Investment Banker in 2020 – Top Skills Required
JP Morgan Chase, Citigroup, Goldman Sachs, and Bank of America are the big boys most investment bankers dream of starting their career.
The demand for investment banking remains as strong as technology in the banking industry drastically evolves.
A career in the field of finance is inspiring and it sure assures you to be in the money-making business.
Investment Bankers, What They Do?
Investment banking professionals are also called as corporate financial advisors.
Their job responsibility includes: –
- Helping their clients raise money
- Assist in mergers and acquisition activity
- Offer financial advisory services
- Manages the selling of the company’s stock to the public
It is not a whistle-stop journey to get into a banking profession. A career in investment banking requires an amalgamation of strong academic prowess, good networks, perseverance, and lady luck.
However, there are certain skills and abilities an individual must possess before they get into an investment banking profession. Let us look at the prerequisites required to get into a career in the investment banking industry: –
Do you possess the skills of an entrepreneur?
In an investment banking field, the individual needs to be creative as well as innovative. Exquisite skills in determining business opportunities in the most recent areas are one core skill an investment banker must-have.
Affinity for numbers or analytical skills
Have you been in situations where you were required to understand the information provided and come up with a new concept? Recruiters are keen on performing such tests on candidates looking to take up a career as an investment banker.
Their job responsibilities require deep research of their business plans and investment plans to their clients. Thus, analytical expertise is a must-have skill, where their computing and quantitative abilities will be judged.
Leadership and management skills are other skills an individual in the banking industry needs to have. Understanding of business is a major skillset in the investment banking profession. Being a leader is not everybody’s cup of tea. Leadership requires a lot of practice of certain qualities, knowledge, and skills. Doing so allows the individual to achieve the best results. For instance, at the junior level, candidates will need to manage things at their level, look for assistance from other divisions internally, and build teams. Thus, possessing leadership and management skills is mandatory.
Networking includes building valuable contacts and associates. While building contacts, there are certain requirements you need to follow such as possessing an excellent standard of professionalism, maintaining healthy client relationships, convincing skills, and focusing on approaches through the right and proper channels.
Besides being great with analytical skills, the investment banking professional should also possess the power to convince and motivate. For every task that the individual takes up, it will revolve around communication between clients and team members.
Additional Certification Programs
Although these skills are mandatory, it is recommended for an individual to take up an investment banking certification. Professional certification for an investment banker can take the candidate a long way toward your dream job by keeping them updated with the industry trends.
When looking to hire professionals for a financial job, you’re likely to choose certain assorted skills that demonstrate your expertise in the field. Professional certifications are signifiers of expert skills the candidate possess in a certain manner of the financial industry. It is essential to consider taking up a certification program when you decide to switch jobs or upskill.
These certifications are indicators of the candidate’s area of expertise and the level of education.
A piece of additional advice, ensure your knowledge about the current market scenario, market cycles, and economics are up to date.
Employment in the field of investment banking will remain strong until the foreseeable future.