Investment banking is a highly sought-after career in the financial sector. The benefits and perks offered by investment banks are one of the best in the industry.
Compared to any other roles in the financial services sector, investment bankers enjoy an elegant lifestyle. High salaries and frequent foreign vacations are popular benefits among the masses. Others are less popular. Given the demanding work of investment bankers, these perks are justified.
Unlike other roles in finance, investment bankers make a direct impact on the revenue of companies, which further translates into their compensation and sponsored vacations.
Looking at this prospect, many professionals in the financial services sector are turning to investment banking roles and pursuing investment banking certification.
The Series 7 certification is another vital qualification for professionals in the banking field. It’s designed to assess the knowledge and competence of individuals who wish to engage in the sale of securities products, including stocks, bonds, mutual funds, and options.
To prepare for this rigorous exam, aspiring candidates can benefit from utilizing valuable study resources such as Series 7 practice questions by Career Employer.
These practice questions provide a realistic simulation of the actual exam, allowing individuals to assess their understanding of key concepts and identify areas that require further attention.
Apart from a handsome salary, the following are some lesser-known benefits that you will enjoy as an investment banker.
1) Versatile skillset
Investment bankers possess a highly desirable skillset. Knowledge of capital markets and comprehensive knowledge of stocks, equity, mergers & acquisitions.
With this skill set, they fit the role of almost every professional in the finance sector and are eligible to move to any role.
Most employers are open to hiring investment bankers, as long as they fit their bill and possess the necessary skillset.
An investment banker is never short of job opportunities.
2) Fast career growth
Investment bankers grow faster in their careers compared to other professions.
Most investment bankers after 2-3 years of experience open their own consulting businesses or become partners in hedge funds, VCs, and other financial institutions.
A very large percentage of investment bankers become independent investors and continue to make money by investing in other businesses.
3) Working with smart people
Investment bankers are tasked with the responsibility to help high net worth individuals make investment decisions.
Most of them are business owners, business tycoons, industrialists, and heirs to a big fortune.
Communication with these people and the opportunity to work with them helps to hone skills and inculcate better habits and foster personality.
4) Gardening leave
This is available to all professions in investment banking. Before switching from one financial institution to another, analysts, VPs, and MDs get between one to six months of leaves.
So that all the information available with them is made public in the institution’s quarterly report. This leave is paid for by the former employer.
This, among all the benefits offered to investment bankers, is perhaps the best.
5) Perks for family
Common among most professions, but investment bankers while on business trips enjoy staying in five and seven-star accommodation and sample food by Michelin-star chefs.
A few investment banks even offer personal concierge, five-star accommodation, and sponsored vacation for families of investment bankers.
Overall, an investment banker enjoys a host of benefits, but at the same time, they also work under some of the pressing challenges.
These benefits and perks are driving factors people from other backgrounds are rushing towards this career, by equipping themselves with a certificate in investment banking.
Fortunately, most employers are open to hiring candidates from other backgrounds, and not necessarily finance. If you want to enjoy the above-mentioned benefits, you know what to do.