First learn and then Earn as an Investment banking Professional

Wondering how to get into a career in Investment Banking? Then take a breather and check out this pathfinder that can gradually lead you through the cross-roads and take you to the doorstep of your dream job. Just find out if you posses the following qualities:

1. An exceptional work stamina
2. An excellent communication skill
3. Proficiency in offering valuation estimations and backing up the calculations logically.

If you can say a confident ‘Yes’ for each of the above, then there is every reason to start dreaming of a career in this sector and help people take the right decision about managing their finances and portfolios. Apart from graduates and masters in finance and accounting, recent university graduates from other disciplines and professionals with 3-4 years experience may also find a lucrative career option in investment banking.

Before we move on to the educational qualifications and other criteria let’s peep into the different areas and the departments that are there in Investment Banking.The different fields where you would have to work are as follows:

1. Finance
2. Investment Research
3. Investment Banking
4. Investment Management
5. Private equity
6. Securities and trading
7. Compliance
8. Legal and management controls
9. Information risk management
10. Services
11. Technology
12. IT
13. Human resources

The banks here are divided into tier1 and tier2 on the basis of metric. Among the tier1 bank you will find:

1. Bank of America Merrill (New York City)
2. Barclays (London)
3. Credit Suisse (Zurich)
4. Duetsche Bank (Frankfurt)
5. Goldman Sachs (New York City)
6. P. Morgan (New York City)
7. Morgan Stanley (New York City)
8. U.S.B. (Zurich)

The primary objective of this sector is to underwrite new securities issued by clients and providing other services such as mergers and acquisitions advice, private wealth management and other types of professional help. These functions are mainly carried out by three departments:

1. Front Office-Since it generates revenue it is the most important and prestigious department. The two main areas are Investment Banking and Markets including sales trading, research and structuring.
2. Middle Office-It analyses and evaluates the risk taken by the front office.
3. Back Office-It does the transfers on a daily basis and makes sure that there are no mistakes in the whole process.

So that was a precise picture of the different departments and areas. Now it is time for the degrees, educational qualifications and the training courses that can ensure your entry into this investment banking field. Before we start you will have to understand that all the organisations here, being high-profiled ones gone only for the most brilliant of performers. Banks like Goldman Sachs desire a degree in Ivy League, Red Brick or Grande Ecoletype of school. Since they deal with the most renowned sections of the community they naturally hire only those who are well-versed in both financial and interpersonal skill. Even non-business individuals nurturing a passion for this sector stand a chance. Find out how.

A) How can an Engineering degree make things easier for you?

Worried about facing professionals like accountants, consultants, lawyers and liberal arts major. Stop worrying and start focussing on your number crunching skill. Show your interviewer that engineers can be equally good with numbers and communications.

B) Can an MBA degree help?

Apparently an MBA does not help. But sometimes banks pick up people directly from the colleges that award an MBA degree ranked by.com. Mind you they are only those on the top of the list. Listed below are the colleges.

1. Columbia Business School
2. University of Pennsylvania (Wharton)
3. London Business School
4. Cornwell University
5. INSEAD
6. Harvard Business School
7. New York University: Stern
8. HEC Paris
9. Stanford Graduate School of Business
10. Yale School of Management

C) What you will need if you are from a non-target school?

Surf for those jobs that require more skills than academic knowledge. Find out the trainings and courses that may help you. Side by side keep on trying to get into a firm for an internship. An internship from any bank no matter how insignificant is valuable. And yes don’t forget to give a financial look to your resume.

D) What to do if you have no internship or any prior experience?

It is true that you will have to go through some hard times while confronting those who have degrees, internships and experiences. But it won’t be that difficult if you have the required mental and emotional horsepower. It is never too to learn. Read good books and newspapers like The New York Times, The Economic Times, The Wall Street Journal and The Financial Express regularly. Listen to the news and follow the trade press. Sign up for the trainings and courses that can help. Clearing the BIWS certification course with 90% can give you a bright future. Here experienced professionals will train you up. An unlimited Q&A support is also provided for 365 days a year.

The BIWS also provides an IB Networking program that will teach you to write ‘interview inviting email’. Here you can learn ways to request informational interviews conduct them and the follow-up style and be able to convert contacts into interviews. Before winding up let us brush up on a few tips for cracking that dream interview.

1. Revise your lessons well before stepping into the interview-room.
2. Be clear about why you want the job.
3. Gather as many information as possible about the recruiting company. They will be happy to hear you talking about them.
4. Update yourself on current economic news and incidents.
5. Get in touch with your friends and alumni and learn about their experiences.
6. Keep multiple copies of your resume ready with you during the interview.
7. Keep yourself cool and be very tactful while answering the ‘tell me about you’ question. Your answer may become the gateway to a renowned company for you.

HAPPY JOB HUNTING

Avadhut Nigudkar is 12 years experience as finance training programmer, he loves to write on banking and finance courses