How To Become an Investment Banker

Investment bankers help their clients, whether they are individuals, businesses, or governments.Investment bankers buy and sell securities on behalf of their clients.You need a college degree in a related discipline to become an investment banker.Professional certifications, as well as government licenses, are required to buy and sell investment products for your clients.

Step 1: The major you choose should be related to banking.

A number of related majors will prepare you for an investment banking career, such as finance, economics, business, or accounting.Make sure you take classes in macroeconomics and microeconomics, as well as classes that cover personal and business finance concepts, business and tax law, international business practice and strategies.Start with introductory courses and then take advanced courses that interest you the most.

Step 2: You should look for an internship.

Most students are introduced to the world of investment banking through a summer internship.Investment banks in London and New York City have large classes of interns and established internship programs.It is difficult to get into the large investment bank internship programs.Smaller investment banks exist in many cities.If you can’t find an investment bank with an internship program that works for you, try to get a summer internship at a regular bank.It’s not as beneficial as an internship at an investment bank, but it can still give you a leg up.

Step 3: There are entry-level positions in the financial services industry.

It’s a good idea to work in an entry level position for a year or two after graduating from college to get some professional experience in the field.Investment bankers are usually financial analysts.You study the market and produce reports that business executives use to make sound financial decisions.

Step 4: Get an masters degree.

Most investment bankers have an masters degree.If you go to a top business school with a good reputation, this can be a relatively large investment.Don’t just go to the first business school that accepts you.The cost of tuition is a huge factor, but it shouldn’t be the only factor.If you plan on working while you get your master’s degree, many business schools offer part-time or evening programs.

Step 5: The business school of your university has a career center.

Many banks schedule internship and new associate interviews with universities.You can learn more at the career services office.The business school is more connected to investment banks than the general career services office is for undergrads.Smaller investment banks don’t visit schools or recruit large classes of interns.If you want to work for a smaller bank, you have to find them on your own.

Step 6: You can network with experienced professionals.

The skills and information you’re learning in school are just as important as your connections to investment bankers.You can get your name out there by talking to investment bankers online and in person.If your school has an investment banking club, join it.Good networking opportunities can be found at a lot of the events they have.If you want to network with investment bankers, you need to clean up your social media accounts so that you can use them.Interviews with investment bankers.If they’re local to you, invite them to lunch and tell them you want to pick their brain.Professionals give advice to people just starting out.

Step 7: Go back to school.

You will be more attractive to investment banks if you get some direct education to prepare you for the financial services industry, unless you already have a business- or finance-related degree.It’s hard to get into the investment banking profession if you don’t have a degree.You may still have a chance if you have several years in another profession and an undergrad degree.You could consider a part-time or night program.Most investment banks only recruit from business schools that offer these programs for mid-career professionals.

Step 8: There are references to look for.

Professional and personal references can vouch for your skill and work ethic if you started a career in another field.Investment banks want to know if you were a leader in your field.Investment banking requires certain skills and qualities, so try to find someone who understands them.You want references who know what to say.

Step 9: You should get a professional certification.

Professional certifications require you to study and pass lengthy exams, but they can help set you apart from the competition and can be cheaper than an MBA.You can become aCFA after three phases of tests and four years of experience in the field.You can prepare for the exams on your own time.

Step 10: Be aggressive with investment bankers.

The world of investment banking is more about who you know.If you want to enter investment banking from a different career path, this is true.Investment bankers can join professional associations.If you want to meet investment bankers casually, hang out at cafés or restaurants near the banks.Follow up with investment bankers when you meet them.If they come up with something that interests you, you want to keep an eye on it.

Step 11: Offer to do an internship.

Internships are offered through universities, but investment banks train new employees through them.If you’re far removed from your school days but don’t have a lot of money, an internship might work for you.Investment banks tend to have rigid and traditional recruiting processes.For this idea to have a chance, you will have to find a smaller boutique firm.Let everyone in your network know that you’re looking for an internship.They might be able to help you out.

Step 12: You should apply for training programs.

Larger investment banks have established training programs for recent graduates that provide them with additional education as well as some hands-on experience working in the investment bank.If you get rejected, don’t get discouraged.To increase your odds, apply as many as possible.To find out what an investment bank is looking for in a new associate, look at the characteristics of the last associate class.

Step 13: Take part in your training.

The training programs for investment bankers are very demanding.When you’re in training, expect to work between 12 and 15 hours a day.To get a license to buy and sell commodities for your clients, you’ll need to pass exams.The information you need to pass the exams is provided by the training programs.

Step 14: You have to dress the part.

Investment banking is still a formal and traditional business.A dark color is a good choice for a tailored business suit.Your appearance needs to be professional.You should wear accessories that are not flashy.It’s a good idea to avoid anything flashy.

Step 15: Get the licenses you need.

Depending on what you’re doing as an investment banker and the laws of your country, you probably will need to get licenses or register with regulators before you can conduct certain activities, such as buying and selling stock for your clients.If you were fortunate enough to get into a training program with a larger investment bank, they will give you the information and resources you need to pass licensing exams.If you don’t, you’ll have to study on your own.You may be able to find study resources on the internet.Look on the website of the department or agency administering the exam to conduct a general internet search.

Step 16: You have to keep up with continuing education requirements.

If you want to keep your license or certification in good standing, you need to complete a certain number of hours of continuing education each year.Make sure your contact information with the agency that issued your license is up to date.Notices will be sent to you when your license is up for renewal.If you want to spread your continuing education out, try to do it over the course of the year.It will benefit your clients if you take classes that interest you.