Being an Investment Banker is among the top career options considered by students. Perhaps it has got to do with the amount of remuneration involved. However, skipping all intricacies, it is fair to say that it is a challenging job indeed. So without further ado let’s find out how to succeed as one.
10. Willingness to Travel:
As an Investment Banker you would typically be working with Investment Banks. Apart from that broking firms, mutual funds and financial services companies are other options too. But since most of these are centred in cities like New York and a few other metropolises around the world, you would have to be always ready for travel. Thus willingness to travel is one of the qualities needed for one to succeed as an Investment Banker.
9. Balance Personal Life:
Yes; this is certainly something that everyone would recommend. It is a job which requires availability round the clock for markets are located in different time zones. With the teams placed in different cities in the world, something coordinating and even driving the daily business would require you to be online and ready. So personal life would surely take a back seat and you need to be prepared for that. The way forward would be how you manage both aspects of your life as you cannot possibly succeed in one with the other in doldrums.
8. Risk Taker:
Investment banking is all about risk taking. The job profile involves providing financial advisory services, selling and trading securities. Since each of the transactions involves a certain degree of risk as an investment banker you would need to be up for it. The decisions you take as an investment banker could also involve millions and hence only a shrewd risk taker could succeed in this front.
7. Management Degree from a Reputed College:
Most premier Investment Banking companies chose celebrated Management Institutes to scout for talent and employees. If you want to work in the top Investment banking companies in the world, this is the way to enter their world. Of course, relevant experience could get you a job as an investment banker as well. But a degree from a reputed B-School would give you the VIP passes to work with some of the best clients in the world. This again is very much integral to success in this field.
6. Ability to Work Under Pressure:
Dealing with money and millions of it is a high pressure job. It is like being in a war room constantly. High risk and hike stakes would rule the roost in your life as an investment banker but then that is a part of the job. The trick would be to remain calm and deal with situations with a balanced mind irrespective of the pressure. So if you do not panic and work calmly in the trickiest of situations, you would definitely be on the way to become a successful Investment Banker.
5. Firm Logical and Mathematical Skills:
Not everybody can become a successful Investment Banker; yes anyone can be mediocre at it but that’s not what we are discussing, are we? One must have the aptitude to excel in this line of work. Strong analytical and mathematical skills are indispensable as the job requires poring over financial statements and roiling out reports. It’s all about numbers and without a concrete base, carving a niche in this field is near impossible.
4. Knowhow of the Business World:
The World of business is dynamic, ever shifting and always manages to throw up new challenges. As an Investment Banker you would need to keep a tab on things that happen in terms of financial or economic know how. For decision making, again which might involve millions, you need to know the latest developments to be able to make an informed choice.
3. Good Networking Skills:
Good networking skills is something that is perhaps needed in every sector these days. Communication and getting the right information from the right people is the key to survive in this industry. The appropriate channels and the suitable people need to be in your network for you to make headway in this field. Collaborating with hundreds of people and companies each unique is a part of the job description of an Investment Banker. Hence, networking skills are imperative.
Isn’t this the underlying rule to being successful in any field? You might have a charming personality and even be excellent in communication but that isn’t worth a penny of hard working isn’t your cup of tea. So if you are prepared to work hard, burn the midnight oil if needed, then you have got the chance to excel in this line of work. It is not really a 9 to 5 job; it is more complex than that. The more you work hard, the more deals you would be able to clinch and the greater would be your chances of success.
1. Interpersonal Skills:
Most Investment banking operations have teams across countries. The teams too are located across geographies with people of different temperaments. To excel in your job, you would need to work well with your team. That certainly wouldn’t be easy since it is a stressful and high risk job. But if you manage to work well in a diverse team as well, that would most definitely chalk out the path of success for you.