Book Yoda. Business & Investing.

I'm currently a teacher. I'm looking to go lateral entry into the financial services field. I'm absolutely passionate about financial systems, markets, securities, banking, investments etc. and am willing to commit my life to this profession.

There are very few entry level positions available for people like me however. Even though I know have a better work ethic, more ability, and passion for this field....I'm worried that companies will be looking for the typical college graduate.

I did find an entry level financial analyst position available near me. It indicated that they are hiring financial anlaysts in the product control function of their investment banking division.

Do you have any recommendations about pursuing this type of job?

Also, any advice on acquiring a job in equity or securities research? I'm looking for a step in the door....I can do the rest when I get in. Thanks in advance!

Investment banks rarely accept lateral entries, unless they are from another investment bank. Also, an analyst position in an investment bank is simply a stop on the way to a sales position; IB analysts are a dime a dozen, while high-powered salespeople are what makes or breaks an investment bank.

Equity research in brokerage houses is quickly moving away to India. In 2002, there were 300 security analysts in India, now there are 5,700, and it is estimated that there will be about 20,000 in 2011. JP Morgan Chase and Credit Suisse already moved large parts of their research teams to India. Other brokerage houses simply contract their research out to Indian companies like Adventity.

You should consider becoming an investment advisor instead. It's a job that is not going overseas because it requires face-to-face contant with the client. There is a number of large brokerage firms that have local offices and training programs for new advisors. Off the top of my head, Merrill Lynch, Morgan Stanley, UBS, and Ameriprise (formerly American Express Financial Advisors) all have those programs. Some insurance companies do as well.

Alternatively, you could start an investment newsletter. With annual subscriptions starting at $100, some newsletter publishers do quite well...

2006-07-27 13:29:17 by Thanks for your help!

myth vs. realities at Deutsche Bank

I intend to go into finance/investment banking (after i graduate and hopefully the economy recovers) . How much salary+ bonus would a NEW investment banking analyst make at an i-bank such as goldman sachs or jp morgan. also, i intend to get a Masters in financial engineering after i graduate from college.....is it even worth it? will it give me a better shot at a higher position at an investment bank or will i have to start at the same level as college graduates?

At that level, the bonus is not significant. To make the big dollars, you need to become a banker with close ties (i.e., give a lot of money) to the President, the Speaker, and various other corrupt politicians.

2009-03-29 01:32:19 by existence

How do you get the money? What documents/contracts do you need? This will probably differ than other businesses. For example, it would seem a little odd for an investment banker to go to another investment banker to ask them to invest in their investment banking business. Technically, where exactly do you get the starting money? Answers will be appreciated. Thanks!!!!!

Become a stock broker. Build a successful and happy clientele. Move up into the retail and investment banking groups. Keep building your happy clients. After 10-20 years, break away to start your own operation and take clients with you. If you're consistently good at selecting profitable investments than your track record will attract money. Then you'll have 401k managers, credit unions and other institutional investors prepared to put in tens or hundreds of millions of dollars. Basically, this is a lifetime ambition like running for president. It starts from college.

2008-10-15 18:47:03 by GuitarMaster

I am currently working for a big CPA firm. I have two years of experiences. I am looking to make a switch to Financing, particular Investment Banking. I have been searching for an associate position at many of the IB firms, but all of them seem to require an MBA or IB experience. Due to this reason I am planning to apply to business school. Is it possible for me to find a IB or equity research job without prior experiences or an MBA? If so, how?

In today's America fat chance. I know people with MBAs from decent schools working as tellers. The late-90s are no more.

2006-12-27 16:11:18 by 3T's

I'm interested in the field, but don't have much experience. I'm interested in Global Markets and would like to get some general information about this field and investment banking in general.

ther's really only 3 levels; The Rich Guys, the Stiffs, and The Slaves. As an entry level dude, you'lll be A Slave. The hours are brutal, and 80% of the slaves get washed out, burned out, or fired. But if you're one of the 20%, then you'll be A Stiff. The Stiff usually is a guy in his 30's, he works alot, but the cash starts to tumble in. And you'll have your're own stable of slaves. 80% of the stiffs either get washed out, burned out, or fired. Now, if your still with me here, you're a Rich Guy. Rich guys become obscenly rich, and they live a very good like, until the keil over from a heart attack, generally around 52.

2007-08-16 17:00:43 by willnyu1982