The pathway to a career in investment banking most commonly begins with a position as an investment bank analyst. The working job is extreme and requires that you be able to multi-task, pay exquisite attention to details, think on your feet, and bet farewell to a normal work-life balance. The rewards, however, are well worth the sacrifice to the people who dream of the investment bank profession and lifestyle.
You’d be hard pressed to find a better-paying entry-level job after university. Landing and being successful as an analyst in an investment bank position is your key to bigger and better opportunities throughout your finance career. So how does it be manufactured by someone happens? The detailed steps below cover the most common moves individuals take to secure a posture as an investment banking analyst at a high bank. While we’ve organized the steps sequentially, this isn’t necessarily a linear process. For example, networking is a skill you’ll need to begin developing as an undergraduate pupil and continue honing throughout your career.
But each one of these steps can be critical for you achieving your ultimate goal of employment as an investment bank analyst. The first step toward becoming an analyst in investment banking is completing your undergraduate degree. Common majors for future analysts include accounting, financing, and mathematics. But it’s not extremely unusual to see experts come from other majors and still achieve success in investment banking.
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Considering the CFA charter? Download this free Prior to deciding to Sit for the CFA Program Exam eBook. All of your opportunities should come because someone was aware of you likely, your skills, as well as your experience. Two great ways to make you and your skills more visible are through networking and internships. As previously mentioned, networking is not only a skill for securing your first job.
Networking is a crucial career-long skill that will most likely open doors you will possibly not have known even existed. Early on, it could be intimidating and uncomfortable possibly. Still, you have to continue to pursue networking opportunities in order to grasp it, because you’ll need it during your profession absolutely. Internships have several advantages. And foremost First, internships provide you with real-world working experience.
Immersion is truly the best way to learn and become acclimated to the life span of the investment bank analyst. Secondly, you will build practical experience and skills that make you more appealing as a worker as it pertains time to use for careers. It’s also valuable to think about your internship such as a long-form appointment.
Investment banking interns often earn the opportunity to be considered for a position as an analyst after graduation, based on the great work they do throughout their internship. Finally, internships provide a valuable environment to make a connection and build your network. It could lead to future opportunities in the firm where you’re interning; or it could lead elsewhere, as the individuals you work with in your internship move on to other banks.
In order to operate as an investment banking analyst, you will need to register on your behalf of your bank or investment company with the Financial Industry Regulatory Authority (commonly called FINRA). Furthermore, depending on the type of work you will be doing, you need to prepare for and move any relevant securities (series) licensing exams to qualify for registration. While not required, it’s quite common for prospective investment banking analysts to begin the Chartered Financial Analyst (CFA) Program while they remain in school, or after they graduate soon.