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Investment banker: Inga

This Case Study belongs to Corporate financier.

Inga graduated with a degree in International Business and Modern Languages from Aston University, Birmingham. She now works as an investment banker for Societe Generale Corporate and Investment Banking, specialising in project finance work.

Q: Why did you choose this career?

A: I joined the SGCIB Graduate International Programme in 2005, as I thought it was a great way to get exposure to different parts of the investment banking business and to learn about how the international financial system works. Also, I was attracted by the fact that banks work with clients from all areas of business, which would allow me to get involved with a wide range of deals and clients. Energy Project Finance was my final rotation in the graduate programme, where I decided to stay, as I enjoy the work atmosphere and find the deals extremely interesting.

Q: What typical work activities/tasks do you undertake as an investment banker in corporate finance?

A: Financial modelling, writing pitches and commercial proposals, assisting in the negotiation of loan and project documentation, market research and client meetings.

Q: What do you enjoy about the job?

A: I like that in the end you have a real asset (power plant, pipeline, etc) that is built with the money lent, working with major players in the energy sector (e.g. BG, Gazprom, E.On, TOTAL), and that the business is completely international.

Q: What is the least favourable part of the job?

A: Administrative tasks which have to be done for internal controls or regulatory purposes.

Q: How does your role differ from other jobs available in an investment bank?

A: I am involved in all tasks related to a deal, whereas in other roles you can be very specialised in one task (for example financial modelling) and I have client contact even as a junior. Also on average there is less pressure (not like M&A) and I have normal working hours.

Q: What are your typical working hours and lifestyle implications of this role?

A: Typically 9am - 7pm. Although you are expected to be contactable seven days a week via phone or email, working hours are fairly regular and weekends in the office rare. Plus job security is good, as it is a European bank.

Q: Do you have to travel frequently in this role, either within the UK or overseas?

A: About once a month, outside the UK. Most of my projects are based outside the UK.

Q: How did you get your current job? (i.e. sources of vacancies, recruitment process, etc.)?

A: I received the graduate program job advert through Hobsons. I sent my CV, passed a phone interview and finally a two-day assessment centre.

Q: Did you complete an investment banking internship?

A: No.

Q: How relevant was your degree subject to securing this job?

A: I think the mix of business and French, combined with the year I studied at a good French business school as part of my degree, helped me to get the job.

Q: What tips would you give to someone looking to become an investment banker, particularly specialising in corporate finance?

A: In relation to project finance work, it is important to have an interest in the underlying business, i.e. oil and gas industry, power generation, infrastructure. It can be helpful to have done internships either in finance or in a relevant industry. Due to the technical aspects of the business, an engineering background can also be of use, but it is not a prerequisite, as you’ll see from my own profile!

Q: Have you received any training, formal or informal?

A: I had a two-week induction training as part of the graduate program, where we studied finance in general at a French business school, INSEAD. Since then, I have received training in legal documentation and financial modelling.

Q: What opportunities are available for promotion?

A: In general, if you progress well, you can expect to be promoted to Associate after two to three years, and to VP after another two to three years.

Q: How would you like your career to progress from your current role?

A: As my deal experience grows, I would like to manage deals and client relationships with less and less senior supervision and become a VP in two to three years.

Q: Is there anything you wish you’d known about the role and industry which would have helped you before you entered?

A: If I had known how important the engineering aspects of the projects are in project finance, I would have chosen a more technical degree.

Case Study sourced by Laura Rose of London School of Economics and Political Science, 18 April 2008.