An investment bank advises companies on acquiring, selling or merging with other companies and on issuing debt and equity. Investment research analysts assist the bank in proposing these decisions through researching industry and markets, building financial models and giving investment presentations.
Career Path:Analyst → Associate → Vice President → Executive Director → Managing Director
Largest U.S. Employers:Bank of America Merrill Lynch CitiCredit SuisseGoldman SachsJP MorganMorgan StanleyUBS
Qualifications/Preferred Skills:A bachelor's degree is necessary for entry-level positions. Investment banks generally hire candidates who have strong backgrounds in economics, accounting, finance or statistics. Investment research analysts need strong research, statistics, quantitative analysis and modeling skills. They need to have an interest in markets and strong written and verbal skills, as they will often write and present their research. Keep in mind that research analysts work long hours, usually between 60 and 80 hours per work and sometimes over 100.
National Average Salary-Investment Banking Analyst:$84,000
How will your economics degree help in this field?The research and modeling on the capital markets side of investment banking are aspects of the career that are well-suited for someone with an economics degree. The quantitative reasoning and analytical skills you develop as an economics major are essential to this career path.