How to start a career in Investment Banking in Nigeria

Someone recently asked me what is required to become an Investment Banker. Here are some of the things i shared with him, for those interested in the field.

Investment Banking in Nigeria has significantly improved in the past few years with new regulation & market oversight to bring practices on par with international standards. Major banks now have Asset Management subsidiaries and arms that focus primarily on investment management, and new big players have entered the market. So this is great news for those hoping to start a career in the sector.

There are many roles in Investment Banking with the major being Mergers & Acquisition, Equity/Debt Underwriting, brokers, etc, and the way to land a job in any of these positions will depend on your particular situation, your background and experience. It's easier when you have a mathematical/finance background or degree, but if you don't, the easiest route for you will be first;

- A professional certification in Finance. I recommend CFA as ACCA/ICAN are more Accounting centric. However, CFA is tougher, costs more & usually takes an average of 3yrs to complete. But it's unarguably the most respected certification in Finance (Asset/Wealth Management). Nevertheless, if you do the maths and can't afford CFA, then i guess ACCA/ICAN are the closest.

- While your professional course is ongoing, search for an Equity Research/Trading job to enrich your CV. Even a low level job at a trading & research (equity/commodity) company will help you in learning the basics and understand the industry for started. EXPERIENCE IS KEY.

Search the top investment & asset management firms in Nigeria, reach out to people that work there on LinkedIn and try and get an internship if the first option doesn't work. I will not recommend an MBA in Finance if you don't have the necessary experience in the industry.

I believe no serious business school will admit you into an MBA program when you lack the relevant industry experience. So, if you don't have experience, professional certification (CFA, ACCA, ICAN, etc) should definitely be your first call. The you attempt to get experience. Most of the low level jobs are hardly advertised. Therefore it's pertinent to reach out to these firms. Interning or working there will even help you more in deciding what speciality you'd love to build. Do the job, complete your professional course then you'd be better placed.

Another good place to check out for jobs is the Nigerian Stock Exchange & Brokerage firms, they hire from time to time. It'll make sense to find people that work there on LinkedIn and reach out to them too. After achieving your professional certification and armed with your experience, you can then pursue your MBA, preferably a specialization in Finance. Selah.

Don't forget i consult on a range of career & business issues, hit the link in bio to find out more. I craft executive CVs too, speak at events among other things.

Hit me up on [email protected] for business inquiries.