You will be required, in your capacity as an investment banker, to assist customers in raising cash in order to support their operations and develop their companies, all the while working in the capacity of a corporate financial consultant. Therefore, educate yourself on how to enter the investment banking industry.
1. Confirm if this is the ideal employment for you before accepting it.
Unlike many other careers in the finance industry, investment bankers frequently come from a variety of different backgrounds. Additionally, investment bankers frequently use their transferable skills to join other related professions in the future, such as possibly moving into a research, trading, or structuring post.
On the other hand, those who are interested in investment banking and investing as a possible profession frequently match a specific person profile, especially graduates who are looking for a challenging and perhaps stressful work.
Although it might be difficult at times, the financial benefits that come with working for one of the top investment banks make it worthwhile for many people. For instance, starting out as a corporate investment banker may make you between £30,000 to £40,000, while starting out as an operational investment banker can earn you anywhere from £25,000 to £50,000, with quick wage growth being the standard in this field.
If you go into the process with a clear understanding of what is expected of you, you will be better able to keep your attention on the task at hand, which is to make the most of any work experience or employment prospects in investment banking that come your way.
2. Make a decision on your future in investment banking.
In addition to the many diverse career paths available, people who work in investment banking may also choose from a wide variety of professions, all of which, although having certain commonalities, call for quite distinct sets of abilities and personalities.
If you are working on the operational side of things, the processing and settlement of transactions will be the responsibility of the team that you are on. You'll need to be a diligent worker and possess good numerical and analytical abilities in order to succeed in this position.
Corporate investment bankers are financial professionals that provide a variety of banking services to other businesses and organizations. You can be involved with loans, mergers & acquisitions, bonds and shares in the financial industry. You'll need to be skilled at negotiating and have great interpersonal skills in order to succeed in this position since you'll be delivering strategic recommendations to your customers while working under tremendous pressure.
One of the most prevalent jobs for recent college graduates is that of an investment analyst.
3. Study for an investment banking degree
Although many employers put significant efforts towards educating their employees in this field, the majority of entry-level positions in investment banking still need a bachelor's degree at the very least. This does not have to be in a field linked to finance, but it should have a significant emphasis on mathematical concepts, such as economics or business/management. The major investment banks will normally seek a grade of 2:1 or above out of its applicants.
When it comes to professional investment banker degrees, you have a variety of alternatives to choose from if you are thinking about going to university and are already committed to a career in the financial markets. If this describes you, then read on.
To begin, there is the Bachelor of Science in Finance (Investments) degree offered by the University of Reading, which may be completed in three years full-time and is an associated Chartered Financial Analyst (CFA) program. Both the industry-recognized BSc Finance, Investment and Risk and the BSc Banking and Finance are available to students at the London Institute of Banking & Finance. The BSc Banking and Finance has an optional industrial placement that lasts one year.
The CFA Society of the United Kingdom (CFA UK) is the organization that presents the entry-level Certificate in Investment Management (IMC) award. This award is designed to deliver the threshold competency knowledge in research analysis, portfolio management, and other important investment activities. You have the option of completing the Level 4 certification on your own by self-study and by enrolling for the IMC test on your own, or you can do it through a recognized training provider like BPP or Kaplan.
When you are thinking about continuing professional development (CPD) and furthering your education to become an investment banker, you may want to consider enrolling in the Chartered Financial Analyst (CFA) program. This is a highly regarded investment management qualification that is recognized all over the world (equivalent to a Masters). In order to qualify, you will need to have either a degree, four years of professional job experience, or a mix of employment and education that adds up to a total of four years.
You also have the option to pursue a part-time Master of Science in Retail and Digital Banking via the School of Management at Cranfield University. This MSc program covers several elements of investment banking. In addition, the Chartered Banker Institute (CBI) has granted this postgraduate program its accreditation, which means that it is a legitimate route to take toward earning the Chartered Diploma Professional certification and becoming a Chartered Banker.
Other schools that offer postgraduate degrees in finance include the London School of Economics (LSE), Bayes Business School, and Warwick Business School, to name just a few of the many schools that offer such programs. If this is something that interests you and you want to learn more about it, you should look into postgraduate courses in investment banking.
4. Complete an internship in investment banking.
Investment banking internships are available throughout the summer months at a number of the world's most prestigious financial firms, such as Barclays, Goldman Sachs, J.P. Morgan, Morgan Stanley, and the RBS Group.
For example, J.P. Morgan provides penultimate-year college students with the opportunity to participate in a nine-week investment banking analyst program. During this program, participants will develop crucial technical skills by working on deals and transactions for the company's customers.
You may get a solid foundation in investment banking via a combination of on-the-job experience and instruction in practical skills. After graduation, the students who have shown the most promise might be extended employment offers for full-time work.
However, before you submit an application, it is essential to gather all of the necessary information so that you can make an intelligent choice. Learn about the many options for gaining job experience, and then choose the one that seems to best fit your interests. This will get you started. You may get a sense of whether or not investment banking is right for you by viewing short movies in which individuals share their experiences working in the industry.
When putting up your application, it is in your best interest to research the requirements of the selection process. In addition to ensuring that your curriculum vitae stands out and is an accurate picture of your talents and capabilities (such as teamwork, self-discipline, and persistence), you may also be required to produce an essay. Be sure that your curriculum vitae (CV) is suited to the job description of the particular internship for which you are applying, and that you demonstrate that there is a clear link between the two.
This piece of advice is also useful for students who are still in school but are interested in applying for graduate finance programs; by doing so, they will be better prepared to submit their applications when the time comes.
Because investment banks put such a significant emphasis on previous work experience, if you want to increase your chances of being accepted into one of their graduate programs, you should first do an internship or work placement at the institution in question.
Visit the J.P. Morgan - Student Programs website to learn more about the many career opportunities available to students and recent graduates at J.P. Morgan, including its internship in investment banking. You might also look for internship opportunities in banking and finance.
Check out the best UK banking apprenticeships if you're thinking about becoming an apprentice for one of the country's big investment banks.
5. Make an effort to attend events and network.
Your careers service will provide you with the opportunity to sign up for information sessions, and recruiting events will provide you with the chance to talk with potential employers. You may get a taste of what your day-to-day job as an investment banker can include by participating in virtual seminars that are hosted online.
In the meanwhile, there is no excuse for not being well-connected with employers on networks such as LinkedIn; in fact, a significant number of individuals obtain employment with the assistance of social media platforms.
When you finally get your first job, whether it's a part-time gig or an internship, you should make it a point to stay in contact with the people you worked with before. They are not only able to give essential professional assistance, but they also have the potential to assist in your career growth in the future.