Investment banks are financial institutions which assist governments, individuals, or corporations in raising financial capital through underwriting or acting in the capacity of agents of clients in issuance of securities. These banks are different from other banks like retail and commercial banks because they never take deposits. An investment banker (IB) refers to an individual that works in investment banks or with divisions of large banks that provide the above-mentioned services.
The number of degree courses that can prepare one for the job of an IB is big. They include but are not limited to accounting, business, and finance. For those who want to qualify for a position in a company, a bachelor degree is often sufficient. However, there are higher positions that may call for master degree or other qualifications. Business administration programs seem to be favored by most employers since they give students actual field experience.
A lot of emphasis is placed on understanding of business ethics and proper professional conduct by undergraduate and graduate programs. Titles such as floor broker and financial managers may also be used to refer to individuals who finish training. Many areas are covered during training including principles of taxation, accounting, investing, and corporate finance. Training is offered to people who join companies at entry level. For those with advanced training, they have greater opportunities for being promoted and they usually enter companies at the position of associates.
The future is very bright for these professionals. A report by the US Bureau of Labor Statistics estimated that jobs will grow by 11 percent from the year 2012 up to 2022. The growth will be concentrated in three main sectors, that is financial, commodities, and securities. Demand for the workers is expected to grow as baby boomers retire from work.
The duties of the bankers are numerous and very diverse. However, the duties are basically built around connecting investors to businesses that need finances. They help in structuring IPOs for private firms so that they can go public. They work around the clock to beat the scrutiny placed on IPOs until they launch. They also specialize in acquisitions and mergers. They help to structure deals that lead to mergers or acquisitions. They also help to develop agreements and analyze losses and gains made by firms.
Most of the hours these bankers work are spent consulting with customers. Other responsibilities they handle include conducting research, maintenance of data in spreadsheets, and creation of reports. They may be required to do data analysis and offer recommendations. Once in a while they may spend time out of the office to meet probable clients and build industry relationships.
From the work responsibilities of the workers, it is obvious that they are usually very busy. They get into their offices in the morning and spend several hours working. They lack time to rest or social at work. It is typical to work overtime and to break holidays or weekends for work-related issues.
In 2013, the bankers were earning 102, 510 USD as their annual salary. They receive two payment, a basic salary and commissions which are based on how many products they sell. People who hold bigger positions also earn bigger salaries.
The number of degree courses that can prepare one for the job of an IB is big. They include but are not limited to accounting, business, and finance. For those who want to qualify for a position in a company, a bachelor degree is often sufficient. However, there are higher positions that may call for master degree or other qualifications. Business administration programs seem to be favored by most employers since they give students actual field experience.
A lot of emphasis is placed on understanding of business ethics and proper professional conduct by undergraduate and graduate programs. Titles such as floor broker and financial managers may also be used to refer to individuals who finish training. Many areas are covered during training including principles of taxation, accounting, investing, and corporate finance. Training is offered to people who join companies at entry level. For those with advanced training, they have greater opportunities for being promoted and they usually enter companies at the position of associates.
The future is very bright for these professionals. A report by the US Bureau of Labor Statistics estimated that jobs will grow by 11 percent from the year 2012 up to 2022. The growth will be concentrated in three main sectors, that is financial, commodities, and securities. Demand for the workers is expected to grow as baby boomers retire from work.
The duties of the bankers are numerous and very diverse. However, the duties are basically built around connecting investors to businesses that need finances. They help in structuring IPOs for private firms so that they can go public. They work around the clock to beat the scrutiny placed on IPOs until they launch. They also specialize in acquisitions and mergers. They help to structure deals that lead to mergers or acquisitions. They also help to develop agreements and analyze losses and gains made by firms.
Most of the hours these bankers work are spent consulting with customers. Other responsibilities they handle include conducting research, maintenance of data in spreadsheets, and creation of reports. They may be required to do data analysis and offer recommendations. Once in a while they may spend time out of the office to meet probable clients and build industry relationships.
From the work responsibilities of the workers, it is obvious that they are usually very busy. They get into their offices in the morning and spend several hours working. They lack time to rest or social at work. It is typical to work overtime and to break holidays or weekends for work-related issues.
In 2013, the bankers were earning 102, 510 USD as their annual salary. They receive two payment, a basic salary and commissions which are based on how many products they sell. People who hold bigger positions also earn bigger salaries.
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