Investment Banking 101
The first thing you will learn in investment banking 101 is what exactly investment banking is. An investment bank is a financial institution that underwrites for corporations and governments who issue securities. They offer brokerage services and financial advisory services to companies also. These banks also handle things like acquisitions, mergers, corporate restructuring and private equity placements. Investment banks only work with certain types of clients and do not offer their services to private individuals or small businesses. For that you would need a personal and/or commercial bank.
There are two different types of firms in the world of investment banking. Bulge bracket firms have between 15,000 and 50,000 employees located all over the world. The other type of firm is called a boutique firm. Boutique firms employ only between 500 and 3000 people. You will find that working for a bulge bracket firm is much different than working with a boutique firm. Many people have a preference as to which type of firm they want to be a part of.
You will need to learn how to get a job in investment banking before you consider it as a career possibility. A minimum of a Bachelors degree is required although MBA degrees are preferred. Prior to your senior year you should take a summer internship at the firm at which you want to work, if you can get it. The best internships are very competitive because recruiters often choose from their summer interns when filling a position. It is the goal of every intern to not only gain real world job experience in their chosen field but also try to get a job offer for after graduation.
Another thing you will learn in investment banking 101 is the promotion structure. Undergraduate students start off as analysts. From there they complete their masters program and go on to a position as an associate. Associates make more money and have a higher rank than analysts. After the associate level comes the Vice President level, followed by Managing Directors. As you can see there is a great possibility for advancement for a career minded investment banker. The first step is obtaining the right education and training in order to begin your career.
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Investment Banking News:
GMAC Adds Loans as US Injects $6 Billion to Aid GM - Bloomberg
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WRAPUP 1-B of A, Wells close mergers as banking transforms (Reuters via Yahoo! Malaysia News) * Merrill, Wachovia end decades of independence.. | ||
Libor at Four-Year Low as Central Banks Offer Cash, Cut Rates - Bloomberg
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Marginal Revolution: The future of investment banking "Investment management" is not equivalent to "investment banking." You are conflating two different business models, like real estate investing and real estate brokerage. That being said, viewing the Donnie Brasco clip in the context of ... | ||
Directors of Investment Banking & Financing - jobs from exec . Directors of Investment Banking & Financing - Various locations - Outstanding Compensation... | ||
Wells Fargos Purchase of Wachovia Tested by Economic Crisis - Bloomberg
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2 big banking sector acquisitions completed (AP via Yahoo! News) Two mega acquisitions in the banking sector have been completed following the biggest financial crisis to hit the United States since the 1930s, capping a year in which Wall Street stocks were hammered, home foreclosure rates soared and job losses mounted... | ||
What to do with your money in 2009 (Long Beach Press-Telegram) Sacramento certified financial planner Tina Florence and another Sacramento financial planner, Steven H. De Jong, echo the advice that Swiss investment banking giant UBS is offering clients around the world: "Proceed with caution.".. | ||
Credit Suisse Founder Securities Opens - Trading Markets (press release)
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DAILY EXPRESS NEWS (Sabah Daily Express) Kuala Lumpur : Malaysia topped the list of investors making foreign direct investment (FDI) in Pakistan during the July-December period this year with Maybank making the biggest investment of US$907 million in the banking sector... | ||
Investment banking holds its breath - AsiaOne
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Investment Banking Blues Last week's issue of The Economist cites some sobering figures about the investment banking sector. Data from the Boston Consulting Group (BCG) and Thomson Reuters indicate that revenues were down by over 75% in the third quarter from ... | ||
Saturday 27th 2008f December 2008 03:48:19 PM DIEM BROWN BRANDON HOGAN BUCK BURNETTE CAITLIN DAVIS VICKI VAN METER CHILDREN OF THE CORN WEST VIRGINIA FOOTBALL HOSS FLY THE SECRET GARDEN NATIONAL LAMPOON S BARELY LEGAL ... | ||
Investment Banking (New York Times) Many corporate programs employ microloans, grants or gifts to promote business education for women in emerging markets. But Goldman Sachs , the big Wall Street firm, decided to take a different approach... | ||
How to Achieve an 8-Figure Net Worth, Banking in Asia vs. NY . Questions answered on investment banking pay, wardrobe, Hong Kong vs. New York, business school, breaking in, and investment banking interviews... | ||
Bank of America, Wells close mergers as banking transforms - 1/01 . Adding Merrill makes the bank's brokerage, credit card, investment banking, mortgage and wealth management operations, plus its deposit base, the nation's largest or close to it. "We are now uniquely positioned to win market share and ... | ||
Housing, credit crises slammed bank stocks in '08 - Forbes
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Bank of America Completes Merrill Lynch Purchase - PR Newswire (press release)
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Banking industry transformed as deals close (The Globe and Mail) Bank of America, Wells Fargo complete takeovers of Merrill and Wachovia.. | ||
UBS sells stake in Bank of China - RTT News
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20 pct securities firms predicted losses in investment banking . Some 20 percent of security companies in China expected that their investment banking business would suffer losses this year, according to a survey result issued by the Securities Times recently. The Securities Times conducted a survey ... | ||
Bank of America Completes Merrill Lynch Purchase (PR Newswire via Yahoo! Finance) Bank of America Corporation today completed its purchase of Merrill Lynch & Co., Inc. creating a premier financial services franchise with significantly enhanced wealth management, investment banking and international capabilities... | ||
10:10 Economy: 2008 In Review - WIFR
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Information Arbitrage: Citi to Integrate Corporate and Investment . Citi to Integrate Corporate and Investment Banking - 10 Years Too Late. Citigroup is creating a unified global banking group? This is almost a joke - talk about anti-climactic and too little/too late. I wrote about this very issue two ... | ||
Zuckerman: Shadow Banking System is Over - NewsMax.com
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Words from the (investment) wise 12.21.08 | The Big Picture Words from the (investment) wise for the week that was (Dec 15 - 21, 2008) EURAmericans have always been able to handle austerity and even adversity... | ||
Hampton Roads Bankshares receives $80.3 million as part of government investment program (Canadian Business) Hampton Roads Bankshares Inc. said Wednesday it received $80.3 million as part of the government's $700 billion bank investment.. | ||
Bank of America, Wells close mergers as banking transforms (Reuters via Yahoo! News) Bank of America Corp completed its purchase of Merrill Lynch & Co and Wells Fargo & Co finished buying Wachovia Corp, the latest sea changes in a transformed banking industry facing dire economic times ahead... | ||
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