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 meaningless in every process. Their value depends on the firm, role, recruiting process, and your candidacy. You should know when to submit one and how to make it useful when you do.

Author: Michael Harris Updated 5 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. A recruiter or banker can quickly assess your school, grades, internships, leadership experience, and technical exposure from a one-page resume. Networking, interview performance, and evidence of interest in the firm also tend to matter more.

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