Investment bankers play a crucial role in ensuring the success of their client's business ventures. They help them to raise the necessary funds required for undertaking these projects. This includes processing and managing complex financial transactions. This includes mergers and acquisitions. They also advise clients on ways to improve their businesses.
Also, they must stay constantly aware of changes in the investment climate. This is to provide expert advice on financial risks. It helps you stay two steps ahead during tough times.
Many students aspire to have a career in investment banking. It's because it offers high-paying job roles. But, since there is so much competition, investment banks are very selective about the skillsets they want their prospective employees to have. Some desirable traits expected of them include being data-driven thinkers and sales-minded communicators. Also, they need to have a strong sense of ethics and compliance.
In this article, we will discuss in detail the five strategies one can adopt to increase our chances of success in an investment banking career.
Table of Contents
Choose an investment career that befits you
Within the field of investment banking, there are various roles that, despite having a few similarities, require different skill sets and personal attributes. For example, the operational side of investment banking requires the individual to process and settle transactions. Therefore, the investment banker working in operations must be hardworking and analytical with excellent numerical skills.
Investment bankers working with corporates must provide financial services to other organizations and companies. They must work with various mergers and acquisitions, lending, bonds, and shares. Further, corporate investment bankers must provide strategic advice to clients and operate under extreme pressure. Therefore, it is a necessity that they have strong interpersonal and negotiation skills.
Therefore, given the different requirements of different job roles, an individual needs to choose a career option that aligns with his skills.
Ensure that the career of an investment banker is the right job for you
Investment bankers come from different backgrounds and have many skills that can fit other finance-related professions. However, if you want a career in investment banking, you'll need to fit a particular character profile. One should be willing to get into a demanding and potentially stressful job.
Working at an investment bank can be challenging, but the rewards are worth it. Corporate and operation investment bankers can expect to make an excellent salary. The salary tends to rise rapidly in this industry. If you're looking for a financially rewarding career, investment banking is the way.
It's always beneficial to keep your expectations in check, especially when it comes to seeking out job or internship opportunities in the field of investment banking. Suppose you're clear about what the role of an investment banker entails from the get-go. In that case, you'll be better able to identify work experience opportunities related to investment banking and help you build up the skills you need for the job.
Study for a degree in investment banking
Most investment banking institutions looking for new candidates typically require them to have completed a Bachelor's degree. However, it doesn't necessarily have to be a finance-related subject. However, the degree should focus on math-intensive topics like business, management, or economics. There is also usually a minimum grade point average that must be met by those wanting to work for one of the top investment banks.
Various great learning platforms provide investment banking courses with placement. Aspirants can apply for these courses to directly enter the field of investment banking.
Apply for investment banking internships
Many top investment banking institutions provide summer internships in investment banking. These internships can be highly beneficial in developing essential technical skills gained by working on various transactions or deals for the company's clients. Outstanding students may also be given full-time job offers after completing the internship program.
Investment banking institutions place a high value on the practical skills and on-the-job experience that interns acquire. Internships allow individuals to build meaningful connections before entering the job market. This increases their chances of being offered the best positions in their chosen field.
Attend events and build a network
Attending virtual recruitment events and talks with employers can help you understand an investment banker's daily work routine. One can also continue to expand his network by connecting with employers via social media platforms such as LinkedIn, Twitter, Facebook, and others. These industry professionals will provide valuable guidance on your career progression further down the line.
Many learning platforms offer banking courses with placements that might be helpful for aspirants. Interested individuals can avail this opportunity by enrolling in the Certified Investment Banking Operations Professional course of IMARTICUS Learning. It is an online Investment banking course with placements that prepares you for high-demand job roles in the field of Investment banking.