What makes a good banking cover letter? Mai Le, a former Goldman Sachs investment banking associate who ran CoverLetterLibrary, a community which houses a collection of cover letters that have enabled juniors to get jobs at banks in the past. "Some students were excellent until they got to the cover letter," - those 300 words let them down. Goldman Sachs historically demanded that recruits write a 300 word personal statement as a cover letter. A former recruiter at the firm told us it was very important. "Some banks still ask for specific questions to be answered around motivation, strengths and key behaviours/competencies (these are of varying word counts depending on the bank)," she says. Banks like Goldman Sachs, Citigroup, Barclays, Morgan Stanley and Macquarie typically all demand that their would-be analysts in Europe write cover letters or something very similar, says Victoria McLean, a former Goldman Sachs recruiter and founder of banking CV specialists, City CV. "For graduate hires, cover letters are very important," says one headhunter. Just how important is reflected by the fact that some banks specify them as a must-have in the ir graduate recruitment process. when you happen to be using a recruiter who simply likes cover letters (hard to tell!).
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