Investment banking is the most prestigious and, simultaneously, the most difficult position. If you are truly willing to work long hours, it is an exciting career path to move forward. There are basic tips on how to become an investment banker.
What does an investment banker do?
Investment banking is a special branch associated with capital creation for various types of companies and even government agencies. Investment banks help corporations by issuing new debt and equity securities, assisting in mergers and acquisitions, and helping to sell securities. In short, investment banks come to the rescue regarding large and complex financial transactions.
These banks hire investment bankers. They help every corporation, government, or other organization save time and money by managing all major projects. If any risks are associated with the project, they will identify them and communicate them to the client. Investment bankers are experts with a thorough understanding of the current investment climate. Businesses and companies are turning to investment banks so they can help them move on and grow. Investment bankers will study the company’s details and make ideal recommendations based on market conditions.
Even if you are at the beginning stage of your career, you will be able to build large and complex financial models. It will help you with the ability to become an expert in what you do. Investment bankers are not always good at investing their own money.
Useful tips on how to become an investment banker
Below there is a list of actions worth taking into account that will help you to enter the MBI school:
- Complete a summer internship
Try to complete at least one career-related summer internship. You will not only understand whether you want to develop further in this direction. Still, you will also demonstrate an interest in the chosen industry to members of the selection committee and future employers. In addition, you will acquire useful skills.
- Go abroad
International experience is almost a must now, so if you have the opportunity to study, work abroad, or travel internationally, don’t miss it. It’s a fantastic way to immerse yourself in the language and culture, gain work experience, and still, get paid. If you do not have the opportunity to go abroad, learn a foreign language. French, Spanish, and German are always useful, and you can also increase your attractiveness in the job market by learning Chinese, Hindi, Arabic, Indonesian, etc.
- Pass the GMAT/GRE
Take one or both entrance exams (all business schools accept GMAT scores, and GRE scores are accepted by many) while you are still at university or shortly after graduation. Take a preparatory course, which may be free or at a discount at your university. Preparing later and privately will cost you much more.
- Make introspection
Business school applicants must answer a series of questions that require reflection. For example, What is most important to you and why? Tell me about your failure. Tell us about your three most important achievements. Finally, what would you say if you were evaluating your candidacy from the outside?
- Describe what unique contribution you can bring to the audience
Many candidates are so busy that they don’t have time to think about what they are doing and why they are doing it. So you will get an advantage in preparing the application if you keep a diary. And it’s not about listing what you did today – that’s what Facebook and Twitter are used for. Use the diary for internal analysis. Record the most important moments and what they mean to you, and mark what you have achieved and want to achieve.