Individuals who are interested in entering the field of investment banking may want to consider obtaining a graduate degree to increase their knowledge, skills, and job prospects in this field. There are a number of different graduate programs with varying focus areas that would prepare students for a career in investment banking. Some of these programs are likely better than others, as they may equip students with more useful skills and have a better reputation in the world of investment banking. Below, we will look at several of the best graduate degree programs for investment banking.
Best Graduate Degrees for Investment Banking
Because there are a number of different possible graduate degrees that would qualify you for a career as an investment banker, it may be a challenge to know which degree to pursue. However, your interests and career goals will likely be a strong factor in making this decision. Below, we will look at three different graduate degree programs, and their admission requirements, that could prepare you for a career as an investment banker.
Master of Business Administration (MBA)
One of the most common ways individuals enter the field of investment banking is through a Master of Business Administration program. These programs typically take one or two years to complete and expose students to concepts in business, management, administration, leadership, finance, and economics. Sometimes these programs also allow students to pursue a specialization or concentration area, or complete an immersion experience in a field that they are interested in working in, like investment banking. When applying to an MBA program, students will need to complete an application form, submit a resume, personal statement, professional recommendation, official test results (typically from the GMAT or GRE), and transcripts from all undergraduate institutions. Competitive MBA programs often encourage applicants to spend a couple of years or more gaining work experience before applying to an MBA program.
Juris Doctor (JD)
Students who have an interest in studying and practicing law with the ultimate goal of working in investment banking may want to consider pursuing a Juris Doctor degree to become a lawyer. While the first year of law school is often very similar across all law programs, students typically have the opportunity to take classes more geared to their specific interests during the second and third year of law school, like courses involved with secured transactions, bankruptcy, consumer finance, and federal regulation of financial institutions. Some individuals may choose to work for a few years as an attorney before transitioning to a career in investment banking.
Master of Science (MS) in Finance
Another graduate degree option for individuals who are interested in a career in investment banking is a Master of Science in Finance. This degree program will offer students a more focused and in-depth look into the study of finance. These programs are typically designed for individuals who have already completed an undergraduate degree in a related field, though they may be open to students from a variety of educational backgrounds. In a Master of Science in Finance program, you will likely be required to take courses that focus on financial modeling, financial reporting, economics, and econometrics.
General Admission Requirements for Graduate Degrees for Investment Banking
Admission requirements for these graduate degree programs do vary, as some programs may require students to have taken specific undergraduate courses. However, in general the application process is similar, as students will be expected to submit a completed application form, personal statement, undergraduate transcripts, letters of recommendation, and a resume. To gain admission into a law program, students will need to take and submit their results from the LSAT. MBA and MS programs in finance typically require that students take and submit the result from the GRE or GMAT.
In summary, there are several different graduate degree options for individuals who are interested in working in the field of investment banking, like a MBA, JD, or MS in Finance.