As lucrative an investment banker's job is, it is also that stressful and tiring. However, a lot of people are willing to endure this stress for the kind of returns that this job offers. There is no doubt that investment bankers are among the highly paid professionals out there. So what does an investment banker do? An investment banker is someone who works for a financial institution, i.e. a bank, to help businesses raise finances for their projects by underwriting issues and raising money from the equity and debt market for these businesses.
An investment banker also provides brokerage services, asset management services, and business analysis services. This is just an overview of an investment banker's job, but there is a lot more an investment banker is expected to do. To make a career in this competitive field, you ought to have fulfilled some very necessary education requirements.
Educational Requirements to Become an Investment Banker
A job that pays extremely well also requires you to be very well-educated to fulfill it. Given here is a step-by-step course of education you are supposed to follow to become an investment banker.
Step 1: Attain a Bachelor's Degree
A bachelor's degree in finance or business management is imperative to work as an investment banker. There are students who have pursued other degrees and have still been able to start off in investment banking based on the training provided by the firm they work for. Even so, if you have decided beforehand that you want to get into this field, get the appropriate education to take you forward. Further, to get into this competitive field, it would benefit you if you attain business or finance education from a top tier university.
Step 2: Gain Work Experience
After you have completed your business education, it is a good idea to join a firm as a junior analyst and start gaining work experience. While you will be given basic jobs initially, the complexity of these jobs will increase as your time in the firm increases. This work experience is essential when you go to pursue your master's, another important degree that is necessary for a better job. At least two years of work experience is required before you pursue your master's degree.
Step 3: Attain a Master's Degree
A Master's degree in Business Administration (MBA) is a must if you want to get into a well-established firm as an investment banker. Again, if possible, try your luck at getting into a well-renowned university for business education, and there is no way you will be left out in the hiring process. When you pursue this degree after gaining some work experience, you can immediately join a firm as a senior analyst and only go ahead from there. However, keep in mind that employers are looking for individuals with excellent grades, and not just the university they have qualified from.
Along with education, you have to showcase the aptitude to develop yourself as an investment banker. Personal interest, skill in communication and business, and the ability to learn and absorb new and changing trends are all qualities that are sought in investment bankers. Remember that while a formal education is important, there is a lot you don't learn in school. Instead, all these are learned on the job through experience.
As mentioned earlier, even those who do not come from a background in finance can make it in this field through sheer skill, aptitude, interest, and hard work. However, it takes a lot to be able to get that highly coveted job when those qualified for the field are vying for it too. So if you think you are someone who can take up the responsibilities that the job of an investment banker comes with, don't hold yourself back. Go ahead and get the necessary education to pursue this field, and carve your career path immediately. Good luck!