Bank of America is an American multinational investment bank. It is headquartered in North Carolina, U.S. Currently, BoA is the second largest bank in the U.S., the first being JP Morgan Chase. Bank of America is included in the Big Four banks in the U.S., the other being JP Morgan Chase, Well Fargo, and Citibank.
Around the 1900s, BoA was known as the Bank of Italy. They were able to stand out at that time as well with their special banking services for immigrants. Most banks at that time were only serving exclusive American citizens but BoA was the first to provide services to immigrants as well.
Even today, Bank of America is a highly sought-after place to work. Every year, they get large numbers of applicants for a variety of roles. Here are three ways to increase your chances of getting hired at BoA even if you are low on experience:
1. Align with and embody their core values
“Our purpose is to help make financial lives better through the power of every connection. This is the foundation for how we operate our business, work with our clients and make a positive impact in communities around the world.”
As you can see above, BoA strongly emphasises positive attitude and the importance of connections. They believe that their employees are the central driving forces of their purpose. During BoA’s hiring process, if you can show that you already embody their purpose, your application will stand out among the rest.
By aligning with and embracing this value and purpose, you will be able to boost your chance of getting hired at BoA. You can highlight experiences or instances where your positive attitude led to meaningful and helpful connections. Or even how you were able to use your connections to have a positive impact on others.
2. Ability to harness your uniqueness
A key part of the work culture at BoA is diversity and inclusion. They believe that diversity in the workplace is the biggest contributor to the freshness of ideas and innovation. They hire a variety of applicants based on this mindset. The important point to note here is that they want people who can harness their uniqueness to create change.
If you have no experience in investment banking, you must be able to show that you can create and execute authentic solutions. In your resume or interview, highlight instances where you were able to use your unique qualities to create a positive impact. You can also talk about any situations where you were able to solve complex problems while being true to yourself.
3. Rich and varied skills
Having the right and a variety of skills is crucial for your application if you have no work experience. There are mainly two types of skills that you need:
- Technical skills
- Intangible skills
Technical skills include financial modelling, using excel for finance, financial analysis, etc. These are the practical skills you will need at your job to come up with accurate calculations and for running simulations for solutions.
Intangible skills carry a greater focus at BoA. The company’s working model is employee-centric and relies heavily on its employees being able to connect with clients and other stakeholders. They are looking for people with good leadership skills, open-mindedness, authenticity, and respectful nature. If an employee cannot respect their values and purpose, they will likely not be chosen.
While you work on these skills, don’t forget the practical knowledge also needed to ace your interviews and have a stellar resume! You can take The Investment Banking Course by FMI to deep dive into the foundation learning needed for investment banking aspirants.
CONCLUSION
If you don’t have work experience, don’t worry too much! There is no doubt that it does add to your application overall. However,many people are hired by investment banks without it as well. You have to show that your profile aligns with the bank’s values and core purpose.
It is important to have a well-rounded resume and profile if you don’t have experience. Focus on aligning with their core values, staying true to yourself, and having a mix of skills in your resume to get hired at a premium bank like the Bank of America.
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