The career path to investment banking is quite astonishing, especially, if see the work that an investment banker gets to perform.
So, for everyone who does not have much knowledge about the IB field, I should tell you that investment bankers carry out the most interesting work in the finance arena. They are responsible for raising funds for organizations that aspire to expand or require money for operations.
Apart from underwriting investments, investment bankers are also involved in managing public offerings, mergers, acquisitions, and other finance-related activities. So, if you feel that you are cut out for this, you should definitely give a good read to this article as it covers everything that an aspiring investment banker should know about.
Here is what you are required to do, in case, you wish to become an investment banker.
- Gain proper financial education:
The first thing that you need to begin your investment banking career is to earn a bachelor’s degree in accounts, finance or business or economics followed by an internship in your final year so that you practically apply the theoretical knowledge you gained during your undergrad. This way it will be much easier for you to attain an entry-level job.
Now, if you want to place yourself at a higher position in a well-known bank or firm, you will be required to pursue an MBA that focuses on finance. In this manner, you will become eligible for all the best-paying jobs in the IB sector.
- Pursue Investment Banking credentials
Once you complete your bachelor’s and start looking for jobs, you are needed to get an authorization from the widely-known Financial Industry Regulatory Authority that will provide you with the license to sell investments.
This regulatory body offers many investment banking credentials that you can gain after passing several examinations.
- Give your best at an entry-level job
Nobody reaches to the top overnight. You got to work through the rough patches in your career to touch the sky.
once you get into an entry-level job, the employers are going to judge your abilities in order to decide whether you are apt for any higher level job or not. The Bureau of Labor Statistics refers to this policy as ‘up or out’. So, if the employer feels that you are an underperformer and not worthy enough to be given any major responsibilities, you could be removed from the firm. Which means you have to be extra cautious about giving you the best in the initial phase of your career.
- Make your bosses realize your worth:
Every employer looks for a high achieving employee, so, you have to give them what they want. In order to maintain your position, you will need to fetch new accounts and meet your sales goals effectively.
Moreover, leadership is a quality that can make you go places in your career as it is considered as an important criterion when employers are required to select people for supervisory or management positions.