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What to do to prepare to become an Investment Banker?

admin — Mon, 15 Nov 2010 18:38:37 +0000

I am in still in high school and i am interested in investment banking. I just wanted to know what i should be taking to prepare to become an investment banker. And are there different jobs within investment banking?

By: Cole

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What type of experience should I get in order to be an investment banker?

admin — Mon, 15 Nov 2010 03:21:10 +0000

also is there alot of opportunities or atleast an okay amount of opportunities to be an investment banker and make good money? what type of jobs should i seek in order to be an investment banker?

By: flipondizmission

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How many years would it take a Investment Banker to Make A Million after business school and a investment bank

admin — Fri, 13 Aug 2010 13:38:29 +0000

How many years would it take a Investment Banker to Make A Million after business school and a investment bank?

By: Gregorio B

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Investment Banking Salaries

admin — Fri, 13 Aug 2010 13:07:48 +0000

Just how much do investment bankers actually earn? Most of the people who want to break into investment banking have no idea how much money is really involved.

Sure, the Managing Directors and other senior people make several million a year on average; group heads can make $10 million or more. And the CEO of an investment bank can make upwards of $20 million, with Goldman Sachs CEO Lloyd Blankfein making over $70 million in 2007.

But what does an entry-level investment banker – an investment banking analyst – actually make?

Making six figures as a 23-year old just out of college is nice, but if you have to work 120 hours per week, you can’t possibly be making that much per hour, right?

I honestly didn’t know, so I had to investigate this and do some math myself.

Could you actually make more working at McDonald’s than you could at Goldman Sachs, at least on an hourly basis?

Best Case Scenario

For investment banking analysts, the best case scenario ever happened in 2007. Base salaries were $60,000 and bonuses were $90,000, for a total of $150,000 in compensation. Again, not bad for a 23-year old’s first “real-world job.”

But what about the hours? Typically, entry-level bankers work around 90-100 hours per week in their first year. This could be off by a bit, but we’ll go with it for now.

With 52 weeks of work per year (nope, no vacation) and 90 hours per week, you would have earned $32.05 per hour in the 2006-2007 year. If you had worked 100 hours, that would have dropped to $28.85.

Even if you had worked 140 hours a week, every week, you would still be at $20.60 per hour. And realistically it’s impossible to work that much consistently, so you could have only done better than that.

But times have not always been that good. After the dot com crash and at the start of the last major recession, investment banking took a turn for the worst and bonuses disappeared.

The Dark Ages: 2001-2002

In 2001-2002, Analysts were lucky to get $10,000 for their bonuses. They still worked a lot, but mostly on marketing and pitching clients rather than doing deals and bringing in revenue.

A $10,000 bonus and $60,000 salary means $14.96 per hour at 90 hours a week. Believe it or not, that’s still above McDonald’s wages and is actually not even that bad relative to a lot of jobs in the US.

But if you had worked 140 hours per week, consistently, back then?

You would have made 9.62 per hour.

McDonald’s Wages

According to a Wiki Answers page on McDonald’s, the wage is $9.30/hour for those under 17 and $9.57/hour after “4 months of training.”

This is a very low wage, and it looks like even in the worst possible years of investment banking, hourly analyst wages never dropped this low.

The Absolute Minimum

Actually, the above is not strictly true. What if you earned $0 for the bonus and only made the base salary of $60,000 while working 140 hours each week?

That would be $8.24 per hour. Finally: below McDonald’s wages.

So theoretically it is possible to earn less than a McDonald’s worker as an investment banking analyst, though not terribly likely.

It could only happen if you worked a ridiculous amount in the very worst years of investment banking and got absolutely nothing for your bonus.

Even with a looming US recession, this scenario seems unlikely to return anytime soon. So your hourly wages as an investment banking analyst should be safe.

By: Ian Spellfield

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Ian Spellfield, a former investment banker, advises students and young professionals on understanding investment banking and how to earn high investment banking salaries

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How do i become a investment Banker? What college do i need to go to?

admin — Thu, 22 Jul 2010 21:56:16 +0000

I am interested in Becoming a investment banker. I am wondering if i need a post college school or can i enroll in a four year college and graduate and apply for a job? Also can you reccomend some other careers in the field of Buisness. Highy paying jobs. Also what are requirements for the job and what will help to get the job.

By: Junior B

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What is the difference between a trader and an investment banker?

admin — Thu, 22 Jul 2010 04:16:56 +0000

I am interested in majoring in Business Finance and I am trying to find out about some jobs I could get after college. The two jobs that I am interested in are investment banking or trading (possibly stock trader). So, what are the major differences between the two? Also, are these jobs ones that you could get an internship and do you really have to be in the top schools to get into a good job in these fields?

By: Smurfcatcher

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Marketing Strategies

What does one need to do to become an investment banker?

admin — Sat, 03 Jul 2010 20:17:57 +0000

I’m a finance major graduating in May and want to become an investment banker. Do you need to get a master’s degree to become an investment banker? How much do investment bankers make per year?

Thanks!

By: Virginia

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How would the investment banker assist an organization in going public?

admin — Thu, 01 Jul 2010 03:09:25 +0000

As a CFO, what information would you need to select an investment banker?

By: Halloween gal

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business and marketing

What qualifications will I need to become an investment banker and what does an Investment banker do?

admin — Wed, 30 Jun 2010 19:32:59 +0000

Im just about to pick my GCSE options, and what I really want to do is become an investment banker. But what GCSE/A levels will I need to become one? Plus, what exactly does an investment banker have to do and how much money can one make? Please guys Id really appreicate some help on this.

By: james

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Can i become an investment banker with an entrepreneurship major and computer science major?

admin — Wed, 16 Jun 2010 06:52:04 +0000

I am planning on attending University of Indiana and i am wondering if i could become an investment banker if i majored in Entrepreneurship and Computer science (double major)?

Also, IU has a great group called Investment Banking Network. Does anyone know if i could get into this group without a finance major or possibly even a finance minor?

By: Mark

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