5 Things I Wish I Knew Before Giving An Interview For An Investment Banker
Investment banking is a highly sought-after field. It offers lucrative career opportunities to individuals. It involves various aspects, including raising capital, acquisitions, and mergers, offering financial guidance to the government or any corporation, and so on. Simply put, it is one of the most interesting, fruitful, and exciting positions to be in. However, if not understood properly, it can get really complex.
If you're considering building an investment banking career, then this post is for you. Here, we will discuss five important things you should know before appearing for your first investment banking interview.
Why Choose a Career in Investment Banking?
Before discussing the other important things for building a successful career in investment banking, let's look at the reasons why investment banking is one of the most lucrative career fields.
Below are some reasons why you should learn investment banking:
Opportunity to Become an Expert
Investment banking involves a lot of financial modeling and valuation work that offers you great opportunities to become an expert in the field. You can obtain expertise in building large, efficient, and complex financial models at an early stage of your career. Although bankers aren't really investors, they spend a good amount of time in valuation work, and this can be a very exciting and interesting way to begin your career.
Exposure to High Profile Transactions
What investment bankers do remains a top secret in the industry for a long time, but when it was publicly announced, it turned out that they work on the top page of the business section. You get a clear exposure to high-profile transactions involving some of the biggest corporations as well as government projects.
Steep Learning Curve And Extreme Challenges
Investment bankers spend very long hours in research and valuation, which not only makes their job challenging but also keeps them engaged and interested. This makes an investment banker a very good profile.
Although a career opportunity should not be evaluated on the basis of its pay scale, it's worth mentioning that investment banking can help you earn a handsome salary. It is one of the most prestigious jobs you can pursue in this field.
5 Important Things to Know Before Giving An Investment Banking Interview
Now that you know why investment banking is an attractive career field, let's talk about some important things to know before appearing in your first investment banker interview:
1. IB Isn't Only About Finance Majors
While it is true that people in this field have financial expertise, you don't always need a degree in finance to build a career in investment banking. An increasing number of banks and financial institutions are looking for people who have experience in computers and coding. One good reason behind this is the advent of technologies in the banking sector. So, even if you're a computer engineer or a coder, you can build a career in this field by pursuing a good investment banking course.
2. Prepare Well For a Quantitative Interview
Prepare really well for the quant interview. It is one of the most important parts of an investment banking interview, which aims at testing the skills and abilities of a candidate. Your interviewer may even ask you to evaluate a complex financial statement or ask irrelevant questions to test your problem-solving abilities under pressure.
3. Q4 is the Best Time to Look
Usually, most banks and corporations hire in the months of January and February. This means, that if you're seeking a job in this field, then you should start researching firms, networking, and sending your resumes in Q4, i.e November and December. This will help you stay ahead in the competition and give you enough time to prepare for the right job.
4. IB - a Resilient Industry
If there is one important thing any financial crisis taught us, it is that investment banking is a resilient industry. In simple words, it is like a staple of a country's economy. Despite so many ups and downs, this industry doesn't crumble. It is a sector that has been there for a very long time and will continue to boom as the years go on. No matter what comes afterward, one thing is sure investing banking will continue to offer lucrative opportunities to the individual.
5. Consolidation is Prominent
If you're entering this industry, it is very important to understand what is happening inside it. The banking sector has seen a lot of consolidation. And due to this, banks have to transform their structures. While these changes are not easy for any business, they offer great opportunities to entry-level candidates. So, don't be afraid of challenges when pursuing a career in investment banking.
So, this was all about building a successful career in the field of investment banking. If you're thinking about establishing a career in this field, then don't wait anymore and enroll in the right investment banking course as soon as possible.