Overview
This role is part of the Investment Banking Academy within the Programs department. The academy provides 12 months of training with real deadlines and deliverables, preparing scholars for recruiting opportunities in investment banking and related sectors.
Training focus
Training is centered on investment banking fundamentals, including:
- Financial statement reading and analysis
- Business valuation and modeling
- Defending valuation conclusions when challenged by others
Program outcomes
At the end of the program, scholars pursue a goal of a 10-week internship with a partner firm (summer after junior year). Internship placement is not guaranteed; partner firms make their own hiring decisions.
Responsibilities
Scholars are expected to:
- Build financial models in Excel on deadline
- Learn and apply valuation methods, including:
- Discounted cash flow
- Comparable companies
- Precedent transactions
- Train on financial statement analysis, accounting fundamentals, portfolio construction, and investment strategy
- Pitch an investment idea and defend assumptions when challenged
- Work with a mentor and meet professionals at partner firms
- Manage time effectively to meet every program deadline and complete required reading
Program timeline (2029 cohort)
- October 2026 to June 2027: Rolling admissions (decisions every month; November is the priority round)
- July 2027: Academy begins
- July 2027 to June 2028: Twelve months of training (from the summer after freshman year through sophomore year)
- Fall 2028: Junior year internship recruiting season; support through interviews
- Summer 2029: Goal of a 10-week internship with a partner firm (summer after junior year)
- Spring 2030: Graduation
Admissions and application process
- Cohort size: Recruiting 125 scholars into the Investment Banking Academy for the 2029 cohort. Across all three academies, 325 scholars will be selected.
- Eligibility: Currently a freshman graduating in 2030 (referred to as the 2029 cohort because Summer 2029 is the internship target).
- Rolling admissions: Applications are reviewed and decisions are made every month from October 2026 through June 2027. You will hear back within 4 weeks of the round your application lands in.
- Application: Submit one application for this cohort (not one per academy and not one per round). The Talent & Recruitment team may move you to a different academy if your responses indicate a better fit.
Possible outcomes
Each application results in one of:
- Accepted: You are in.
- Deferred: Additional review is requested (usually your next term of grades). Your application carries forward automatically.
- Declined: Final for this cycle.
AI fluency expectations
Scholars learn to work alongside AI tools because the role being prepared for has changed. Training includes:
- Building working skill with software and AI tools used on the job
- Using AI while verifying output
- A standard that scholars will never present work they cannot defend (if AI produced it and you cannot explain it, it is not your work yet)
Requirements
Eligibility requirements
- Currently enrolled as a freshman (Class of 2030) at an accredited four year institution
- Minimum 3.5 GPA
- High school transcript submitted with the application
- First semester or first quarter college transcript
- Second semester or second quarter transcript submitted when grades post
- Demonstrated commitment to excellence, integrity, character, and collaboration
Transcript timing rules
- If applying by the November priority round, college grades may not be available yet. Submit your high school transcript with your application, then send first term grades as soon as they post.
- If applying in December or later, submit your first semester or first quarter transcript with your application.
- Everyone submits second term grades when they post.
If grades slip after acceptance
- Acceptance is conditional on finishing the freshman year at or above a 3.5.
- If performance drops, you move into a probationary period for review based on completion of the full year.
- Removal is possible if the picture does not improve; a waitlist may be used if seats open.
Preferred Qualifications
This academy values the following characteristics and readiness:
- Curiosity about how businesses make money
- Discipline to complete rigorous analysis when not being directly watched
- Comfort working with numbers and forming opinions that can be wrong
- Grit, resourcefulness, and intellectual curiosity
Skills and competencies developed (no required prior experience)
Scholars are expected to want to build:
- Financial modeling and Excel proficiency
- Financial statement analysis and accounting fundamentals
- Valuation methods (discounted cash flow, comparable companies, precedent transactions)
- Understanding of capital markets (where companies and governments raise money via stock and bonds)
- Quantitative analysis and the ability to read data without being misled
- Research skills to turn large amounts of information into a clear point of view
- Working with AI tools and verifying output
Soft skills and personal qualities
- Strong analytical and critical thinking
- Clear written and verbal communication, including the ability to present an investment idea
- Attention to detail and commitment to getting the number right
- Ability to take in complex information and form independent judgment
- Collaborative mindset with willingness to defend views professionally
- Time management and discipline to meet deadlines
Compensation & Benefits
Not specified.
Location
Chicago, IL