About Investment Banking
A career in investment banking is one of the most sought-after careers in the finance world. This career is highly competitive and time consuming, but offers huge incentives including a lucrative salary and exciting lifestyle.
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Identification
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Investment bankers provide financial services to companies and governments including acquiring funds, investing funds, managing funds, and giving advice about mergers, acquisitions, and investments. Responsibilities that may fall to the investment banker can include trading, selling, or buying securities; managing a companies assets; and offering financial advice on a regular basis as well as consulting on larger projects such as acquisitions and mergers.
Considerations
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When considering a career in investment banking, a person should consider his skills and abilities in the following areas: mathematical and accounting skills, the ability to monitor and analyze the market, organizational skills, people skills, sales skills, and the ability to communicate well. A person should also take into consideration that, while the rewards of being an investment banker are many, it is a highly competitive and intense occupation that requires long hours and a willingness to travel.
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Considerations
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Entering the investment banking field requires a bachelor's degree with a finance related major. A bachelor's degree requires four years of college and should include a major in one of the following areas: economics, mathematics, marketing, accounting, and business administration. In some instances, a master's degree is required for advancement beyond entry level.
Benefits
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Benefits for investment banking include medical, dental, and life insurance as well as paid holidays and vacations. Some firms may offer additional benefits. While the job is high-paced and intense, the financial rewards often contribute to people overlooking the long hours and tedious work involved. A person starting out with a bachelor's degree can expect to earn an entry-level salary of around $45,000 while a person with a master's degree can often expect an entry-level salary of around $85,000. Experienced investment bankers often earn incomes of more that $100,000. Both entry-level and experienced investment bankers often qualify for yearly bonuses that can reach over $10,000.
Potential
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The growth of opportunities in the investment banking field are often dependent upon the economy. As the rules change, and more and more regular banks are allowed to operate in areas that previously required specialized institutions, jobs in investment banking may increase. Just as the job itself is a competitive field, so is acquiring a job in this field. There are often only a handful of jobs available, with thousands of people in the running. Acquiring a position in the investment banking field may require lining up contacts from the early stages of your college years.
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