IB-Courses

Best Investment Banking Courses ranked by Bankers (2020)

In Finance Courses & Certifications by Gaurav SharmaUpdated On:

IB-Courses

The reason companies spend billions on branding each year is because it makes the buyer more confident about purchasing their product. The product has to be good, obviously, but it also has to stand out.

Hundreds of candidates apply for each Investment Banking role each year. In this sea of investment banking hopefuls, you need something to stand out. Something that makes your CV pop. Something that shows you are committed to this career. That you know what it takes.

Here is a quick list of the best Investment Banking courses and certifciaitons followed by detailed reviews below:

Best Investment Banking Courses/ CertificationsLearn More
1. Investment Banking Certification from NYIFPreview/ Enroll Now
2. Certified Financial Modeling & Valuation Analyst from CFIPreview/ Enroll Now
3. Capital Markets & Securities Analyst from CFIPreview/ Enroll Now
4. Professional Certificate in Corporate Finance from ColumbiaPreview/ Enroll Now
5. Professional Certificate in Valuation from NYIFPreview/ Enroll Now
6. Capital Markets Professional Certificate from NYIFPreview/ Enroll Now

What to look for in an Investment Banking Course/ Certification?

  1. Brand Value for CV Building – Research suggests that recruiters spend on average just 7 seconds to glance at your CV and that is all the time you have to make an impression. Your academic pedigree and work experience matters here the most, but you can’t change that. What you can do though is add relevant certifications that showcase your interest in the field and demonstrate a minimum level of capability.
  2. Specific to your Role – There are dozens of certifications out there, but not all of them are relevant to the role you are interested in. Some are suited for risk managers (FRM), others for traders (like the CFA) etc. This is the list of the ones that are relevant to investment bankers – meaning M&A, financial modeling, Debt & Equity Capital Markets, coverage and so on. Read my summary below to find one suited to what you are interested in.
  3. Available at the very start of your career –  Certifications like the CFA & FRM are indeed prestigious but they require  several years to complete and a lot of prior work experience. I cleared the CFA and FRM Level 1 exams within two weeks of each other while in B-School but it wasn’t really helpful because it would be YEARS before I would earn the certifications. You need something NOW, not 2-4 years in the future.

With all of that out of the way, let’s get down to brass tacks and look at the top courses/ certifications based on the above criteria.

Certifications for IB Analysts & Associates

Advanced professional certifications like the CFA, CAIA, FRM etc. take several years to complete and also require relevant work experience. So it’s not something that finance aspirants can fully benefit from when they are just starting out.

This section lists courses that you can complete right away and these will help you get your foot in the door as a beginner. They are also helpful if you are moving laterally into banking/ finance from any other field.


1. Investment Banking Certification from NYIF

Who is it for?

Investment Banking Analysts, Associates and Interns. Students interested in breaking into IB. Suitable for all skill levels.

Why take this certification?

  1. Investment banking is notoriously hard to get into and you need every edge you can get. This formal Investment Banking Certification from one of the stalwarts of wall street training is perhaps your best bet at getting that edge. There are other finance courses out there, but this one is laser focused on Investment banking and that is what makes it good.
  2. This is a self-paced, fully online program offered by the New York Institute of Finance that offers the most comprehensive look at Investment Banking for interns, analysts and associates alike. It takes about 70 hours of effort to complete, depending on your skill level. This means you don’t have to wait around for years to earn a certification. You need these certifications at the beginning of your career, not 4-5 years later!
  3. The course covers all relevant topics ranging form modeling and analysis to derivatives, valuations, structuring and deal making. Which makes this well suited for professionals looking to get into M&A, capital markets, fund management, coverage, valuation, research and other Investment Banking roles.
  4. You receive a formal certificate from NYIF upon completion. NYIF has been providing financial education to bankers for almost a century. So this certification will have an impact on your CV and LinkedIn profile. With recruiters having to sift through hundreds of CVs for a single role, you need something like this that makes you stand out.
  5. The next best thing to having real on the job deal experience. Having relevant work experience for finance roles is a chicken and egg problem. Courses like this one that utilize detailed case studies and real world scenarios are your best shot at solving that dilemma.
  6. In addition to showcasing your skills, this certification will also showcase your commitment to the field of Investment Banking as it is laser focused on it. Anyone taking this is likely to come across as being very committed to getting into IB.

Summary

  • Time to Complete: Should take around 70 hours depending on your skill level.
  • Offered fully online and on-demand. Complete at your own pace.
  • The Investment Banking Certification from NYIF is my top recommendation for all Investment Banking Candidates.

Preview Course/ Enroll Now


2. Certified Financial Modeling & Valuation Analyst from CFI

Who is it for?

Most versatile certification suitable for all investment banking and finance roles. May be customized as per your requirements.

Why take the FMVA?

  1. What I like most about the highly popular FMVA certification from CFI is that you can use it for almost any role withing investment banking. Early on in your career, you might not want to straitjacket yourself into focusing specifically on a very niche role like M&A, debt capital markets, coverage etc. but simply want to get in. The FMVA is what you need for that as it can be whatever you want it to be because it has elective courses that you can use to tailor it to your needs.
  2. For example, if you are interested in M&A, you can pick the M&A elective. But if you are interested in Commercial Real Estate, you can pick the Real Estate Financial Modeling elective. Other such options include LBO modeling, mining, renewable energy, startup or eCommerce modeling and so on. So you get to pick and choose and get what you want from it.
  3. This can be quite an advantage in a tight job market when you can’t afford to go after just one specific IB role. The FMVA is inherently versatile and it is that versatility that makes it highly appealing for investment banking hopefuls and even for corporate finance roles.
  4. The Corporate Finance Institute is well known in the finance community and the FMVA is their flagship certification. So you would be adding significant brand value to your CV and LinkedIn profile with this certification. Of course your academics still matter the most, but such certifications are your best at getting that extra boost in a  highly saturated job market.

Summary

  • Time to Complete: Should take around 120- 200 hours depending on your skill level and prior financial experience.
  • Offered fully online and on-demand. Complete at your own pace.
  • Ideal if you want to keep your options open and apply to multiple roles within investment banking and even other finance careers. Also my top recommendation for corporate finance roles.
  • Note: Use the following code to get a 10% discount: CFIPARTNER10

Preview Course/ Enroll Now


3. Capital Markets & Securities Analyst from CFI

Who is it for?

Anyone interested in a markets/ securities role like traders, financial markets, institutional sales, FICC, structuring, asset and portfolio management, wealth management etc.

Why take the CMSA?

  1. The Corporate Finance Institute (CFI)  offers a few key finance certifications and the Capital Markets & Securities Analyst (CMSA) is their answer for all market related roles. It is relevant for anyone in markets related role like securities sales, trading, analysis, market risk, portfolio management, asset management, private banking, and so on.
  2. The best part is that you don’t have to spend several years to complete it. It takes about 60-100 hours of effort which means you can complete the whole thing in a few months and get your designation when you need it the most – at the very beginning of your career.
  3. One thing I really do love about CFI courses is that they are highly modular in nature. For example, if you are a beginner you can opt to take some of the optional prep courses like Bloomberg Essentials, Economics for Capital Markets or Financial Math for Capital Math. but you can skip them altogether if you already this stuff.
  4. Similarly, there are a bunch of electives that you can pick to tailor the course to your specifications. You can pick Technical Analysis if you so choose or perhaps you are more interested in Convertible Bonds, Behavioural Finance or Subordinated Debt? Pick and choose what you want and focus on the stuff that is relevant to you.

Summary

  • Time to Complete: Should take around 60-100 hours depending on your skill level.
  • Offered fully online and on-demand. Complete at your own pace.
  • Note: Use the following code to get a 10% discount: CFIPARTNER10

Preview Course/ Enroll Now


4. Professional Certificate in Corporate Finance from Columbia

Who is it for?

Corporate finance roles and those looking to add a solid brand to their CVs.

Why take this course?

  1. Columbia University is a great brand to have on your Resume. This is the same course that is taught in the first year for Columbia’s core MBA program so you know you are learning what the pros are learning. I wish we had online learning opportunities like this back in our day!
  2. The course itself is of excellent quality but it is better suited as an introduction to corporate finance for beginners or non-finance professionals. As mentioned earlier, this is MBA year 1 finance.
  3. The introduction focuses on basic corp fin concepts like time value of money, capital budgeting, NPC and IRR etc. Then you get a good look at how bonds, stocks and companies are valued using free cash flows, ratios and multiples. Lastly, there is a section on risk, return, cost of capital and a case study. This course covers the basics but it does that really well.

Summary

  • Time to Complete: Around 35-40 hours.
  • Offered fully online and on-demand on edX – a trusted eLearning platform.
  • The best introductory course for corporate finance. It is not focused on IB, but corporate finance in general.

Preview Course/ Enroll Now


5. Professional Certificate in Valuation from NYIF

Who is it for?

Investment Bankers, researchers, equity and bond analysts who need to learn advanced valuation techniques.

Why take this course?

  1. You can’t sell something unless you know what it’s worth. In investment banking, pricing and valuing assets is the name of the game. M&A bankers try to price business divisions or entire corporations, capital market bankers try to figure out how to price equities or bonds which also involves figuring out the value of a business. Eventually, it all boils down to corporate valuations and this is the best course to teach you that.
  2. You can tell this course was made for investment bankers as there are specific sections on equities, fixed income, derivatives, corporate credit analysis, business valuations, financial statement analysis, and even M&A considerations like financing acquisitions, managing their risk and even post-merger integration.
  3. The course itself is of high quality and is delivered by industry experts. You get a professional certificate from NYIF on completion which you should use for min-maxing your CV for investment banking roles.

Summary

  • Time to Complete: Around 45 hours.
  • Offered fully online and on-demand. Complete at your own pace.
  • A more valuation focused course for Investment Bankers.

Preview Course/ Enroll Now


6. Capital Markets Professional Certificate from NYIF

Who is it for?

Debt and Equity Capital market roles (DCM/ ECM). Suitable for all skill levels.

Why take this course?

  1. This course, also offered by the New York Institute of Finance, focuses more on capital markets (debt and equity). This certification is better suited for DCM/ ECM professionals as well those in trading or research roles related to debt, equity and their derivatives
  2. Most finance courses go broad which means you spend a lot of time learning things that might not be relevant to you. By being laser focused on just capital markets, this course offers unsurpassed value to those who are also laser focused on capital market career options form the get-go.
  3. I couldn’t find any other course that covers all relevant capital market topics with this much detail and with such quality. This is not just another generic finance course. This is what DCM/ ECM guys should be studying.

Summary

  • Time to Complete: Around 35 hours.
  • Offered fully online and on-demand. Complete at your own pace.
  • The best course for capital market roles within Investment Banking (DCM/ ECM).

Preview Course/ Enroll Now


Advanced Certifications for Experienced Professionals (3+ years)

These are advanced professional certifications requiring a bigger commitment but they also offer you more value. These can be taken by analysts, interns, associates and even more senior professionals who are desirous of transitioning into investment banking. However, some of these do have minimum work experience requirements so be sure to check that before signing up.

1. Chartered Investment Banking Analyst

Why take this certification?

  1. As the name suggests, this certification offered by the New York Institute of Finance has been custom-built for Investment Bankers. If you just know in your heart that it is core Investment Banking that you are interested in, then this should be your pick. You will find none better.
  2. It covers all the bases from financial and management accounting to credit risk, forecasting, deal documentation and structuring, a week long M&A course, advanced excel training, valuation, financial modeling and everything in between. All that you need to know as an IB analyst/ associate or even as a mid-level professional looking to make a career transition, is in here.
  3. This is more of an advanced course and you should know that before going forward. If you are willing to commit to it, this certification will get you desk-ready.

Summary

  • Time to Complete: Around 25 work-days.
  • Available fully online in a virtual classroom format or on-site. Classes are scheduled beforehand.
  • The most reputable IB focused certification on the market.

Preview Course/ Enroll Now


2. Chartered Financial Analyst

Why take the CFA?

  1. The CFA is most relevant for markets-related role. Things like trading, selling securities, portfolio/ asset/ wealth management, equity/ fixed income/ market research and things of that nature.
  2. However, the CFA has built such a reputation that it can add value for non-market-related roles as well. Which is why it finds a spot on this list.
  3. The trick with the CFA is to start early so that you have already cleared a level or two before recruitment season. The CFA certification takes quite a while to earn, mostly because of the work experience requirements which means it is more of a mid-level career booster for most.

Summary

  • Time to Complete: Several years, also requires relevant work experience.
  • Global recognition in the securities community.

3. Financial Risk Manager

Why take the FRM?

  1. Risk Management has gained importance since the last crisis and continuities do to so as capital protection is now more important to stakeholders than capital appreciation.
  2. FRM is the gold standard for Risk Management courses and you can learn more about it in the linked articles here and here. Take the FRM if you interested in middle-office roles in Investment Banking like risk management.
  3. The best part about it is perhaps the versatility. Everyone from hedge fund managers to wealth managers to asset managers to M&A bankers to corporate bankers require financial risk management.
  4. FRM is a bit more quant-heavy than the CFA and you should know that before going in. But if you are interested in Risk management, you should already be ready for that.

Summary

  • Time to Complete: Several years, also requires relevant work experience.
  • Ideal for roles that require Risk Management which is pretty much most of the banking industry.


About the Author

Gaurav Sharma

Gaurav started his career as a Corporate and Investment Banking intern at Citi in 2009 and eventually ended up as an Associate Director at Standard Chartered Bank’s Wholesale Banking division a few years later. By 2016, Gaurav was consulting FinTech start-ups in London with product development in the institutional banking space. He also advises mid-market Private Equity/ Asset Management firms and Banks in North America and Europe with investments in the financial services and FinTech sector. Gaurav writes on topics ranging from European Union banking regulations and FinTech to Blockchain startups and the inevitable rise of our AI overlords! He has an Engineering degree in Computer Science and an MBA with a double major in Finance and Marketing. He is also a Certified Financial Risk Manager.