Investment banking has become a popular career choice. Investment bankers help private companies, governments, and institutional investors with capital raising, mergers and acquisitions, and many other complex financial transactions. They are adept at providing strategic advice on how to raise funds and improve business, the risks involved, and the current dynamics of the investment climate.
Many students wish to begin their career in investment banking. Individuals with the necessary skills and desirable traits can become prospective employees for big companies. If you are thinking about how to get into investment banking and increase your chances of success in your investment banking career, here are all the required details.
Obtain Degree and Certifications
Most companies looking for investment bankers need candidates to have completed a Bachelor’s degree. The degree may or may not be in a finance-related subject. However, the degree must be related to business, management, or economics. More senior positions need the applicants to have postgraduate degrees like MBA. The candidate must know how to use Microsoft Suite, perform financial analysis, and make data-driven decisions. Different companies set different criteria for minimum grade point average. Also, consider pursuing certifications to enhance your learning and academic skills.
Consider an online investment banking certification
Many prestigious online institutions also provide investment banking courses online. These Investment banking courses prepare the students for high-demand job roles in Investment banking. They provide exhaustive investment banking learning and also help the students with placements.
Complete Investment Banking Internships
After getting into an investment banking institution, attending internships is also a must. These internships help develop practical and technical skills. The interns also get a chance to build networking, easing their entry into the job market. The students gain hands-on experience by working with various company clients. Students who perform excellently are given lucrative job offers and absorbed by the same companies.
Attend Workshops and Events
Attending conferences and events will help you build connections with industry stalwarts. You can talk with employers and fellow bankers to understand the unraveled investment banking ideas. Ensure to expand your network by remaining connected with employers on social media. Use channels like LinkedIn, Twitter, Facebook, and more.
Enhance your Skills
Some key skills required for a successful investment banking career path include:
- Financial Skills: To become a successful investment banker, develop your financial analysis. Learn financial analysis, valuation, understanding and reporting financial statements, performing ratio analysis, evaluating investment opportunities, etc.
- Financial modeling: It is another necessary skill. The candidates must remain proficient in building and analyzing complex financial models and determine their impact on a company’s financial status.
- Communication Skill: Excellent communication skills are vital for all investment bankers. This helps them interact effortlessly with clients, stakeholders, and management.
- Ability to work in a Team: Working within and collaborating with them to successfully manage complex projects is also a much-needed attribute in this profession.
- Critical Thinking Skill: Investment bankers need to hone their problem-solving skills. After carefully assessing situations, they need to identify perfect and feasible solutions. Their sound judgment is vital for the growth of their organization.
Select your Job Role
Investment Banking is a vast field. While one investment banker may give essential advice on the stock market, another would perform financial transactions, research, etc. You need to choose one of the common job roles of investment bankers:
- Financial Advisor– Financial advisors assist clients with crucial financial advice such as which stocks to invest in, retirement planning, etc.
- Financial Analyst– Financial or Business Analysts document business processes and systems, identify risks, and devise solutions.
- Relationship Manager– As the name states, a relationship manager is responsible for building cordial relationships with clients and customers.
- Accounts Manager– Account Managers establish a link between the company and their employees or customers. They perform routine daily tasks for various clients and handle their accounts.
- Research Analyst– A Research Analyst role involves conducting research, analyzing the data, preparing research reports, etc.
Wrapping up
When it is time to submit applications, the investment bankers must start preparing for interviews. Usually, candidate recruitment involves many rounds of interviews. Know how to draft an impressive resume and cover letter. Be ready for a preliminary interview that asks basic questions to determine whether the candidate matches the role. Several behavioral and technical interviews are designed to test the candidate’s knowledge and skills.
All of these things will help you kickstart your career in investment banking. Perform well in academics, build skills, create a wide network, apply, and ace the interview!