Investment Banking as a Career
The investment banking industry offers one of the most lucrative and rewarding career prospects for individuals aspiring to make a mark in the finance industry. So what’s so lucrative about the job that so many people want to join it?
Well, at first glance, the remuneration certainly seems like the cherry on top and that makes it far more lucrative for those who want to make a fortune for themselves.
Most of the people who aspire to become investment bankers are unaware of the work it takes to survive in this industry, let alone thriving. If you are dedicated and hardworking with good financial acumen and social skills, you will certainly go a long way in this sector.
Those of you who are only charmed by the high-profile deals and monetary benefits and not the work won’t survive in the long run in the investment banking sector. The role of an investment banker is very dynamic and involves overviewing a lot of things.
From networking with your clients and industry experts to researching and conducting complex financial analysis, there’s a lot that you need to do for being a successful investment banker.
It is certainly one of the best choices if you are passionate about finance and investing and won’t mind working 60-70 hours per week. One of the most mainstream questions is how to become an investment banker and will an MBA degree help or not.
Let’s delve deeper into the subject to obtain a comprehensive understanding of the matter.
Will an MBA Degree Help?
So coming to the big question, will an MBA degree help you break into the investment banking industry? Is it worth getting an MBA in investment banking? Well, at first glance, yes, an MBA degree surely improves your chances of getting into the investment banking industry but it’s not a necessity in many cases. If we go deeper into addressing this question, the answer is very subjective and highly varies from person to person.
There are a lot of factors that count when getting into the investment banking segment. First and foremost is your educational background, it has a huge role to play as it helps to establish your foundations. So, let’s take an example, there are two people named A & B. A has always been driven towards business and commerce and has an educational background in the same domain. B, on the other hand, has a technical background and pursued engineering.
Let’s say A pursued an undergraduate program in Business Administration or Commerce. The chances of A getting a job as an investment banker straight after completion of this under graduation program is higher as he is already aware of the basics of investment banking.
Comparing it with B who has a technical background, A will surely beat B if they both are to apply for an investment banking job in most cases.
B can now improve his/her chances of getting a job in an investment banking firm by completing an MBA degree in Finance as it will fill up the knowledge gap, A too can opt for an MBA and improve his chances further for getting a high profile investment banking job.
So, there are two aspects to this whole scenario, first, what type of job are you looking for? Is it an entry-level or a high-profile one? Secondly, what is your educational background? Have you completed any investment banking courses?
So if you are looking for an entry-level job and you have a relevant educational background then you don’t need an MBA degree to break into investment banking. However, if you are looking for a high-profile job then an MBA degree will surely help as it adds more credibility to your profile.
In case you don’t have a relevant academic background and you are looking to switch from a different industry, an MBA degree will surely help your cause. If you are short on time and monetary investment then an investment banking course will help you land a decent job in this industry.