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What is investment banking like

Hi, I am a Finance major and i am interested in a career in investment banking. I know a lot about the culture, but just don't have a clear understanding of what it is actually like to work for an investment bank. Also, if i don't go to a target school, do I even have a shot? & what is it like for women in investment banking? & follow up question, what is the career ladder like for investment bankers do you go from analyst to associate to VP? Just trying to resolve a few questions. Thanks. #investment-banking #investment-management #money-management #investment-banking #investment-management #money-management #finance #business

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Ana’s Answer

This may not be exactly what you are looking for but I work with a lot of financial advisors and can share what a typical day looks like for them. Part of the day is devoted to prospecting, looking for new clients and servicing current clients. This job entails a great degree of compassion to connect with clients, since they are coming to you with their personal finance and wealth management needs. I've learned that many advisors prefer to work as part of a team to offer their clients the most comprehensive solution. So there may be someone on their team that focuses on insurance, retirement planning, wealth transfer, etc. in addition to having a lawyer or an accountant on hand to help with estate planning and tax issues. This is one of the best articles I've come across that provides more detail on the career: https://www.investopedia.com/articles/active-trading/072815/day-life-financial-advisor.asp

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Henning’s Answer

The term investment banking is used very broadly but there are A LOT of different roles within investment banking. "Traditional" investment banking would be advisory to corporate clients (such as M&A), which will include a lot of financial modeling, powerpoint presentations, and meetings/preparing roadshows. You will start as an analyst where you will do most of the modeling work. As you get promoted (analyst > associate > VP > director > managing director/partner...each promotion will take 2-3 years), you will do less of the modeling work and more client meetings/pitching. However, as mentioned earlier, there are a lot of jobs within an investment bank. Generally speaking, the two large divisions are global banking ("traditional investment banking") and global markets. Global markets would include sales & trading but also research, prime brokerage services etc. Those jobs are much more fast-paced and transactional.

Even if you don't go to a target school, I think you have chances to get into investment banking. The most important thing is networking. A first step would be to find an alumn from your college via LinkedIn and connect. From there you can always build your network.
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Marianne’s Answer

At an investment bank you would typically start as an analyst and work up from there. As the previous person mentioned a lot of financial modeling, statement analysis, return on investment analysis. In addition to large investment banks there are many smaller investment shops that also provide opportunities. It's definitely something to look into because you can learn a tremendous amount and obtain a great skillset and work experience. I believe it is probably competitive in terms of finding the jobs and many analysts have their CFA's as well, or would have to get them. Good luck.
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Michelle’s Answer

Mostly modelling , financial modelling , preparing of presentations, but consider your strengths , weaknesses and decide whether that’s some thing for you.

Working within an investment bank, if there’s still such a definition is also not similar to investment banking function.

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Marianne’s Answer

At an investment bank you would typically start as an analyst and work up from there. As the previous person mentioned a lot of financial modeling, statement analysis, return on investment analysis. In addition to large investment banks there are many smaller investment shops that also provide opportunities. It's definitely something to look into because you can learn a tremendous amount and obtain a great skillset and work experience. I believe it is probably competitive in terms of finding the jobs and many analysts have their CFA's as well, or would have to get them. Good luck.
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