ATK
New Delhi [India], June 3: Investment banking is one of the most popular choices for university graduates who want to make it big in the world of finance. Although the world of investment banking can be famously gruelling, it does offer the benefit of extremely high salaries, bonuses, and compensation and therefore status and prestige, as you move up the career ladder.
Through this guide, you get a glimpse into career opportunities available to graduates of investment banking courses. Keep reading!
What Does an Investment Banker Do?
An investment banker assists and advises companies on the kind of securities to issue such as stocks and bonds, the price to issue them, and also how, and when to issue them. Apart from the above-mentioned responsibility, investment bankers also handle the process of underwriting, which is the placement of securities with investors. Moreover, they underwrite municipal bonds and other types of debt securities and work with both private and publicly traded companies.
Career Trajectory in Investment Banking
There are some excellent banking certification courses available if you want to build a career in investment banking. Typically, students enrolled in investment banking courses begin in the industry by participating in internships with investment banks. Internship is not mandatory to enter this field; it is certainly an excellent way to get started.
The career trajectory of investment bankers is often defined once they complete their banking certification courses. Here is a typical progression from junior to senior:
* Analyst (grunt)
* Associate (glorified grunt)
* VP (account manager)
* Director (senior account manager, rainmaker in training)
* Managing Director (rainmaker)
Let us now take a look at each of these job positions in detail.
Analyst
This position is open to fresh graduates of investment banking courses and is also known as the first step for an investment banking career. Analysts often have less than two years of experience and their main job entails data collection, making presentations, and simple financial data analysis. The majority of financial concepts are developed at this period and therefore having this experience is crucial for anyone who wants to be a successful investment banker. It takes around two to three years to go up to the next level.
Associate
After gaining two to three years of experience an analyst is promoted to the level of associate. However, candidates having an MBA in finance are directly hired in this position and they also have more experience as compared to analysts. The job comes with additional duties like managing a group of 4-5 analysts and interacting with customers. Approximately, it may take three to four years to get promoted to the next position.
Vice President
Achieving the position of vice president means that you have experience in the field of investment banking. A vice president is typically an investment banking expert with extensive project expertise. To be eligible for this high-ranking position you need to have six or seven years of experience. Analysts and associates report to vice presidents and a VP is in charge of maintaining client relationships and ensuring operational efficiency at all levels of the organisation. Vice presidents usually interact with directors and managing directors. The promotion to the next level is based on the performance level of the vice president, which could take around three to four years.
The Managing Director or Director
This is the highest level ranking in the investment banking career path and requires a minimum of 15 years of expertise. MD is typically in charge of increasing business and converting potential clients into actual clients. The job entails building relationships with clients and gaining more customers. Managing directors are the face of an institute they are mostly into building relationships with clients and gaining more customers. They are the persons who instruct the work below the line.
The above-mentioned positions signify important milestones for an individual building a career in investment banking. Apart from the above-mentioned roles, graduates of investment banking courses can take up other roles like Banking associate, Account manager, investment consultant, portfolio manager, and investor relations manager.
Conclusion
A career in investment banking can be truly rewarding if the field of finance holds your interest. Degrees in finance, accounting, business administration, and other business disciplines are common in the investment banking career path. However, choosing the right career depends on several factors including your interests and passions as well as your skill set. Before you embark on this career path, consider your personal goals as the job of an investment banker can entail demanding hours but also significant financial rewards.
If you want to make your career in investment banking, then you should enrol in the Certified Investment Banking Operations Professional (CIBOP) by Imarticus Learning. This flagship industry-approved program is best for learners with under three years of experience and comes with 100% Job Assurance.
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