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If you find joy and meaning in helping businesses source funding for their operations and offering expert advice to wealthy clients to help them secure an impressive ROI on their hefty investments in the financial markets. Besides, the earnings are handsome enough to give you a decent lifestyle. As per Payscale, an entry-level investment banking professional in the US makes an average annual earning of USD 86,476. Further, a banker with experience between 1–4 yrs makes about $99,697 on average per year according to Payscale.
Annual Remunerations by Experience Level for Investment Bankers in the US
The salary further rises as you gain experience with time and reaches a whopping $152,051 when you attain an experience between 5–9 years. A more experienced investment banker with 10–19 yrs in the said industry would earn something around USD 154,027 annually in the US.
5 Crucial Tips for Investment Banking Aspirants
Be Ready for High Levels of Stress to Counter
A career in investment banking is often highly demanding in nature and brings in much stress alongside it. Only those ready to absorb high degrees of stress should enter the said domain. However, bankers do come from a variety of backgrounds, and therefore, can exploit their transferable skills to enter into other related finance professions a few years down the career line such as moving into trading and research.
Having said that, the job of an investment banker is highly demanding, but, comparing it to what they make, financially, it’s all worth it. You will be earning an average of USD 86,000 in the US while being a fresh graduate, in an entry-level role.
Carefully Choose the Banking Sub-Function to Enter Into
Within the investment banking sector exists a variety of sub-functions to choose from to make a career in. You need to choose one among many for your long-term career while keeping in mind your personality traits, skillset, and professional goals. Maybe, you would like to choose a role in which the skills you have learned while studying for an investment banking certification program will come into use. Or, an internship training you have had in the past would help in this specific job role that you are going to take. Make your choice wisely because it will define your future career in the said industry.
You can either work on the operational part of the banking sector or as a corporate investment banker. In the operations, you will be dealing with settlement & processing of monetary transactions, while in the corporate role, you will be responsible to offer expert investment advice to companies from varied industry sectors. In the corporate role, you might get the opportunity to work on facilitating mergers and acquisitions for your client firms.
Opt for an Investment Banking Specific College Degree
You would be appreciated more in a job interview for an entry-level job role if you have an investment banking specific college degree in your name. While even if you don’t possess a degree in a finance-specific subject discipline, it must have a focus on ‘Maths’ as a subject. Economics or business management to involve Maths into it, and hence, they would also qualify as a Mathematics-heavy subject. However, it would be best to have a degree, specifically in investment banking or a closely-associated subject.
Obtain a Banking Internship
Practical skills and on-the-job training provides you with a perfect foundation to start your full-time career in investment banking, and recruiters too, prefer such candidates over anyone else. Internships offer just that. So, try to acquire as many internships as possible while at college, or soon after completing your degree course.
Engage into Networking
Engage with employers and industry professionals by any means possible, be it over the internet, on professional networking portals like LinkedIn, or signing up for informative meetings with employers visiting your campus for recruitment purposes. You can attend online events in the banking sector that are broadcasted live over social media and other digital portals. If possible, try attending events and seminars associated with investment banking by visiting physically.
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