How to Be an Investment Banker
Finance has a huge part to play in everyday business, and it's part in investment banking is no different. Investment bankers help companies invest their capitol to raise money for projects they wish to start. They are very skilled and qualified individuals that are trusted to make the big money decisions for companies. Because of this they are generally paid fairly well, but the job also comes with the pressure to succeed and it's a very competitive field to get into as the rewards can be great.
This article will go through step-by-step on how to be an investment banker.
Your Bachelor's Degree
The first step to be an investment banker is going to be earning your bachelor's degree. You will need at least this level of education to be an investment banker, but it will be much more rewarding with even higher education and most likely easier to find a job in investment banking. Popular majors for investment bankers are finance, accounting, and mathematics, but fields such as computer science could work as well. Your bachelor's degree will take around 4 years to complete.
- A strong GPA is key if you want to land a good job. Companies will search for the best candidates they can and they look for high GPAs. A good GPA for your average company will be 3.5 and up, but expect to be rejected from a Wall Street company if you don't have at least a 3.8 GPA.
- Be involved in your college. Join clubs and organizations that will develop your skills in financial analysis and banking.
The next step to be an investment banker is to land an internship at a well known company. There are a few reasons for this, but the main being that you will want to gain experience in the investment banking field before you look for a job. Internships provide a learning opportunity and environment for college students to gain valuable work experience. Many internships are paid as well, so you will be learning and earning at the same time.
- Internships can also serve to get your foot in the door of a company. If there is a certain company you wish to work for then interning for them is one of the best ways to start you career there. It is normally easier to land an intern position than a real position and they will get to see your work ethic, so work hard!
- A lot of companies look for around a year of work experience before they will hire you.
There are a few more things that you can do to help you become an investment banker, but they are not required. These would be higher education and certification.
- Earn a Master's degree: If you want to take your education a step further (and you should) go back to school to earn your mba. A master's degree in this field will be very valuable to you not just in the job hunt but in rising through a company and earning more money. A typical master's major would be one to do with finance and investments.
- Chartered Financial Analyst (CFA): Another thing you can do to help your career is become certified as a Chartered Financial Analyst by taking the CFA exam. To take the exam you will need to have 4 years of work experience under your belt and pass the three levels of examinations. The certification will take 2 to 5 years to complete.
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