Every now and then in time, you will hear debates on which career should you choose to enjoy a secured future, and most often investment banking as an option will rise up in conversations, as the destination which will take you to the competitive world of finance, with some clear advantages. Money is the most attractive of them all.
There is a lot that goes into becoming a successful investment banker, the initial investment is high, and clearly not for the faint hearted. Most individuals who have been on the other side of the fence, have one piece of advice for people looking forward to pursuing their career in investment banking, they say, you need to love the job, the process more than the outcome to survive in the industry, you need to have the love for investing, financing, doing business, travelling and meeting new exciting people, if you join the industry for the name tag, the parties the fame and the bling of being an investment banker, chances are you will not survive to reap the benefits of the industry.
The high pressure, long hours are not for the soft hearted. And so if you survive the initial years there are tremendous rewards waiting for you, making all the hard work worth it at the end, what are they?
Your first salary will probably be higher when compared to any other industry, and you will be learning a lot more than new graduates. The bonuses also offered are pretty steep and with time will only increase.
Work Life Balance
Yes, it is true, only few will consider 100 hours’ week, sleepless nights and no social life amongst the positives. However, a change of perspective – once you reach the height of exhaustion, your mind and body will come up with the demands and appreciate anything short of physical breakdown as a holiday and perform in extreme environments with accuracy. Also, such a schedule will help you understand demands, in the long run, creating a sense of urgency in the way you work.
You will be working with the brightest minds in the industry, and it has its benefits. Attention to detail, multitasking, speed and accuracy in tasks, people skills, negotiating skills are but a few that you will pick up while working on the line. Investment banking has the most lateral skill sets imaginable. Working in investment banking can be explained as one of the hardest parts of your career and if you have done that in the initial phase, everything that comes later is doable and comparatively easier. Many former investment bankers have successful avenues in lateral industries due to the acquired skills from their initial years.
So if you like the fast paced, results driven world of banking, and are fine with letting go of your social life for a while, then investment banking will definitely be a great career choice. If not a lifelong career option, it will surely be a great training platform for entry into other professions. So to get your dream job in the top investment bank, join our certification course in Investment banking (CIBOP).