Sunday, 14 Apr 2024

Does an MBA Help Breaking Into the Investment Banking Industry?

Investment Banking Job

Becoming an investment banker at a multinational financial service firm like Morgan Stanley, Goldman Sachs, or Bank of America is every finance graduate’s dream. The question we are discussing over here is whether an MBA helps achieve that dream?

According to the experts, Yes. An MBA from a top business school certainly increases your chance of securing an investment banking job at a reputed firm.

As a matter of fact, any MBA program that has got business studies incorporated will do. Of course, an MBA major in Finance would be perfect!

Top Investment Banks Hire Mostly from Elite Business Schools

There is a trend of hiring MBA grads from top b-schools among the reputed investment banks. While any individual from any business school can make it, the preference is always given to graduates of top B-schools. Amid the intense competition for entry-level investment bank jobs, getting noticed is really difficult, unless you come from a renowned university, or a business school.

Is It Possible to Bag an Investment Banking Job without a Degree in MBA?

Former and current investment bankers say, it is completely possible to land a job in the investment banking industry without a degree in MBA. In fact, they believe that many investment banks globally, hire analysts from reputed undergraduate colleges each year. At the same time, they warn undergraduates who don’t get an opportunity right after their course completion, to be ready for the gruelling struggle that awaits.

In such cases, they advise enrolling into an MBA program, or take up an investment banking certification online. A certified investment banker always holds an edge over his competitors.

It’s Better To Choose an Undergraduate Degree Course That is Business-Specific

If you are eyeing a coveted investment banking job role right after completing your undergraduate degree program, better choose a course that teaches concepts related to business. It will significantly boost your chances of bagging an investment banking job real quick. Or else, take up an MBA program in either finance, or some related study domain.

Your Best Chances of Securing an IB Job Are Right After College or B-School

The right, or appropriate time, to enter the investment banking sector is immediately after completing your degree, whether in an undergraduate program, or in MBA. However, for those, who work outside the investment banking domain after completing their formal education, an MBA would be the best shot to get your foot in the door.

The Incomparable Benefits of Getting Your MBA from a Top B-School

Attending a top B-school provides you with unparalleled benefits in terms of gaining a significant edge over competitors. But, more importantly, it offers you ample networking opportunities with industry experts and recruiters. And, it’s a given that the journey becomes easier while seeking to break into the industry, when you know the “gatekeepers”.

Investment Banking Job Outlook in 2020

Competition for entry-level jobs in the investment banking sector is fierce, as the profile is considered highly lucrative. Besides, an IB job role guarantees a privileged work life, and permits you to opt for a luxurious lifestyle. The other reason for the increased level of competition in the domain is the highly volatile nature of the industry, and instability in the financial markets. These factors combined, makes cracking an IB job interview even tougher.

Concluding Words

Besides the evident pros of the sector, such as glamorous lifestyle, high-pay, incentives, and perks, the cons too, are big. If the markets tumble, there is every possibility of you getting laid off from the job. If you enter the domain, be ready for some high-pressure work situations, and the related irregularity in your work-life.

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