In Banking - 6 months ago
Investment banks are banks that help companies and governments issue securities, help investors purchase securities, manage financial assets, trade securities and provide financial advice. These are the major concerns of investment banks.
Every investment bank, such as the world noted investment banks like Goldman Sachs, JP Morgan, and Morgan Stanley are poised to satisfy their numerous customers and clients. To achieve the optimum cordial business success for their customers, it requires that the staff personnel of these reputable financial bodies are well equipped for the arduous task of satisfying their numerous customers. To achieve the above dream, therefore, it is expedient that intending investment bank workers know the qualities and skills which this noble task demands. Any intending investment bank worker should bear in mind the different arms of the institution, and do well to study about the tasks that are expected of them in their desired position.
The jobs in investment banking includes: industrial coverage, corporate finance, capital markets, mergers and acquisitions, project finance, trading, structured finance, derivatives, advisory, equity and fixed income research, international/emerging markets, public finance, retail brokerage/private client coverage/stockbroker, institutional sales, IT and systems and ratings analyst. The above mentioned areas in investment banking will indeed demand for people with the right qualities for the jobs to delve into such areas, so as to achieve the optimum success for the financial employing body.
Thus, investment banks want employees with a combination of strong analytical and interpersonal skills. Some areas of the jobs, however, lean towards one set of skill than another. For example, brokers need to be mainly sales people and as such requires marketing skills, and an equities analyst requires both analytical and interpersonal skills.
Besides the acquiring of the required skills, every intending investment bank employee should bear in mind that investment bank is a high work, high risk, and a high reward profession. You will experience long hours in your job, though the work can be exciting. There are also moments of frustration where you are overworked, and moments of joy where everything responds accordingly. You should bear in mind too that it is quite hard to break into investment banking. You will therefore need to be prepared to pursue firms on your own after you have thoroughly prepared yourself. Your success to an extent will depend on your ability to communicate with clients and get things done. Again, it also important that you have a good understanding of market trends, the political, macroeconomic environment and deal mechanics. Some jobs in investment banking call for a very strong mathematical ability. And for the analyst, the ability to analyze accounting numbers critically is important in their works. They are also required to know how to work with excel spreadsheets, write macros in VBA track, and generate weekly newsletters, keep schedules, get burgers, generate prospects, put in and retrieve pitch books from the copy center, and answer client phone calls.