What Do Investment Bankers Really Do?
Investment bankers famously have a central role in the launches of initial public offerings (IPOs) by young companies preparing to go public. However, that’s just one example of their work assignments. Essentially, investment bankers are financial advisors to corporations and, in some cases, to governments. They help their clients raise money. That may mean issuing stock, floating a bond, negotiating the acquisition of a rival company, or arranging the sale of the company itself. Investment bankers, using their expertise, tailor their recommendations to the present state of economic affairs.
Why Do People Become Investment Bankers?
One attraction of working in an investment bank is that you’re sure to work alongside some bright minds. The reason for that is very simple –> investment banking promises enormous wealth and an exciting career –> therefore, it attracts some of the sharpest, most intelligent, and most driven individuals in academia and the workplace.No significant prior experience is required at the junior level: Lots of similarly skilled career paths require very specific credentials (i.e., a certain undergraduate major) or an advanced degree. Investment banks definitely look for certain traits and types of experiences in their junior hires, but they take people straight out of college from various academic backgrounds.
How To Become An Investment Banker?
Everyone knows that investment banking is a lucrative field. Entry-level jobs quickly provide six-figure salaries. Senior investment bankers earn tens of millions of dollars every year. Here are the steps for reaching the top of the investment banking field:
1. Earn an undergraduate degree from a top school, with a major in finance, economics, or business.
2. Get an advanced degree, preferably an MBA.
3. Get an internship at a top firm to gain on-the-job training and a chance to impress potential employers.
4. Network like crazy to find a job.