In this post, we shall be looking at investment bankers salary structure in Nigeria. Investment banking is such an interesting profession due to the fact that their salary per month is very attractive, and the nature of their job, their work environment, etc., is really nice.
Investment banking is among the highest paying jobs in Nigeria and the professionals in this line of work can easily fit into different sectors due to the dynamism of the profession. According to Investopedia, what investment bankers do is to help a client raise money in capital markets by issuing debt or selling equity in the companies. Other job duties include assisting clients with mergers and acquisitions (M&As) and advising them on unique investment opportunities such as derivatives.
In Nigeria today, investment banking has given graduates in the financial sector the opportunity to earn more money than regular bankers and this opportunity, is not as easy as it seems but those who really succeed on the job earn really fat pay cheques as monthly salaries.
If you have always wanted to know how much investment bankers earn as salary in Nigeria, this article will give you answers and additional information that you need to know about this profession.
WHAT IS THE MONTHLY SALARY OF INVESTMENT BANKERS IN NIGERIA?
Entry level monthly salaries for investment bankers in Nigeria is between a pay range from ₦300,000 – ₦600,000. Allowances and bonuses are not included as well as profit sharing. Once all these are added, your guess is as good as mine, their salaries per month will be all the more impressive.
One important thing to note is that the yearly bonuses for top performers on the job can run into millions of Naira. With this alone, it is safe to affirm that investment bankers are some of the highest paid professionals in the country. Their salaries can match NNPC salary structure, as well as the salary structure of Chevron workers in Nigeria.
Investment bankers are important for making decisions on various financial deals, especially as it affects you and the economy. They advise companies concerning stocks and shares. They also advise clients on different options like mergers, acquisitions, etc. Their major concern is how to raise money for their clients through their expertise.
HOW TO BECOME AN INVESTMENT BANKER IN NIGERIA
The following are the steps to take if you want to become an investment banker in the country.
Basically, investment banking, just like the normal banking and consulting profession is an ever changing profession and any graduate with a degree in any discipline can venture into this field as long as they are determined to succeed in it and have the drive for it.
Originally, investment banking was a field for those who studied accounting, economics or any course in the social sciences, these days, more and more graduates from other fields are seen venturing into it.
If you want to venture into this field, you should endeavour to complete your secondary school education and acquire your SSCE certificate, making sure that you pass English, Mathematics and three other core subjects, including economics, account, and similar subjects.
When you proceed to the university or the polytechnic, if you are a commercial or arts inclined student, you should target studying Accounting/Accountancy, Economics or any other related course but you must first sit for the UTME and meet or surpass the required cut-off mark. Once you have done that and have also passed your post UTME, you will be offered provisional admission to study your course. Be informed that there is no specific degree required for employment as an investment banker and graduates from different fields can pursue a career in it.
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Upon graduation, you are mandated to go for your NYSC which is is a one-year service to your fatherland after which you are qualified for employment in the country.
THINGS YOU SHOULD KNOW ABOUT INVESTMENT BANKING
Investment bankers take on diverse roles in the financial sector and their goal is to ensure that money is raised for their clients. They are very active in raising funds for numerous organizations and offer advisory services to individuals and businesses.
Investment bankers offer brokerage services, they deal in forex trading, asset management, and financial portfolio development. The three major areas where they are most effective are in trading, research analysis, and corporate finance and corporate finance involves deals with corporate clients, helping them to provide merger and acquisition advice, managing corporate fund raising, and consulting on debt and equity management.
One thing to note as an investment banker is that you will have to put in a lot of time and devotion to your work as the job is very demanding and requires a lot of concentration. Simply put, it is very tasking and after being paid huge salaries every month, you will be surely expected to deliver.
It is not easy to venture into the field of investment banking as only the strong survive. You will need to attend some of the best schools in the country and graduate with good grades, a second class upper degree should do. This will stand you in good stead to be employed and bear in mind that you should prepare well for your aptitude test in order to get employed. Familiarize yourself with GMAT so that you will be well prepared should your potential employer set questions from that angle.
Just bear in mind that if you get the job and you do very well, you will set yourself up to get paid really interesting sums per month. Your bonuses will further drive your monthly pay upwards. With a lot of hard work and discipline, it is possible to maintain your career as an investment banker and climb up your professional ladder with promotions and experience on the job.