Investment Bankers

In recent years, investment banking has lost some of its allure for current and prospective bankers because of the long hours, the decline in revenue by banks (which has prompted staff cuts and lower bonuses), the uncertainty of promotion (as investment banks reduce the number of managing directors), and the public’s negative perception of the industry. The Boston Consulting Group reports that “social-media and technology companies are attracting Millennials by appealing to their desire for global experiences, high levels of responsibility, rapid advancement, and an attractive work-life balance. Overall, investment banks are losing the human resources battle.” Investment banks are also facing strong competition for employees from hedge funds, private equity firms, and venture capital firms.

Although the investment banking industry has shrunk in recent years, there will always be a need for investment bankers. The Bureau of Labor Statistics expects that demand for investment banking and retirement services will create average employment growth of about 4 percent for securities, commodities, and financial services sales agents between 2018 and 2028. Those with extensive, specialized experience in industry/coverage groups or product groups will have the best job prospects.