Careers In Investment Banking Essay

1108 Words 5 Pages
Careers in Investment Banking

A career in the securities industry can offer exciting work if you enjoy
working in a competitive and demanding atmosphere. Investment bankers, stock
brokers, and stock traders all make up the securities industry providing
services to each other, as well as the general public. All of people involved in
this field deal with stocks, bonds, and other financial material in some way or
another, but they all have their own specific objectives and duties. The primary
differences between the three are the services they provide and who they provide
these services to. Investment banking seems to be the most interesting of the
three, as well as the most rewarding. This is due to the nature of the job
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Working summer
internships in your chosen field also aids in job finding. If these requirements
are met an investment banking firm will consider hiring the graduate into their
two-year financial analyst programs at starting salaries of $25,000-
30,000.(Morgan, 12) The competition to get into an analyst position is extremely
hard and competitive. The competition to get into the trainee classes at the top
investment banking firms is tougher than becoming an astronaut, according to
Preston Pumphrey. (Pumphrey,2) The typical analyst works mainly on analytical
work and also does a fair amount of writing.(So You Want to Be A,4) From here
an analyst has the option to either go back to school and pursue an MBA, or try
to advance to the position of a junior associate, which basically has the job of
supervising the analytical work done by the analysts. Junior associates are
basically trying to learn the business and acquire the skills they need to
develop financial plans rather than to execute them. Their main responsibilities,
according to Rich W., a vice president of a large investment firm, include
running computer analyses, preparing the financial reports which accompany stock
issues, and putting together the documents used by senior bankers to pitch
ideas.(So You Want To Be. 4) Junior associates are primarily…