Investments Banks have a long history for wealth creation (and sometimes the opposite) and the preconcept of the role of Investment banks in the financial markets has gone through a large change in the last 20 years, even more so in the last 2 years. Lets find out who they are, what they do and what careers they offer.
Here is an example of some of the top Investment Banks globally:
There are a vast array of career opportunities within the financial services sector, which will require specific skills depending on the role. However here are some of the essential skills that you will need to be able to compete with the top candidates in this hugely competitive industry:
As well as having the above skills which are vital to success, a hunger to learn will be key in this fast paced environment. Due to its complexity there are so many different products and services available to the customer and in house that you will want to be able to understand and learn as much as possible, which will put you ahead of the crowd.
Most Investment Banking roles will require you to have a high graded BA or BSc Degree, to even get a foot in the door of this highly competitive and popular industry. Those with degrees in the following subjects will usually get the pick of the job as they have taken subjects that will really help them to get a foot in the door:
However, each Investment Bank will have a different requirement and some might not require a degree. The old adage of working your way up from the post room no longer stands, as the streams of CV’s flood in from the brightest and best who are clawing their way into the sector ready to make a big impact with big results.
Salary Guide: The Average Salary across all job types is £77K a year.
Salaries will depend on the level/grade that you will be entering the bank and the position that you are applying for. Some banks will pay higher salaries than others but in return they will expect their pound of flesh in return with longer working hours and more pressure.
See below for an example the average salaries in the sector:
(Salaries according to https://www.payscale.com/)
Outside of having the standard skillset and education, there are other ways to be a strong candidate for this growing market. Here are five things experts recommend to improve your application, whether you're working in the field already or not.
1. If you are a recent graduate, then there are plenty of opportunities out there for you, with many companies having direct links on their website for you to apply through. Research the sector you are interested in and click the links to the internal job pages for graduates. The top rated Alexa companies can be found by searching here - https://app.careersaas.com/portal/company-search.html
2. Find some online courses: there are plenty out there which could end up putting you ahead of another candidate.
3. Research the company and product that you are interviewing for. It might sound like a simple idea but plenty of candidates turn up for job interviews completely unprepared for the recruiter to ask them any questions. Up your game and employability skills but be a step ahead by researching the company and industry fully beforehand and make sure you have some questions you can ask them too.
4. Don’t be afraid to be ambitious. Everyone has to start somewhere and the person that shows enthusiasm and drive will inevitably do their job well. The candidate that is working towards the next step up is going to do a great job for the employee so don’t be shy of showing your ambitions.
5. Have a dabble in penny shares yourself so you get the feel of the market and how you can learn yourself to make the right decisions on your portfolio with minimal risk.
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