any investment banking guys here?
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Khanzada and a couple of others... ask away & I'm sure someone will reply.
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what exactly does these investment bankers do?
a little detail please... :)
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they deal with investment funds, securities, fixed income, derivatives etc
dont confuse this with normal retail banking!
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did i say something wrong? 
anyway i will complete 3 decades of my life later this year.
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Nah just checking...before i reply appropriately.
DO you want to know about investment banking or investment banking IT?
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so is there any particular degree required for it or one can get in to this field with a B.COm and an economics background.
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^^ One can certainly go in with a B.Com / BA / BS … the preferred majors would be Finance, Accounting or Economics. Let me warn you though that the recruiting process for investment banking is one of the most competitive in any industry, and more now than ever, an MBA is required for even entry-level analyst positions.
Also, the hours at work are simply gruelling! 100 hour work weeks tend to be the norm. There’s also usually a six to eight week training period and qualifying exams that you write at the end of that period. During this time, you would typically learn in-depth analysis and modeling techniques and you would be introduced to the client management process within that organization.
On the positive side, most people who succeed can start earning a six-figure salary within four years.
Just from my interaction with colleagues I studied with, at the MBA level, the organizations preferred candidates who had taken courses in one or more of Corporate Finance, Mergers & Acquisitions, and Merchant Banking.
Well, this is all I can tell you from my initial research when I started thinking of going into the field (since I had a strong proclivity towards Finance and Mathematics) but then again, I wanted to continue in I.S. so didn’t take that alternative.
b.t.w. Shak... are you asking about I-Banking in general or IT? Your thread title's kinda confusing.
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Thanx Umar for the information. I am taking courses in Finance and they are pretty hard with all the complex formulae and theories. So this means that i have an option open with a B.Com degree for this route.
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Investment banking IT is generally considered back office work and thus you don;t need to be graduating from a top-20 school to get a job there. But it is still competitive.
Investment banking can be divided into two worlds. Corporate Finance and Capital Markets.
I can give you accounts of Mergers and Acquisitions, as that is what I do. It lies within corporate finance.
Most people who work in this field at bulge bracket banks, 99.999999% of the time come from top-10 schools as undergrads. They go through a rigorous training program, which includes all the regulatory licensing requirements along with subject matter examinations as part of training. (some of which Umar hinted above). They are called analysts. Analysts typically work over a 100 hrs a week, are renumerated handsomely for their work and learn the art of positioning numbers.
After two years..they are expected to leave and only a handful of guys are asked to do a third year.
Most go on to do their MBA's. Chances of them getting into a top-10 school is again 99.99999%. They usually have finance or strategy as their concentration.
Upon graduation, they go back to either industry in their strategy or corp fin departments or go back into Banking. Where they work 80hrs a week, make good money and have analysts who work for them. After three or four years they either move up to VP or go on to other adventures. The greatest skill gained here is the art of the deal.
The career path is usually as follows:
Analyst->Associate->VP->SVP->MD
while most bankers who stick it out end up becoming VP's. Very few en dup becoming MD's.
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Mati, I was thinking to jump into investment banking IT sector in city. my past 8 years experience is mostly in govt, telecoms, e commerce, very few in banking sector IT.
So I was just wondering about any guys who are already involved in this.
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^ Verizon and Akif I think
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looks to me like 100 hrs/week is a normal routine for these tough guyz...i hope the compensation is good as well.
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^^ bhoot yaar, meri post nahi parhi...
like I said, its very common for a successful IBanker to reach six figures within four years.
The starting average salary for an Analyst in the U.S. was around $48K USD from a stat from last year.
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Bhoot, the salary is inversely related to the hrs you put in as you move up in the career. Avg. Analyst salaries in NYC bulge bracket banks. Start at around $55K+bonus, which could be up to 120% of your salary. Salary in banking is a relative term.
there is no 4 yr plan as Umar suggested.
VP usually make around $250K a year...but their bonuses can be up to 4 times the salary depending on deal flow.
In I Banking IT, there is no straight career path. People usually want to keep moving to the front office side of things if they start out in IT. They generally move towards general ops then middle office like Risk and financial ops and finally towards supporting front office apps.
I think the guys I mentioned above, Verizon or Akif, can give you a better perspective on the IT side of things.
One of the best ways to combine tech savvy and financial knowledge and make a good salary is to get into Quant trading environments. Guys usually work form 8-5, base arounbd $200K and then bonus depends on what the desk gets.
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[quote=“Matsui”]
Bhoot, the salary is inversely related to the hrs you put in as you move up in the career. Avg. Analyst salaries in NYC bulge bracket banks. Start at around $55K+bonus, which could be up to 120% of your salary. Salary in banking is a relative term.
there is no 4 yr plan as Umar suggested.
VP usually make around $250K a year…but their bonuses can be up to 4 times the salary depending on deal flow.
[QUOTE]
dude… I didn’t say it was a certainty - but only what market stats say… its not uncommon - that’s all I said.
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It is not only not uncommon, it is a foregone conclusion that people in Ibanking after 4 years, which means 2 as an analyst and post graduation from B-school, will end up making 6 figs.
In IBanking iT, it might take a sys admin, 12 years to make 100K. Techology is a horizontal skillset therefore a commodity. Anyone can do it.
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investment banking 
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^ waleed if I see you again on gupshup until you pull your grades up, I am going to personally come to the UK and biTchslap you. Go study!!! 