The Best Jobs in Investment Banking
Investment bankers facilitate the movement of hundreds of billions of dollars through major securities exchanges each day. They are responsible for managing money, advising clients and making sound financial decisions for public and private customers. Investment banking is a very competitive field for potential job candidates. Most positions require at least a bachelor's degree in business, finance or economics and many require an MBA. The best jobs in investment banking reward finance professionals with high salaries and significant fringe benefits.
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Banking Analysts
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Banking analyst jobs are the point of entry for investment banking jobs. Professionals who are new to the industry begin their careers as analysts and receive intensive training for two to three years before they are promoted. Most analysts are recruited after receiving an undergraduate degree. Analysts spend very little time with clients but the amount of training they receive is vital to their success in the investment banking industry. Most analysts spend their days developing information booklets used to sell products to clients. According to the U.S. Bureau of Labor Statistics, analysts earn median wages of $73,670 per year as of May 2009.
Banking Associate
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The "associate" position is an entry-level job for recent MBA graduates. CNN Money called investment banking associate jobs one of the best jobs in American in 2009. Investment banking associates manage analysts and have significant contact with senior bankers and clients. They support mergers and acquisitions, develop financial models and research financial markets. According to CNN Money, experienced investment banking associates make approximately $106,000 per year as of 2009. Top earners in the profession make more than $221,000 per year.
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Advisers
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Advisory jobs are among the best in investment banking because employment was expected to grow much faster than average through the year 2018, according to the Bureau of Labor Statistics. Investment advisers assess the financial needs of their clients and assist them with investments, taxes and insurance. They assist clients in developing financial plans and give advice on which financial products to buy and/or sell. According to the BLS, about 63 percent of investment advisers are employed in finance and insurance industries, and about 29 percent are self-employed. The BLS indicates that average earnings of investment advisers are $68,200 per year.
Brokerage
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Investment brokers are also referred to as stockbrokers or floor brokers. Brokers sell stocks, bonds, insurance and other investment products to individuals and retail investors. Brokers advise their clients on the most appropriate securities to buy based on financial goals and investment ability. Once a decision to buy or sell an investment is made, the broker sends the order to a security exchange. According to Careers in Investment Banking, brokers with good personalities and sales skills can earn upward of $500,000 depending on the commission structure of the investment firm.
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