What It Takes To Be An Investment Banker

Pursuing a career in investment banking is the ideal choice if you're seeking for a flexible work with high income and excellent benefits. Investment banking is a fascinating industry with many options. You can engage in portfolio management, credit analysis, mergers & acquisitions, and asset management. Even if the hours are unexpected and even difficult, having a daily say in how businesses operate is satisfying. Make sure you understand what it takes to become an investment banker if you're thinking about making this job your next career step.

What is Investment Banking?

An individual or business may receive financial services from the investment banking sector. Investment bankers manage mergers and acquisitions, create financial plans, and offer business strategy advice to firms. Investment bankers can offer a variety of services and are also in charge of determining a company's financial situation.

Let's discuss what it takes to become an investment banker now that you are aware of what it includes. When considering a career in investment banking, bear the following in mind:

A solid undergraduate degree in finance, economics, or any other business-related field

Expertise in Excel spreadsheets

Excellent written communication skills

Strong negotiation skills

Personal drive and ambition

What does an Investment Banker do daily?

Every day, an investment banker performs a wide range of tasks. A typical day could involve anything from meeting with clients to undertake due diligence to conducting market research for a specific company. These bankers must be adept at using technology because they frequently work with computers. You may occasionally have to move because the profession requires a lot of travel.

How to Become an Investment Banker

Getting a finance degree from college is the first step. You must possess a minimum of a Bachelor's degree in accounting or finance from a university recognised by the Association of Collegiate Business Schools and Programs (ACBSP). Even if you don't intend to work in banking, earning a degree in finance will still be helpful because it will give you useful abilities that are applied across the sector. If you decide to pursue a career in investment banking, you'll also need to pass the Uniform Investment Advisor Examination and the Series 7 exam.

Searching for internships is a vital next step. You will have excellent chances to obtain experience before being hired for your first employment in investment banking. Through your school, professional associations, or online job boards, you can locate these internships. Finally, before entering this profession, be aware of the type of compensation you hope to receive. For entry-level work as an investment banker, you should be able to anticipate earning roughly $70-75K annually plus benefits.

Why it's a Good Career Move

Investment banking is a fiercely competitive field. Although it is difficult for a recent graduate to enter into the industry, the numerous advantages make it worthwhile. Additionally, there are numerous employment options available, and you can learn skills that will be useful to you in the future.

Here are some other reasons why it's a good career move:

You can work with all types of companies: private, public, or nonprofit.

The hours are unpredictable and can be challenging at times, but they're also rewarding because you have a voice in the inner workings of companies daily.

You'll learn about business strategy and how to identify key trends.

Investment banks offer diverse opportunities: asset management, mergers & acquisitions, portfolio management, or credit analysis.

How to be an Investment Banker in India

In India, you can either obtain a bachelor's degree or a postgraduate degree to work as an investment banker. A bachelor's degree requires at least four years of study, after which the candidate must be hired as an assistant banker. It will enable them to progress through the corporate levels and eventually become an associate or vice president. You must have completed a minimum of three internships after receiving your bachelor's degree and be at least 21 years old to be considered. If you are under that age, you must have finished three years of undergraduate studies in order to apply.

How long does it take to Become an Investment Banker?

An investment banker can become one in about 5 years. The sector is competitive and difficult to break into without a lot of effort and commitment.

Salary of an Investment Banker in India

In India, the average annual salary for an investment banker is 9.6 lakh INR. You can anticipate making up to 2.46 lakhs per year as a junior investment banker, and as you advance in your profession, your pay will rise dramatically.

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