If you dream about working in New York City and being at the center of the financial industry, then being an investment banking analyst is the perfect career choice for you. Investment banking analysts make important financial choices that have a direct impact on the economy in the world. They also manage money for high-profile people and companies. An investment analyst can be critical to the financial health of any major entity. If you like the thought of investing in stocks at just the right time, then you should think about pursuing this career path. Maybe you have wondered, How do I become an investment banking analyst? If you have thought about this career, then you should be prepared to face tough competition. This career choice is the dream of thousands of college grads with business backgrounds.

Whats it like to be an investment banking analyst?

When you become an investment banking analyst, you can expect to work at all hours of the day. You may need to pull an all-nighter in doing research on specific stocks within the gas sector. You may need to find just one investment that will balance the portfolio of one of your clients. You will likely have multiple meetings scheduled with clients for the week. Meeting with clients and explaining the consequences of certain investments will be typical for you. If you become an investment banking analyst, you should also be prepared to work with the legal team of your finance firm. Ever since the sub-prime mortgage crisis, the government has put forth very strict compliance requirements for financial firms. Investment banking analysts now need to offer certain information to their clients and the public. An analyst may not understand whether he or she has to offer information about a stock that has tanked to one of his or her clients. In this instance, the analyst would take the time to meet with a lawyer to discuss the issue.

Education Requirements

It is essential to have an understanding of business and finance if you want to become an investment banking analyst. That being said, plenty of people end up in this career field without a specific degree in finance or business. The major way that people make their way into this career field is through connections. You may see that people with an English or Art History background are serving as financial analysts for major firms like Goldman Sachs. You should have a knack for being able to pick out wise investments in the stock market. You should be able to predict the success of certain investments for a portfolio. If you have a gift for increasing the profitability of a portfolio, then you will make a very good investment banking analyst.

Salary & How to Get a Job

The typical financial analyst makes about $75,000 a year. However, this figure can change if a person works for a major finance firm that offers bonuses and other perks. One may actually earn a percentage of the portfolios that he or she manages. If a person earns five percent of a $10 million portfolio, then his or her salary for the year would be about $500,000.

To break into this market, you will probably need to apply for positions in New York City. This is the major financial hub of the world. You should also understand the intricacies of business etiquette and have societal graces. This type of position requires the ability to network with high-powered people and to make a great first impression. You will be highly successful in this field if you have a passion for math and possess great communication skills.

References:

Related Careers: