Getting into Investment Banking

[Xenophon]

Offer yourself up at half the going rate for 3-6 months or even offer to do a free trial (if you can afford to) for a few days to a month.Afterwards you can legitimately claim up to 6 months experience.

I did something similar, although not as brave, for this gig (big bank). Started on £325 and it is now £400. Although it has taken 2 rate increases and 9 months...

[dork]

FYI: Got first contract in investment banking at top rates, due to technical expertise and the gift of charm!

Seriously tho.. spoke to an agent (who seems pretty knowledgable) who suggested that the big demand for contractors at the moment means that there are a lot more openings where banking experience is not required. He suggested to me that it is a case of getting in now before the doors close again.

[Jay54]

I agree with whore, .NET + Public Sector = Gravy Train.

That sounds familiar - I was on the train! But now Im on the loco express!

[ChimpMaster]

FYI: Got first contract in investment banking at top rates, due to technical expertise and the gift of charm!

Seriously tho.. spoke to an agent (who seems pretty knowledgable) who suggested that the big demand for contractors at the moment means that there are a lot more openings where banking experience is not required. He suggested to me that it is a case of getting in now before the doors close again.

What's a "top rate" these days in banking?

[BlasterBates]

About £600..

You can get more but its unusual. There have been peaks where you could get £800. I remember a couple of years back they got that high but only temporarily, some highly paid contractors then got their rates cut.

Going for an experienced role front/office or risk management developer role, you should be pitching in at £550-600.

[bunting]

1st Post, so here goes (hello everyone btw)
Investment Banking is difficult to get into even from within finance. I've been in credit cards for 10 years as PMO, DBA, MI Mgr, Service Mgr as permie then PM contracting. The rates are good here, but you still have to specialise & keep your skills up to scratch. Prince2 is all the rage so I've had to fork out 1500 sheets to keep a contract alive. next year it's MSP. Lots of reading around chip cards for me. You've got to know your market.
Investment Banking is like the holy grail of contracting, they will take you on but they will also get rid of you very easily/quickly if don't make the grade. Best bet to get something £400 - £500 to start with then move on with experience. Most likely to get longer contracts this way too.

[ChimpMaster]

1st Post, so here goes (hello everyone btw)
Investment Banking is difficult to get into even from within finance.
..........
Best bet to get something £400 - £500 to start with then move on with experience. Most likely to get longer contracts this way too.

Welcome Bunt.

I wouldn't say that credit cards counts as finance, but that really depends on one's definition of the term.

It's also not easy to get something paying 400/500 "to start with"... unless of course there's something ur not sharing???

[Lockhouse]

I've been contracting in Investment Banking for over 15 years and if I hadn't had to have got divorced twice I'd have retired by now

[ChimpMaster]

I've been contracting in Investment Banking for over 15 years and if I hadn't had to have got divorced twice I'd have retired by now

Hey Lock. What area do you work in, and from your experience, what are good rates in investment banking?

[Lockhouse]

At the moment I'm in Equities but have worked in Fixed Income, Equity Derivatives and Credit Risk.

Rates are relative. It all depends on your skills and more importantly what you can do for the business.