07-03-2026
Every fall, while most college sophomores are deciding their major, a quiet race has already begun. Investment banks are recruiting and deadlines are rapidly approaching. Most students do not fully understand what investment bankers do, with fewer realizing how early the clock starts. Without knowing what the job entails, candidates can’t speak to it convincingly when it counts most. While the answers to this process aren’t handed to you, Purdue’s Investment Banking Academy (IBA) puts the right people, preparation and knowledge in your corner before the race begins.
In a nutshell, an investment banker is a financial services professional who provides advisory services to companies seeking to complete a transaction. Principally, investment bankers advise companies whose enterprise values — the total worth of a business, including debt and equity — range from $100 million to over $1 billion on a few types of transactions:
In the boardroom, investment bankers play a key role in advising corporate leadership on prospective transactions with the goal of helping maximize shareholder value.
Unlike traditional internship recruiting, investment banks typically open applications on January 1, allowing sophomores to interview for positions during their junior summer. Last year, Goldman Sachs (a leading bulge bracket investment bank) received over 360,000 applications for just 2,600 internship slots!
Standing out requires proactive networking and diligent preparation for the technical and behavioral portions of the interview process. On the technical side, candidates are evaluated on core finance topics — valuation, basic accounting and financial modeling — the same skills that junior bankers use every day. On the behavioral side, recruiters want to hear your story: Tell me about yourself. Why banking? Why this firm?
While securing a summer internship in banking demands a strong resume, deliberate networking and disciplined technical preparation, for those who succeed, it serves as the gateway to a full-time offer before their senior year even begins.
For students serious about high finance, the IBA doesn’t just prepare you for the process; it transforms your perspective. Founded with the mission of bridging the gap between the classroom and careers, the IBA equips members with the mentorship, interview preparation and networking opportunities to compete with candidates from even the most heavily recruited universities. Through structured weekly meetings, students engage with faculty and student leaders to further their skills in financial modeling, valuation methodologies and deal analysis needed to advance during the interview process. Further, students learn how to tell their story and articulate their motivation for banking, which is a critical skill in behavioral interviews.
Perhaps the most distinctive elements of the IBA student experience are the annual visits to leading investment banks and private equity firms in Chicago and New York, where students sharpen their networking skills, engage directly with industry professionals and connect with top alumni during curated receptions.
Due to the accelerated nature of the recruitment cycle, the Investment Banking Academy opens applications for rising sophomores to join the organization at the beginning of every autumn semester. Beginning this August, members of the Class of 2029 can find the application link on our LinkedIn.
Standout applicants will be invited to complete a financial modeling test to demonstrate their fundamental valuation skills and then invited to a Superday — where they will interview with faculty and current IBA student members.
If you’re ready to start your journey, connect with current IBA members to learn more about our values and mission — and take the first step toward a career in high finance.
Gregory Kotsiviras is an undergraduate at Purdue University’s Daniels School of Business pursuing degrees in finance and accounting. He serves as President of the Purdue Investment Banking Academy and was recently named a Bruce White Undergraduate Institute Fellow.
