Career and Scope of Investment Banking in IndiaJune 18, 2018
Investment banking is a truly up and coming career option that is becoming growingly popular among the ambitious youth in India. An investment banker, simply put, is someone who helps their client (often a bank or a financial firm) invest their money in a way that will help them yield the highest possible returns. These jobs come with a lot of responsibility like dealing with debt, stocks and bonds, mergers and acquisitions, securities and derivatives.
Being a successful and good investment banker is bound to be a challenge. Cracking this code requires you to be great with numbers. In addition, you need to also possess substantially good verbal and written communication skills. Honing your presentation skills will also benefit you enormously to land that dream job. Investment bankers are required to do extensive research of the market before making any suggestion about potential investments and would thus need to have their research and analysis skills on point. Endurance is also a key in this highly-stressful job with long and, often, odd hours.
That being said, there are also a number of reasons the youth in India is flocking towards this career. It is an exceedingly rewarding job with rewards in monetary terms as well as personal and career growth. It is a fast-paced job that requires you to be on your toes a lot and be constantly updated about the market – which changes a lot. This leaves an enormous scope for learning which is a truly valuable thing in anyone’s career. Another very important reason for this being a popular career choice in finance is that this job gives you pathways to bigger careers like entrepreneurship, wealth management and venture capital.
A huge reason for the growth of this career over the past few years in globalisation which has led to a booming financial sector. India is a rapidly growing economy with numerous multi-national companies setting up shop around the country. This has opened up several available positions for students who specialise in investment banking.
The good news for anyone considering this career is that you don’t require any specific stream. You can get into the field irrespective of if you have a background in science, arts or commerce as far as your subjects are related – like maths and economics. As for higher education, any aspiring investment banker in India is required to have an MBA degree (Masters in Business Administration). Some institutes also provide diplomas and certificates while some even conduct workshops for investment banking. Top institutions in India for the field of investment banking are ones like Institute of Chartered Financial Analysts of India University and Symbiosis School of Banking Management.
Along with your education, to get into this competitive field, internships are going to be your best friend. The more well-known the company you intern at, the better your CV looks to the recruiter and the better your chances of getting hired. But even getting a good internship is hard so you can always start out small at a smaller bank or a boutique firms. Experience is a key to rising higher as an investment banker and internships are meant for the exact purpose. Top Investment Banks like the Citi Group, JP Morgan and Deutsche Bank are great places to aim at.
With your degree in hand along with your internship experiences, you can expect to earn anywhere between 6-7 lakhs per annum which will only grow leaps as you work more and gain more experience. If you think that you can efficiently fill the requirements and have a passion for finance, Investment Banking is the ideal choice for you.