Career Profile: Investment Banker
Why Is Investment Banking a Job of Tomorrow?
Investment bankers are needed to help businesses buy and trade stocks to bolster their financial standing. Employment opportunities for investment bankers are expected to increase 46 percent by 2016, according to the Bureau of Labor Statistics. Investment bankers with one to four years of experience make an average salary of $77,691 annually, according to PayScale, a company that specializes in compensation data.
What Does an Investment Banker Do?
Investment bankers work with corporations to buy and resell stocks and bonds. Bankers also work as consultants with companies, providing guidance to businesses that are undergoing a merger or acquisition. They help companies plan their acquisitions of other firms, drafting plans on which moves would be the most profitable in the short and long-term. They also work with companies to determine their value and how many shares should be released for sale. Investment bankers can also deal in stocks, employing the same analytical skills used on companies to determine the best stock investments. Many entry-level investment banking positions require long hours, but advancement up the ranks often proves to be highly rewarding.
What Kind of Training Do I Need to Become an Investment Banker?
Investment bankers must have at least a bachelor’s degree in business, finance, economics or another related field of study, though many investment bankers now also possess a graduate degree. A bachelor’s degree takes four years to complete, and courses cover market trends and economic history. People looking to advance should obtain a master’s degree in business administration after working professionally for several years.