advice for student who wants to become an investent banker

studentstudent

Hello,

I would like some advice on becoming an investment banker, in the likes of london or new york, london is probably more focused on this industry i presume, well basically i need advice on qualifications needed, as well as experience needed and also an insight into the work of an investment banker, i am in seconf year of a general business degree my results arnt great mostly 40's,50's and some 60 per cents. any advice taken :D:D:D

Slippers

Have a look around here
www.wallstreetoasis.com/forums
and here
www.wilmott.com/categories.cfm?catid=16

Économiste Monétaire

Those are quite poor grades to have if you're looking to break into a highly competitive and shrinking industry. Ask on the post-grad forum about UCD's and TCD's respective MSc in Finance courses.

Daithio

Take as many maths/ quant courses as you can, bring your grades up to at least the high 60's low 70's, and try to line up a decent internship for this coming summer. Try to work yourself up to a position of responsibility in some clubs and societies you are interested in. How are your L.C. grades? If they're not >500 points I wouldn't bother tbh.

Flamed Diving

Daithio wrote: »

Take as many maths/ quant courses as you can, bring your grades up to at least the high 60's low 70's, and try to line up a decent internship for this coming summer. Try to work yourself up to a position of responsibility in some clubs and societies you are interested in. How are your L.C. grades? If they're not >500 points I wouldn't bother tbh.

Yeah for some reason, this actually matters. How anyone can describe being the vice-president of the hill-walking club as a position of responsibility is beyond me.

InReality

I think its pretty much pure luck and 1st hons to get into "pure" investment banking - goldman sachs and 70k starting salaries and all that.

I'd have been read of some books written by bankers about it too, i've read a few but can't think of the name right now.

Lehman Bros ( expired ) for example had quite a convoluted process where you went for lunch with various managers but never a formal interview AFAIR.

SLUSK

studentstudent wrote: »

Hello,

I would like some advice on becoming an investment banker, in the likes of london or new york, london is probably more focused on this industry i presume, well basically i need advice on qualifications needed, as well as experience needed and also an insight into the work of an investment banker, i am in seconf year of a general business degree my results arnt great mostly 40's,50's and some 60 per cents. any advice taken :D:D:D

Well if you are any good as an investor you should be able to make heaps of money without working as an investment banker...

Slippers

Investment bankers aren't investors.

http://www.princetonreview.com/Careers.aspx?cid=84

"A Day in the life of a Investment Banker

Investment bankers advise their clients on high level issues of financial organization. They manage the issuance of bonds, recommend and execute strategies for taking over and merging with other companies, and handle selling a company’s stock to the public. The work thus involves lots of financial analysis, and a strong background in finance and economics is a necessity. Personal and strategic skills are vital to investment bankers as well, for they serve as strategists for their clients, helping them develop their financial plans as well as implement them. At the profession’s highest level, investment bankers serve as crucial figures in the shaping of the American and world economies, managing mergers of multibillion-dollar corporations and handling the privatization of government assets around the world. All this is time consuming, and investment bankers work long hours. Work weeks of 70 hours or more are common, and all night sessions before deals close are the rule rather than the exception. Still, the work is extremely interesting, and those who stay in the profession report high levels of job satisfaction. Investment bankers spend large amounts of time traveling, to pitch ideas to prospective and current clients or to examine the facilities of companies being purchased by their clients. In the office, they spend their time developing strategies to pitch to clients, preparing financial analyses and documents, or working with the sales forces of their banks in selling the bonds and stocks which are created by the investment-banking department’s activities."

homeOwner

If you want to get a start in one of the big investment banks outside ireland, you need to apply for summer internships in your early college years. If they like you on these programs, they will consider you for their graduate programe when you graduate. If you dont even apply for these you are lessening your changes of being picked on a grad prodgram.

Even if you are sticking to Irish banks, apply for the grad programs early in your final year....all the places are given out before the exams even start.


Also you'll be competing against the business grads from top colleges (if you go to London or the US) so you have to have alot of extra things going for you besides good grades, like being on committes in college, doing volunteering etc....

Good luck.

Michaelrsh

I'm also interested in investment banking but I'm not doing a business degree . I'm doing physics in ucd. Just started in September. The idea of Investment banking only came into my head about a month ago. I hear that you need a lot of numerical ability for Investment banking and I thought I might have a chance with my physics degree (seen as there's a lot of maths in it). I was never really good at maths at school yet I did honours maths for the Leaving Cert. However, now I find that I'm starting to get better at it as I have more time to practice it in college. I am a hardworking person and I do regard myself as ambitious. I'm also taking a macroeconomics elective next semester, which I thought might help.

Can anyone give me advise as to how I can go from physics to investment banking? Do I need a post-grad.?

gerry87

Michaelrsh wrote: »

I'm also interested in investment banking but I'm not doing a business degree . I'm doing physics in ucd. Just started in September. The idea of Investment banking only came into my head about a month ago. I hear that you need a lot of numerical ability for Investment banking and I thought I might have a chance with my physics degree (seen as there's a lot of maths in it). I was never really good at maths at school yet I did honours maths for the Leaving Cert. However, now I find that I'm starting to get better at it as I have more time to practice it in college. I am a hardworking person and I do regard myself as ambitious. I'm also taking a macroeconomics elective next semester, which I thought might help.

Can anyone give me advise as to how I can go from physics to investment banking? Do I need a post-grad.?

Not too sure on IBing, but have you looked into trading at all? They like physics grads.

Michaelrsh

gerry87 wrote: »

Not too sure on IBing, but have you looked into trading at all? They like physics grads.

No I haven't actally. What sort of trading do you mean? How about 'Financial Analyst'?

gerry87

Michaelrsh wrote: »

No I haven't actally. What sort of trading do you mean? How about 'Financial Analyst'?

If you wanted to become a financial analyst the CFA qualification is a top one to get, it would be a good conversion too.

Trading is different, traders are the guys that sit in front of like 5 computer screens buying and selling things. The things varying from stocks, indices, currency, options etc. It's a pretty mathsy job so they like maths/physics grads, often they don't require any knowledge of finance because they train you in it. Quick mental arithmetic has to be up to scratch too.