How to Become an Investment Banker in New York City

Investment banker are a very important part of the financial system.

If you want to become an investment banker in New York City, it is important to understand the most typical ways that people end up working in these positions. Investment bankers are used in a number of different ways within a bank, but most investment bankers are typically in charge of generating funds for the organization by either selling stock or seeking funds from venture capitalists. Because New York houses the firms of Wall Street, getting a job as an investment banker in the city is one of the most difficult aspirations in the industry. While the job description is generally the same, the expectations at these large investment banks are much higher than other parts of the country.

Instructions

1. Pursue a bachelor's degree from a top college or university in either finance, economics or a related discipline. Taking courses in intro-level and advanced finance and economics is required, especially if you wish to work on Wall Street. It is very important to do well in these classes, as investment banks always looks for a strong GPA in potential candidates. These banks seek out the top students from these business programs on a yearly basis and use them to fill their summer internship programs. While it is possible to become an investment banker without having attended a top school, it is much more difficult to obtain the job.

2. Obtain a summer internship while in college with one of the top investment banks on Wall Street. Getting into one of these internship programs and performing well is the most common way to get offered an entry-level investment-bank job with one of these firms. Use the time during the internship to network and show off your skills to those already working at the bank. All of the top investment banks on Wall Street will do on-campus hiring events to seek out prospective interns, so attend all finance-related career events held at your school. The internship programs all have a limited number of seats, so doing well in class and having strong business-related extracurriculars will help make an applicant strong.

3. Work hard and network during your internship program to make the most out of your summer with the investment bank. This is the time period in which your superiors will decide whether or not you have what it takes, so always do your best work and exhibit your best qualities while on the job. In addition, always attend social events that take place outside of work hours, as these are usually the best times for prospective employers to get to know you on a personal level. If you have performed well and struck the attention of the investment bankers at the firm, you will likely be furnished an offer to start the summer after graduation. If not, seek work in another related position and continue applying for open positions as they become available.

Tips & Warnings

• For those who did not attend a top college or university as an undergraduate or did not get hired following an internship, gaining entry and completing a Master of Business Administration from a top school is also a common entry point into becoming an investment banker in New York City. However, acquiring a summer internship while completing one of these programs is also usually required in order to receive an offer for employment.

References

• How to Get a Job on Wall Street; Proven Ways to Land a High-Paying, High-Power Job; Scott Hoover; 2011