speech on I want to become a investment banker
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My dream job would be to become an Investment Banker, however although the benefits of the job are spectacular so are the drawbacks. Investment Banking is different from Commercial Banking, which is what most people think of when they hear the word bank, commercial banks serve as managers for deposit accounts for businesses and individuals, whereas investment banks speed up the purchase and sales of bonds, stocks and other investments. Investment banking mainly involves “helping companies and governments issue securities, helping investors purchase securities, managing financial assets, trade securities and providing financial advice” (Careers-in-Investment-Banking, 2011). There are many roles an Investment Banker plays in a company. They tend to work from 10:00 am until 2:00 am on a regular weekday (Joule, 2015). For most investment bankers the hours aren’t the problem, it’s the unpredictability of the work. You seemingly lose control over your life and are perpetually on call, a call that you must answer whatever the hour or holiday. Most bankers find it easier not to plan too far ahead for fear of having to cancel at the last minute due to work (Joule, 2015). Investment Banks are usually located in the financial centers around the world, one of the largest being in New York City, around Wall Street and midtown Manhattan. Leading banks today include “Goldman Sachs, Morgan Stanley, Citigroup, Bank of America Merrill Lynch, Deutsche Bank, Barclays, Credit Suisse, and JPMorgan Chase” (The Editor’s, 2012). Investment bankers also have to be willing to take on a considerable amount of risk. A great deal of the training comes from the employers themselves, since investment bankers are meant to be experts in their respective fields, depending on their company, training can vary. Typically, new graduates start out in analyst positions and are required to go through training before beginning their job. “These training programs can last several weeks and introduce new analysts to principles of accounting, risk, markets, financial statement analysis, and financial modeling” (How to become an Investment Banker, 2015). During this time analysts also pick up important skills like negotiation, communication, and presentation. Technically for a an entry-level investment banking analyst position it is only required to have a bachelor’s degree, however in order to be competitive, many investment bankers also attain graduate degrees, the cost common of which being an MBA.