How many bankers does it take

Student Guides. Career guides. What is an investment banker? Should I become an investment banker? By working as an investment banker you can expect: High earning potential A competitive work environment Growth and development as a graduate To deal with high-profile transactions.

Steps to becoming an investment banker To become an investment banker in the UK, there are a few steps you can take to help you pursue an investment banker career:. A Level or equivalent. Masters degree. Undergraduate degree. How long does it take to become an investment banker? Undergraduate degree — 3 years Internships — during your degree recommended Masters degree — 1 year recommended After you have achieved an undergraduate degree, typically three years, you can go directly into a job in an investment bank.

Investment banker job profile Understand the day-to-day duties of an investment banker and what skills you need to succeed. Read career guide. So I simply ask: how many bankers does it take to change this light bulb?

And I recently conducted a survey, a study, I offered it to my Facebook friends and my 14, Twitter followers to gauge their opinions on banking trust and changing light bulbs. But these same respondents only trust bankers about as much as they trust politicians and news car salesmen: 5. Have we learned nothing from this financial crisis? If people have faith and trust in the financial system, why has the price of gold spiked?

Why are people opting out of the fiat currency system all together and putting their money in cryptocurrency like Bitcoin? Friends, this is a disturbing situation and does not bode well for the future because banking is a metaphor for trust. We need a robust, profitable, and healthy banking sector in our society.

Banking performs an essential function as a trusted custodian of assets, allowing you to have a safe place to store your money at night, for which you receive a fee, and allowing others to access that capital the next morning and pay a slightly higher fee for the privilege to fund housing investments and small businesses for finance.

But the trouble is that the basic banking business model has not changed a hell of a lot over the last few thousand years. Boring banks wanted to become sexy, and get into stockbroking, propriety trading, commodities, asset management, collateralized debt obligations, credit default swaps, product manufacturing and distribution. Bigger banks meant bigger bonuses. Bigger bonuses meant bigger profits.

Bigger profits meant bigger risks, risks that became so big that banks were too big to fail, requiring drastic action and intervention on the free market by government when they eventually did fail, providing emergency bail-out funds in an attempt to restore faith and confidence in the system.

But instead of restoring faith, it destroyed faith. Finance is about funding the roads, and the schools, and the hospitals, the academic institutions, the research and development, providing a venture capital for brave entrepreneurs, and tech start-ups, and small business owners.

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A seventh to monitor that the light bulb was changed by a member of staff who was cleared by the banking union to be authorised with light bulb changing management. How many bankers does it take to change a lightbulb? Eight of course. One to change the lightbulb. A second to assess the risk of the light bulb changing process. A fifth to audit the supply of the light bulb following the internal purchase order procedure. And an eighth of course. Chris M Skinner. Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.

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