Investment Banking in New York

Overview of Investment Banking in New York City

Investment BankingInvestment BankingInvestment banking is a specialized banking stream that facilitates the business entities, government and other organizations in generating capital through debts and equity, reorganization, mergers and acquisition, etc.read more is a part of broad banking and finance-related activities related to the creation of wealth for institutions, individuals, government or corporates. An investment bank offers a lot of services to its clients. They employ professionals from top universities with an attitude to succeed.

Investment banking functionsInvestment Banking FunctionsInvestment banks perform various functions for their clients, including initial public offerings (IPOs), mergers and acquisitions, risk management, equity research, structuring of derivatives, merchant banking, and investment management.read more in New York can be classified as below:

Investment Banking in New York

You are free to use this image on your website, templates etc, Please provide us with an attribution linkHow to Provide Attribution?Article Link to be Hyperlinked
For eg:
Source: Investment Banking in New York (wallstreetmojo.com)

Investment banks are at the center of finance. They are involved in some form or the other in each financial transaction.

Recruitment Process in Investment Banking in New York City

The recruitment by investment banks in New York City is of two types – On-campus and off-campus. The structure and procedures for the two types vary. On-Campus recruitment is when the companies visit the B-schools and hire candidates. It is more structured and the best way for candidates to get hired by Investment Banks.

On-Campus Process 

  • The first step will be to submit the resume.
  • The investment banks in New York City will shortlist potential candidates and call for an interview.
  • The interviews for all candidates will be scheduled on a day given by the University Placement committee.
  • Typically, 1 or a team of 2-3 investment bankers will interview the candidates and grill them on various technical and soft skills.
  • Potential candidates are then shortlisted for the next round.
  • The next round called the “Superday” is the final round which may involve a series of interviews with the analysts, associates, VP, MD, or Director.

Off-Campus Process

  • In off-campus recruitment, it becomes difficult for candidates to get an interview call.
  • The investment banks get thousands of resumes every day for job openings. Thus, the best way is to apply through an employee referral.
  • Once the resume is shortlisted, investment banks will call for the first round of interviews which could be either face to face, telephonic, or video conferencing.
  • Next, if the candidate is shortlisted after the first round he will be called for the final round which will be similar to ‘Superday’ process of on-campus recruitment. The candidate will have a series of interviews with bankers at each level.
  • The recruitment process varies from Company to Company. The mentioned process is somewhat similar to that commonly observed between investment banks in New York City.

There are some traits an investment bank recruiter looks into the candidate. While college GPA and related courses are important but they do not help much in the interview. They highlight the candidates’ resume and help them get shortlisted for the investment banking interviewInvestment Banking InterviewThe purpose of this Investment Banking Interview Questions and Answers is simply to help you learn about the investment banking interview topics.read more.

The interviewer is mostly an investment banker with years of experience. They look for people with a winning attitude along with knowledge about finance. The interviewers evaluate the candidate on various skills like leadership, technical skills, motivation to be an investment banker in New York, etc.

Culture of New York Investment Banks

Investment Bankers in New York work typically work for 80-100 hours per week. Sometimes they need to work on Saturdays and Sundays. Most of the times the employees only work on a cup of coffee and don’t get time to eat the proper meal. Most of their time is consumed by research. This is why the recruitment process of investment banks is gruelling and they try to find the right person for the job with the right motivation.

But personal motivation is not the only factor that keeps an employee go. The employees are motivated to take high risks for better performance. This is because their long-term and short-term goals are mapped to compensation and bonuses. Such an alignment of goals would make them take high risks for short-term profits.

Salaries

Investment banking is one of the best paying industries in the market. The salaries vary with skills, knowledge, and experience.

As per one of the career portals, indeed.com – an average salary of an Investment banker in New York is $ 116,578 per annum with the range between $ 24000 – $ 280000.

Glassdoor based on a survey reports an average salary of investment bankers in New York of $ 97,145 with a range between $81000 and $114,000.

Investment Banking in New York salary

Source – Glassdoor

Exit Opportunities

While investment banking in New York offers good compensation but the working conditions are stressful with long working hours, tight deadlines, and too much peer competition.

Thus, most of the people work for 3-4 years and look for the exit opportunity. An investment banker has the following exit opportunities:

Conclusion

While investment banks are lucrative but they come with stressful, long working hours and risk-taking corporate cultures. It is not for everyone to be on their toes every time and make deals in tight deadlines. People should weigh the pros and cons before making a career in investment bankingCareer In Investment BankingAn investment banking personnel is a motivated professional who aims to help their clients reach their financial goals and objectives. The top four investment banking careers are - Analyst, Associate, Vice president, Managing director. read more.

Recommended Articles

This has been a guide to Investment Banking in New York, their services offered, recruitment process, their culture, top Investment banks in New York City, salaries, and exit opportunities. You may also have a look at the following article for learning more about Investment Banking –

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *