How to become an Investment Banker in India?
In the world of finance Investment Banking is one of the most famous term. In today’s time many qualified people such as professionals and graduates are looking forward to become an Investment Banker. It is trending , pocket friendly and on of the toughest jobs in the world.
The hiring of applicants, recruiters get choosy of the best talented people and most deserving ones as the demand of jobs in this domain are increasing while the number of jobs is limited.
If a person has logical mind and is fully focused for his or her career, he or she can make way to the investment banking through proper education and skills.
Education criteria for entering into IB industry:
1. MBA (Finance)
MBA finance is considered to be essential over other things. It teaches various topics which are favoured in IB like-
- Business acumen
- Financial analysis
- Management consulting
- Knowledge of accounting
If candidate belongs from colleges like IIMs, IITs, ISB, FMS, Xavier’s, IIFT and so on it gets smooth for them.
Being a Charted Financial Analyst (CFA) certainly helps you to get smooth way to enter IB industry. Even if you are a level 2 or level 3 candidate you have a safe way. They are recommended in industries like investment banking, management consulting, hedge funds, mutual funds, etc.
Charter Accountants (CA) are preferred as the IB industry recommends it. A large number of CAs are moving to IB industry because of its salary and fame.
The requirement which is very minimal is of being a graduate. You can only take an admission by being a graduate. You can get a good post but only if you have some good experience, skills, qualification, etc.
Things to improve to enter into IB industry:
- Analytical skills
Analytical skills have an essential role in this industry. Improvisation of skills is important. Great minds makes the things learn more quickly and easily.
- Mathematical skills
This plays an integral role in entering into IB industry. Good knowledge in mathematics makes you successful in this. In this there is more than basic math.
- Basic Finance Knowledge
Lacking in this field will not let you to enter into IB industry. Knowledge of these components will certainly help you
- Profit& loss account
- Balance sheet
- Cash flow statement
The skills in this are required for any interview regarding finance.
- Excel and PowerPoint skills
To work on investment banking 80% of the work constitutes of excel and power point. The basic and advanced knowledge is required. One can take online courses for the same to enhance skills.
- Financial Modelling
It is considered a great way to enter into IB industry. They always search for models in scratch and it will become easy if one is already a part of them
What are the ways to get into investment banking?
- Go to the right personnel
The best option to call for your application is by looking for a right personnel and talking to him directly. Highlighting the points and making it attractive is required while writing an application .
Here, associates or vice presidents can help you better as they influence the hiring part.
- Secure an internship in investment banking
Getting an internship in the first place is better than directly getting an analyst position. It makes an easier way in the job in IB industry.
- Be a part of analyst Programs
Banks like Goldman Sachs, JP Morgan, Stanley, Credit Suisse, etc practice programs for aspiring applicants to join them as an analyst.
- Build Connections
Developing networks is an integral part of the job. Good connections with the co workers can give a good profile in IB
- Pursue an investment banking course
Nowadays, many institutes help people in learning about IB. they help them till they get a good and high image in this industry.
Hence, IB is one of the most trending term in the finance world.