As the world recovers from the economic depression witnessed in the 1930s, the demand for investment bankers is also increasing once more.
This means that investment banking is among the most promising and lucrative careers of the 21st century.
However, some people don’t even have the slightest idea on how to become an investment banker.
We have some helpful tips to set you on the right path to becoming a talented investment banker.
An investment banker acts as a representative of a financial institution that works with other corporations, individuals or government institutions to invest in stocks, hedge funds or bonds.
An investment banker also assists with the mergers, IPOs or acquisitions.
Right Academic Qualifications
To become an investment banker, you should either have a Bachelor’s degree or a Master’s degree in business administration.
However, other degrees such as finance, accounting or mathematics are also accepted.
Since investment bankers come from a variety of backgrounds, they are usually taken through a vigorous training session that lasts for weeks.
Fresh graduates are enrolled as interns and assigned a mentor for six months before they are finally allowed to handle crucial assignments.
Licence and Certification Requirements
Once absorbed, the investment banker has to register as a representative of his or her company by the relevant authorities such State Security Agencies.
In most cases, an investment banker must pass a series of examinations before being registered. Luckily some firms guide their new recruits through the whole process thus making it simple.
The Salary of an Investment Banker
In the United States, the US Bureau of Labor Statistics groups investment bankers into categories under which their salary scale is determined.
Investment bankers under securities and commodities earn an average annual salary of $71,500. However, since most investment companies give bonuses to their employees, these figures can rise to $100,000 per annum.
Finding a Job as an Investment Banker
If you want to land a very good job, you should be good at networking while still in school
Many financial institutions usually recruit from top business schools or absorb interns who have worked with them.
If you didn’t attend a top business school, then you need to tap into networking a lot.
You can also look up for vacancies from various online job hunting platforms.
Ensure you are ready for interviews all the time.
Don’t be shy to read and interpret various financial presses and journals on a daily basis.
This will keep you abreast with the current economic trends and also sharpen your analytical skills.
If you follow the steps stipulated above, I guarantee your skepticism on how to become an investment banker will be replaced with confidence and the willpower to venture into this career path.