Landing a job in the finance industry can be both lucrative and competitive at the same time. The industry is likely to experience extreme cases of ups and downs in the global economy. Besides the finance industry, there are other industries as well where you will find most graduates prefer getting into. But, the finance industry is one such place where fresh graduates can make millions by the time they reach mid- 30’s.
The investment banking (IB) industry is one such field where aspiring banking professionals are keen to get into. The industry works closely in raising capital, mergers, and acquisitions, or aid government or corporations in making financial decisions.
However, before moving ahead, there are certain factors you need to keep in mind such as:
Prep up for quant interviews
Quant interview or quantitative interview – is essential to test the individual’s abilities and skills. To get into the IB field, the individual needs to get through the quantitative test to prove their capability. The employer can ask any questions such as to evaluate a financial statement or it may be any random, irrelevant question to test your problem-solving skills.
Not limited to finance majors
Though professionals in this field must have good finance knowledge, the candidate doesn’t need to have a degree in finance just to enter the banking industry. You will find firms that are quite excited to hire candidates who have fare well in computer science or have good experience in coding. Not to mention, the industry today relies more on technology. Therefore, employers don’t mind hiring candidates from a computer science background.
Look for jobs in the 4th Quarter
It is said that the best time when employers hire is during January and December. Therefore, sending out resumes in the fourth quarter is a great time to start interviewing and applying for jobs. Seeking banking professional jobs in November and December will likely land you a lucrative job in January or December. This gives you enough time to build a connection and choose opportunities in banks you wish to get into.
Bountiful international job opportunities
Although different countries have different culture and currency, money and spending are common. Every country will still trade and invest in each other, thus, the industry will likely progress. Also, if you’re interested in traveling and maintaining foreign relations, this industry might just be the perfect choice for you.
The bad behavior is going to get better
Most often we see Hollywood movies where the picture painted of Wall Street isn’t how it is. Although corruption is considered unethical the behavior seen in movies is often exaggerated. And the IB firms are going to change that thought. In the present era, we now find that most banking industries have started operating with a zero-tolerance policy in terms of unethical behavior.
Loyalty has a value
The IB industry does not encourage job-hopping. They’re more interested in hiring candidates who are loyal and hardworking. Therefore, landing your first job as a banking professional is crucial. If you’re able to find a relevant job and firm, you can gain skills and experience. Once you have an extensive skill set and experience, you can move up your career ladder.
The industry is resilient
The economy has surely taught us one thing, the IB industry is the principal part of the economy. Although the industry has several setbacks it is unlikely to fall. The industry has been here with us for a while now and it isn’t going anywhere.
It is always an ideal time for any aspiring investment banking professional to start preparing for jobs in the IB industry. And with technology growing at a rapid pace, jobs in this industry are likely to increase.