Settling for an investment bank career right out of college is what many of the graduates prefer as it is rewarding in terms of money. There are newspaper reports, very common, about bankers receiving an annual bonus of more that $10 million pounds. How this happens and what are the requirements that an investment banker requires is a thought that any graduate would have. There are few points that are not told to anybody and few of them are listed below.
Secret 1: No job stability
Working for a single company and being loyal throughout their life to the company as well as enjoying the pension out of retirement is what old people are used to. This is a bygone era where sticking to one job is concerned. Like it or not, college graduates these days will not have the great luck of sticking to a single company in their career. Companies look for profit and performance, if you are good and bring profit you keep your job or else the next day you receive a pink slip. If you are looking at enjoying bonuses, be careful of the spring season when most employees those who need firing are put across the firing line. This is just before bonuses are announced. Employees who enjoyed the best bonuses the previous year can be fired the next season. As with the old system that promotes loyalty to performers the new mandate that seems to be followed is that loyalty is a luxury that no companies or employees can dream of.
Secret 2: Specialization whimpers and jack of all trade wins
Understanding the market in a broad spectrum will allow you to jump from pole to pole when layoff happens and getting specialized in a field won’t let you evolve to the current need. In order to get this, working in different field of investment banking will broaden the knowledge base. This will eventually empower you and will be entitled for better compensation than a specialized co-worker. Keep jumping from one area to the other in the first five years and pull in those experience that will let your resume shine out.
Secret 3: Have an overseas exposure
Companies wants to expand to wherever there is profit and understanding this point is an added advantage. A company based in UK can have different branches of distribution and manufacture elsewhere in a corner of some other continent. Therefore, the current situation be it political, or civil or calamities can affect the profit of the company. In such situations people who have worked in the region are preferred and considered vital assets. So it is advisable to work out of your country once, twice, or thrice in your career and you can expect currency flow in your pocket.
Investment banking is a sector where there is cutthroat competition and to keep you on the winning side you may follow the secrets that are known to you by now.