A career in investment banking promises wealth and a prestigious position in society. It attracts the sharpest, intelligent, and driven individuals in academia. It is for Type A personalities as they structure financial deals while facilitating business operations.
There is an increased demand for candidates with a sophisticated and deeper understanding of markets and technology. If you are considering a career in investment banking, then you should know these things about the industry.
The major functions of an investment banking industry are –
- Enabling institutions and companies to manage money
- Creating capital for companies
- Underwriting equity securities and debt
- Participating in a stock issuance, mergers, and acquisitions
- Solving clients’ critical and strategic challenges
- Multitasking to thrive in a dynamic environment
The investment banking industry is challenging with attractive rewards. Some of the rewarding facts regarding investment banking are as follows.
For all disciplines other than Finance
Investment banking is a select career for most of the finance graduates. However, they are not beneficiaries alone. People from non-traditional backgrounds join investment banking though it is a 180-degree career change.
There are instances where a medical graduate made into investment banking with summer internships and part-time jobs. Likewise, professionals from retails, biology, computer science, and engineering have succeeded in this lucrative career.
Joining opportunities during January and February
Some of the major players in the Global Investment Banking market are Barclays, Bank of America Merrill Lynch, Credit Suisse Goldman Sachs, Deutsche Bank, JP Morgan, and Morgan Stanley. The industry is growing further. It is headed in the right direction post-recession period. So, January and February are the best times to researching firms, send out resumes, and start networking in November and December.
In case you fail to get an opportunity, continue searching. Meanwhile, it is recommended to upgrade yourself with the industry knowledge and skills by earning investment banking certification.
A resilient industry with international opportunity
Post-recession, the Dodd-rank Act, supportive legislation improved the blind spots, increased capital requirements, and brought investment firms as a part of minimally regulated ‘shadow banking system’.
The industry will continue to thrive and it is a safe bet to gain a career in investment banking. Countries continue to trade making investment banking a global market. This would be the right industry for you if you look for international opportunities.
The professionals may have classy business cards and make headlines with big deals. You may have glamorous holidays in Asian restaurants, beach resorts, enjoy rich people’s routines and dine in high-class hotels. Your kids can be sent to prestigious schools like Philips Exeter Academy. It boosts your ego with assets like flats and Ferrari. You can enjoy yearly bonuses and profit shares on deal closures. Your opinion on monetary dealings will be loud among relatives and friends.
The career avenue is multiple and inspiring. You will have better exit opportunities like joining private equity, hedge funds, entrepreneurship, or set up a family office.Many bankers stay in business for people. All these careers make your wallet fatter.
Moreover, you learn useful skills like PowerPoint, Excel, and endurance. You get to know many big shots while interacting for bigger deals. You will be able to pay-off your school debts with no financial burden.
Friendly work environment
Most of the companies have introduced the zero-tolerance policy. Corruption and unethical behavior are rarely seen. Loyal and hardworking candidates are rewarded by the industry. As it attracts intelligent individuals, you can work with bright minds where you find a lot of learning opportunities.
To conclude, a career in investment banking is attractive, lucrative, and inspiring. Increase your chances of getting into the field by updating yourself with industry knowledge and skills.