Investment banking is one of the best occupations in the world. It is a lucrative career, and even entry-level positions pay well. There is also lots of room for promotion, with numerous professional prospects available. As you advance up the career ladder and take on more professional responsibilities, your compensation can easily reach six figures.
Investment bankers act as intermediaries between investors and firms, assisting companies in issuing, managing, and selling financial securities to investors. It is an excellent career path for those with good mathematical and analytical abilities. If you want to be an investment banker, keep reading because I’ll explain all you need to know.
What is the definition of an investment banker?
Investment bankers are investment specialists who assist public and private companies in raising funds for their growth. They are good communicators with strong analytical skills and industry knowledge, which they use to advise both investors and businesses. They support businesses by issuing stock, borrowing money, and providing financial advice. They also provide investors with advise on which stocks and bonds to buy, when, how, and at what price.
How to Become a Professional Investment Banker in Nigeria
Becoming an investment banker will need a significant amount of time and effort, but if you are ready to put in the effort, you will succeed sooner rather than later. The following are the steps to becoming an investment banker.
1. Get a bachelor’s degree.
A bachelor’s degree in finance, business, or accounting is the minimum prerequisite for becoming an investment banker. Your degree should equip you with strong arithmetic and analytical skills, as well as a thorough understanding of economics and corporate finance.
Although a degree in accounting, business, or a related topic can still lead to employment as an investment banker, a degree in finance is the best option. Studying finance will provide you with the knowledge and abilities required for a career as an investment banker, such as how to perform financial analysis and predictions, assess financial accounts, and so on. A finance degree will also provide you with a rudimentary grasp of financial markets, which will be crucial to your role as an investment banker.
2. Get a postgraduate degree.
It is not necessary to have a postgraduate degree to become an investment banker. However, obtaining a bachelor’s degree in corporate finance or an MBA will greatly increase your employment possibilities. It is important to note that most higher-level roles in investment banking require a postgraduate degree.
3. Obtain certification.
Depending on your country or state, you may be required to write and pass professional tests in your field of competence before obtaining certifications. You may also be required to pass certain more optional certifications in order to advance in the sector. Research the exact requirements for becoming an investment banker in the country you choose to work in and plan to meet them.
4. Gain work experience.
Do not wait until you are certified to begin gaining experience in the investment banking industry. Start early by applying for internships while still in school. When you graduate and start working, you may not instantly become an investment banker. Apply for entry-level jobs, such as analyst positions, and work your way up as your experience grows. Participate in any on-the-job training, workshops, or seminars offered by your employer to improve your negotiation, communication, and presentation skills, as well as obtain valuable knowledge in accounting, markets, risks, statement analysis, and other related areas.
Entry-level investment bankers should also take advantage of any continuing education programs that may be available to them. This allows you to grow in your job and climb up the ranks more quickly.
5. Establish networks and contacts.
From the minute you enter the financial and investment world, you should begin creating a solid network. This is a critical component of establishing a successful investment banking career that should not be overlooked. Knowing the appropriate people in the investment banking business can provide you with several chances that would not otherwise be available to you. Even if you have achieved substantial success in your career, networking and making relationships will help you stand out in the field.
6. Advance your career.
You will not enter the sector as a top investment banker; instead, you will begin at a lower level, typically in an entry-level finance position. A postgraduate degree will put you in a better position, but you can still advance with a bachelor’s degree.
There are numerous opportunities for job advancement; you must learn to recognize and take advantage of them. Attend workshops and take advantage of any employer-provided continuing education opportunities. Obtain the required qualifications, as well as any additional ones that may be required.
Having a strong work ethic and being an overall good employee will place you in a better position for advancement. If your boss appreciates your efforts, you’ll most likely be on their mind when the next opportunity for promotion arises.
To grow in your profession, you must demonstrate dedication to your work and gain skills and experience along the way. As you gain more knowledge and competence in your area, you will have numerous opportunities to grow.
There are many steps involved in becoming an investment banker. If you want to succeed in this area, you’ll need a strong educational background, connections, and exceptional skills. Hard work and commitment to your career are equally crucial.
Remember to keep up with the current trends and stay competitive by constantly developing your skills. The contacts you build will help you advance your career, so keep an open mind and be eager to meet with other professionals in the sector.