A Rough Guide To Investment Banking Jobs

Investment banking jobs are one of the most financially rewarding areas that a graduate can go into after leaving university

. They may not be easy but with the challenges of the work comes a great deal of prestige - and perhaps most importantly, a comparable salary.

Generally speaking, to be a viable candidate for a job in investment banking, you'll need to be a graduate. You'll also need to be a fairly high performing graduate; most investment banks will only consider you if have achieved at least a 2:1 honours degree. The biggest, most prestigious banks at the top end of the market are among the fiercest competitors for first class graduates, so the better your degree the better your prospects in netting an entry level position in investment banking.

One of the most important things to understand about a career in investment banking though is that it's not just one type of job. It's several different roles, from trading to tax consultancy to market research, asset management or even further into the so-called 'back office' roles of human resources or marketing. Consequently, these jobs draw upon a wide variety of skills and many different degrees will be considered by investment banking employers.

Of course, the trading and quantitative positions in investment banking are mainly looking for graduates who have studied a degree with a substantial mathematical element to them - generally bachelor of science (Bsc) courses. Obvious candidates include economics, mathematics, accounting & finance or business studies. However, they'll also consider you if you've studied less obvious degrees such as physics, chemistry, or engineering.

Other areas will be looking for a more varied selection of candidates though. The corporate finance and sales divisions of an investment bank, for example, will be looking for any graduates who have demonstrated commitment to their studies and dedication to their work. Marketing, Geography, English, Politics - if you've excelled, you'll be welcome in any bank.

Working in investment banking isn't something you should embark upon lightly though. The rewards are high - but so are the responsibilities. If you're after a standard nine to five or if you don't like being placed under extreme pressure, then this isn't the career for you. Whilst you'll generally be expected to work a set number of hours on a regular basis, depending on the contracts you're working on you'll be expected to work as long as it takes to meet the deadlines for each client.

Of course there are benefits to make up for this. Whilst starting wages have dropped considerably in recent years - once it was common to enter a role with a starting salary of 32k-40k - and the initial 15k salary is less appealing, investment banking is a job with huge prospects. Nearly every role in either the 'front', 'middle', and 'back' offices will qualify for bonuses throughout the year - and they can run from 50% to 150% of the base salary even in the first year if you work well.

Plus past the first year you'll hopefully be on your way up the career ladder, where the prospects are even better.

by: Edward Parker

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