The Investment Banking World and financing
The world of investment banking is by far the most cut throat in terms of job industries in the world. Employees are asked to put in painstaking hours (although for good reward) and travel non stop. A career in investment banking usually begins at an ivy league university such as Harvard, Cornell, Princeton etc. and requires that the student maintains a very high GPA as well as gets involved with extra curricular activities while on campus, AND the applicant is expected to partake in internships as much as possible.
Once the student is a senior in college the job application process to one of the big investment banking firms, such as Goldman Sachs, begins. It generally involves several essays, letters of recommendation, transcripts etc. Breaking into the world is not easier, and staying inside of it can be even harder.
Investment Banking Careers are generally short lived by the employees for any number of reasons but in general it revolves around the hours put in. It is common practice to stay in the investment banking industry for a period of 2-5 years and then begin to branch out into other financial practices.
What is investment banking exactly you ask? Well the simplest form of investment banking is the setup of an IPO (initial public offering) for a company that is looking to go public on the new york stock exchange. This process involves valuing a company, as well as trying to determine what an open share price could be. Once this information has been obtained it is the investment bankers job to take the company public at the highest possibly share price.
The reason you hear people talk about Google or other tech companies higher ups becoming millionaires on paper when their companies go public is for this precise reason. They are the largest share holders, and own thousands and thousands of shares. Therefore when the company goes public at $100 a share, they become rich. Their are many other aspects of investment banking, but the IPO is the most common practice.
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