Breaking into Investment Banking: An Interview with Nathan Hakakian (SSSB ‘21)
In the intense world of investment banking, young professionals must carve their pathways with dedication, understanding and intellect. In an interview with The Commentator, Nathan Hakakian, an analyst at Bank of America and YU alumnus, takes us on a journey from his time in the classrooms of Yeshiva University to the floors of one of the largest banks in the United States. Hakakian provides advice to YU students on how they can make their career goals come true, as he did when he was in our position not too long ago.
Mo Berlin: Can you tell us about your journey into investment banking and what inspired you to pursue this career?
Nathan Hakakian: Sure. I am originally from Los Angeles, CA, and attended Yeshiva University, graduating with a double major in finance and accounting. I started full-time at Bank of America in 2022, in their Global Industrials Group, where I spend most of my time working with building products companies. Coming into undergrad, I had a few internships in which I got exposure to valuations and transactions, and given my passion for financial markets, I thought investment banking would be a great career to pursue.
MB: What do you enjoy most about working in investment banking?
NH: There are a few things that come to mind. The first is the ability to work with some of the world’s largest companies and being able to have an impact (even if it is minimal) on some of their significant decisions. Second is the skill set that you build, both quantitatively and qualitatively. I am learning something new every day and building upon the skills I have developed over the last few years. Lastly would be mentorship and comradery. I have had the privilege to work alongside some of the brightest individuals who have invested countless hours to ensure my success.
MB: What are the key characteristics that make for a successful investment banking analyst?
NH: Besides being an extremely hard worker, some characteristics critical for junior investment bankers are having attention to detail, a positive attitude and intellectual curiosity.
MB: What advice would you give to college students who want to break into investment banking but don’t have prior finance experience?
NH: Great question. While it will likely be more challenging, I have seen people break into investment banking with minimal prior finance experience. The best way to get up to speed would be joining finance-related clubs on campus, doing some outside research and taking as many relevant courses as possible.
MB: How important is networking in securing a job in investment banking, and how should students go about building meaningful connections?
NH: Networking is a huge component of securing this job. The best advice I received is to leverage any connection you have, whether it be a warm connection (family, friends, etc.), alumni or a cold connection (email or LinkedIn). Additionally, it is important to come in with a clear “ask” (takeaway) that you would like to get out of the call, as well as a few talking points you can discuss at a high level. Lastly, it is important to always send a thank you email.
MB: What are the most critical areas to focus on when recruiting for an investment banking position?
NH: The major areas to focus on are behavioral/technical questions, networking and keeping up with current events. There are many great resources available for behavioral/technical questions, but some of the more popular ones are the M&I 400 question guide and the Wall Street Oasis guides. Regarding networking, in addition to the points above, I would make sure to have a concise yet clear elevator pitch. Lastly, I cannot understate the importance of keeping up with current events. While many great resources are available, my favorites are the Wall Street Journal, Exec Sum and Bloomberg.
MB: Are there specific classes or extracurricular activities you think students should prioritize in — college?
NH: Information Systems, Advanced Corporate Finance, and Intermediate Accounting were the most important classes I took at YU. I was also fortunate to be a part of the Investment Banking Society, TAMID Group and The Commentator, which allowed me to both gain an understanding of the broader industry and better prepare me to succeed.
MB: What are the essential considerations when constructing a resume?
NH: Your resume should give an outsider a first impression of who you are and highlight the various experiences/accomplishments you have had. That said, it is important to ensure your resume is properly formatted and free of grammatical errors. I always viewed my resume similarly to a piece of real estate — just as you would not want to waste space on a plot of land, the same holds true with your resume. The bullets on your resume should clearly serve a purpose (think what is the true purpose behind the point I am trying to make) and should be quantifiable (i.e. be able to include numbers/amounts). Lastly, I would make sure to include any leadership or teamwork roles you may have, even if they are not finance-related. It goes without saying that any experience listed on a resume is fair to be discussed in an interview/networking call, so make sure you can speak to any point listed on your resume.
MB: What is the best way to ensure I succeed in an interview?
NH: It is critical to do your homework ahead of time. Most interviews will consist of some combination of technical and behavioral questions, with a mix of current events or other related questions. When answering the questions, it is important to answer calmly, confidently and honestly while also demonstrating that you are a good cultural fit. While you don’t want to over-prepare, be able to answer simple questions about the firm, why you are interested in this specific role and a few questions for the interviewer. The goal is to convince the person on the other side of the table that you are the best candidate for the job.
MB: If you were to go back in time and give yourself one piece of advice to your college self, what would it be?
NH: I would tell myself to maximize the resources on campus and enjoy the perks of being a college student. YU has so many amazing opportunities to take advantage of, and it really goes by quickly. You can truly achieve a lot coming from YU and I am very proud to be an alumnus.
MB: Thank you so much for taking the time to share your valuable insights and advice with us.
NH: You’re welcome!
Photo Caption: Nathan Hakakian is a former YU student and current investment banking analyst at Bank of America.
Photo Credit: Nathan Hakakian
