What Does An Investment Banker do?
Before learning how to get into investment banking, let see what an investment banker does.
When corporations and municipalities want to raise capital to fund their operation, they go to an investment bank for assistance. An investment banker works with these entities to underwrite, or find buyers for, securities like bonds or stock to raise the capital the organization needs.
In addition to underwriting securities, investment bankers can usher corporations through complex processes like initial public offerings or mergers and acquisitions. To do this successfully, they must be well-versed in the behavior of financial markets and in the legal requirements that investment banks and their clients must meet for each process.
There is no investment banking major, and advice on how to become one is scarce. But by looking at the skills necessary to successfully practice as an investment banker, you can narrow down the degrees that will best serve you in your future career goals.
Networking with Investment Bankers
Although this website is named investment banking resumes, but resume writing is only Step One of how to get into investment banking. There is a Step Zero, which is Networking.
Investment banking is a people business. If you do not enjoy dealing with people, or if you do not enjoy networking, then it may not worth your time finding out how to get into investment banking. In short, there may be some other career options that will suit you better.
Knowing the process of how investment banks recruit, you’ll know how and why ‘networking’ comes before writing a resume.
Large investment banks recruit prospective analysts and associates from top business schools, and often fill these positions with interns who have worked with them as summer analysts or associates. Therefore, you must concentrate heavily on networking while still in school.
Networking through Alumni Network
People tend to give more attention to those younger ones who came from their same school. Hence, your school’s alumni is always the best to start with. If you are currently in college, you may be able to find someone in your school’s alumni network who can talk to you about becoming an investment banker. Learning more through this process can also be a good way to build your professional network.
As your network grows, you will increase your chances of meeting someone who can offer you an opportunity to interview for a position. If you do not attend a highly-rated business school, you will need to work hard to build a network on your own by reaching out to family members, friends, acquaintances, professional associations.
How to Get into Investment Banking by Utilizing IB Career Sites
You can learn more about the requirements and training process to become an investment banker by visiting the websites of large investment banks like Goldman-Sachs and J.P. Morgan. These companies detail the various programs they offer for undergraduate students, graduate students, recent graduates, and experienced professionals.
Pay attention to their recruiting calendars and set a goal to acquire an intern role. Some banks may pay interns only some basic allowances, but not real salaries. But this is a critical milestone for anyone who wants to develop an investment banking career. If you were offered an opportunity, do take it, without any hesitation.
List of Largest Investment Banks.