How To Become An Investment Banker in Nigeria: Requirements & Steps (2024)

You’re on the right track to success if you’re a business or finance student who wants to work in investment banking. We believe you’re interested in learning more about how to break into this interesting sector.

Investment banking is a tough field, but it also offers a lot of rewarding opportunities. This is especially true for people who are interested in market developments and are enthusiastic about assisting clients in achieving their financial objectives. This post will outline the steps you must take to work as an investment banker in Nigeria.

WHAT IS INVESTMENT BANKING AND HOW DOES IT WORK?

Let’s clarify what investment banking is if you’re unfamiliar with the term.

Investment banking is a branch of the financial services industry that assists people and corporations in raising financing for their ventures. The banking system also serves as a consultant to these companies.

Investment banking also includes the buying and sale of private and governmental entities’ shares and bonds. By acting as middlemen between security issuers (private or public enterprises, foreign governments, and so on) and investors, they play a critical role in capital issuance.

Working in investment banking also has its drawbacks. But, despite the difficulties, the opportunities are seldom underestimated. You’ll be able to establish a strong and long-lasting professional network, which will be invaluable throughout your career.

Furthermore, investment banking is brimming with lucrative chances for tenacious individuals with a keen interest in market trends. It also assists individuals and businesses in achieving their financial objectives.

HOW TO BECOME AN INVESTMENT BANKER IN NIGERIA

The majority of young individuals leaving university aspire to work as investment bankers. However, you will only be able to realize your ambition if you establish the correct goals and work hard and intelligently to achieve them.

Here are pro-tips in helping you in your career journey as an investment banker in Nigeria today.

UNDERSTANDING THE INVESTMENT BANKING CAREER PATH

Knowing which road to take and making the most of each step along the way is one of the secrets to building a successful career in investment banking. Despite the fact that most entry-level investment bankers begin their careers as financial analysts, the investment banking career path truly begins with an internship. Indeed, both large and small niche banks use their annual crop of interns to hire entry-level workers.

As a result, securing an internship while in college is critical to your success. An offer for a full-time financial analyst position will result from this internship. Financial analyst positions normally last two years and provide you with the majority of your investment banking training.

You’ll understand about financial markets and the considerations that go into advising clients on potential investments during this time.

TAKE RELEVANT CLASSES AND COURSES

During college, taking a variety of business, financial, and even math classes can be a useful approach to broaden your knowledge base. This is especially true if you’re going from a non-traditional background like English or history to work in investment banking.

Talk to your academic counselor and ask for recommendations based on your interests and goals to find out which classes would be most beneficial for you.

Although a double major or minor in one of these subjects isn’t required, it’s a good idea. Being able to demonstrate to recruiters that you’re a well-rounded applicant, on the other hand, is a terrific approach to stand out.

EARN A DEGREE

In the world of finance, investment banking is a very popular specialism. Several recent graduates and seasoned workers seek to work in investment banking.

Having a degree is the first step toward an entry-level position at an investment bank, despite the fact that there is no specific course for investment banking.

You must also ensure that you graduate with a decent grade– first class or second class upper– in order to compete with others looking for investment banking jobs.

APPLY FOR INTERNSHIP

It is recommended that after receiving a degree, you apply for an internship to gain further experience in the investment banking field.

This internship will also help you increase your chances of landing a graduate entry position. Before you graduate from university, you should also undertake more than one internship in the field.

Furthermore, the majority of entry-level investment bankers begin their careers as financial analysts. As a result, starting as an intern will provide you an advantage over others who have no prior experience.

READING CAN HELP YOU SHARPEN YOUR INTELLECT

It’s not enough to constantly applying for investment banking jobs; you must also prepare for them. So that you are not completely bewildered when you are summoned for an interview, opportunity should meet preparedness.

Read investment banking books and learn about new market trends and investor behavior. Know everything there is to know about investment banking, as though you’ve worked there previously.

MAKE A LIST OF INVESTMENT BANKS AND COMPANY YOU WANT TO WORK WITH

When you know exactly what you want, it’s a lot easier to achieve it. Knowing what you desire will assist you in pursuing it with zeal. If you actually want to work as an investment banker, you must first determine where you want to work. You can then go to their websites to see their latest news and other information that may be useful to you.

You may have a decreased probability of becoming an investment banker if you don’t have an investment firm in mind.

MAKE A PLAN TO APPROACH INVESTMENT BANKS

Making a list of the investment firms you wish to deal with isn’t enough. You must inform them that you are interested in collaborating with them.

Send them cold emails if you can. You must persist even if you do not receive a response the first time.

Furthermore, you must use LinkedIn because that is where the majority of CEOs and human resources managers hang out. Make eye contact with them and create an engaging profile. Replace methods that aren’t working with new ones by remaining tenacious and proactive.

MAKE CONNECTIONS AND LOOK FOR OPPORTUNITIES

If you really want to work as an investment banker, your location is crucial. You should relocate to a city with a lot of prospects, such as Lagos or Abuja. Many investment banks are based in Lagos, so relocating there can help you contact and network with people in the industry.

Networking with people who work in the finance industry will increase your chances of landing a job. Your logic and mentality will shift, and everything about you will be positive.

PRACTICE FOR GMAT AND SHL EXAMINATION

The most extensively used exams for business school admissions are the GMAT (Graduate Management Admission Test) and the SHL Numerical Reasoning Test.

It is vital to prepare for these exams beginning in elementary school, as they appear to be the first step toward becoming an investment banker.

Finally, in order to excel in investment banking, you must keep up with the newest news and happenings. This will boost your confidence and assist you during your interviews. It will assist you because you will be tested on your ability to stay updated.

CONCLUSION

The prospect of becoming an investment banker may appear daunting. This is due to the competitive and fast-paced nature of the industry. You’ll be sure to locate a position that’s perfect for you if you follow these guidelines and build up your experience and network. This article outlined the processes necessary to pursue a career as an investment banker in Nigeria.