Investment Banking Analysts
If you are interested in the high powered world of investment banking, then you should prepare yourself for a career as an analyst. Investment banking analysts are usually undergraduates preparing to get their MBA and move up in the company. They usually work for a period of two to three years before doing this. Before you can even become an analyst, you must complete your Bachelor's degree program and go through an internship prior to your senior year. One reason for this is because many recruiters hire analysts that once interned for them.
You should be someone who enjoys using a computer because many analysts spend hours at these machines. They often work at home and work all nighters when necessary. Their duties include editing pitchbooks, creating comps and building models. More experienced analysts may put together pitchbooks, while some work their way into more exciting duties such as live transaction type meetings. The job duties can vary but one thing is certain, the hours are often long and tiring. Your day may start at 9 am and end after midnight, although some days can be slow.
Analysts must be proficient with Excel spreadsheets and know how to write VBA macros. They must also generate and track regular newsletters, make prospectuses, run errands, get pitch books, answer client phone calls and more. They must be hardworking, dedicated and flexible. After two or three years the average analyst returns to pursue their MBA and may or may not return to the world of investment banking. Former analysts with MBA degrees have the edge over the competition who did not work in this field. Being an analyst is like earning your stripes in the financial world.
To become an analyst you will need to major in the right area. You should also consider applying for an analyst training program which are available from many major schools and companies. Piper Jaffray has an extensive two year program who are preparing for an undergraduate degree. Some programs are substantially shorter than this one. They can be very competitive as there are a limited number of spaces available. Most graduates of these programs are placed in analyst jobs after graduation.They give you an advantage over other students and interns who have not completed a specialized program.
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Citigroup to merge corporate, investment banking-source - Reuters
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UBS Further Slims Down Investment-Banking Arm - Wall Street Journal
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Deutsche Hires Ex-Goldman Banker Takushi Abe in Japan - Bloomberg
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Storybook year ends in economic nightmare - Calgary Herald
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Midwest Banc Holdings, Inc. Announces Fourth Quarter 2008 Earnings . - Earthtimes (press release)
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'There will be more deals in the mid-market space' - Business Standard
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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... | ||
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American Apparel Shares Hit New Low as It Names CFO - Wall Street Journal
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