UN Blog: How do I become an investment banker? and 2013-05-16 Russell Investments Center

Sunday, September 29, 2013

How do I become an investment banker? and 2013-05-16 Russell Investments Center

How do I become an investment banker?

I'm looking into working in investment banking, and was wondering what I need to do? Where should I intern, what's a good place? What are people hiring investment bankers looking for? I'm also graduating with a degree in Economics soon.

Investment best answer:

Answer by Jack Raiton
There are investment banks on the west coast and the east coast.

Bigger investment banks are Goldman Sachs, Citicorp, Merrill Lynch, Morgan Stanley and Bear Stearns, to name some.

There are also regional firms in most large cities. Chicago, SF, LA, Atlanta and Denver all have banking firms.

If you can, interning at an IB is a good move.

Your best bet is to get good grades and have extra-curricular activities and something that makes you distinctive. They are looking for good accounting, finance and econ skills.

Get interviews from you placement office.

If you are looking for a 40 hours a week job, don't get into IB. You will be called an associate for your first two years and work ungodly hours, often seven days a week. Much of the work will be grunt work. Make sure you know Excel.

After two years, most associates leave and a few are asked to stay and are promoted to the next level.

You can order books via Amazon that tells you, in vivid detail, what being an associate IB entails. There is one about starting at Bear Stearns.

Don't be deceived by the glamour. It is a lot of work, even with the good salaries. Also, many of the people you work with are super Type A's.

Good luck.