How Can I Learn About Investment Banking? (Economics, Finance, Banking

Itanimulli's picture
Rank: Chimp | 9

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?

Comments (66)

Feb 15, 2012

The internet

Feb 15, 2012

And where would you suggest I start?

Feb 15, 2012
Itanimulli:

And where would you suggest I start?

Watch Peter Schiff videos on youtube.

Feb 16, 2012
JeffSkilling:
Itanimulli:

And where would you suggest I start?

Watch Peter Schiff videos on youtube.

Peter Schiff is a fucking BOSS

Feb 16, 2012
Itanimulli:

And where would you suggest I start?

As an investment banker, I have only one piece of advice for you at the moment. Consider this life advice that isn't strictly applicable to finance.

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.

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Feb 15, 2012

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.

Feb 15, 2012

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.

Feb 15, 2012

I didn't say it was your fault, I said I was blaming you.

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Feb 15, 2012

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

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Feb 16, 2012

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

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Feb 16, 2012

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.

The Four E's of investment
"The greatest Enemies of the Equity investor are Expenses and Emotions."- Warren Buffet

Feb 16, 2012

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.

  • N
Feb 16, 2012

there is this site called wallstreetoasis.com

try reading it

Feb 16, 2012

Read "damn it feels good to be a banker", a real thought piece.

Feb 16, 2012

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.

"Rage, rage against the dying of the light." - DT

Feb 25, 2012

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.

Feb 25, 2012

"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

Apr 3, 2013

In case anyone still cared check "The Business of Investment Banking" by Liaw

Apr 3, 2013

Vault Guide to Investment Banking

Apr 3, 2013

get this:

http://www.scoopbooks.com/
best thing i have seen so far

Apr 3, 2013

have you read it lateralguy?

Apr 3, 2013

I have the "Vault" guide books... PM me for a copy.

Apr 3, 2013

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.

Apr 3, 2013

This will give you a good overview on what the job entails: http://www.amazon.com/Investment-Banking-Valuation... This is about the industry: http://www.amazon.com/Investment-Banking-Explained...

Apr 3, 2013

pearl and Rosenbaum

its one way or the other: hate me or admire.

Apr 3, 2013
makeyourownluck:

pearl and Rosenbaum

Co-sign. Good book to learn about modeling. I prefer BIWS, though, but it's not exactly a book and it's quite a bit more expensive...

Apr 3, 2013
makeyourownluck:

pearl and Rosenbaum

+1

Apr 3, 2013

Wow, this is an old topic... www.wallstreetoasis.com/FAQ-recommended-reading-investment-banking

Apr 3, 2013

Use the search function, there are many threads on this.

Apr 3, 2013

was it the spanish inquisition/merger?

John Tabacco's raw, unique market commentary based on real information from real short sellers:
http://www.TheDailyShortReport.com

Apr 3, 2013

To me, the best thing I have ever read, by far, is this book:

http://www.amazon.com/Investment-Banking-Valuation...
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

Apr 3, 2013
sk8247365:

To me, the best thing I have ever read, by far, is this book:

http://www.Amazon.com/Investment-Banking-Valuation-Leveraged-Acquisitions/dp/0470442204/ref=sr_1_1?ie=UTF8&s=books&qid=1276714628&sr=8-1

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??

Apr 3, 2013

http://www.leveragedsellout.com/
this was a great knowledge base for me...

Apr 3, 2013
MezzKet:

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

Apr 3, 2013

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.

Apr 3, 2013
sk8247365:

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?

Apr 3, 2013

Yes. Read the Vault guide to IB. It's on Amazon and Ebay.

Apr 3, 2013

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??

Apr 3, 2013

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.

Apr 3, 2013

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.

Apr 3, 2013

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.

Apr 3, 2013

http://www.Amazon.com/SAT-Prep-Black-Book-Strategies/dp/0615780849

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Apr 3, 2013

http://www.Amazon.com/Curious-George-Around-Boxed-Books/dp/0547487045

Apr 3, 2013

Expand your verizon? Welcome

Apr 3, 2013

Read the book and look up things you don't understand. Most things will be defined.

Apr 3, 2013

Basic accounting will make it easier to understand :)

Currently: future psychiatrist (med school =P)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

Apr 3, 2013

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?

Apr 3, 2013

High school senior here too! What schools have you applied to?

Apr 3, 2013

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!

Apr 10, 2017

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.

Best Response
Apr 10, 2017

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!

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Apr 10, 2017

Whoa this entire thread sounds like it's filled with retards...

Apr 10, 2017
John_V:

all I can do to crave my desire

...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

Apr 10, 2017

The FAQs on this site provide pretty good insight into different aspects of IB & S&T.

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Apr 10, 2017
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Apr 10, 2017
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How is my grammar? Drop me a note with any errors you see!

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Apr 10, 2017