Preparing for the Investment Banking Recruitment Process
Episode 10 | January 10, 2025
Breaking into investment banking takes strategy, preparation, and the right support network. In Episode 10 of The Coffee Chat Podcast, host Ben Dowell sits down with Stephanie Hockman, a seasoned finance professional and program director at Amherst College, to discuss how students can best prepare for the rigorous investment banking recruitment process, and how the Financial Modeling Certification® (FMC®) Program plays a crucial role in that journey.
Building a Finance Program from the Ground Up
When Hockman joined Amherst in 2015, she was given what she calls a “clean slate.” Tasked with building a career community for finance from scratch, she spent years shaping a program that could transform liberal arts students into competitive candidates for Wall Street. “We focused first on exploration, then preparation, and finally execution,” she said.
Her team partnered with Adventis in 2017 after testing several financial modeling training providers. “The certification program behind Adventis really stood out,” she explained. “It gives students the ability to demonstrate they’re supplementing their liberal arts education with a professional understanding of financial modeling.”
Why Early Preparation Matters
According to Hockman, investment banking recruiting timelines have accelerated dramatically, with many firms opening applications as early as January of their sophomore year. “Students have to be ready 18 months before their internships even begin,” she noted. “That means they need to explore their interests by freshman year and start building technical skills that summer.”
To meet this challenge, Amherst developed an intensive five-day training program. Students learn financial accounting, valuation, and modeling fundamentals, earning their FMC® certification and completing a stock pitch project that connects theory with practice. “By the time they sit for interviews, they can confidently walk through a discounted cash flow model and visualize the connections between the financial statements,” Hockman shared.
Standing Out in Interviews—and on the Desk
Hockman has seen firsthand how Adventis-trained students excel. “Students tell me it helps them nail the technical questions—like walking through a DCF or explaining how a $10 change in depreciation affects the three statements,” she said. The program’s “learn-by-doing” approach gives students more than conceptual knowledge; it builds muscle memory for real-world finance tasks.
She’s also noticed a major shift in employer feedback: “When I first arrived, alumni and employers said it took Amherst grads six to nine months to get up to speed. Now, those who’ve completed Adventis are nearly indistinguishable from students coming from target schools.”
Adapting to a Changing Industry
Beyond preparation, Hockman and Dowell discussed how the industry itself is evolving. Private equity and buy-side firms are recruiting earlier than ever, with some hiring directly out of internships. While the pace can be daunting, Hockman views it as an opportunity for well-prepared candidates: “With the right structure, students can be ready for both the interviews and the demands of the job itself.”
Her advice to other universities: “Take a step back, identify your gaps, and bring in the right partners. Adventis has been a key piece of our toolkit, helping our students go from point A to point B in their finance careers.”
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