How Good Is Investment Banking As A CareerJune 21, 2019
Have you chosen an IB career? Read on, to see if you are a good fit here. Investment banking has very good scope for MBAs, undergraduates, Masters in Economics, Statistics etc, data analysts and young interns who can learn-on-the-job. If you are motivated, can take long hours in your stride, have a head for math and economics then this is an ideal choice for you with the highest payouts and great scope.
As an investment banker or financial/data analyst, your investment banking career task-list includes
• Executing issuances and client debt-portfolios.
• Advising and pitching these instruments to clients replete with credible answers.
• Creating data and market reports.
• Reporting the trends, foresight, case studies in the form of client presentations.
What is in store:
Do you realize that the high pay and pressure job sees at least 44per cent quit in the first 3 years according to the news at efinancial careers. If you value your social life the IB career will put the finished tag there as the best bonuses, high payouts and quick progress come at the cost of excellent training, continuous hard work, pressing job demands and lots of coffee or alternatives to just withstand the heat.
The Skills Required:
To ensure you do fine in IB check out the following crucial attributes.
• A minimum of graduation in finance, law, economics etc.
• Proficiency in PowerPoint presentations, Excel techniques, Office and Word suites.
• 80 plus long hours every week.
• Being an effective learner and team player.
• Effective organizer with an eye for details.
• A quick learner who takes instructions well.
• Excellent conceptual knowledge of finance and accounting tasks.
• A practical investment banking course.
• Certification of your practical skills.
• Great skills in financial modeling.
The Ladder to Climb:
Here is the figurative Investment Banking Ladder of Career Progression.
• 2 to 3 years as a Financial Analyst.
• IB Associate.
• VP- Investment Banking.
• IB Director.
• MD, CFO etc.
Internship for undergraduates lasts for 2 to 3-years, on the job in an Analyst position, after which you have to compete to become an IB-Associate. Many of those who do the course at Imarticus Learning have benefitted from their soft-skills training by being placed as Associates directly under their assured placement programs and a basic MBA qualification. The higher you go certifications and continued learning become crucial for better progression and higher bonuses and payouts.
Investment Banking Career-Scope and Payouts:
Now have a look at this table, where Payscale reports an average salary of 508, 855 Rs for a fresh starter. Salary components can vary between 177,560 to 1,545, 630 Rs and have added bonuses from 2,517 to 524, 023Rs depending on your skills and performance. Thus the total pay can be much higher and very lucrative in comparison to other jobs. However, doing a course is essential and the Investment banking certification provides the measure of your skill and knowledge and has come to also be a prerequisite for interviewers.
How to Crack The Investment Banking Interviews
Just remember at interviews to dress neat and professional, prepare well and reinforce your learning till perfect. Some questions that you will be asked are
• What does IB mean to you?
• Talk me through your CV.
• What does the IB role/ present market condition mean to you?
• What do you think this company can achieve?
• Why do you want to become an IB?
• What are your achievements/ weaknesses/ strengths?
• How do you handle leadership/stress/ failure/ accomplishments?
• Why should you be hired?
• Explain what this means to you. Financial models/ valuation methods like DCF/ Weighted capital costs/ deferred tax assets and such topics
• How can you play the field using earnings?
With data analytics and a highly dynamic and evolving technological scenario present in India and globally, European companies like Lehman Brothers, Merrill Lynch, Credit Suisse and very many large financial banks, groups and even NBFCs operate in India. This ensures the aspirants find lucrative jobs and make their careers in IB.
If you feel you are a good fit, you’re next step should be to do the investment banking course at Imarticus Learning a reputed institute where you can get proficient at learning the IB job role well, hone your personality and soft-skills for the job and be better prepared to crack the interview and set off on the IB career path. Best of luck!