An investment banking career involves working in the world of the United States securities exchange, in which hundreds of billions of dollars change hands on a daily basis. Stocks, bonds, mutual funds, and other financial instruments are bought and sold by large institutional investors, wealthy individuals, mutual funds, pension plans, and the general public. Investment bankers are usually required to have a bachelor's degree, and some positions also require an MBA or specialized licensure.
Investment bankers help investors connect with companies in need of money for expanding their business. One major roll of investment bankers is advising a company through its initial public offering, or IPO. Investment bankers also advise companies with regard to mergers and acquisitions. The demand for investment bankers is high, as they are often needed by both buyers and sellers to ensure all transactions are completed without problem.
Most people that pursue an investment banking career work in offices under fairly stressful conditions. Those that work directly on a sales floor may work in a loud, frenetic open space. This job requires one to move fast and think quickly on one’s feet. People in this field generally work more than 40 hours per week, potentially at odd hours.
As an investment banking career is typically pressure-filled, it helps if the investment banker knows how to effectively deal with stress.
A college education is seen as an important qualifier for those interested in an investment banking career. Employers also desire a banker who keeps current with the latest market trends. The larger majority of investment bankers have a bachelor’s degree in a financial field, such as business or economics, but many employers are willing to hire people with degrees in other fields if they have the right experience. There are several licenses necessary in investment banking and finance, depending on the service being sold. Many experienced workers acquire several in order to diversify the kind of the work they are able to do.
While education level is certainly a key consideration, most employers are more interested in a potential investment banker’s talents and skills. Specifically, employers highly value an investment banker who can communicate well with clients, work long hours, and take and give directions. Mathematical aptitude is a major plus in this industry. Investment bankers are trusted with extremely large sums of money, and they therefore may undergo a great deal of scrutiny during the hiring process. This may include a credit check and a check on criminal history. In order to succeed in the career, bankers must have a great deal of confidence in their abilities and be able to brush off rejection easily.
