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Any investment bankers? Need careers advice

(3 Posts)
wanttobeabanker Mon 21-Aug-17 10:32:02

Hi, I'm currently a Psychology student going in to my second year and interested in a career in Investment Banking.

I go to a no target, no Russell group university. I think its around 30th in the league tables and I got in on an access course in Science. I'm also 25 years old, with a 20 month old (if that's relevant at all).

How can I get in to investment banking?

Where do I start? Reading The Economist and The Financial Times to keep up with the economy. Anything else?

What about extra curriculars at university? There is a Trading & Investment Society that I could join, maybe I could run for Marketing Officer. Also this society runs a portfolio management course, advanced excel training and a Bloomberg training course. Worth doing?

Should I join any other societies or sports clubs and try to become captain?

As I don't have great A levels (DDE) but a good pass on my Access course, should I try and aim for a first on my Psychology degree, I believe I'm capable of getting a first. I received a high 2:1 in my first year.

Would I be taking the right steps to enter into IB? smile

wanttobeabanker Mon 21-Aug-17 10:32:43

non-target, non Russell group that should say

Cantseethewoods Mon 21-Aug-17 11:49:10

Why do you want to be an investment banker, other than the cash, and which particular area interests you - trading, broking/research, sales, corporate finance etc?

It is an incredibly competitive field and I have to be honest to say that in this environment you'd be unlikely to get through initial screening with your grades. There are exceptions but they tend to be people who have shown exceptional commitment and interest in the field (i.e. have been actively managing their own portfolios for years whilst at Uni etc. or people who have otherwise demonstrated through their actions a real talent for understanding financial instruments). Also, there's increasing competition from overseas students, particularly those from Asia.

It's also very front ended in terms of hours. Unlike law, where partners still work crazy hours, managing directors in investment banking often have quite a reasonable life-work balance if they're not transaction focused, but the early years (the first 15) are brutal. Unless you have very reliable 24/7 childcare it would be a struggle - you don't say what your DP does so if he were a SAHD or had a 9-5 then you could manage it.

It's also very insecure. The sector has been cut continually from 2008 and the redundancies are constant.

My advice would be to apply for summer internships and see if you get any interest - that will probably tell you what you need to know. Increasingly the graduate places go to former interns.

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