How Can I Learn About Investment Banking? (Economics, Finance, Banking
I'm a high school student trying to figure out what I want to do when I graduate, and like most other high schoolers I want to do something with a high salary. My dads a doctor and my moms a teacher, and I can't picture myself being a doctor and teachers don't make that much.
So I looked into investment banking, but I literally know NOTHING about stocks, economic, finance, banking, etc. I don't even understand why the economy is bad, I just know is has something to do with U.S. stocks =. So how should I go about learning all this stuff?
The internet
And where would you suggest I start?
Watch Peter Schiff videos on youtube.
Do the best you can in school and position yourself into getting into the best college you can get into. Under than a few exceptions, better schools will ensure much higher banking recruit rate. And this is also applicable to other graduate careers whether you decide to change your mind and pursue education, medicine or even management consulting one day.
Focus on what you can control and the most important thing in your life right now.
I think a great entry point for you to get a basic grasp is to read "The Ascent of Money" by Niall Ferguson. In the book, he traces the evolution of essential elements of our financial system. He also goes into some of the causes of the 2007-08 Financial Crisis.
It's also pretty entertaining.
Read books like Monkey Business, Liar's Poker, The Accidental Investment Banker. If you think banking/finance is an interesting thing to do after reading those then come back and ask for more technical stuff.
http://www.wallstreetoasis.com/
http://en.wikipedia.org/wiki/Investment_banking
http://www.ibankingfaq.com/
http://www.wetfeet.com/careers-industries/careers/investment-banking
http://www.careers-in-finance.com/ib.htm
http://businessmajors.about.com/od/ibinvestmentbanking/
http://www.investopedia.com/
http://dealbreaker.com/
That's what came up with a 3 second google search. How did you manage to find this place but don't know how to find out what IB is? Lol
if u want to learn how 2 be a investment banker i sugest watchin "wall street: money never sleps" with the guy from transformer. that wil give u clear pic of how to become investment banker
1) Read the book "The Intelligent Investor" 2) Read WSJ.com and FT.com everyday to keep up with financial news 3) CNBC and Bloomberg TV are also good sources for current events 4) Get into the BEST possible school as you can 5) Open up a brokerage account (You can start w/ as little as $500) 6) Read WSO Posts everyday...Don't be afraid to ask questions 7) Do a job shadow or unpaid internship to see what the industry is all about
I am also a high schooler going into IB. Add me as a friend and pm any questions. To learn more your should read some books.
Buy 1st year "used" accounting, economics, and finance text books. Read them. Learn the concepts about time value of money, how the stock market works, understand how global events impact the markets. This will give you a taste and flavor that may either completely tune you in, or completely phase you out of this career path. At your age be open to doing what you are interested in and hopefully what you do love can make you money.
Start becoming advanced at Excel so that when you hit college, it becomes second nature. Honestly, when I was in high school, I didn't even know what IB was, let alone the time value of money. All I cared about was getting into college near a beach... you are already far ahead of many people.
there is this site called wallstreetoasis.com
try reading it
Read "damn it feels good to be a banker", a real thought piece.
All of the above advice is great, but I'm going to go against the grain here a little and suggest that you work hard on developing yourself first i.e. becoming a well-rounded individual. Being another soulless finance guy will do you no good in the long run. That being said, soak in as much as you can while maintaining your social life, other interests/hobbies, and school work.
I forgot to thank you all for the advice. I rented a few of the books you all suggested, and plan on watching that Wall street movie with the Transformer guy.
"I'm a high school student trying to figure out what I want to do when I graduate"
i think you should go to college when you graduate
In case anyone still cared check "The Business of Investment Banking" by Liaw
Good books to learn investment banking (Originally Posted: 08/31/2007)
Could anyone suggest a good text that one can learn some basics about investment banking from? I dont mean novels like Liars Poker or Monkey Business, nor prep classes like Dealmaven, but rather just straight up educational texts. Thanks for any input.
Vault Guide to Investment Banking
get this:
http://www.scoopbooks.com/
best thing i have seen so far
have you read it lateralguy?
I have the "Vault" guide books... PM me for a copy.
Get the WSO Technical Guide or my personal favorite, Breaking Into Wall Street. Both of these have like everything you need to know to prepare yourself for interviews and an eventual full-time job.
This will give you a good overview on what the job entails: http://www.amazon.com/Investment-Banking-Valuation-Leveraged-Acquisitio… This is about the industry: http://www.amazon.com/Investment-Banking-Explained-Insiders-Industry/dp…
pearl and Rosenbaum
+1
Wow, this is an old topic... www.wallstreetoasis.com/FAQ-recommended-reading-investment-banking
Where can I learn more about investment banking? Please help (Originally Posted: 06/16/2010)
Hey guys, I am interested in learning more about Investment banking to see if it's something I would want as a career. I know you guys probably hear this a lot, but please bear with me. So can anyone please recommend books, websites etc. where I can learn more about the IB? I have Vault's guide and have gone through the mergers and inquisitions website. But I'm still not really satisfied and am looking for more.
Any suggestions would be appreciated. Thank you
Use the search function, there are many threads on this.
was it the spanish inquisition/merger?
To me, the best thing I have ever read, by far, is this book:
http://www.amazon.com/Investment-Banking-Valuation-Leveraged-Acquisitio…
It has 32 reviews, all 5 stars, and I would agree--it is fantastic. It is designed for those who want to break in and REALLY gives you a good idea of IB. The last chapter on M&A is the most interesting, I would read it first. Got mine on Ebay for $30
Hey thanks for the info. Judging by the table of contents, the book seem extremely detailed. So I'm definitely going to get it. Although I have done CFA level I & II, so probably has quite a bit of an overlap content wise. But I want to start of with info that will give me more of a general idea on IB, and different functions within IB (ie. difference between M&A and capital markets, different functions within capital markets). Any suggestion people??
http://www.leveragedsellout.com/
this was a great knowledge base for me...
ahh i was just scrolling down to write that!
agreed, leveragedsellout is the best source to really learn about the industry
You should know there is no overlap between what is in that book and the CFA. This book is about the different modeling techniques, how bankers understand and present valuations, and the details from start to end of the M&A process. As much research I did on IB when I was interested in the career, I never really understood what to expect until I read that book. Other than that, it is not really much more than what you have probably been reading.
Search this forum for the other questions, like differences in groups and such. I am not too familiar with that.
FYI i am in equity research.
ER falls under the general operations of an IB?? Do you have any suggestions on readings to learn more about ER?
Yes. Read the Vault guide to IB. It's on Amazon and Ebay.
Yes, as mentioned in my original posting, I have Vault and the mergers and inquisition website. Looking for other good sources that give an organized, and general to detailed overview of operations within IB. Please any more suggestions people??
If you're not sure you want to be in IB, get an internship in it with a BB IB. The internship will look good in just about any business-related field you go into and it's the only real way to find out if you like the work.
Read Monkey Business. Sure some of it is drama but it introduces investment banking in an entertaining way. If you're brand new to the idea of IB, going over technical books on valuation probably isn't where you want to start. Scoopbooks has a book that's something like The Recruiter's Guide to Investment Banking that is very good. If you read WSO for a while then you get a good idea of things. The Accidental Investment Banker is another book. Mergers and Inquisitions just redid their website yesterday and the new design is much more organized now.
One question you have to ask yourself is if you want a job that requires you to work insane hours. Do you really want to work 15 hours a day? It pays a lot but the per hour rate isn't as impressive. IB jobs are tough to get. Many people leave after their 2 year analyst stint and go do something else. Most people really don't like the insane hours you put in. It really starts to get to you. People talk about work/life balance. IB doesn't provide much of one. If that's important to you, having plenty of free time to spend on whatever or whoever, look for another career. Almost every person in the industry that I've talked to about IB has told me that when I say I'm interested in IB.
where can i learn more about investment banking high school student (Originally Posted: 12/29/2013)
-
http://www.Amazon.com/SAT-Prep-Black-Book-Strategies/dp/0615780849
http://www.Amazon.com/Curious-George-Around-Boxed-Books/dp/0547487045
Hi - Wanted to learn more about IB and concept on banking (Originally Posted: 02/01/2014)
Just joined up to WSO and already appreciate the information displayed.I wanted to learn more about IB since it was a concept on banking that has caught my interest. Currently I am a Item processor for a bank but want to expand my verizon and take in more rewarding ventures. So I apologize and thank you in advice for questions or advice that might be obvious to you but not someone new.
Expand your verizon? Welcome
Prerequisites to learning IB? (Originally Posted: 07/19/2014)
I'm looking to study the Rosenbaum IB textbook for a class next year and wanted to know if there's anything I should study first to understand the text more. This question comes up because I just tried to look up what an LBO is and found finance terms that I hadn't heard before (e.g. Mezzanine capital, Senior debt). Will terms like these be explained within the book or should I be learning concepts prior to reading the textbook? Thanks
Read the book and look up things you don't understand. Most things will be defined.
Basic accounting will make it easier to understand :)
I bought the first edition a couple of years back and when I actually needed it last week, I didn't find the model templates, anyone has those?
High School Senior Ready to Learn IB (Originally Posted: 01/27/2016)
Hi there! I'm PunsBunz. I'm from Hawaii, and I'm in the second semester of my senior year. The funny thing is, a year ago, I was set on entering medicine: I had my entire high school course list set up around being a doctor, but until a year ago, I've become more interested in business.
It first started when my boss (I had a small job for a while) came in while I was working and I discussed my future plans with him and about being a doctor. He mentioned Hedge Funds to me, and how people in that industry compile billions of dollars. I was skeptical, but out of curiosity I looked it up.
After I looked it up, I could not stop researching about it. It wasn't just the massive paycheck that caught my attention, but rather what the industry was and how it worked: I'd never really had a definition for "business" careers. I learned more and more, and I found myself more enthusiastic and curious to understand things about business. I spent more time in the past year researching hedge funds and investment banks than I have doctor things in the past decade.
So, here I am. I'm looking forward to hearing responses from colleges in March, planning to major in Finance, and looking to break into the Investment Banking industry. From what I've heard and observed, I think I'm in a good position right now, since I have a sense of what I want to do at a reasonably young age! Now, it seems it's just all about making connections, getting ready for college, and shutting my trap so that I can learn more. Thank you for reading, and I look forward to being involved in this community!
High school senior here too! What schools have you applied to?
Not the sharpest tool in the shed unfortunately, but I've applied to Stanford and Cornell as reaches (and because my parents wanted me to). I'm mostly looking forward to hearing BU, NYU, SCU, and the rest our fallbacks. How about you!
You have lots of sites to read in the internet when it comes to investment banking. You can also consult your professor to give you a better understanding about it. If you are really eager enough to have it as a course in college, then do good in school. You are halfway ahead from your goals in becoming a professional relating to investment banking or maybe an economist someday.
Any advise for a high school student who wants to learn more about i-banking? (Originally Posted: 02/07/2014)
Hello members of WSO, as the title implies I am a high school student who would like to learn more about investment banking. I understand that this website was designed for 'professionals,' recent grads looking for jobs, stories of success, and etc... Due to my age and lack of experience and only being in 9th grade I possess none of those topics to discuss.
Although, I am interested in investment banking. Once in a bookstore I picked up a copy of the Economist and read it cover to cover. A few times the phrase, "investment banking" appeared. Lacking all knowledge of the meaning I started researching it. I read a Wikipedia article upon it and I desired to learn more. Evidentially, I watched hours of Khan academy lectures on banking, I picked up multiple books at a bookstore titling, The Intelligent Investor by Benjamin Graham, The Snowball, a biography on Warren Buffet written by, Alice Schroeder, Barbarians at the Gate, Why I Left Goldman Sachs, Liar's Poker by Michael Lewis, and even purchasing my own Investment handbook. All of these books and lectures did not solve my problem, it only made it bigger.
Since, I am only a high school student that is all I can do to crave my desire to get a glimpse of what investment banking looks like. I would hope all of you reading my post would please give me book recommendations that talk about investment banking.
I understand after reading multiple books and stories on this website about investment banking and most of them say the same thing. Investment banking is not the most easy field to get into. I hope to become an investment banker some day. I understand I am still an annoying high school student who performs immature things :) Although, if anyone knows anything that I should perform in high school that could help me become an investment banker I would be thrilled.
Thank you for reading.
You are on a site that ranges from people entering college to seasoned professionals. In regards to general finance take your math seriously. Further, get into the best school that you can. If you want to be ahead by the time you are done with college start watching the markets now. Learn what drives different asset classes up and others down. There are a variety of posts that should help you on your way. If you are serious about it PM anybody with extensive experience and inquire as to what you can do to get ahead at your age. Check out sites like investopedia to help learn some basics. Learn what you can about the markets and start networking immediately. Getting an interest in this field in your youth should help establish you for the future as long as you are highly motivated. Memorize the financial statements now. Also, learn how to relate to people from all walks of life. Stay motivated!
Whoa this entire thread sounds like it's filled with retards...
...how about you go get laid and then come back like a normal human being and ask some decent questions and not spew out a bunch of verbal diarrhea
The FAQs on this site provide pretty good insight into different aspects of IB & S&T.
Hey pinkclouds, I did as you asked... Apparently, when you talk like a normal human, friends and family can understand you and you become a more likeable human being. I recommend you take the same advice you gave to me, for yourself. When you do talk like a normal human as I learned to do maybe you could give me some book recommendations on investment banking? Besides, both of us now learned to talk like normal humans so you can tell me "no" in a way that does not sound like a knuckle dragger.
You are an adult and I need to respect you, so thanks for your advice!
Atque qui autem rerum earum earum. Molestiae maiores adipisci earum totam. Sed est corrupti voluptatem omnis voluptatem. Consequuntur voluptates iure ratione reiciendis temporibus. Voluptatibus laudantium in velit omnis enim quo. Nostrum fugit eligendi nisi consequatur sed aut. Et quos quis cupiditate et.
Totam tempore aut dolorem ducimus tempora laborum neque natus. Molestiae unde rerum aperiam enim voluptatibus nobis. Sit quod dolore dolorum tenetur. Ipsa libero numquam et sit eum. Dolores dolorum sed at impedit libero dolorem est. Modi voluptatem a ducimus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Non iusto consectetur ipsam a voluptate vitae doloribus. Consectetur minima similique voluptatibus voluptas voluptatem voluptate distinctio.
Ipsa doloremque dicta praesentium odit blanditiis nihil qui. Nihil dicta dolorem sint voluptate. Omnis nihil libero dolor mollitia nulla odit. Ea ut aliquid laboriosam est aspernatur accusamus saepe.
Nam vero inventore tempore. Impedit quia totam et veniam dicta itaque. In assumenda ipsum occaecati laborum aut voluptas. Exercitationem suscipit mollitia laudantium assumenda qui totam tenetur.
A vel facilis asperiores libero deleniti aut. Quo odit provident voluptatem voluptatem est ex.
Numquam occaecati in eos vel non est. Quidem tenetur omnis quia hic. Numquam molestiae at numquam facilis vitae.
Doloremque doloremque odit laboriosam modi consequatur id. Omnis praesentium et perferendis ut est dolor et.
Soluta nesciunt a eos quas unde omnis. Sint odit nihil sit deleniti. Rem laborum sed corporis aliquam.