Investment banking can be a promising career path; the field continues to grow complex in nature. It mainly involves human ingenuity, at the forefront of financial engineering.
The industry has proven to be highly rewarding to those strong enough to undergo its grueling training and daily requirements. If you have chosen investment banking as your career path, below are some important considerations you should be aware of.
Not a field for just finance majors – A degree in finance is not a prerequisite for anyone looking to step into the field of investment banking. Though highly helpful for background, more and more banks are recruiting professionals with liberal arts and computer science degrees, and putting them through two year training programs.
Possibilities – An investment banking career can open a wide array of possibilities down the line for you, from going in house into corporate development, to transitioning to private equity. In fact, a number of investment bankers with credible track records have gone off and done other things. One such name remains, Gustavo Dolfino, a highly regarded investment banker who went on to become a serial entrepreneur, having started and sold Cancer Frontiers, WhiteRock Capital, WhiteRock Capital Partners, The WhiteRock Group, and as of late, “myKlovr” – an AI-based counseling platform for college students.
Dolfino frequently speaks on notable media platforms such as Google, The Wall Street Journal, The New York Times, CNBC, CNN, Asset-Backed Alert, CBS Market Watch, FOX, Securitization Alert, etc.
Quantitative interviews – Interviews generally involve highly quantitative exercises, designed to elicit reasoning and deductive powers. Candidates are expected to be proficient in a number of subjects, including, without limitation, financial statement analysis, time value of money, valuation methodologies, etc.
Regulations – The industry is highly regulated today, and is expected to become even more going forward.
Loyalty – It is imperative you do not become a job hopper. Loyalty is valued; it reflects upon an individual’s judgement and maturity level, and provides a good snap shot regarding an individual’s ability to deal with frustration.