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Unoffical Guide To Banking Essay

4834 words - 20 pages

THE
UNOFFICIAL

GUIDE TO
BANKING

What career options are available? Are the
myths about the hours or salary really true?
And how do you get a foot in the door?
This straightforward, no-nonsense guide
has info on most divisions and roles plus
tips on getting hired. What’s more, it’s all
been written with the help of recent
graduates working at Deutsche Bank who
were in your shoes not that long ago.
Your career in banking starts here.

OVERVIEW OF BANKING
Banks are large, complex organizations, but what
do they do exactly?

01

There are four broad categories of banking:

Put simply, they provide services for those who
want to borrow, lend and invest. Their clients
...view middle of the document...

Some of these are
based on truth, some are definitely rooted
in misunderstanding. This document will
reveal which is which.

WHAT IS ASSET MANAGEMENT?
The people here manage investments for private
funds, individuals and organizations. It’s a diverse
area with many roles – including researchers,
portfolio managers and sales people. Their
common goal is to make their clients’ money
make more money.
They do this by investing in things like:
• stocks – also known as equities, a stock is
typically a ‘share’ of ownership of a company
• bonds – these are basically loan agreements:
a company or government issues bonds and
receives money in return, while the bondholder
receives a fixed amount of interest on the
money they have lent

02

So is it right for you?
Asset Management could be a great career if you:
• have the strategic skills and insight to develop
products at the forefront of the industry
• like to think ahead; the role is about
developing sound investment choices that
meet a client’s objectives
• want to work with, and influence, some of the
world’s biggest investors
• are dedicated and are prepared to put in the
hours to develop your specialism.
But before you decide, also be aware that:

• foreign exchange – also known as forex or FX,
this is currency of other countries

• your performance will be transparent, and
success measured by the portfolios you manage

• property – i.e. real estate.

• the market never sleeps; you have to work hard
to stay on top of developments

The various functions within Asset Management
are normally split into the following categories:

• networking is key

• investments – this is the ‘doing’ bit of Asset
Management. Researchers, portfolio managers
and traders work here

• it’s about passion and commitment; if you don’t
have those it’s not the role for you

• sales and distribution – This function positions
and sells the investment services offered by the
bank. It also manages client relationships.

• the pressure can be high, although it doesn’t
tend to be quite as fast-paced as Sales & Trading.

MYTH
OR ?
REALITY

Will a job in banking
make me millions?
You may earn more than in
another industry, but a private
jet will still be a stretch.

• you will need to take professional exams

“To be successful,
you must be able to
demonstrate passion
for your work. Genuine
passion is hard to fake.”

WHAT IS CORPORATE FINANCE?
Corporate Finance delivers the strategic advice
and financial products that help large corporate
clients build their businesses and grow their
shareholder value. The service includes:

03

So is it right for you?
Corporate Finance could be a great career if you:

• selling shares and debts

• are highly numerate – you’ll be working out
how different strategies impact clients’ finances

• securing new business deals

• have plenty of drive, ambition and flexibility

• developing financial strategies

...

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