How to get a career in investment banking?

TheBiz

I'm new to the forums so if I've put this in the wrong section feel free to correct me.

I'm 17 currently in 5th year and I've been thinking of a career in the financial sector, I said investment banking because my aunt is fairly high up in an investment bank in London but I'm open to other areas (my uncles also a stockbroker)
I don't know if either of my relatives could get me a job because for instance my aunt said that by the time I am out of school she could be in a completely different area, but she said she'll try get my foot in the door..

I'm wondering what degree would be of use to me. I know economics and finance at UCD is probably my best net but I am not doing higher level maths which takes that out of the equation.
I realise not doing higher level maths makes it seem stupid for me to want to go into such an area but I have my reasons...

I am good at statistics, probabilities, ratios and add subtracting etc but I cannot for the life of me do algebra, geometry or other areas of that nature!

I will be getting within the 480 to 550 range regardless (or so I hope) so that leads me open to many options.

Any suggestions? And what about studying in England?
I know this is long winded but if I could et any insight that would be great!

topper_harley2

I think you need to stop basing your career on your relatives ability to "get your foot in the door". It sounds like you've given no thought to what actual career would suit your interests and aptitudes....you don't even mention if you are doing Accounting or Economics for the leaving cert!

TheBiz

topper_harley2 wrote: »

I think you need to stop basing your career on your relatives ability to "get your foot in the door". It sounds like you've given no thought to what actual career would suit your interests and aptitudes....you don't even mention if you are doing Accounting or Economics for the leaving cert!

Sorry I should have said we don't have accounting or economics but we do have business (majority of it is unrelated but there are some useful pieces)
I want a face paced career I want to something challenging, I had previously thought of medicine but I am not 100% sure so I am exploring other options.
I enjoy watching business related documentaries (ie million dollar trades etc)
I've a strong aptitude in areas of maths geared towards business (ratios, statistics and probabilities) but I'm not good at geometry or algebra (or other similar areas)

Frogdog

Have you looked at the Finance related degrees in Maynooth?

TheBiz

Frogdog wrote: »

Have you looked at the Finance related degrees in Maynooth?

No but I would consider it, a friend of mine who got in the region of 600 points is doing a finance related degrees in maynooth, he says it's great!

Frogdog

Having done the Finance degree myself years ago, I'd highly recommend it. I'm now working in a front office/investment fund management company.

FURET

The best kept secret in finance is that most fund managers (e.g. for private pension schemes) bring absolutely nothing to the table and in fact under-perform the index over extended periods. As long as this remains a well kept secret, people in these jobs will do very well for themselves, to the detriment of their ill-informed clients and society as a whole. Vive l'ignorance.

SBWife

FURET not much of a secret rather the reason that Vangard Index Funds are now the largest mutual funds in NA.

Back to the OP you need strong math skills regardless of whether you are looking to get into corporate finance, fund management or stockbroking. Not only do they come in handy on the job but employers look for these as a proxy for a strong analytical bent. After that it's competitive so a First or a High 2.1 in a related discipline would be the first hurdle, on top of that demonstrable interest in the sector via a personal trading account, societies etc. summer intern jobs with a finance focus won't hurt especially ones that'll give loads of Excel hands on experience as well as a basic understanding of the main third party information providers' platforms.

Gandalph

Seeing as you're only just starting 5th year is there any way you can bump yourself up to higher math and put in the extra hours to get a decent result, or is it a complete no go? I mean it is certainly not going to stop you if you are determined but it is a big help to have it.

As for courses it is not overly important as long as you pick something business related, although I would of suggested economics and finance in UCD but you have that ruled out already. If I was doing it all again I think I would pick TCD as my destination for a business related degree (business and law probably) as I know the course is very intense and rewarding, but also that Trinity has great societies in which to network in business (got to meet Chris Gardner through a friend!) and not to mention their well established student managed fund which would provide great first hand experience in the investment analysis industry, all this would look great on your cv.