from IIMs or Ivy League)
- IIT + MBA combinations (highly analytical minds)
These candidates have strong valuation skills, financial knowledge, and analytical experience.
Where I Stood
Compared to the usual requirements, I had:
- No CA
- No CFA
- No IIM
- A 60% record
- A Master’s from a lesser-known foreign university
Yet, I managed to enter a mid-tier investment banking firm: India Infoline (IIFL) in their Corporate Advisory Division.
Why? Because of one important hack I used later in my journey—more on that soon.
Salary Expectations in Investment Banking
Here’s what analysts (entry-level roles) typically earn in India:
- Goldman Sachs: ~₹17 LPA
- Accenture / JP Morgan / Similar Mid-Tier: ~₹8–9 LPA
- TCS / KPOs: ~₹3–4 LPA
My first salary was:
- CTC: ₹6,00,000 per year
- Net in-hand: ~₹45,600 per month
- Tax Paid: ₹158 for the entire year
It was modest, especially considering I negotiated poorly. But I saw the job as tuition—an opportunity to learn business valuation, deal-making, financial modelling, and the inner workings of the industry.
What an Investment Banking Analyst Actually Does
At the entry level, the job largely revolves around two skills:
1. Excel (Advanced)
- DCF modelling
- Comparative valuation
- Forecasting
- Ratio analysis
- Enterprise value calculations
- SaaS metrics (CAC, LTV, Churn, ARR etc.)
2. PowerPoint
- Pitch decks
- Sector overviews
- Deal materials
- Company profiles
If you’re not strong in Excel or PPT, IB will be rough. I wasn’t initially, but a supportive manager and daily practice helped me learn fast.
Resources that Help You Break Into IB
Here are essential learning tools:
1. Presentation Skills
Study Guy Kawasaki’s PowerPoint framework.
2. Financial Modelling
YouTube channels and free courses provide complete walkthroughs.
3. Real Deal Knowledge
Use:
mergersandacquisitions.com
to study real private equity and M&A case studies.
4. Industry Specialisation
Pick one sector and become excellent at it:
- SaaS
- Fintech
- Banking
- Healthcare
Fintech and banking offer the strongest openings for beginners.
The Harsh Reality of Investment Banking
IB is not for everyone.
- Very long hours
- Weekend work is common
- Zero work-life balance
- High attrition and burnouts
- High expectations for accuracy and speed
But for those who love numbers, business models, and high-stakes deals, it’s a goldmine of knowledge.
The Hack That Actually Got Me Hired at 24
Here’s the part that changed everything.
1. I Revamped My CV Into a Creative, Stand-Out Format
In 2016, everyone used white, text-based CVs. I created:
- A visually appealing, orange-themed CV
- Designed entirely on PowerPoint
- Focused only on:Business strategy
- Valuation
- Presentation skills
- Sector interest
This CV got instant attention.
2. I Added a Sharp, Focused Cover Letter
I clearly stated:
- The exact role I wanted
- Why I was good for it
- My analytical strengths
- My commitment to business modelling
3. I Prepared For Market Discussions
During the interview, I confidently analysed the Airtel vs Jio telecom war, because I read Mint daily and tracked markets constantly.
4. I Delivered an Exceptional Case Presentation
When asked to create a PPT analysing one company, I went far beyond expectations:
- Researched the IoT sector
- Selected 5 companies
- Visited the MCA portal
- Paid ₹100 each to access real profit & loss statements
- Built a full valuation comparison
- Prepared a deep-dive presentation
The hiring manager didn’t even let me finish—he hired me on the spot.
The Key Lessons
- Don’t be desperate. Enter interviews with calm confidence.
- Stand out. A unique CV and presentation can override average grades.
- Be informed. Read about the economy, sectors, and markets daily.
- Back your confidence with real knowledge.
- Take one extra step. That’s what separates you from 99% of other applicants.
Final Thoughts
I didn’t break into investment banking because of academic excellence or fancy degrees. I got in because of:
- smart positioning
- strong communication
- creativity
- genuine curiosity
- consistent self-learning
- and the willingness to do more than what was asked.
