It is difficult to pinpoint one quality that attracts thousands & thousands of people towards the investment banking industry. I think when you start looking for reasons to work in this named & famed field, each to his own. Some go into IB for the very obvious purpose of earning tons of money, a few are attracted by the fast-paced fancy lifestyle, while others join it just for the love of numbers & figures. So, whatever the reason might be, the point is that professionals just crave for an investment banking career.
The job profile of an investment banker is as lucrative as it can get, therefore, many people take interest in knowing what exactly is it that these guys do to earn so much money. Hence, I am presenting this article to calm down this curiosity by highlighting the activities encircling the job profile of an investment banker alongside the skills required to become one.
The job of an Investment Banker
The primary purpose around which an investment banking career revolves is raising capital for companies by issuing debt alongside selling equity. Apart from this essential duty in IB, one is also supposed to look upon mergers and acquisitions together with advising different clients on multiple kinds of investment opportunities.
Though it looks all desirable and easy from the outside, an investment banker needs to put in a great amount of effort and long hours to survive and thrive in the fierce investment banking industry that’s the biggest trait is cut-throat competition. Moreover, any job that involves numbers and handling other people’s money has got to be demanding and hectic beyond one’s imagination.
An investment banking job pulling out a lot of your energy and hours, which makes it evident why even freshman with undergrad degrees and entry-level jobs are able to acquire a six-digit salary right in the beginning of their career.
Now. Let us have a look at the qualities that one must acquire for a job in IB.
Qualities required to have an Investment Banking Career
IB is usually described by using words like aggressive and high-speed, so it is a no brainer that anyone going for a career in the Investment Banking Industry has to be fearless, shrewd, headstrong and solid on work ethics. As, it is incredibly tough for someone without these traits to survive in this field because as far as IB is concerned, only the fittest one survives.
A knack of numbers is a prerequisite for a very clear reason that the whole domain is surrounded by facts, figures, and numbers. But, that’s not it, as having quantitative awareness is equally important. However, one character without which an investment banker can never thrive is hard-work. As I have mentioned again & again that the work in IB is never-ending. As a matter of fact, the initial years in the Investment Banking Industry demands one to spend no less than fifty to sixty hours per week in the office. So, you can imagine how much it is essential for an investment banker to have patience.