How to become an investment banker
If you’re interested in the world of banking and thrive in a challenging and fast paced environment, read on to discover the routes into this profession.
CONTENTS
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Routes to becoming an investment banker
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Skills you’ll need
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Finding work experience
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How to get a job as an investment banker
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What it's like to be an investment banker
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Routes to becoming an investment banker
You’ll usually need a relevant degree along with professional qualifications to succeed in the competitive world of investment banking. There are various routes you can explore including undergraduate, apprenticeship and postgraduate degrees.
Undergraduate degrees
Many investment bankers have a relevant degree in investment banking, finance, accounting, economics, or business. Entry requirements vary but typically range between 96–160 UCAS points. An undergraduate degree will usually take three or four years to complete depending on whether it includes an integrated foundation year, professional placement, or year abroad.
Degree apprenticeships
Some investment banks offer degree apprenticeships in the UK, such as JPMorgan, Deutsche Bank, and HSBC. These types of apprenticeships typically involve a combination of on-the-job training, mentoring, and classroom learning. You may study topics such as finance, economics, accounting, and investment analysis.
Entry requirements are set by the employer and the course provider. You’ll usually need to apply and attend an interview. Competition is fierce so make sure you prepare well and have the relevant A Levels or equivalent that the employer is looking for. Search for an apprenticeship vacancy via Find an apprenticeship.
Postgraduate degrees
It’s not essential to gain an additional postgraduate qualification to become an investment banker but worth considering if you want to progress your career and specialise in a particular area. You’ll usually need a relevant undergraduate degree as a minimum requirement and be prepared to study for two years part part-time or a year full full-time.
As well as being financially savvy with great numeracy and IT skills you’ll need to demonstrate:
- Strong analytical skills
- Effective communication
- Ability to cope under pressure
- Attention to detail
- Time management
- Teamwork
- Networking
- Adapt quickly to changing circumstances
- Resilience
- Ability to influence and negotiate
- Great customer service
- Fluency in another language is often useful
It’s useful to have some work experience to draw on in this competitive field perhaps from an internship, degree placement or volunteer role.
Try looking for work by:
- Shadowing an investment banker or other finance professional to gain insights into the day-to-day responsibilities of the job. Contact investment banks and ask if they offer shadowing opportunities
- Volunteering for a charity or start-up venture in a financial capacity can provide you with transferable skills such as budgeting, financial management, and project management
- Finding part-time work in a related field like retail banking
- You could develop your skills by working on personal projects like analysing stocks and shares
How to get a job as an investment banker
The main employers to look at are investment banks and firms, stockbrokers, the London Stock Exchange, the Financial Conduct Authority, and private equity fund companies.
Some investment companies offer graduate schemes which are advertised on their website. These opportunities are highly sought after and often filled before the application deadline is reached so apply quickly.
In addition to individual companies' websites, you could also check the financial press such as the Financial Times, or national press like Guardian Jobs, The Times Jobs, and The Economist Jobs.
As an investment banker, you’ll be responsible for providing a range of financial services to you’re your clients so they can manage and make the most of their investments. With experience, you may also advise and lead management buyouts.
Depending on your role and specialisation, your tasks could include:
- Finding new investment opportunities
- Researching the financial performance of your target companies
- Keeping up to date with political and economic developments that affect the financial markets
- Examining company accounts
- Analysing data
- Producing reports for fund managers and stockbrokers
- Ensuring that all work meets strict financial regulations
Graduate investment bankers are usually expected to complete a rigorous induction programme, as well as additional in-house training. Some employers require further professional qualifications. The Chartered Institute for Securities & Investment (CISI) provides qualifications related to investment banking.
Starting salaries for graduate operational investment bankers are around £25,000 while graduate corporate investment bankers could earn between £30,000–£40,000. As you gain experience this could go up to between £50,000–£70,000. Senior salaries can be as much as £150,000 or more. You may also earn commission and bonuses on top of your expected salary.
Investment banking has a reputation for long and unsociable working hours, particularly in junior roles where 65–70-hour weeks are not uncommon. This is certainly true of corporate investment banking, however, operational investment roles tend to be more regular.
Is a role as an investment banker right for you?
The banking sector can be volatile which will affect graduate opportunities but if you are determined to succeed in this competitive and often stressful environment, you could have a very lucrative career.
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- What do graduates do and earn?
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