An MBA from Ivy league institutions or top-ranked business schools acts as a breakthrough for aspiring investment bankers, according to experts.
Every MBA graduate dream of getting into investment banking (IB) firms like JP Morgan Chase & Co. as rightly said by the experts, to get into a multinational bank like this one, a top MBA degree from a highly-ranked business school can do the trick.
To be honest, most of the prestigious IB firms tend to choose their candidates from highly-ranked universities or business schools. Thus, if you’re from any one of those prestigious institutions, it becomes quite easy to find out.
Does it mean there are no chances left for other MBA graduates?
Oh no, not at all. break into the IB career despite being from any MBA program, says Karin Ash, a former university career services official who helped a lot of students getting jobs in an IB firm.
Both the current and former bankers have proclaimed it is possible to get a job with a normal MBA degree. Although most prestigious investment banking jobs often hire aspiring analysts from highly-ranked business schools, they also warned those individuals who did not go to college may struggle to become an investment banker without an MBA degree.
The job role of an investment banker
It is a blessing for an aspiring IB professional to get into this field. Individuals getting into the IB firm gets offered with one of the best salary packages in the industry.
Though the remuneration seems like a cherry on the top, it takes more than just an MBA degree to get into the field.
There is no proper definition of having normal work hours for an investment banker. It takes a lot of hard work and guts to thrive and survive in this industry. If you’re a dedicated candidate with good financial and social skills, it is quite possible to say you’ll have a long way to go in this job role.
However, those who have been charmed by just the monetary gains, it could be difficult for you to survive in this industry. From networking with clients and conducting complex analysis – there’s still a lot more for you to do as an investment banker.
Besides an MBA degree, employers need candidates who excel in business initiatives, creativity, and effort. The reason why professionals have also started obtaining banking certification programs to achieve their dreams.
So, getting back to the question, will an MBA degree help you break into the IB industry? Well, it will help you improve your chances of getting a job, but not every time.
If we dig deeper into the topic, you will realize that the question itself is subjective and might vary from person to person. First of all, your educational background plays a solid part in helping you establish your goals. Second, do you even have what it takes to get a job in the IB industry? You need to be mentally prepared. Also, most recruiters these days have become strict with their hiring patterns.
As competition becomes tough, candidates need to demonstrate why they’re a good fit for the given job role and why you need to choose them. In such situations, obtaining a professional investment banking certification always helps.
Professional certification helps validate your skills and assures the employers that you’re ready for the job. Besides this, it also gives the recruiters a benchmark standard of validating a candidate for their firm. It gives proof to the recruiter stating that you know what you’re doing.
So, you can always opt for an MBA program followed by certification to strengthen your chances of landing your first investment banking job.