Wall street?

Question

alright well i've been thinking about becoming an investment banker

and i know what they do and where to go to for undergrad and grad school and the general pay etc

what i want to know is, since i am a girl, will it be worth it trying to get into that field since it's harder for women?

and what would be good classes to take in high school to prepare me for it?

Answer 1

First of all, it is not harder for women to get into investment banking. Women do everything in the investment industry, my daughter is a fixed income trader and my best friend was an operational manager for a major brokerage firm,

Your college major is not important, (No courses in the Academic world prepare you to be in the investment business as an investment banker).  But since your coming into the world of Finance, some of the more helpful majors would be Finance, Accounting, Economics or Statistics,

Most major brokerage firms and banks are impressed with Master Degrees, it's not really important, but you'll have to play the game.  

The school is not all that important but you're grades are.  If you can get into a name school, it will be a bigger plus for you, but just pull down good grades.  You have to learn to sell yourself, if you do, you'll do very well.

You should be good at math and have a decent idea about the stock market. You should be preparing yourself while in high school.  Here are some books that you should read or have read by the time you apply for a position

What Works on Wall Street by James O'Shaunessey

Beating the Street by Peter Lynch

One Up on Wall Street by Peter Lynch

The Warren Buffett Way by Robert Hagstrom

Trading For a Living by Alexander Elder

Mastering the Trade” by John Caster

How to Make Money in Stocks” by William O’Neil

The Disciplined Trader by Mark Douglas

Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance.  (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )

While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why.  This site has some basic information for beginners. If any site offers free information, take it.

Other website that can provide instructions and help with procedures and terminology are

Investopedia - http://www.investopedia.com/  Stock Charts - http://stockcharts.com/

http://www.investorshub.com/  http://www.1source4stocks.com/



Visit some of the more professional websites like Zacks - http://www.zacks.com/

Smart Money - http://www.smartmoney.com/  Schaeffer’s – http://www.schaeffersresearch.com/

Some of these web sites will have advertisers who are worth looking into also.  And remember, if they offer free information, get it.

Try to get with any major brokerage firm or main office of a bank for summer jobs or jobs after school. This will help you generate a decent work resume when you graduate.

Don't let anyone tell you women can't do it, if you listen to that b.s. you'll start to believe it and you'll never make it anywhere,

Just do you're thing, your way, and prove that you can and will do it

Answer 2

Answering your second question first:  Investment banking--and most professions involved with investing, for that matter--is largely communication and psychology.  Add a dollop of accounting.  So study those things, now and in college.

And that doesn't mean become a mass com major in college.  A degree in Economics & Finance would be intelligent, with a minor in English and another minor in Psychology.

As to your first question, you say "since i am a girl, will it be worth it trying to get into that field since it's harder for women?"  I'm curious as to whether you mean getting hired is harder for women, or whether you mean the work is harder for women.

Certainly the work is not harder for women.  In fact, I would argue it's exponentially easier for women, as women typically tend toward consultative selling, which is what Wall Street is frantically trying to teach its men currently.

As to whether its harder to get hired as a woman, hmm.  Don't think so.  It's harder to get hired if you're mediocre.  If you're intelligent, have studied appropriately, and have interned at a couple of firms, my bet is you're in.

Good luck, and if you join us, welcome.