VIEWS: 4 PAGES: 2 POSTED ON: 4/10/2011
?If you are a talented student studying for a degree in a subject such as finance or accounting it is likely that you are already seriously considered a career in investment banking. Investment banking jobs have gained a reputation for offering some of the highest salary packages a new graduate can hope to earn. A couple of years ago a graduate taken on by a leading American investment bank could be making as much as $150,000 dollars a year including expected bonuses, and this high wage was attainable within the first year or two in successful investment banking careers. Many of my outstanding candidates' first jobs were actually where they had their internships. Therefore you need to plan your investment banking career when you are studying for your undergraduate. Aim for an internship at a reputable bank. Make it a goal for your resume to be on the radar screens of every Wall Street recruiting director by December holidays. Trading in i-bank engages in the trading various financial instruments to earn a spread (difference between purchase and selling price) or commission (charge to client in the form of a percentage from the transactions). These financial instruments include stocks, bonds, foreign currencies, commodities, structured products and other derivative products. Being a loan officer is also an option for some. This position involves working with customers to determine their borrowing needs, putting together loan packages for an approval or decline decision. You will have to be comfortable with reviewing tax returns and communicating with clients what determination factors will come into play for a decision on customers risk factor to the bank. Understanding the mindsets of people is the key to asking the right questions and success to life in general. Knowing why different questions attract different responses from different people is crucial. Don't leave it to chance or the mood of the interviewer on that day to decide what to think of you. Take control of your own interview and be prepared. On the other hand, a loan officer's job involves reviewing and submitting reports related to reimbursement and disposal of loans. These bank employees assist potential borrowers with loan applications have to go through numerous stringent measures to verify information related to the borrower's identification which includes contacting employers, credit card companies if any, and previous lenders if the need arises. Normally, banking loan officers sell products to customers, such employees specialize in consumer, commercial or mortgage leading areas. Banks also employ from time to time clerical workers to process transactions and for collections in various departments who have to play the role of receptionists and secretaries. Administrative assistants in banks have to play the role of clerical bank executives. Studies have shown that numbers are much better in catching attention. Let's take this article as an example: do you prefer the title to be "Useful Investment Banking Tips", or the current one: "5 Golden Rules On Investment Banking Resumes"? Most likely the latter right? In case you wonder why, numbers imply precision and give the impression that you are giving solid, detailed information to the readers. Quantify your experience whenever you can throughout the resume and see the difference yourself. One other important thing that one would need to understand in investment banking 101 is practically the most important one, which is the promotion structure. This way, one would be able to set the goals and try to follow the chosen career path the best way that a person could. Fresh graduates armed with a Bachelors degree basically start off as invest banking analysts. From there, once they have completed their Masters Degree program, they would then go on to a higher position as an investment banking associate. Of course, these associates would be able to make more money as well as have a higher rank than simple investment banking analysts. After one passes the associate level, what comes next is the Vice President level, and then this is followed by the Managing Director level. Truly, there is an immense possibility for advancement in the investment banking career. The key step towards a bright future ahead is to get the right education as well as proper training to jumpstart one's career in investment. Companies get annoyed when they come to know you are not focused on the job or are toying with other career opportunities. Investment banking interview questions can revolve around what you think about the strength and weaknesses of the firm and you have to justify your answers with proof and facts. For Internet and seminar banking trainings, here are tips that will help you choose a program. First, choose a program that best fits the job you are aiming for. Pick a program that is time-flexible, which allows you to customize class schedules, a very practical option especially for college students who are looking for part-time jobs at banks. And lastly, comparing different training programs provides for the most affordable course fees. Read About Career guidance and also read about accounts management and banking career
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