- Daily Zen
Well, the first thing that comes to everyone’s mind is, the almighty – high collared job, filthy rich set of people clad in designer suits, with headline grabbing deals , who work in financial institutions that primarily deals with raising capitals for government, organizations and other entities, or who work in large banks controlling these activities. Investment bankers may provide various other services like advice on mergers and acquisitions, specific transactions, etc., they start from Analyst and step by step reach to the post of Associate, then Vice President, followed by Senior V.P and Managing Director. Investment banking is at the top career priorities among the students. Perhaps the remuneration amount attracts the most, but it is a challenging job indeed. Remember “The Wolf of Wall Street’? Leonardo DiCaprio excellently played the role of an investment banker, showing us the perks and throwing out a major light on the roller coaster life of an Investment banker.
Having said all this doesn’t mean that it is as easy as it seems to be. It is one of the toughest professions in the world. Other professions might let you lean your back on your chair and rest for a while, but such is not the case with Investment banking; it is rather very demanding and draining profession.
This profession is all about taking risks. The work profile revolves around providing advisory services over finance, trading securities. Each transaction over this has a certain level of a risk factor. So, you need to be ready for this always. The decisions you take and the suggestions you make will include millions, only a shrewd person who might take risks will succeed.
This is an important step for a career in investment banking. The most premier companies will choose the top ranked management institutes for hiring employees. If you have dreamt of working with the worlds’ top Investment banking companies, this is the first step for you. That doesn’t mean that other business school graduates won’t fit in, the experience matters and it could also help you in bagging a job in this profession. But, a degree from reputed and the most premier B- Schools can provide you the VIP tickets to work for the biggest clients in the world. So, it again is an integral way to find success in this field.
Some international clients might need you at their service in some other country, continent or state. As you would be typically working with Investment Banks, apart from financial services there might be other business options too. Since most of the leading banks are centered in metropolises around the world like New York, London, etc., you should be ready to travel anytime with an ease.
This is very important. It requires your presence at any time round the clock for need in the market, which are situated in different zones of time. Teams in different places across the globe require your coordination and availability to be online when needed. So, it depends upon you, that how you manage to overcome such situations clashing with your personal life.
As we mentioned above, it is not as delightful as we think. Dealing with billions, market fluctuations and a different set of clients is a high-pressure task. It feels like being in a constant battlefield. The high stakes and risks might crack the whip in your life, but again it is part of this job. You must be calm and patient to deal when such situations appear. You should possess a balanced state of mind even during the most pressurizing scenarios. No need to panic. Stay calm and draw out a solution to deal with the problems in a positive manner.
The business world is dynamic, highly dominating, and ever fluctuating. It always manages to throw major tantrums for challenges. You need to keep a tab on current happenings around the financial, corporate, and economic world. The latest developments around the business world are helpful in the decisions that require millions.
Let’s face it. Not everyone has the tendency to become a successful and top Investment Banker. Anyone can be a mediocre one, but to excel in this work line you need to be strong in mathematical, analytical, and logical skills because, the work involves drafting out major reports, huge investments, and financial statements. It’s all about the number game and without this; there is no way for carving a niche in this profession.
Hard work is a key to success. We have heard this since we were kids, haven’t we? This is the most underlying rule for success in any profession. Your charming personality and excellent communication skills won’t do wonders if you aren’t hard working and dedicated. Be ready to burn the midnight oil and slog hard anytime when you get the chance, it will be a major boost for success in this profession. This is not a 9 to 5 job we are talking about; it is much more difficult and complex than that. The harder you work, the more deals you will crack and greater are the chances for an immediate success.
Networking is very important; it is something which is required in every profession nowadays. You’re communicating prowess and seizing out the correct information from the right people is the main key to surviving in this profession. Suitable people and pertinent channels should be in your network for excelling in this field.
Most of the operations in this field are across the countries. The teams are located in a different area with a different mindset of people. You need to engage yourself in a diversified team with an ease. Certainly it won’t be easy, but if you work it out well then you are most probably on your path to success and fame. Success is not an easy cake to have; it requires a lot of focus, hard work and dedication to chalk out a path for your own success. There could be times throwing you in a major group of setbacks, but it is up to you on how challengingly you face it and how far can you push yourself to succeed in your aim.