A Comprehensive Guide for Breaking into Investment Banking
Investment banking is a vast field that includes fundraising from the capital markets, investments, asset management, development of financial plans for mergers and administering securities. Therefore, apart from relevant degrees, one must possess the numerical aptitude and real-world experience for a successful career in investment banking.
An investment banker's primary job is to assist in fundraising for their client's business activities. It also includes processing huge and complex transactions for their companies. They also act as corporate financial advisors and help companies to expand their businesses.
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Things to Know Before Getting Into Investment Banking
Before you decide to pursue a career in investment banking, here are six things you must keep in your mind:
Ensure you are in the right job
One thing that sets apart an investment banker from other professionals in the finance industry is that they may come from different educational backgrounds. Often, they implement their transferable skill set into other related professions like research and trading, something that suits their skill set.
However, if you are interested in pursuing investment banking as your career, you must be prepared to dive into a demanding and stressful job. Understanding what is expected from your job profile will help you remain focused on making optimum use of any opportunity coming your way.
Choose your career in investment banking wisely
There are a plethora of job roles in the field of investment banking, each requiring different skills and personal attributes.
If you are a corporate investment banker offering financial advice and services to other businesses, you are most likely to work on acquisitions, mergers, bonds, lending and shares. This job profile requires the ability to work under extreme pressure and solid negotiation and interpersonal skills.
On the contrary, if you work on an operational profile, you are responsible for handling different aspects of the trade life cycle. Here, you must possess strong numerical and analytical skills for a successful career in this profile.
Study for a relevant degree
Even though companies invest ample resources in training their staff on different aspects of investment banking, an undergraduate degree is expected from the potential candidates. It does not have to be strictly finance-related. However, subjects with a strong maths focus like- business management or economics are preferred.
Many institutions help students learn the trade life cycle and other basic investment banking concepts. If you want to enter the world of investment banking, enrol in a course designed to make you understand every nook and cranny of investment banking from leading institutes like Imarticus Learning. Imarticus Learning has a dedicated investment banking course that will prepare you for the challenges of this industry and help you navigate through them.
Participate in investment banking internships
Several top financial institutions offer summer internship programs for students in investment banking.
On-job experience, practical skills and specialised programs like foreign exchange training help you lay the perfect foundation for your investment banking career. With these internships, you may get a chance to work on actual deals and thus learn crucial technical skills. If you deliver a satisfactory performance, you may also receive full-time job opportunities after completing your internship.
However, it is essential that you make an informed decision by first understanding different job profiles in investment banking and picking up the right one for you.
While you submit your application for the internship program, understand what the recruiters want to evaluate during the screening process. Make sure that your CV reflects your technical abilities and interpersonal skills. It should be tailored to fit the internship profile.
Build connections and create a network
For a flourishing investment banking career, you must master the art of building connections and networking. Establishing relationships with corporates and professional investment bankers can help you stay updated about the latest job profiles in investment banking.
One great way of building connections is to stay in touch with your peers and seasoned professionals. Not only can they provide you with insightful career guidance, but they also can facilitate your career progression in the coming years.
Approach the right people
You must approach the correct person to ensure that your CV stands out among other candidates. Confidence is the key to writing your job application. Make sure to highlight your skills and strengths to attract the right eye.
A career in investment banking is a lucrative option in the finance field. However, it is a hard nut to crack. You must possess a robust numerical aptitude and analytical and interpersonal skills. Also, you have to be diligent about building your network and developing your communication skills. Nevertheless, with dedication, the proper education and guidance, you can successfully establish yourself in investment banking.