Investment banking is the section of a financial institution that serves Institutions, governments, and corporations by providing capital raising and M&A services. Investment banks perform as mediators between investors and companies.
Here are top 14 common misconceptions about investment banking that you must know:
1. You should be economics or maths graduate
Everyone has a myth about investment banking that it requires a degree in economics or maths. But the fact that there is no consideration goes on subject or discipline. Rather than It's more about seeing what they're competent of, which is what the interview procedure is for. And they want smart people working here.
2. it’s very thing about trading
There's a misunderstanding that investment banking is all about selling. In reality, the position of many people employing in investment banking bears little likeness to trading.
3. Less chance to enjoy outside life
You can be an investment banker and still have an incredible social experience. It will depend on you, that how you will manage your career with your other outside activities. Honestly, working in a venture bank can make it harder to do the things you appreciate outside of work than in 9 am to 5-pm employment; on the off chance that you need to go to the gym after work or get together with family and friends you may need to plan your outstanding task smartly effectively.
4. Just Oxbridge graduates can apply
Don’t think that only Oxbridge graduates can use for investment banking careers. It is not restricted to just looking at people from Oxbridge schools, and there is no chance of leaving an outstanding candidate just because they didn't study in a top university.
On the off chance that your scholastic and expert experience meet criteria, they will have each shot of getting through to the interview phase.
5. There is such a significant amount of finance language usage
Indeed, there is a lot of finance terms and language. You should know a portion of the conditions even before you begin your temporary job. For instance, amid a meeting, the questioner won't clarify the back terms in his question, which is a piece of the tests on you.
6. Investment banking job hours are long
It’s the common myth that investment banking job hours are long. But Present banking hours may be better on the off chance that we compare with 20 years back.
7. The pressure level is high in the workplace
You work under huge worry in investment banking office. But the stress comes from assignment deadlines and a blunder-free work approach. It’s a misunderstanding that you couldn’t work happily in a bank.
8. It’s difficult to make friends
It is an own choice whether to earn friendship with co-workers, just like in any other company. Investment banking is a very aggressive environment; however, it draws people with a comparable goal, calibre, and sometimes even qualities.
9. People stick to investment banking just for CV boosting
We have seen individuals leaving a job in a few days. Likewise, we also have been observed individuals doing this job for a long time. But it depends on their self-decision. As this job is very beneficial in all the ways, of course, there is no matter of CV boosting purpose.
10. The requirement of visa sponsorship
All the big investment banks will aid you with your work visa. Banks concern about talents – that’s the significant assets they have. Visa is not substantial that will damage your chance in common.
11. You can't approach a senior person
Contacting an older person is a necessity in any workplace. It's possible in also an investment banking career. Senior person will always be available for your support in investment banking.
12. It’s not a long-term career
If someone desires to chase other career options investment banking will respect that and endeavour to assist them to find a new job if they can. But also they can continue in investment banking itself. Its entirely depend on their personal choice.
13. You compete with your colleagues
The bond between team members here is very well-built; you're all facing similar pressures as a team, so everyone here wants to thrive together and accomplish the best possible results for everybody. It's not called competition.
14. Men entirely control investment banking
The facts demonstrate that the business has verifiably been very male-commanded. In any case, things have changed significantly in recent years, and there's a tremendous push over the market to centre around selecting, holding and growing more women to guarantee proceeded and expanded advancement and an assorted variety of thought.
Also Read: What is Investment Banking