As you can see, this is not your typical nine-to-five type job. With the many projects that can be happening at one time and very hard deadlines looming at an ever increasing pace, investment banking candidates can be working in a fast-paced environment.
Personal Requirements
Investment banking is a career suited for those who have an ability to calculate numbers quickly without the use of a computing device, have a great ability to work long hours and not tire, are risk takers, can analyze business plans and financial statements, and can formulate plans for moving forward.
Personal interaction skills are also very important to a person looking into investment banking as a long-term career. Most of your time will be talking with potential clients, making mergers, and selling plans for investments and trades. The way you handle people will greatly determine your success. One of the upsides of investment banking is that you can rapidly rise to the top of the investment firm if you are good with people. The more deals you can make, the more you advance. Knowing how to deal with people, especially when they are losing money, are very hard to deal with, or scrutinize every move you make, is a strong asset to any investment banker.
Educational Requirements
Many companies look for qualified candidates to fill their investment banking positions who are from top-level universities and graduate at the top of their class. In fact, many of these companies begin the recruiting process before the student even graduates. A four-year college degree in banking, finance, accounting, or other financial area is most helpful.
This doesn’t mean that a degree in some other field disqualifies you from consideration. Most generally if you have a strong aptitude for finance, numbers, calculations, and critical thinking, you can begin your career in investment banking.
Getting Started
During the first few years of your new career you will be generally involved in the research, analysis, and ground work with most projects. After a few years of showing yourself to be trustworthy and dependable, you can move up into a more directorate-type role. This is where you begin to acquire new projects, sell yourself to other clients, and begin to make money for the firm you are working for. Supervisory roles are then the next step in your progression where management of people and projects is the main responsibility.
Solid Career Path
If you have a passion for finance, organizational structure, and being in a fast-paced environment, then investment banking is the career choice for you. Continue to be self-motivated and differentiate yourself from the rest of the crowd by establishing your credentials and being involved with the company in and out of the building. Investment banking is a rising career choice and will continue to be so even in these trying economic times.
