Investment Banking Courses: What to Study to Break In

There's no single "investment banking course" that guarantees a job offer — but the right combination of technical preparation and credentials can make a significant difference in getting interviews and performing in them. Here's a practical guide to the courses worth taking and what each one actually does for your career.

Why Courses Matter in Investment Banking

Investment banking recruitment tests technical skills directly — in interviews, you'll be asked to walk through a DCF, explain how a balance sheet works, or describe what happens to the three financial statements when a company takes on debt. These skills are rarely taught in depth at university. Courses fill that gap.

They also signal commitment. A candidate who has completed a financial modelling course and passed the IMC exam looks more serious than one who lists "interested in finance" on a CV. In a pile of 10,000 applications, tangible credentials stand out.

The Core Categories of Investment Banking Courses

1. Financial Modelling Courses

The most directly applicable skill for investment banking. Financial modelling courses teach you to build valuation models from scratch in Excel — DCF (discounted cash flow), comparable company analysis (comps), precedent transaction analysis, and LBO (leveraged buyout) models for private equity-focused roles.

Leading providers:

• Breaking Into Wall Street (BIWS) — the industry-standard self-study resource. Widely used by analysts at top banks. Excel-heavy, practical, directly relevant to interview preparation.
• Financial Modeling Mastery (CFI) — Corporate Finance Institute's FMVA designation covers modelling, valuation, and Excel. Recognised credential that signals technical competence.
• Macabacus / Wall Street Prep — also well-regarded, particularly WSP's investment banking-specific curriculum.

2. CFA Programme

The CFA (Chartered Financial Analyst) designation is the gold standard for investment management careers. CFA Level 1 covers ethics, quantitative methods, economics, financial statement analysis, equity, fixed income, derivatives, alternatives, and portfolio management — a comprehensive foundation in finance. Passing CFA Level 1 before starting a full-time investment banking role is increasingly seen as a differentiator for graduate applicants.

Time commitment: ~300 hours of study. Pass rate: approximately 40–45%. The investment is significant but the CFA brand is globally recognised and highly valued in investment management and research.

3. IMC — Investment Management Certificate

The IMC (co-awarded by CISI and CFA Society UK) is the benchmark entry qualification for UK investment management. It covers the investment environment and investment practice across two exam units. The IMC is often required or strongly preferred by UK asset managers and is a practical credential to hold before starting in investment management.

Time commitment: approximately 80–120 hours per unit. Significantly less demanding than the CFA.

4. Bloomberg Market Concepts (BMC)

A short online course (~8 hours) covering financial data, markets, and the Bloomberg Terminal. It results in a shareable certificate that demonstrates basic market familiarity. Not a substitute for deeper preparation, but easy to complete and universally visible on LinkedIn profiles. Worth doing if you haven't used Bloomberg professionally.

5. Accounting Fundamentals

Investment banking technical interviews heavily test accounting knowledge — the income statement, balance sheet, cash flow statement, and how they interconnect. If your degree didn't cover this in depth, a structured accounting course is essential preparation. AAT's introductory modules or ACCA's Applied Knowledge papers provide this foundation, though online resources (including specific interview prep guides) can cover the basics more quickly.

6. Investment Banking Boot Camps

Short intensive programmes (typically 1–5 days, sometimes residential) that provide crash courses in banking technical skills, networking, and interview preparation. Providers like Amplify Trading, Intuition, and various university-run programmes offer these. They're expensive (£500–£3,000+) and the quality varies widely. They can be useful for networking and mock interview practice but shouldn't replace self-directed technical study.

Recommended Preparation Stack by Stage

If You're 1–2 Years from Applying

1. Bloomberg Market Concepts (immediate, free with student access)
2. IMC Unit 1 and 2 (builds market and investment foundation)
3. Start CFA Level 1 study (register and begin)
4. Financial modelling course (BIWS or Wall Street Prep)

If You're 6–12 Months from Applying

1. Intensive financial modelling practice (case studies, model build from scratch)
2. Technical interview preparation (accounting questions, valuation walkthroughs)
3. Deal research — know current M&A transactions in your target sector

Frequently Asked Questions

Is there a specific "investment banking course" that banks recommend?

No bank officially endorses a particular course. However, BIWS and Wall Street Prep are widely used within banks — many current analysts completed these during their preparation. The CFA is the most formally recognised institutional credential in the investment management space.

How much do investment banking preparation courses cost?

Bloomberg Market Concepts: free with university access or ~£200 individually. IMC: ~£430 in exam fees plus ~£100–£200 for study materials. BIWS/WSP financial modelling courses: £200–£500. CFA Level 1: ~£900–£1,200 in exam fees. Boot camps: £500–£3,000+.

Will doing these courses guarantee me an investment banking interview?

No — technical preparation improves performance once you have an interview, but getting the interview still depends primarily on application quality, university, and networking. Treat courses as preparation for the interviews you'll get through other means, not as a route to interviews themselves.