A Detailed Guide to Investment Banking Jobs For Graduates
Investment Banks and the investment banker’s world is different from the rest. They enjoy skyscraper life, full of noise, clocks tick-toking, plenty of phone calls, and being garrulous to smash the deals. The present and upcoming generations are working more and more to get into these jobs. Investment bankers’ jobs the trendsetting jobs. In this article, I will be discussing investment banking jobs for graduates and investment bankers, the qualifications required to be an investment banker, the job titles of investment bankers, and courses and tips to get your first job. So, let us get started.
Let me share with you a conversation I overheard between two friends while I was traveling.
Pratap: The board is nearing, what about your next plan?
Anil: Bachelors? I will get a degree in finance.
Pratap: Finance? Set for banks?
Anil: Yes! Investment Banks.
Pratap: Great! But getting jobs in the sector is quite a challenge.
Anil: I know, hoping for the best.
This made me think about the huge career prospects of investment banking in today’s era. It also inspired me to take up this article on investment banking jobs for graduates. Though the field is a little backbreaking to get through, hard work and the mentioned aspects will help you enter the movers and shakers market.
Investment Banking – Introduction
Investment banking is the banking system where investment is made by the investors for the investees. The whole investment banking system revolves around a single idea of fundraising or capital raising. The big investors invest in projects with the government and other organizations.
The investment banks raise the capital through mergers and acquisitions, underwriters, sales and trading, equity capital and debt capital, IPO, and other financial instruments.
Investment Banks Are Classified Into Three Types Based on Their Size, Capital Raised, Functions Provided, and Clients Handled. They Are:
- Boutique Bank – Regional boutique banks and Elite Boutique Banks
- Middle Market
- Bulge Bracket
Boutique banks are the smallest banks. They handle a lesser number of clients and they offer only one type of service. Their presence is only region-specific. Some of the boutique banks are o3 Capital, Avendus Capital, Spark Capital, Ambit Corporate Finance, and Signal Hill.
Middle Market Banks have a presence in the country. They are a little larger than the boutique banks. They offer a greater number of services but not all the services that the investment banks offer. They handle a greater number of clients. Some of the middle market investment banks are William Blair & co., and Houlihan Lokey.
Bulge Bracket banks are international banks. They are the biggest among all the three categories. They provide all the services and offer services to many customers. Some of them are Axis Bank, SBI, ICICI Bank, HDFC Bank, Credit Suisse, UBS, JP Morgan, Barclays, Goldman Sachs and Morgan Stanley.
This was a brief introduction to Investment Banking. Now let us look at the job role of an investment banker.
Investment Banker – Job Role
Before getting into investment banking jobs for graduates, these roles will help to get an idea about what you need to do.
Investment bankers are always evangelical.
Their primary job role is to succeed in raising capital from the investors for the borrowing organization through selling securities and other financial instruments. They are the persons who negotiate and make deals that are profitable for banks and clients.
The next role that they perform is to advise their clients. They help their clients understand what service they should choose and for what reason.
The i-bankers also do research work. They get involved in extreme research work about their clients, their projects for which they should find an investor, the market position, and what type of service will be beneficial for the client.
The investment bankers also play the role of underwriters. They evaluate the risk involved and accordingly guide their clients that protect their interests.
In the case of IPOs, they decide the share price and also assist the customers regarding every detail of the IPO.
These are some of the vital functions of investment bankers and their basic job roles. The i-bankers should be qualified or well-versed in these roles for better career growth.
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Educational Attainments to be an Investment Banker- Investment Banking Jobs for Graduates
To get an investment banking jobs for graduates, academic qualification is very important. Investment bankers should have profound knowledge in the matters of finance, mathematics, economy, and marketing. Investment bankers should have a grip on these subject areas to thrive in this sector.
The Basic Qualifications Required to Be an Investment Banker Are:
- Bachelor’s degree in finance, mathematics, economy, banking
- Master’s degree in finance, mathematics, economy, relevant field
- BSc or MSc in finance and banking
- PhD can also be done if someone wants to do research in investment banking
- The CFA (Chartered Financial Analyst) certification course grabs the attention of job
- Investment Banking certification course
These are the basic educational qualifications that are required for investment bankers. But what if someone wants to switch their career option to investment banking? It is possible.
Many institutions are providing investment banking courses. These courses can help you to be an investment banker. Some of them provide placement assistance too. Later on in this article, I have mentioned some of the institutes that provide investment banking certification courses.
Skills to be an Investment Banker
Besides these academic qualifications, the following skills are advantageous for investment banking jobs for graduates.
- Communication skills
- Negotiable skills
- Time management skills
- Dedication and commitment towards work
- Stress Management
- Teamwork and leadership skills
- Analytical skills and problem-solving skills
These are some of the skills that provide an edge to get a job, especially at the graduate level.
Career Roadmap of Investment Bankers-
This article is primarily about investment banking jobs for graduates, so let’s delve into the career roadmap of investment bankers. The start of an investment banking career is time taking. It takes around 5 to 6 years to finish up your studies and certification courses in the subject. After this, you can start on with your career. So, an aspirer in an investment banking job who wants to get into investment banking jobs for graduates should check out this career flow as their future reference.
This is the first step for an investment banking career. The role of the analyst is granted to the people who have completed their bachelor’s degree. In this profile, you will have to get the data of the organizations, collect information on investors and investees analyze data, and represent it. It takes around two to three years to go up to the next level.
Associate role is the next promotion stop. Candidates with having MBA in finance are directly hired in this position. The associates have more experience compared to the analysts. They have fewer client interactions. They also assign work to the analyst. Approximately, it may take three to four years to get promoted to the next position.
Getting the role of vice president indicates that you are experienced in this field. After getting six to seven years of experience, you are eligible for this higher-ranking position. Vice presidents usually interact with directors and managing directors. Analysts and associates report to vice presidents. Based on your performance level, you can be promoted to the next level, which could take around three to four years.
The next prestigious position that you wait for, when you are entering the field is the role of director. This role involves a lot of client interaction. It also includes getting more customers. A period of two to three years can raise your level.
They are mostly into building relationships with clients and gaining more customers. They are the persons who instruct the work below the line. This is the highest-level ranking in the investment banking career path.
These are important milestones for the role of an investment banking career. Besides these roles, there are other roles like Banking associate, Account manager, investment consultant, portfolio manager, and investor relations manager.
Institutes For Investment Banking Certification- Investment Banking Jobs for graduates
Certain institutions offer investment banking certification courses. These courses are add-on courses after your academic qualification. Aspirants of investment banking jobs for graduates can take up these courses and join the industry. People who want to switch their careers can also go for these certification courses.
1. IIM SKILLS
This Edu-tech deals with professional courses. They are world leaders in professional courses. They offer investment banking courses for 3 months. The course is online. They also provide a one-month guaranteed internship. They have 100% placement support and will also help you in building your resume. Their teaching pedagogy is remarkable with 24*7 support. The study materials are accessible for a lifetime. The top hiring companies are Goldman Sachs, JP Morgan, Accenture, TCS and others. A certificate will be given at the end of the course.
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2. Imarticus Learning
This institution also offers investment banking courses. They conduct classroom and online classes. The institute provides 100% placement support. The hiring companies are Capgemini, BNP Paribas, Goldman Sachs, Bank of America, and others. The course is for 150 hours. You will get a certificate after the course is completed.
Course Fee: INR 1,40,000 including tax
3. The WallStreet School
The Wall Street School in India was established in 2009. They provide the Financial Modeling and Valuation Course. They have 180 hours of course training. They provide practical training. The institute also assists with placements. They claim to pay 40% at the time of enrolment and the rest 60% of the fees after placement. A certificate will be awarded upon the accomplishment of the course. They offer two types of programs.
- 6 weeks full-time program
Course Fee: INR 45000 + GST
Placement Fee: INR 75000
- 5 months weekend program
Course Fee: INR 50,000 (Including Tax)
Placement Fee: INR 75000
In Coursera, there are plenty of investment banking courses from esteemed universities and organizations. You can choose from among them and complete your course. The advantage of Coursera is that it is self-paced. You can take the course at your own favorable time.
These are a few institutions that will help you to develop a career in investment banking. Candidates looking for investment banking jobs for graduates can enroll with these institutions for better career and job opportunities.
Now let us discuss the tips or tactics that will help you to get your dream job. These aspects will help a candidate to land better investment banking jobs for graduates and will also strengthen their knowledge in investment banking.
Aspects to Win a Career in Investment Banking
In this part of the article on investment baning jobs for graduates, I have jotted down some of the important aspects that will help you to get a job in investment banking. There is no doubt that the market is too competitive, but nothing is impossible with hard work and smart work.
From my life experience, I have learned one crucial point, when you give an interview, that is, when you are answering the questions to the interviewer, you should be able to visualise what answer the interviewer is expecting. The answer is simple, the best knowledge of the subject and your smart attitude. Keeping these aspects in mind, let us see what are the other contexts that will help to get through an investment banking graduate job.
The first area to mull over is to be confident in yourself. We should be pellucid in our minds about our goals. This aspect holds very important significance who want to pursue a career in investment banking. Investment banking is a subject that requires confidence in yourself. When you are pitching the investor or when you are selling your products and giving suggestions to your clients or approaching them for undertaking mergers and acquisitions, you need to be confident in what you are saying. At that time if you fumble, then it will give a bad impression. This is the reason why at the time of the interview, the interviewers check your confidence level, and you will need to portray your confidence.
Get the Academic Qualifications and Certifications
Yes! Investment banking gives importance to academic qualifications. That does not mean an engineer cannot be an investment banker. With hard work everything is possible. Completion of a bachelor’s degree and master’s degree is important to get an investment banking graduate job. Graduating with finance, mathematics, management, banking and economy always suits this field.
An MBA is also a very good option for a career in investment banking. Pursuing an MBA will help you to get the role of associate. It also helps you in getting more knowledge in the field of finance. It is always better to get as much knowledge as possible.
You can attain a CFA certification from a CFA institute. This gives an extra margin to the candidates aspiring for investment banking graduate jobs.
Get Certifications From Training Institutes
Even if you have taken finance as your major subject during your graduation or if you have not, you can go for certification courses from training institutes. I have mentioned above the name of five institutes that provides certification in investment banking.
These training institutes provide practical knowledge and theoretical knowledge that are essential for investment banking graduate jobs. They also provide placement assistance. Candidates who are eagerly trying to get a job can be benefitted by taking up this course.
Internship plays the role of cupid between the job aspirers and jobs. The investment banking industry largely focuses on experience.
Internships give practical exposure. This exposure is much required when you will be working with the organizations. The banking organization looks out for someone who knows what an investment banker is like. After reading this article till now, it is crystal clear that the job of an investment banker is strenuous. During the internship, the candidates feel the pressure and then can come to know, if they are good to go.
Many times, an internship helps us to bag jobs. If the company is satisfied with your work and dedication towards your work, they can offer you to be a permanent employee for them. This will indeed give a cause for celebration. It is always good to do an internship, and an internship from a reputed organization is always a good help.
Resume and Mock Interviews
The old school of studies say that practice is the only way that make a man perfect. Before facing the real interviews, you can go through mock interview sessions. Some institutes help you to prepare for interviews. IIM Skills has sessions for mock interviews.
The next is resume. This builds your first impression. The resume is a briefing about oneself. It shows your experience at work, your educational qualifications, internships and your certificates. It is good to build a professional and short resume. It should be eye-catching. There are many templates obtainable to build your resume. You can use software like Canava, to build a strong resume. You can also use banking jargon that will enhance your resume. Candidates seeking investment banking graduate jobs should have an influencing resume.
Networking is important in today’s life. You can connect with other investment bankers through LinkedIn. You can get knowledge from them, like what is happening in the market, job aspects and other similar aspects.
Networking also helps you to find a job. You can get references from your followers too. Many people explore for jobs on LinkedIn.
Develop the Skills
Previously, in this article, I have mentioned some of the key skills required for investment bankers. You should master those skills.
Along with those skills you should also be thorough with technical skills like analytics, MS Excel, and MS PowerPoint. These skills increase your effectiveness and efficiency.
These are the seven points that will help the candidates trying to get investment banking graduate jobs. If you keep these aspects in your mind and put in your efforts you will surely be rewarded.
Investment banking is always a trending topic among finance enthusiasts. People all over the world, especially, in London, New York, and Zurich, are always eager to get an opportunity to work in investment banking. Working in investment banking has always been prestigious.
As for India, it is still emerging. Now that India’s economy is rising, many companies are showing their sparks in India, and thus the sector is thriving. People of India are also evolving towards investment banking. Due to this reason, investment banking graduate jobs are becoming more competitive. With the number of banks coming, the opportunity has also surged up. It is good to see that people have a new direction to enter.
Hope this article has helped to provide you with a detailed understanding of investment banking jobs for graduates and you got a deep insight into your investment banking career. The stage is yours to roll on!!
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Frequently Asked Questions (FAQ)- Investment Banking jobs for graduates
1. What are the pros and cons of an investment banking career?
Every action under the sky has advantages and disadvantages.
The pros of investment banking are high salaries, career growth within a very short time, stable income and the opportunity to meet up with various eminent people. The cons are a very hectic job and less work-life balance.
2. What are the selection criteria for an investment banker?
They are selected by academic qualifications and knowledge, willingness to work, analytical skills and communication skills. These criteria play a huge role in getting selected.
3. What is the salary for Analysts?
As per Ambition Box, the average salary for the investment banker analyst is around INR 14.7 LPA.
4. What is the working hour for investment bankers?
In investment banking, working hours are challenging. In countries like New York and London the work hours can extend to 80-100 hours a week, whereas in Switzerland, it can be 70-80 hours a week.
On average investment bankers work 60-70 hours a week. This is indubitable that the job is nerve-racking. But this is for the starting level. As you climb up the stairs the working hours reduce.