Calling all finance and business majors! Looking to get a jumpstart on your future career in the finance industry? Investment banking is one of the best jobs that you can have on your radar. It is already quite a popular place to start for recent graduates, although it can be very competitive and tough. This is because there is an incredibly high salary waiting for those who are cut out for the job. If you want to be the lucky graduate who makes six figures before the end of their 20s, definitely keep investment banking in mind.
Investment banking offers a lot of opportunity to recent graduates because:
1. You Have Incredible Earning Potential
You can start out making $100,000 or more with any entry-level position in investment banking. Plus, you can always earn bonuses throughout the year. After a couple of years in your starting position, you can move up to $150,000 – $250,000, and that number will only increase with time. By the time you are at an upper management level, you can be earning over $650,000 per year.
2. You will Grow A Career-Making Network
Even when it comes to entry-level jobs, it’s all about networking. Of course, making professional connections just becomes more and more important as you rise up the corporate ladder. Getting started with investment banking can boost your ability to connect with influential people who will ultimately help you reach your goals.
3. You’ll Develop Useful Skills
If you someday decide to leave the world of investment banking and move on to other positions in the financial field, you will find that all of the skills you learned as an investment banker are transferrable. No matter what career path you follow, the experiences you develop in investment banking can offer you a smooth transition into the new professional field of your choice.
4. You Learn Fast
Investment banking is very fast-paced. Everything has a deadline and everything is urgent. With multi-billion dollar corporations serving as your clients, it’s up to you to understand how to best work your financial magic. A lot of experience comes from on-the-job learning, which you will certainly get a lot of even in a starting position.
5. You’ll Build Stamina
Investment banking will work you to the bone and beyond. You face 100-hour work weeks, so you can say goodbye to your social life. But after years of experiencing this kind of intensity and exhaustion, you’ll feel like you can face just about anything. If you transition into another job or field, your new hours and freed-up weekends will seem like a dream come true.
6. You’ll Become Attentive to Every Detail
Attention to detail is a coveted skill that not many can claim to be good at. But if you weren’t already born with a great knack for noticing things, the investment banking field will push you into it. True attention to detail includes noticing every little thing. Correcting notes, editing texts, and, most importantly, making sure all of the number-crunching has been done right. You even need to notice if a statement accidentally has two different font sizes. You will learn to be a perfectionist.