Before jumping over to why so many people want to pursue a career in Investment Banking, let’s peep into what Investment banking entails and what it takes to be an investment banker.
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What is Investment Banking?
The investment banking segment is the strongest pillar of the finance and banking industry. It propels the wheel of the economy by acting as a mediator between corporations seeking fund and investors looking to park their wealth. This channelling of funds is on a very high scale and involves high profile individuals, corporations and government bodies.
Investment banking is a specialised segment of the banking industry that deals with high stake investments and provides financial guidance to investors. In addition to this investment banks also help to facilitate IPOs and M&A deals by leveraging their large professional network and financial expertise.
Given the crucial function that the investment banks perform, people are keener on pursuing a career in this industry. How can you get a job as an investment banker? It is a common question among individuals who are aspiring for a career in this domain. Well, the answer to this question is very subjective and requires personal evaluation.
If you are still in the early phase of your career development, you can opt for a bachelor’s degree in statistics, economics, mathematics, commerce, or any relevant discipline. You can boost your prospects for a job just after graduation by enrolling for an investment banking certification course.
Investment banking certification provides you with a comprehensive understanding of the investment banks. In addition to this, it imparts you with relevant technical skills and practical industry exposure. This can help you stand out of the competition by demonstrating your specialised skillset.
Why Investment Banking?
Investment banking is among the most prestigious career opportunities in the finance and banking industry. The investment banker title has its charm; it is also considered among the most rewarding career opportunities out there. So why is it so popular among people who want to pursue a career in finance?
Well, most people are lured in by the fat cheques that the investment bankers make. Some people are simply passionate about working in the investment banking industry and some are driven by the investment banker lifestyle. There are various reasons why people join the investment banking industry but the majority is looking forward to making good money. It is among the few professions where simple graduation in disciplines like economics, statistics, mathematics, etc. can help you earn 6 figures income.
The Investment Banker Lifestyle
One of the most prominent reasons why young college graduates want to pursue a career in this industry is because they want to enjoy the investment banker lifestyle. Investment banking is known for its compensation, it’s is far higher compared to any other industry’s professionals at a similar level. People are attracted to the glamour and charisma attached to this role, the high-profile parties and exotic island hospitality is more than enough to jump into this field.
The Status Quo
Investment bankers are usually involved in high-profile deals and they work with high-net individuals from celebrities to entrepreneurs, this gives them exclusive access to information and people. The title of an investment banker is held in very high regard by people around us. It helps to demonstrate a distinguishing trait, a title held by only a few percentages of the population makes you stand out from the crowd.
Some people in this industry are simply driven by passion more than anything else. They like to crunch number and look at stock indices and analyse stocks. They usually want to work in the finance sector from a young age. In addition to this, they are good at their job and thus they enjoy fairly higher compensation.
Also Read: Scope of Investment Banking