Why Investment banking? Get inspired

Hello Monkeys:

If you are in the process of learning about investment banking and sell/buy side analyst's role, job descriptions, salary range and finally exit opportunities. Then Investment Banker Monkey is your one-stop shop. Hope you found it useful.  

1) Get inspired

2) Gather your tools:

3) Set up your goals 

4) Go Go Go

5) Monkey's takeaway

1) Get Inspired:

We all know how does google work, right? So simple you type in "how to make an apple pie" and Investment Banker Monkeys pumps up. Wooha. Does not work this way, my point is since you are here I am assuming that you have some sort of  interest in asset management industry, accounting/finance/business background and some post university work MBA, any kind of related internship, work experience or professional certificate (CFA, CPA). Having said that, to land a job in this industry like a pro you need to start as a pro.

What does that mean? How can I beat the average job seekers? How hard is it and what does it take? Well let me tell this, all it takes is a passion and an idea, a dream we can follow and reach, so monkeys cheer up look to the sky and dream that you are going to be an investment banker who bring home easily 100k a year. Yes, we can do it.

Fake it till you make it; to outstand your peers you need to have a 5-10 mins of soiled reasons and ideas about why investment banking and what is the outlook for the industry what makes you a good fit for this firm and all these crazy fire questions

See a sample https://www.youtube.com/watch?v=3AEmQvAzvRg

So start off by educating yourself about different position in the industry for example: Portfolio Managers, Buy Side Analyst, M&A Analyst, Venture Capital Analyst and Sell Side Research Analyst. Consider some books such as "How to Get an Equity Research Analyst Job” by Gillian Elcock. This is a very useful book here are some pros and cons:

Pro: 1) Short book and the author gets straight to the point, 2) well organized, you can actually search and find any topics so easily. 3) Include a lot of useful links and information which will help you pick up some lines for interview questions and headhunt strategies, if you are working on a hedge case this book is  great for you.

Cons: focus more on buy-side, 2) not useful outside the industry and require a high level of financial modeling and statement analysis skills. Below is Gillian talking about his view of the industry:

In my view, the long term outlook for the industry is quite favorable. Asset management is a very profitable business, with high margin and returns, and there has always been a real demand from investor for expertise in how their money is managed. There has been talk of fees in the industry coming under pressure and there is always some risk of that however the outlook for the demand seems favorable. As many of the large emerging economics continue to develop and industrialize, their need for investment management service is likely to grow.

Consider also http://www.mergersandinquisitions.com/ it’s one of the best free website I have ever seen in my life just search any topics and you will be happy!!

2) Gather your tools:

So now you have a better idea of what kind of analyst you want to be, and how your skills and knowledge best fit your potential employer’s need. If still not sure yet try to invest in “what color is your parachute” don’t spend too much time on it though just do whatever you feel that you need to do. For example, if you are an MBA gradate with a candidacy in the CFA program and have 3yrs banking experience so obviously the exercises in the book will be much easier for you since you are halfway through your road and all you need are some help and guidance on which sector or what kind of financial professional I am? See a lot people out there can’t say that. The book also will help you in developing a job search strategy and figure out where you want to work and with who?

3, 4) Set up your goals and Go;

After finding the best title that fits your need and drafting a cover letter and a resume see examples: http://www.mergersandinquisitions.com/investment-banking-resumes/

You are now on your own to find your dream job, so get tuned for next:

1)    Write down AT LEAST two job search strategies, (online applications, and cold calls) (online applications and information interviews) (staffing agencies and online resume distribution)

So why you need two of them, because having two strategies will give you first more hope and hope is something you badly need specially now, and second will by far increase your chance of finding a job.

2)    Get a Linkedin profile see tips on this : http://mashable.com/2013/11/17/linkedin-tips-2/

3)    Consider pitching a stock here is a free online videos : https://www.youtube.com/watch?v=bsJYOTgDoZA      

4)    Use google to find an overseas opportunities (hedge yourself)

5)    Wait, repeat and be persist.   

In conclusion; trust me once you pass the first step you have a tons of new and exciting information that will help you develop your own strategy and maybe starting your own blog one day just like me. Read Read Read and you will find all you need online and for the most part free. Please feel free to e-mail me back @ majddola@gmail.com with any questions or concerns, stay tuned more coming up next. And that is it for now thanks for reading.