Investment Banking
Investment banking can be an interesting, exciting and lucrative career as long as you’re willing to invest the time and education needed to pursue it. If your picture of an investment banker is a fat cat lounging on a tropical beach while his wealth grows effortlessly, you will soon be disillusioned!
Investment banking takes a high degree of education. A successful investment banker has earned a bachelor’s degree in business administration, followed by two more years post-graduate study to attain an M.B.A. (Masters in Business Administration). It may also be beneficial to take an ACCA exam depending on the eventual path the graduate would like to follow. The hopeful graduate then applies to become an analyst in the industry, doing most of the boring computer number-crunching necessary for financial analysis that is one of the most valuable tools in the banking industry’s arsenal. This type of on-the-job training helps teach the strategic and financial skills necessary to manage the multi-billion dollar businesses that need the skills of a good investment banker.
After a year or two as a financial analyst, you may be offered an associates position. This is probably about as far as you can go if you lack an M.B.A., although there are many success stories of bankers that have risen to the top without a formal education. These, however, are the exception. If you’ve obtained an M.B.A. and achieved associate status, you’re on your way to achieving the position of investment banker!
Although it is a fascinating field, investment banking requires long hours, often 70+ per week and frequent negotiating sessions that can stretch into the late hours or all night. You are responsible for advising companies on their financial strategies and merging with other companies. When in your office, you’ll be working on financial documents and will frequently travel to inspect potential sites of buy-outs and mergers as well as in-person consultation with your bank’s clients.
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