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Investment baking is a popular career choice for graduates, especially finance and business majors. Although the field is highly competitive, the opportunities are equally significant, and it has a high earning potential. Before joining any career, it’s a good idea to understand if it will be a good fit for you.
1. You Learn A Lot Very Quickly
Because of its fast-paced nature, investment banking offers several opportunities for acquiring new skills and building your reputation. You are exposed to a lot of information regarding financial trends and markets and what makes businesses sustainable.
If you are interested in the stock market, you can take a forex trading course and get an internship after completing your studies. The job trains essential soft skills like communication and self-confidence. Therefore, you are likely to develop much faster than other professionals.
2. The Pay Is Good
Investment banking attracts excellent compensation, both in salary and other benefits. You will also get starting and performance bonuses. Entry-level analysts get between $100,000 and $125,000, including dividends in the first year.
Once you have been in the role for two years, your salary might shoot to $150,000 on the lower end and $250,000 on the higher end. The earnings will continue increasing steadily with every year of added experience. By the time you become a managing director or a vice president, you might be earning over $650,000.
3. Opportunity to Work and Interact with Brilliant People
Both your colleagues and clients are brilliant. You encounter people who are developing remarkable technologies and solving real-world problems. One cannot overlook the benefits of prolonged concentrated interactions with competent, driven individuals. You are unlikely to work with people who don’t want to pull their weight. Most of your transactions will be challenging, and you will be given significant responsibilities within a few months of joining the firm.
4. You’ll Develop Transferable Skills
Many investment bankers stick in the field and progress to become managing directors. However, one can decide to move into related fields like private hedge funds or leave the finance industry entirely to manage startups. Whichever area you choose to venture into, you are likely to be successful because of the transferable skills acquired from investment banking. That’s great for entrepreneurs invested in running their businesses and want to build their knowledge first.
5. Compulsory Vacations
Unlike popular opinion, investment bankers don’t work 365 days a year. Their vacations are likely more enjoyable than for other professionals because they are forced to unplug entirely from their work for two weeks. You aren’t allowed to perform any work duties during this time, including taking conference calls. One shouldn’t talk to clients or respond to emails, and your colleagues refrain from contacting you. So, there is almost zero chance that anyone will bother you while on vacation.
6. It Is A Resilient Industry
If there is anything that previous financial crises have proven, the investment banking industry is steady. Despite the challenges that the industry has faced, it doesn’t crumble and instead comes up more potent than ever. So, it will continue thriving with time, and the people working in the industry will reap the fruits.
7. You Will Develop A Strong Professional Network
Strong professional networks are essential for people who want to move up through their careers and create a framework that will serve them for many years. Since investment bankers move into other fields as they progress their jobs, they interact with many people, most of whom add immense value to their professional lives.
8. Several Exit Opportunities
Investment banks require strong branding. Thanks to their extensive marketing efforts, experts in other fields are aware of the reputable individuals in the different areas. They acknowledge the amount of drive and mindset required to land a position within a large investment bank.
Putting such a name on your profile is proof that you can handle years of extreme pressure, and you are a hardworking individual. Most investment bankers join the competitors when they leave one firm, but you can work practically anywhere in the finance or business markets.
After graduating recently, launching an investment banking career is an excellent way of developing general business knowledge skills to transfer to other industries. Whether you are a history or business major, you can’t miss a suitable entry-level opportunity.