How You Can Land Job With a Large Investment Banking Salary

How You Can Land Job With a Large Investment Banking Salary

Steve Faber

Investment banker; sounds good, doesn’t it? Not only will you have the respect of your business associates, family and friends, you’ll receive a pretty hefty salary to go along with it. Investment bankers’ average salary in private employ is just over 0,000 per year. Of course that varies by city and experience in the investment banking field. The salary however, is just part of the typical compensation package.

In most cases, investment bankers will also be earning a combination of bonuses, commissions, and/or profit sharing. The combination of these other compensations can easily add up to another 0,000 annually and averages about ,000… Entry level analyst positions still command salaries in the ,000 – ,000 range, plus other compensation. You can expect a nice benefit package in addition to the compensation package. The benefits will include the normal benefits, such as medical and dental, but can also include such niceties as free garage parking, health club membership, golf course membership, and box seats at the Garden! Not only that, but you be able to attend some great events that money can’t buy, such as exclusive parties and openings.

How do you land such a prestigious position and command such an attractive compensation package? In most cases, you’ll need the requisite schooling, such as an MBA with an emphasis in finance or accounting. Law school graduates and persons with advanced scientific degrees are also in high demand in the investment banking field. As in many other fields of endeavor, people skills are vital. One key skill of successful investment bankers is the ability to bring together many different, high powered personalities, and pull off a successful presentation. These professionals often have strong wills and ideas, so if you can bring them together successfully, your career success in investment banking will be all but assured.

What else is required to earn a high salary in investment banking? You should be an excellent communicator. Individuals with both written and verbal communications skills are handsomely rewarded by investment banking firms. One attribute that can not be overlooked is the desire to work hard. Those that climb the ladder in investment banking often find themselves working 100 hour weeks. If you are to earn the salary in this field you desire, be prepared to do likewise. Your employer will expect you do so, and you will be rewarded in kind.

One other requirement; you should love New York. Hong Kong, or London. That’s where the majority of good opportunities in the investment banking industry will be found. Even if you are not based there, chances are your firm will be, and you’ll be called upon to travel there frequently.

If you want to land a high salary position in the investment banking world, you should have what employers are looking for; excellent people and analytical skills, a solid educational background, and a desire to work tirelessly for success. If you bring these attributes to the table, a large salary and bonus structure will soon follow.

Due to the prestige and high salaries commanded by investment bankers, competition for investment banking positions is fierce. You must nail the interview to get the job. It will be one of the most high pressure situations you’ll ever find yourself in. You can do it, if you are prepared down to the last detail. Discover how to Prepare for an Investment Banking Interview

investment bank analyst