May | 2014 | The End of Free

Are you seeking to become a top analyst for a Wall Street firm? The job of a Wall Street analyst is a lucrative one. This explains why thousands of applicants apply for entry-level and internship positions at leading investment banks such as Morgan Stanley, Merrill Lynch, and Goldman. You will need proper education, good diligence, and hard work to succeed as an investment analyst in one of these firms.
Investment analysts provide comprehensive reports on the performance of a company within an industry or for a particular business sector. Their roles include spotting trends and market changes that will enable an investor correctly determine which stock to hold, sell, or buy.
The most ideal way to land this job is to enroll into a recognized university and major in finance, graduate with honors and impress the investment bank recruiters looking for young talents that will fill up the investment analysis position. Below are some strategies that will help you attain your career goal as a Wall Street investment analyst.
Start Early
If you are still a student, you can start planning your career part by taking advantage of internship programs in the summer. This will help you connect with people in the industry before you are fully ready.
The youngest broker in Canadian history was David Skarica who got licensed at 18. You can read what Dave has to say about the stock market at
Specialize in a particular field
Investment analysis covers several fields such as auto manufacturing, telecommunication, or oil. Try to specialize on a particular field and gain experience. If you are an expert in a particular field, your credential will be regarded more than other general purpose analysts.
Education is the key
Education is the most basic qualification you will need for such a career. A good finance degree in one of the top universities is the right way to go. Enrolling in a top MBA program will also increase your chance of landing a job as a Wall Street analyst.
Network your way to success
If you graduated from a school not among the top 25 schools, your road to becoming a Wall Street analyst will be a bumpy one. But you can still achieve your aim only when you are ready to network and be really proactive.
Find ways to connect to Wall Street. Look at your alumni and find out those from your school who are already working there. Ask them if they could help push your resume. Connect with other people and ask people you know if they have a connection. At least, even if they don’t work there, they might know one or two people who can help.
Compound Interest – How to Compound Your Way To Wealth
There is one thing that is common among most wealthy people, and that is the power of compounding. Several self made millionaires made their money through the compound appreciation of whatever they were earning. This is also the main reason for the enormous wealth of credit card companies, insurance companies, and major banks. Anyone who utilizes this model has a great chance of achieving prosperity in future.
Any serious minded wealth builder should always recognize the importance of compound interest in the actualization of his/her goal. Although the value of the compound interest may seem negligible at the beginning, you may be amazed at the accumulated value over a long period of time. There will always be short term gratification like cars and luxuries that may distract you from focusing on your compounding goal. However, past evidence has shown that it compounding worthwhile venture if you stick to it. The delight of being financially free will always outweigh the temporary pleasures gained from buying luxuries. When you persist and finally create your wealth, you will be able to acquire all those luxuries whenever you want.
Below are some of the ways you can make compounding work for you
* The number one enemy of compound interest is procrastination. Don’t wait for too long before you begin your investment. No matter the level of income you receive, start investing immediately.
* The result of compounded amount is more visible over a
long period. Do not chase high returns by taking higher risks with your money.
* Establish a reasonable budget that can enable you save a certain amount of your monthly income ( at least 10%) for investment. This will help you stick to your investment plan for a long time.
* Try to pay down your home mortgage as early as possible. Go for a mortgage that has no prepayment penalties. In most long term mortgage plans, more than half of the payments are interest. Try to settle your mortgage loans on time so that you won’t have to throw money away in form of interest on mortgage loan.
* Do away with credit cards and other debts with high interest. These will suppress the compounding effort you are making
* Finally, do not wait until your children have come of age before thinking about investing for them. Start when they are born and in few years you will be having more than enough to take care of their educational needs.