I am currently a senior at a state university (will be graduating in December 2007) with around a 3.4 GPA with an undergrad in Finance/Economics. I am extremely interested in a career in investment banking or securities trading.
Does anyone currently work or know someone who works in these fields? I needed some information about the position responsibilities, education requirement, pay scale, difficulty of entry, etc.
Thank You.
2006-09-24 10:38:05 · 1 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
I've worked in the industry for about 8 years.
It's a well paid job, usually 6 figures. But it is a very short career. Very few people make it to their 40s in this industry, and there is a lot of health issues.
If you want to be an investment banker, the entry difficulty is extremely difficult. SChool marks are irrelevant as there are a lot of great investment bankers who aren't University educated. A good investment banker has a great research staff and is ruthless and can take the metaphorical punch. YOu are beaten up by your bosses because you have to make them gazillions of dollars, and you get beaten up by your clients because you have to get them the most money with the least fees. IT is a lot of long days and nights. Most marriages and relationships are in shambles or non-existant. But a good investment banker with great closing skills can make several hundred thousand dollars a year after 5 years or so.
If you want to be a securities trader, the income is less, but the stress loevel is there. Your responsibility is to sit in a room and trade stocks, aiming to ALWAYS get the best price. It is fast and furious and the length of time in the job is just a few years or so. Again, it is not easy to get into and the burnout rate is high.
I am a lawyer for an investment firm on Wall Street....a much better choice :)
2006-09-25 05:27:57 · answer #1 · answered by Trevor R NYC 3 · 1⤊ 0⤋