When considering your career options or choosing an academic major, there are certain dreams and ambitions that you may be looking to achieve. If your dream is to become a successful investment banker, there are a few things you need to know. Investment banking is no easy feat, but there are little to no big dreams that are a walk in the park anyway. Investment banking is extremely prestigious, as you deal with enormous corporations and help guide them with future endeavors. If you are set on becoming an investment banker, the following points will help you start your journey to success.
The Industry is Vast
Generally, having a degree in business or finance-related fields gives you a whole set of options. The industry is not set to investment banking alone, nor are you one of the few. There are millions of investment bankers around the world and thousands of companies. Be sure you are unique in approaching this topic and not just going in for money without contributing anything yourself. Investment banking is difficult, but it is rewarding, so look for an angle that you can benefit from and help expand on it to make yourself noticeable in the industry.
There are Numerous Career Paths Under Investment Banking
When thinking of being an investment banker, there are specific routes to consider. There are several careers in investment banking, including being an analyst, an associate, an account manager, a director, or managing director. These are in order from the jobs that require grunt work, all the way to the most critical and respectable roles. You can start your career as an analyst and climb up the ladder to finally reach that highest level.
Business and Finance Courses are Beneficial
If you are making a career shift, then your best option is to take courses. There are courses specifically for investment banking, but if you have not taken business, nor finance courses then you should do that, they will help immensely. You can also take math courses in case you need a refresher on that subject.
Internships Will Get You on the Right Track
When starting anything new, the first step you need to make right after researching information is trying it out. It is extremely important that you try out the job, even as a grunt worker to get a glimpse as to what you will be doing. Internships are the best option in that case as they are not long term nor is there a huge commitment, so in case you are unhappy you can back out of doing this job.
Before starting your career or choosing your college major, ask yourself what you want to be doing in 5 or 10 years. If it is investment banking, then go ahead and do all the research you can, and ask investment bankers for insight if you happen to know any. Understand the benefits and the disadvantages as much as you can, to avoid any unpleasant surprises in the future, and ensure that you are prepared to do what it takes to become an investment banker.