How Much Money Do Investment Bankers Make?
Investment banking is a lucrative, yet demanding career path which requires hard work, good attitude and excellent communication skills. Read onto find out the biggest perks of this career.
Investment banking is an envied coveted industry that many aspire for. It holds a status symbol in the society and investment bankers earn the respect of their peers and neighbors. You may be wondering why this job is so valued. This is mainly since it is a high risk, high return kind of an opportunity. A career in investment banking is lucrative from the start and builds up to ensure that individuals in the field can lead a luxurious lifestyle.
Many companies also provide their employees in finance with an opportunity to learn and understand the field of investment banking better by pursuing investment banking training. This, in turn, will also help the company evaluate the decisions made by bankers to raise funds for their business. Individuals who work in their field need to have qualities such as charisma, grit and quick thinking. Investment banking also requires dedication and ability to cope with a high-pressure work environment.
Even beginners who have completed an investment banking course can expect salaries of 50,000 dollars in the U.S. making it a big career for many. On the downside though, there is a huge demand to invest long working hours to achieve success in the field.
While the hours are long, the base fee that investment bankers start at ranges between 25-35$ per hour but it also entirely depends on the firm that they work for on Wall Street. Read onto to find out the different elements of the money that investment bankers make.
In their 20s
If an individual has started their career in investment banking in their early 20s, this is the time that requires the most amount of time and dedication to learning the tricks of the trade. Typically, investment bankers spend between 60-100 hours per week at work and can earn up to 100,000$ annually not counting the bonus depending on their work. The entry level role for an investment banker is that of an analyst and this predominantly deals with a lot of paperwork.
In their 30s
As they progress, the next role in question for investment bankers in that of an Associate who can earn anywhere between 100,000-120,000$ per annum. A talented young analyst can also aspire for the role of an associate at the beginning of their career and earn a big pay cheque. The salaries are also completely dependent upon the ranking of the firm, the clients and size of the firm.
In their 40s
Someone who has moved up the ladder in investment banking can aspire to be a Vice President or a Director in their late 30s to early 40s. Their pay cheques can range between 120,000 to 300,000 $ or for someone very senior it can be up to a million dollars. Investment bankers are well paid mainly since they are responsible for making or breaking a company and its business and their skill-set is very niche.
A lucrative career path, investment banking may demand long working hours, quick thinking in a stressful situation and more. However, the results can be deeply rewarding to individuals who pursue the same.