What Technological Skills Are Needed For an Investment Banker?January 24, 2019
An investment banker dons many hats every day. He needs to be well-equipped in the following technical skills and programming languages if he wants to remain successful. Like the rest of us, continued learning is just as crucial to the investment banker. Let us discuss these top technological skills for an investment banker.
Listed below are the top programming languages for technical skills for investment banking in use on Wall Street along with their advantages and disadvantages in no particular order.
Oracle’s Java favors bank programming technology because of its security and capacity for loaded programs handling large volumes of data.
It is very popular in banking because of its:
• Powerful Security Manager.
• Running runtime constraints
• Support and portability to many OS
The Java disadvantages are
• Lower speed.
• Lower productivity
• Technology that consumes memory
C has impacted languages like Objective-C, C , C#, Java etc. The applications include databases, bank management platforms, advanced scientific programs, software for billing, and embedded systems among many more. C is widely used to program cash register terminals, point of sale (POS) devices, and POS console systems.
• Mid-level language
• High speed
• Highly portable
Some limitations are
• The absence of reusable code.
• Non-flexible in fixing bugs
This programming language is simple and its syntax minimalistic. Its applications lie in machine learning, data analysis, the FinTech sphere, software industries, building cryptocurrency markets, insurance, banking, and many more.
The popular features of Python are:
• Scalability, consistency, simplicity.
• Precise and fewer code lines.
• Pythonic-standards applicability help to read, modify and maintain code with ease.
• Powerful Django framework
Despite benefits being many, the drawbacks are
• No support for the web browser.
• Design restrictions. Asynchronous capabilities limited by lock and single thread.
Microsoft’s C# has a syntax similar to Can the best of Java and C. It is used for 3D-Unity games, building .NET programs, mobile apps, and websites.
Developers favor C# for its:
• Interoperability in Cross-languages.
• C Enhancements.
• Volumes of libraries.
• Type safety
• Uninitialized variables are not permitted, making C# coding safe.
Its limitations are
• Low speed
• .NET dependency
Ruby has the necessary characteristics and capabilities for rapid app development. Ruby combines features of Perl, Eifel, Ada, and Lisp besides others. It’s applications find use in financial technology, e-wallets, digital payments, analytics, and Big Data, and financial dashboards, and asset management systems.
Startups and developers favor Ruby because it affords them
• Time savings, efficiency, readily available plugins, third-party owned libraries and codeless apps for project development.
• Ruby-on-Rails framework provides a bug-free secure code to build scalable apps.
• Efficiency and cost saving
The disadvantages are
Tool Documentation is hard to find.
Boot speed decrease due to the many libraries.
C programs are used in investment banking where speed in execution is crucial. It is popular for programs requiring advanced levels of computation where numerous operations are processed quickly, in quantitative analytics, and in quantitative finance.
C is advantageous for its:
• Code reusability
• Speed and Efficiency.
• Rich resource libraries.
The drawbacks are:
• Code writing and insecurity.
In conclusion, do investment banking courses to gain these technical skills. Each of these has its drawbacks and super advantages. The investment banker’s role is very trying and proficiency in these technical skills can alleviate some of the pressures. Check out these courses as a package or individual courses to attain practical skills so vital to your job role in investment banking.