Do Cover Letters Matter for Investment Banking Applications?

Cover letters are rarely the most important part of an investment banking application, but they are not always meaningless. Their value depends on the firm, role, recruiting process, and your candidacy. Here is how to decide whether to submit one and how to make it useful when you do.

Author: Michael Harris Updated 4 min read

How much does a cover letter actually matter?

In most investment banking recruiting processes, your resume carries more weight than your cover letter. Recruiters and bankers can quickly assess your school, grades, internships, leadership experience, and technical exposure from a one-page resume. Networking, interview performance, and demonstrated interest in the firm also tend to matter more.

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