More often than not the reason people become investment is money. Investment bankers make way more money than any other professional. According to Comparably, the average salary of an Investment banker is $82,500, while most professionals in the finance sector tend to get comparatively less. Note that this job might pay a lot, but investment banking is one of the most demanding jobs and it can get very stressful. In a lot of cases, bankers have to sacrifice personal life.
In fact, a career in investment banking can be quite demanding. Number crunching isn’t easy at all. Working with numbers all day can get on nerves. The major reasons one can opts for a career in investment banking are:
Prospects of making good money is great in investment banking. For this reason, many career switchers and graduates venture into this. Even at entry level roles, investment bankers attract hefty paychecks and luxurious perks.
The lifestyle of bankers portrayed in movies and tv series is another motivation for people to choose a career in investment banking. The shown lifestyle isn’t attainable in the beginning of the career, as one progresses in their career, bankers can be treated to a luxurious lifestyle. International holiday and cruise trips are common. Staying in 5 and 7 star hotels often a reward for achieving targets.
Other than these, handsome quarterly and half yearly bonuses are there. All this does make a career in investment banking look desirable.
3. The Pride:
Investment banking is challenging and it is not everybody’s cup of tea. Almost everyone admires investment bankers –be it relatives, family, friends. So it is not just the luxury, it is also garners respect from everyone who is part of the circle of investment banking professional. While money is good, respected attracted by bankers is good too.
Investment banking is a stressful job, but it also gives you that adrenaline boost. You have to be on your toes all the time. Unlike most mundane office jobs, this one is suited to people who can thrive in high paced environment. Most investment bankers choose to switch to a different role after sometime. They, however, enjoy the adrenaline filled work environment as long as they are there.
5. Genuine Inclination:
Some people are interested in investment banking for money, but there are folks who are genuinely interested in this field. Finance as a career option is happening and that’s where all the buzz is. So a lot of people who are interested in finance. Of all the roles in finance, investment banking is the most attractive one.
6. Go up the career ladder:
Some people choose to be an investment banker, so that they can add it to resume. Senior positions like.
CFO can require experience as an investment banker. So a lot of graduates choose to begin their career in this.
The bottom line:
There’s no specific reason as to why people become investment bankers. Circumstances and other things can lead to a career in investment banking. But once someone is in, it’s best to make the best of investment banking career.