Where Investment Bankers Tailor Their Success

Investment bankers are known for their suits, and it's important to get the right one. A good suit doesn't have to break the bank, but it should be flattering and made from high-quality fabric. A classic white shirt is always a safe bet, and a dark, well-made pair of dress shoes will complete the look.

When it comes to buying a suit, investment bankers have a few go-to options. Some popular choices include Suitsupply, Brooks Brothers, and Ralph Lauren. For those on a tighter budget, Suitsupply offers a range of entry-level suits starting at around $400. If you're looking for something a little more expensive, Brooks Brothers and Ralph Lauren suits typically cost around $1000.

It's worth noting that as investment bankers progress in their careers, their suits tend to get more expensive. Vice presidents and managing directors might opt for suits from luxury brands like E. Zegna, Isaia, Brioni, or Ralph Lauren Purple Label, which can cost upwards of $3000.

So, if you're an investment banker looking to dress to impress, remember to choose a suit that's classic, well-tailored, and made from high-quality fabric. And don't forget to complete the look with polished dress shoes!

Where to buy affordable suits

When it comes to affordable suits, there are several options to choose from. Here are some places where you can find stylish and budget-friendly suits:

Department Stores

Department stores are a great option for finding affordable suits. Nordstrom Rack, for example, offers high-quality suits from major designer brands at discounted prices. You can often find suits that were previously sold at higher prices in the flagship store. Macy's is another excellent option, especially during big sales events and with coupons. They offer a range of slim-cut 100% wool suits for less than $250.

Online Retailers

Online retailers provide a convenient way to shop for affordable suits. Amazon has a wide range of name-brand options and is known for undercutting competitors' prices. They also offer extensive user reviews, which can help you make an informed decision. Other online retailers like ASOS, TopMan, and JC Penney offer trendy and budget-friendly suits, with JC Penney known for carrying similar styles to bigger-name stores at more affordable prices.

Fast Fashion Brands

Fast fashion brands such as H&M and Zara Man offer stylish suits at low prices. While the quality may not be as high as some other options, these brands are perfect for those who want something trendy and don't plan on wearing the suit for many years.

Factory Outlets

Factory outlets, such as J.Crew Factory, offer more affordable alternatives to their parent brands. J.Crew Factory, for example, features the classic styling of the J.Crew Ludlow suit at a much lower price point. Factory outlets often have sales and promotions, making them an excellent option for those seeking a bargain.

Discount Stores

Discount stores like Braveman Suits and Alain Dupetit offer suits at incredibly low prices. Braveman suits, for example, have a wool-like appearance despite being made from a blend of polyester and viscose. Alain Dupetit suits are made from synthetic fabric and are priced as low as $50.

When shopping for affordable suits, it's important to consider factors such as fabric, construction, and fit. Natural materials like wool are ideal, and paying attention to details like stitching and lining can help you assess the quality. Additionally, don't forget to set aside a small budget for potential alterations by a trusted tailor to ensure your suit fits you perfectly.

How to dress like an investment banker

If you want to dress like an investment banker, you'll need to pay attention to the details. While you might be hired for your knowledge of financial modelling and your negotiation skills, your clothes should give off the right impression to clients, peers, and superiors.

For Men

If you're working in an investment bank, you'll need to wear a suit. Stick to medium-to-dark grey, navy, or business suits. Black suits are also an option for formal occasions. Avoid brown, green, and light-coloured suits. Your dress shirt should have long sleeves and be white or light blue. Light pink or lavender shirts are less safe options. Avoid shirts with pockets, collar buttons, and patterns. For your tie, choose a conservative silk tie in a maximum of three colours. Stick to solid red or blue if in doubt.

Your shoes should be low-heeled, conservative dress shoes, colour-coordinated with your suit. Black is usually acceptable. Wear calf-length dress socks that match your suit.

In terms of accessories, wear a belt that matches your shoes if your trousers have belt loops. Avoid suspenders. The only jewellery you should wear is a wedding ring, a watch, and cufflinks.

For Women

You can't go wrong with a navy blue or medium-to-dark grey business suit, either a skirt or trousers. Wear low-heeled, conservative dress shoes that are colour-coordinated with your suit. Hosiery is highly recommended, with skin colour being the safest option.

The rules for jewellery are more relaxed for women. Avoid hoop earrings or piercings that aren't in your ears. You can opt for earrings, rings, and necklaces, as long as they are tasteful and in moderation. Avoid bright colour nail polish, flashy makeup, and strong perfume.

Where to Buy Your Suit

If you're looking for a reasonably priced, slim-fitted suit, you could try Suitsupply, J. Crew Thompson slim, or an online made-to-measure suit. You could also try a high-end department store like Barneys, Saks, or Neiman Marcus to try on suits, remember your size, and then look for that brand on eBay.

Dress-Down Fridays

It's worth noting that many investment banks have "casual Fridays". For men, this means khakis, golf or polo shirts, or a sweater over a coloured shirt. For women, it means trousers or a knee-length skirt and a blouse or a shirt with a collar. Jeans and t-shirts are best avoided.

Shoes and accessories

When it comes to shoes, investment bankers are expected to wear polished, dark, dress shoes. Loafers are a popular choice, with black loafers being dubbed "deal sleds" on Wall Street. The Gucci horsebit loafer is a common choice, but it is important to match the brand of your loafer to your level in the company. For example, an entry-level loafer might be the Weejuns by G.H. Bass & Co, while a VP in an investment bank might opt for the Allen Edmond loafer.

In addition to shoes, accessories are an important part of an investment banker's wardrobe. A belt that matches your shoes should be worn if your pants have belt loops. Cufflinks, a watch, and a wedding ring are acceptable accessories for men, while women have more flexibility with jewellery but should avoid extremes such as hoop earrings or piercings. A briefcase or portfolio is also a must-have accessory for any investment banker, signalling that you are serious about your work.

Dressing for the climate

When it comes to dressing for the climate, investment bankers need to pay attention to the weather, the setting, and the occasion.

In hot weather, it is best to opt for lightweight and breathable fabrics such as cotton, linen, seersucker, or tropical wool. Lighter-coloured suits in shades like beige, tan, or pastel colours are ideal as they reflect sunlight and heat better than darker colours, which absorb heat. Unlined or half-lined jackets are also preferable as they are more breathable and help with ventilation. A looser fit is recommended for better air circulation.

For footwear, leather or canvas shoes are good choices. Loafers, in particular, are recommended as they offer more breathing room for the feet. Socks made of natural, breathable fibres are also a good idea to keep your feet cool.

In cold weather, a darker colour suit would be a better choice. A black suit, for example, is more appropriate for formal occasions and will keep you warmer. A fully-lined jacket will also help you stay warm.

In terms of setting and occasion, it is important to remember that investment banking is a client-facing business, so you need to look presentable at all times. The job also entails a certain social status and hierarchy, so your clothes should give the right impression to clients, peers, and superiors.

For example, if you are going to a formal event, a darker-coloured suit is the best choice as it is seen as more serious and formal. However, if it is a casual event, a light grey or light blue suit is more appropriate.

Additionally, different banks have different dress codes, so it is important to be aware of the specific culture of the bank you are working for or interviewing at. For instance, Goldman Sachs leans towards business casual, while Credit Suisse is known for its moody suits and quiet formality.

The business casual trap

While it may seem like a welcome break from the usual formality of suits, business casual attire can be a sartorial minefield. The term "business casual" is open to interpretation and can vary depending on the industry, company, and even the day of the week. For example, a casual Friday dress code may be more relaxed than a typical workday, but it's still important to maintain a professional image.

For men, business casual typically includes items such as khakis, golf or polo shirts, and sweaters. It's important to avoid clothing that is too casual, such as jeans and t-shirts. A good rule of thumb is to choose items that could also be worn in a more formal setting, such as a blazer that can be dressed up or down.

For women, business casual usually means trousers or a knee-length skirt, paired with a blouse or a shirt with a collar. While the dress code may be more flexible, it's crucial to maintain a professional image and avoid clothing that is too revealing or casual.

When it comes to accessories, it's important to keep them minimal and professional. For example, a belt should be worn if your pants have belt loops, and it should match the colour of your shoes. Jewellery should be kept to a minimum, with only a few subtle pieces such as a watch, cufflinks, or a simple necklace.

It's worth noting that the interpretation of business casual can vary depending on the industry and company culture. In the world of investment banking, for instance, the dress code is generally more formal and conservative. Even on casual Fridays, it's important to maintain a polished and professional appearance.

Overall, while business casual attire can offer a bit more flexibility and comfort, it's important to be mindful of the potential pitfalls. By choosing classic, versatile pieces and avoiding overly casual clothing, you can strike the right balance between professionalism and style.

Frequently asked questions