Careers In Investment Banking

Title	Careers In Investment Banking
# of Words	1072
# of Pages (250 words per page double spaced)	4.29

Careers in Investment Banking

Careers in Investment Banking

        Davin Bloom
        English 152
        Reuff, Instructor
        Paper 2
        2/25/97

        A career in the securities industry can offer exciting work if you enjoy
working in a competitive and demanding atmosphere. Investment bankers, stock
brokers, and stock traders all make up the securities industry providing
services to each other, as well as the general public. All of people involved in
this field deal with stocks, bonds, and other financial material in some way or
another, but they all have their own specific objectives and duties. The primary
differences between the three are the services they provide and who they provide
these services to. Investment banking seems to be the most interesting of the
three, as well as the most rewarding. This is due to the nature of the job an
investment banker must perform. A career as an investment banker has its pros
and cons just as any career does, but if you're looking for a high-demanding,
high-risk career that at times is very rewarding financially, investment banking
could be the career.
     Investment banking has been around since stocks have been issued and
bonds sold, but the field demanded little, if any new jobs before the 1980's.
This was due to the low complexity of the financial markets. Since then,
investment banking jobs have been significantly growing due to the  availability
of complex securities and  high-yield  bonds, also known as junk
bonds.(Investment Banking,12) Now that the financial market has become more
complex, companies that didn't require and investment bankers now need their
advice to effectively help their company sell stocks and bonds, and to make
financial plans for the future. This shows the growing need for investment
bankers in the securities industry.
     Investment bankers serve a major part in shaping our nation's economy as
well as the world's. This is done by devising financial plans and putting them
into effect. The process of doing this is very time consuming but doesn't seem a
bit boring. Investment bankers also spend a lot of time traveling to various
clients to present ideas and when at home, investment bankers work on developing
financial plans and strategies for clients. All this work can appear to be very
time consuming, and it is. According to Linda C. (So You Want To Be, 2) a
typical day for an investment banker out of school is to start at nine in the
morning and work fairly consistently until midnight, five days a week.
     To be considered for a job in the securities industry one must be
content living in or near a large city, and have  at least, a four year degree
in some type of business field, typically finance or accounting. Working summer
internships in your chosen field also aids in job finding. If these requirements
are met an investment banking firm will consider hiring the graduate into their
two-year financial analyst programs at starting salaries of $25,000-
30,000.(Morgan, 12) The competition to get into an analyst position is extremely
hard and competitive. The competition to get into the trainee classes at the top
investment banking firms is tougher than becoming an astronaut, according to
Preston Pumphrey. (Pumphrey,2) The typical analyst works mainly on analytical
work and also does a fair amount of writing.(So You Want to Be A,4)  From here
an analyst has the option to either go back to school and pursue an MBA, or try
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