How you can prepare for your M&A career during your studies

An internship at EY, Deloitte or KMPG can be the springboard for a successful career in the Mergers & Acquisitions industry. This should ideally take place during your studies. Several internships at different times during your studies are recommended in order to gain practical experience as well as new knowledge. During the semester break, you can apply and expand your theoretical knowledge through an internship. 

Towards the end of your studies, it is a good idea to take part in an international program. After graduation, it is also a good option to take a gap year to gain further relevant experience for your future career. Internships and working student positions are ideal for this. Not only do you gain valuable know-how, but it is also remunerated. The gap year is particularly useful between the Bachelor's and Master's degrees in order to make a good choice for a suitable Master's degree program based on your practical experience. 

7 seconds is enough

To get started in the Mergers & Acquisitions industry, you need one thing above all else: a good CV. On average, recruiters only look at a CV for 7 seconds before judging it as suitable or unsuitable. So how can you stand out from the crowd?

1. Readability and clarity: Use an easy-to-read layout to give a quick overview of your experience and skills. Headings must be clearly recognizable and information must be written briefly and concisely in bullet points.
2. Topicality: write your last or current position clearly visible in your CV. Preferably at the top. Your current position best reflects your current skills.
3. Extracurricular activities: Relevant courses or projects show interest and motivation to work in the industry. These points should also stand out. 
4. No picture: Especially in investment banking, it is recommended not to include an application photo in the CV. The photo distracts from the essentials: Your skills.
5. Contact information: Make sure your contact details are easy to read and easy to find in your CV. This way, recruiters can get in touch with you quickly if they are interested. 

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A cover letter is usually not required but offers another opportunity to stand out from other applicants. A cover letter symbolizes interest and gives you the opportunity to present your values and goals to the company. It is also a way to give your experience and skills more context and therefore credibility. 

When writing a cover letter, it is important to address the letter to the right person. This allows companies to quickly recognize that you have looked into the position and the company.

The most important things to include in your cover letter are your current position, your previous experience relevant to the position and your motivation for wanting to join this company. It is a good idea to take a look at the facts about the company in order to formulate a cover letter based on the company values.

Job interview

The application interview is the most important step in the application process. This is where you can make a convincing impression and show off your knowledge with the right answers and questions.

Before the interview, it is important to find out about the company. This includes the job description, company values and, if possible, the person who will be conducting the interview. You can take a look at the LinkedIn profile to get an idea of who you will be interviewing and prepare accordingly. 

You should also know your CV well and it is best to prepare examples of relevant experience. You should also brush up on your technical skills before the interview, especially in order to be well prepared for job-specific questions.

However, an interview always goes in two directions. It is important to prepare questions for the interviewer to show that you have researched the position and are genuinely interested in the job.

What Mergers & Acquisition consultancies expect from you

Four main topics will come up in the interview: 

1. Questions related to technology and finance: Questions about methods for company valuations (e.g. discounted cash flow method) or how leveraged buyouts work.
2. Questions on market knowledge: Experience in negotiations and knowledge of trends in private equity markets
3. Behavioral questions: Questions regarding motivation for a career in private equity and experience in similar positions.
4. Case studies and application examples: For example, an explanation of how you would make investment decisions or small tasks such as evaluating financial reports.

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The interviewers will also be happy to ask you questions that go beyond the expected skills. Here it is not important that you have the right answer, but how you deal with the situation. Be honest if you don't know the answer, but try to find your own way to the solution to show your general understanding.

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The work is worth it

With a career in the mergers & acquisitions sector, you can expect not only an exciting job, but also a good salary. The average starting salary is between €60,000 and €80,000 gross per year. In addition, it is common in the industry for bonuses to be paid, which add a little extra to the salary. 

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Conclusion

In order to embark on a successful career in the mergers & acquisitions sector, you should prepare for this during your studies and gain initial experience. A well-structured CV and a personalized cover letter can help you stand out from the competition in the application process. The job interview is the decisive step in which sound knowledge and authentic interest in the company are convincing. If you prepare carefully and gain relevant practical experience, you can expect not only exciting challenges in this industry, but also an attractive starting salary.

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