Prospects of investment bankers are looking brighter once again, after a record of them were shown the doors during the recently concluded financial crisis of 2008. Though a lot of investment banking institutions are still waiting to make a comeback, yet things have been growing better in this part of the financial market.
So, if you want to make a career out of investment banking, then this is a never-before opportunity to enter the profession.
Is commercial banking different from investment banking
Yes. You cannot expect an investment bank to provide you with car loan, ATM card or open a savings account for you. Actually, these services are provided only by the commercial banks. These financial institutions get their revenue by levying exorbitant charges on loans as compared to the amount they pay on their consumer’s deposits.
Alternatively, investment banks give services as well as acts as financial advisors to businesses and corporations. They assist in the process of mergers and acquisition of different companies, issue securities and give advices to the corporations with respect to their financial requirements. Here, the investment banks make money through service fees and commission charged for their businesses.
Entry level investment banking jobs: Apt time to send in your job applications
The period between November to December is said to be a preferable one as far as sending in your resume is concerned. Although employers take up fresh recruits during the months of January and February, yet you shouldn’t procrastinate for the last moment to file in your applications. However, the key to land up your first job is persistence.
In this case, you may contact as many people as you want, but then don’t send them a generic application. Rather, streamline your approach to each and every employer. This may be a time-consuming affair, though.
What is the status of investment banking in the global economy
Simply put, investment banking is one of the most globalized form of business on the planet. Take for instance, an investment banker may be studying and tracking a particular corporation situated in Los Angeles or San Diego, but then that very day he/she might have to work with investors from the other part of the world like Singapore or Beijing or may be Pretoria.
Type of employer you should choose for investment banking analyst jobs
One of the most important things to have a high flying career is to choose your employer very carefully before you make the jump. This is because if you switch jobs too frequently, then your prospective employer may get doubtful about your loyalty. There is an investment banking major who has a policy that prevents it from getting fresh people from outside. This has been done to avoid hiring career jumpers and people who rank low on levels of loyalty.