Check Out This Opportunity to Learn More About the World of Finance

In a typical college business program, you will explore many of the fundamentals of the world of finance. There are some great opportunities though to get some hands on experience. One of the best is through the Goldman Sachs summer internship program. You will learn from experts in the industry. You don’t just shadow them, you work beside them!

Make sure you pay close attention to the deadline for the application. It is earlier than many of the other internship programs offered. If you send it in late, your information won’t be reviewed. If you wait too long to start getting it all together, you may be stressed and make mistakes along the way.

Who can Apply?

Individuals enrolled in an accredited business school who will be a junior or senior can apply for a Goldman Sachs summer internship. It doesn’t matter what your particular area of study happens to be as long as it is business related in some capacity. Applicants must be in good standing academically, show community involvement, and show an interest in business.

The application process does take time so don’t drag your feet getting started. You will need to complete all sections of the application to be considered. You also need an extraordinary resume and cover letter to accompany it. Make sure your application isn’t going to get lost in the shuffle because it sounds too similar to others submitted.

This is your opportunity to shine so don’t be shy about sharing your accomplishments. To get a Goldman Sachs summer internship, you need to share your education and work experience. You need to share your skills and your community involvement. They are looking for well-rounded individuals who are inspired and motivated to make a difference in the business world.

Learning

The Goldman Sachs summer internship is offered for a period of 10 weeks. Individuals will typically work Monday through Friday for a full shift. The first part of the learning is an orientation and overview of their business operations. Next, you will be assigned to a division where you will meet other people who work there.

You will be assigned various tasks to complete so you can learn first-hand about those aspects of a business. You will have others helping you with work tasks and those you can turn to for questions. Your work will be evaluated so you can understand what you are doing well and what you need to work on with future projects.

The goal is to help your grow your knowledge and skills in various areas of business operations. That growth will occur over the span of your Goldman Sachs summer internship. This is also a prime opportunity for you to explore various aspects of the business world that interest you. Asking questions and getting insider facts and opinions can help you to determine your path.

Future Job Offers

This Goldman Sachs summer internship could be your foot in the door to a great entry level position upon graduation. The company is known for frequently making such job offers to those who show exceptional potential during the summer program. You can also decide to apply with the company in the future for a job opening.

The fact that you were once part of their summer intern program isn’t going to go unnoticed. It can help you to stand apart from other people applying for that same position. Being able to secure a job with such a remarkable company can be a dream come true!

The Latest Trend In Doorstep Loans

These days, individuals frequently have no opportunity to visit loan specialist’s office to apply for quick cash bolster. Henceforth they begin asking financial assistance from relatives and companions that is exceptionally humiliating. Be that as it may, no more you need to shoulder the disgrace of looking for assistance from companions for banks and facilitates everywhere throughout the United Kingdom have presented Doorstep loans. As the very name suggests, finances under this cash backing is conveyed comfortable doorstep. Additionally, the sum affirmed is all that anyone could need for all your unimportant needs that look for your moment consideration.

Until the point that a couple of years back, applying for extra subsidizes was a testing assignment as you were requested to experience repetitive customs. You were solicited to submit piles from archives. Actually, it took a very long time to finish the whole procedure. The greater part of the circumstances, when you got an endorsement, the requirement for stores was finished.

Be that as it may, things changed with online machine mode that scarcely took a couple of minutes of yours. Simply peruse pages and you will run over different banks offering moment cash backing. Because of regularly expanding rivalry among moneylenders, it has turned into a great deal less demanding for you to pick the loan specialist that offers bargains according to your need.

Render your own subtle elements on an online application frame yet ensure it is finished and exact. Numerous loan specialists may get in touch with you inside no season of applying. You can choose from bargains that suits your current needs. In the event that they are happy with your data, assets may be authorized into your bank tally and you can sue it the way you need with no confinements. From paying pending power charges, Visa charges, stockpiling charges; obligation solidification, child’s instructive expenses to traveling, meeting wedding costs and therapeutic urgencies, you can do everything.

Regardless of where you live in the United Kingdom, you will get cash comfortable home as 12 Month Loans. Assets will contact you either as cash or as a check. Loan specialists will charge financing cost contingent upon your current settled pay and reimbursement capacity. Sometimes, reimbursement residency is additionally broadened. Here, loan specialists charge extra expense for late installment. Be that as it may, paying extra sum isn’t an issue as you can dispose of every one of your inconveniences without running all over.

There is all around the energy among the general population about getting the sum specifically at the entryway with no dreary undertaking by any stretch of the imagination. What’s more, the news is valid and spread like a fire over the United Kingdom. In this way, it is awesome time for those individuals, who used to go to the entryway of the bank keeping in mind the end goal to have exchange about the loans. However, now, the time has come to desert the conventional framework for the acquisition of the earnest bucks in light of the fact that the presentation of doorstep loans UK has been influenced the impact in the finance to advertise.

In this way, the borrowers don’t need to squander their valuable time in going all over on the grounds that the sum something like 100 to 500 is specifically dispatched at the home of the candidates inside round the clock. There is no prerequisite of playing out the hassle full customs. In this way, influence a call to the appropriate loan specialist with the sensible enthusiasm to rate and get the sum as ahead of schedule as could be expected under the circumstances.

What Recruiters in Finance Want to Hear in Response to Their Interview Questions

When you have your first interviews for positions in finance, it’s hard to know exactly what recruiters expect you to say. I know that because I was once a candidate and I did a lot of interviews. Then I became a recruiter and I saw the other side of the curtain. What I became aware of through the years is there is a group of questions that almost always come up in every interview. These questions give a lot of information about the candidate. While it is true that you should not lie to a recruiter, you have to be sure the way you answer will show you are the best fit for the job.

Here are these recurrent questions and the answer you should or shouldn’t give to them.

1 – Tell me about yourself

This one is the all time classic. It is certain a recruiter will want you to give a quick overview of your resume. The key to answering this question is to be concise. Do not try to say everything there is on your resume. Focus on the experiences which are relevant to the role you are applying for. You also need to adapt to the person that is in front of you. If it is someone from the human resources for example, avoid any technical detail that wouldn’t be understandable/ interesting to him. You would rather want to emphasize how you were a good asset for the team you were in.

If your interviewer is someone from the business, you can enter a little bit more into the details of what you did. But keep in mind that what they are looking for before everything is whether they will be able to work with you. If you are losing yourself into too much details, this can give a negative image of your ability to communicate efficiently.

2 – What do you want to do?

If you are applying for a summer internship or a graduate program, you may be interviewed by someone who doesn’t work at the desk you ultimately want to join. You still have to express what you really want to do, so you should have a precise idea of it. Additionally you have to be able to give specific reasons on why you made this choice. Do a lot a research, and above all: show your interest. Recruiters don’t want people who don’t have a genuine interest for the job, and are only there because they smelled money.

However you have to show that you are still open to a change of mind. An internship in a bank is designed to make you discover several aspects of the business. Show that this internship won’t be only a tool for your career, but that you are willing to discover new things.

3 – Do you prefer working alone or within a team?

In Finance, team work is obviously really important. Most candidate know that and answer this question by saying they don’t really like working alone, and they prefer working in a team. That’s not a good answer.

In your job there will be times when you will have to work alone, and be really efficient by yourself. If you say you cannot work alone they will think you are the kind of person that always asks a ton of questions, and can’t figure a thing out by himself.

The good way of answering the question is to show that you are good in both situations, and that working in a team requires you to bring forward you own individual ideas and work. If the recruiter insists on you making a choice, you can give a reason of why you prefer one, without excluding the other. For example you could say something along those lines: “I prefer working in a team because it is rewarding to feel that the specific skills of different people can be put together to reach an ambitious goal. However I know that sometimes you have to go forward by yourself in order to best support the team.”

Give examples from your experiences/ years at universities of time you were good in both situations.

4 – Why do you want to do this job?

If you don’t know the person in front of you, do not talk about money. While it is true that some interviewers accept this answer (and some even looking for it), most of them will try to see if you have other motivations behind the salary. The fact that a good remuneration is a motivation for the job is known and implicitly admitted. Instead you can talk about the challenge the position represent for you and why doing the job will be rewarding for you

5 – Where do you want to be in five years?

I interviewed several candidates that had a career plan as precise as a military map. They want to have a particular job next year, then become an associate in 2 years, then become a manager in 5 years etc.This actually give a bad image of the candidate. It shows how naive he is of what is really the professional world. You need to give general orientations of where you want to go, and what you would want to accomplish as a professional. Show that you have a vision of the future, and give a subtle hint of your ambition. Do not establish anything as certain though.

You also want to avoid sounding overly ambitious. If you say that you absolutely want to be the manager in the shorter amount of time possible, the recruiters will see you as a potential source of conflicts within the firm, because of the political maneuvering you may employ to reach your goals.

Does Social Media Help In Getting An Auto Loan?

We live in a world dominated by technology and social media. Whether they are your shared posts, status or your connections, social media platforms play a key role in carving your virtual personality. A well-known fact is that technology is an inevitable yet an integral part of our lives. When it comes to financing your car, social media is building its way and becoming a relevant medium of profiling. For instance, John walked into a dealership to purchase and obtain financing for a car. The quickest and easiest way to search for a tentative background of John would be to get a grasp of his personality on the basis of his behavior on Facebook and Twitter account, respectively. Currently, a small percentage of lenders use social media for judging an individual’s creditworthiness. However, the developing presence of social media is gaining mind share of the lenders.

Can Social Media help in ascertaining the Creditworthiness of an individual?

1) Facebook can build your Credit Circle

The very essence of Facebook lies in networking. A creditworthy profile does not require millions of posts or many friends. However, if you have a genuine profile and do not pose any abnormal social behavior, your profile is likely to get approved for an auto loan. Additionally, the presence of certain contacts in your friend list with a clean history and a strong credit score further add to your creditworthiness. Lenders can look for mutual contacts that have been previous customers. The payment history of the mutual contact can then be used as a basis to judge your creditworthiness. In order to get the most out of your circle, seek a person with a good credit score and make him a cosigner and your auto loan process will become smooth.

2) With LinkedIn, lenders can check your Employment Stability

A stable employment speaks volumes about your personality and trustworthiness. LinkedIn can serve as the best source of obtaining information regarding your job history, duration, professional position and interests. The documentation of an auto loan requires you to display evidence of a source of income through pay stubs. However, there is less proof one can gather regarding the stability of employment. Social media can become a tool to ascertain not only if there is job-hopping, but also the financial strength of the individual. A person with a 500+ connections, long duration of employment history and a considerable profile activity can become a favorable applicant in the eyes of the lender.

Buying a Car: Making the Most of your Social Media Profile

Social media has made its way into the minds of auto buyers as well as lenders. As primary sources of guides, nothing comes above your credit score, current income status and payment history. However, virtual platforms such as Facebook and LinkedIn are starting to occupy mind share in terms of creditworthiness. Once the primary sources of information seem insufficient, lenders may turn to social media to get an idea of your personality. A few helpful ways to make sure your social media positively adds to your credit score is to be careful with your online posts, invite only genuine friends into your virtual circle and to always keep your professional profiles updated.

Check Out This Opportunity to Learn More About the World of Finance

Getting a taste of the real world jobs out there that pertain to your area of study can be an eye opening experience. You will work side by side those that do this type of work day in and day out. Such information can further fuel your passion for the career path you are on. It may help y to narrow down the specific area of the field you wish to go into.

With a Citi summer internship, you will have an unforgettable opportunity to get onboard for such learning experiences. These positions are limited though so you need to pay attention to the deadlines for applying. You also need to submit all of the requested materials with your application. Otherwise, you may not get that position you really wanted.

Large Financial Institution

They are one of the largest financial institutions available. They want to do their part to help encourage others to get involved in the world of finance. There is a wide spectrum of types of jobs that fall under the umbrella of their services. The various Citi summer internship areas include finance, technology, human resources, global transaction services, and commodities.

Apply for the ones that you are the most interested in. If you apply for more than one, you can only select one to take part in. However, applying in more than one area does improve your chances of being selected. Your dilemma at that point would be deciding which one to accept if you accepted for more than one. That is a bridge you can cross when you get to it!

Who can Apply?

You are eligible to apply for a Citi summer internship if you a junior or senior in college, you are a graduate student, or you have recently graduated from college. In addition to business skills and experience, they are looking for those who excel in the areas of communication and integrity. A passion for a career path in business is a strong asset they look at when deciding.

You can apply for a position in the USA, Africa, Europe, or the Middle East. They have a very diverse business culture with locations all over the world. Being able to work in your location or being able to get an internship in a location you wish to travel can be very appealing.

Payment

It is also encouraging that you will get paid for your participation in a Citi summer internship. This is good news because many companies offer internships that aren’t paid. They feel the experience they teach you is compensation enough. Being able to work for an excellent company like this and get paid to do so is the icing on the cake!

The amount you will earn depends on where you work and the common entry level salary offered by Citi Bank in that area. The specifics about work hours and payment for the position can be discussed once the offer is extended to you.

Application that Rocks

As you can imagine, there are plenty of people applying for the various opportunities. You need an application that rocks to be considered for one of the Citi summer internship positions. Complete the application neatly and providing as much information as possible. Your supporting documents including your resume and cover letter need to be exceptional.

Focus on sharing your experiences, your education, and your future goals relating to the world of business. You will need to provide letters of recommendation so ask for those early. Get them from professionals you have worked with, long term family friends, past employers, and others who know your work ethic and character. The Citi summer internship can be a dream come true!

Judge Some Facts Before Exchanging The Money

When you will go traveling, then you have to take the things, which you will need in that place. It is necessary because you will not get the facilities of your home there and you have to be prepared for every situation. But when the matter comes to the visiting of a foreign country, then apart from our excitement we have to think about the thing first is the money. As all of us know that there is variety in the currency of different place. So, we must take the proper currency of that place as we cannot do anything without it. There are some methods, by which you can exchange the money, like the banks, the ATMs or from some brokers.
The banks are the most reliable medium for exchanging the money. You can be assured by the fact that you will get the service authentically. They will systematically exchange the currency and you don’t have to think about it. You can also convert it from the banks of that place also. You will get the same reliable service. But as you are going to a public sector, then it will take some time and you have to wait for it. So, if you don’t have the time to wait there, then you will face difficulty by exchanging through the banks. The banks also charge high rates for converting the money, then it can be expensive for you.
You can take the money from the ATMs also. It is the most convenient medium for getting your cash, as you yourself will draw the money and you don’t have to depend on someone for this. So, you can take the money whenever you needed and it is the fastest service. But there I also the problem, as the ATMs charge a very high price for drawing the money. It will become more expensive for you as you have to pay more than the normal transaction. If you think that you will get the money at a time, then also it will not be safe for you to carry so much money to an unknown place. But with every transaction, you have to pay the charge.
When you will try to go some brokers for Cash Exchange, then it becomes easy for you as you can get the money by sitting at your home. You can do it by online and the agent will come to your home and will take the money from you and will also return it within the given time. It can be a suitable option for you as you don’t have to do anything for the exchanging the cash. But there also can be a problem as the matter is about your money, then you have to be a little careful and have to know about the broker and the agent, who will be the medium of transaction. If they are not reliable enough, then your money will not be safe enough. There is also the matter of the false currency as it has happened in the services like Australian Currency Exchange. So, be careful about every facet of exchanging your money so that you don’t have to waste your money in the wrong place.

Top 6 Advantages Of Student Loans

It is just a common myth that only the federal loans provided by the UK government are cheaper and easier to repay than the student finance options provided by the private direct lenders. However, if you see the APR and repayment modes, then you come to know that private student loans are the clear winner! Let’s have a quick look at the top 6 advantages of education funds offered by the direct lending companies:

Borrow Short-Term and Long-Term Funds

Whether you are looking for a big amount to complete the higher education course, or need short-term funds, to give just hostel and tuition fees; both options are easily available and you can access the required funds in less than 24 hours without facing any hurdles. You can ask the lender to transfer funds directly to your bank account or deliver to your doorstep.

No Documentation to Waste your Time

The time of a student is very precious and instead of taking stress about the cash, he should focus on studies. Direct lending companies know the importance of young generation in the development of the UK and hence they offer paper free student loans plans. You are not required to submit your last class mark sheet or the address proof.

Apply Online in Just 2 Minutes

You don’t have to bunk classes or take leaves from the college, just open your laptop or smartphone and apply for the student finance loans on any reliable direct lending website. You would need just 2 minutes to complete the online application procedure. No hard copies or soft copies are required.

Avail Funds with No Guarantor

Students don’t have a big network to arrange a guarantor. They are dedicated towards their studies and interact less with people. Arranging a guarantor is an embarrassing task for them as people are not ready to co-sign their application. They can easily access student education loans with no guarantor and no broker by applying to a reliable direct lender.

No Hurdle of Bad Credit History

Some students have bad credit issues due to pending credit card bills or some other reasons. Banks and conventional lending companies don’t entertain their funding requests. However, they can easily secure the cash by applying student loans to a bad-credit friendly lender. There are no hidden charges. You can compare various deals and grab the best one with the lowest APR.

Easy and Flexible Repayment Modes

Everybody knows that a student can’t repay funds during his education time. He doesn’t have a steady source of income. Direct lenders offer various student repayment plans that can be chosen as per comfort. You can either start repaying in installments from the next month or repay the total debt in instalments after completing your education.

Why MBA in Finance Is Better Than CA As a Career Option?

Admission season is in full swing, with the onset of monsoon. Students are preparing for various exams that can give them a ticket to pursue higher studies in various fields. Chartered Accountancy or C.A. as it is popularly known is considered the highest qualification for a commerce student and it used to be the dream of a bright commerce student to pursue C.A. However, with the changing global trend many commerce students are now opting for MBA in finance as it gives them the opportunity to rise in the corporate hierarchy.

A crucial factor that has lead the commerce students divert their attention, energy and resources away from a reputed professional course like C.A and opting for MBA in finance is long duration. For pursuing C.A, you require a lot of work hard, perseverance and above all long years. It sometimes happens that some people who start to pursue C.A in their twenties and end up finishing it in their thirties. It is highly specialised where the aspirant has to give their 100% efforts and time.MBA is a two years programme and at the end of that you get a placement with some reputed business house.

Moreover, the course is more about the theory and less of practical learning. In corporate world working in real-life scenario matters more than having theoretical knowledge. Thus, they prefer candidate with MBA in finance as these professionals have an experience of working in stimulated situations like summer internships programme, thus have an eagle’s eye view of various business operations.

Doing MBA in finance definitely gives you the benefit of developing an insight into the world of business. As a part of management programme, you will learn about every single aspect of the business management and operations that will you versatility to handle not only the financial matters of the company, but also make you multi-tasking who can handle every matter of business.

Contrary to this while pursuing C.A, you would learn to various monetary like Taxation, International Accounting (GAAP), Internal Audit, — to name a few. But hardly develop an intuitiveness to deal with the real life financial crisis, due to the lack of practical learning. Thus, you do not develop acumen for planning strategic moves for the company in the time of any monetary crisis. Whereas, an MBA in finance can handle different financial operations and also have acumen and vision that make them brilliant strategists. Thus, many companies hire these professionals.

Above all these after completing your C.A, you can join a company and can climb up in the hierarchy and become a CFO, while an MBA in finance can take to the highest position in the chain of command and you can become a CEO. Thus, in corporate world a management professional have better prospects.

According to ICAI, the percentage of candidates clearing C.As examination is around 15-20%, whereas the number of designations for such qualification in the corporate world is not enough to accommodate everyone. While in companies MBA placement does not pose any problem there are number of designation from executive to managers who work as team to deal with the finances of the company.

The purpose of this article is not to degrade any profession or professional qualification as no profession is insignificant. I cannot imagine a smooth administration of the financial matters without a Chartered Accountant, who files my I.T returns and audit my monetary transactions efficiently. However, the aim is to project the advantages of an educational programme like MBA in finance which is not seen by many as a means to achieve growth, prestige and of course money.

Finance Careers: Investment Banking Associate

As second-year MBA students chatter at cocktail parties, one of the major topics of discussion is who landed investment banking offers. Although the reputation of investment banking has taken a beating following the 2008 financial crisis, corporate finance jobs are still an incredible way to gain valuable business experience and earn a handsome paycheck.

Since the financial crisis, many perceive investment banking to have changed forever, and in many ways, it has. But there will still be IPOs, mergers and leveraged buyouts and a need to raise capital to grow businesses, and that means there will be jobs for those who have what it takes to succeed in corporate finance.

For the MBA, the typical entry job into the corporate finance department is an associate position. It’s a demanding slot, but it’s one rung above an analyst position, pays well and leads to great client exposure and business experience. So what will it take for an MBA to secure an associate position?

From B-School to I-Banking

Yes, corporate finance looks for bright individuals who can clearly articulate business insights and who will dazzle clients with social skills. But at the associate level, investment banks are also looking for MBAs that have strong finance experience and are driven and disciplined.

In terms of experience, bankers are ideally looking for candidates with previous corporate finance experience. Such experience could be a pre-MBA stint as an analyst or a summer internship with an investment bank. Firms also tend to value candidates with Big Four accounting experience, commercial banking experience or other positions that require significant exposure to finance and accounting.

Similar to the analyst hiring process, interviews for associate positions can be intense, and the ante is upped for candidates who have completed graduate programs and will be expected to work more closely with clients. Associate candidates should put in several hours of practice interviews and be prepared for all sorts of questions. For those who have already gone through the interview process as an analyst, the interview won’t be as intimidating (otherwise, get ready!).

Interviews may involve several rounds, culminating in a “super Saturday” round in which the top candidates meet with all the bankers at the firm for another round of interviews and socializing – giving the firm an opportunity to see which candidates are the best cultural fit.

As with most interviews, candidates must be prepared to impress the firm with their intellect and skills, but more importantly, they must prove that they are a likeable person that will work well with the firm’s employees. For candidates who receive offers, it’s time to get ready for life as an investment banking associate.

The Corporate Finance Quarterback

There’s a good reason why associates earn a healthy salary and a large bonus each year. In short, they are the quarterbacks of the corporate finance office. They may have analysts to whom they can assign projects, but they have to juggle multiple projects from multiple bankers with complicated schedules. Managing the analysts is no easy task either, as each of them are pushed to the max with their project workloads.

Like analysts, associates may start their day at 8 am and not finish it until 1 or 2am – and sometimes may not go home at all. They come in on the weekend to stay on top of projects and ensure that documents and presentations are completed with enough time for thorough editing. Associates usually put in as much time as analysts – often 80 to 100 hours a week at New York firms or 60 to 80 hours at firms off of Wall Street.

The Deal Cycle

Associates play a key operational role in the deal cycle of the corporate finance department. In the deal cycle, investment bankers – the vice presidents and managing directors – will either approach or be approached by companies with ideas for potential transactions. These deals may include IPOs, follow-on offerings, private placements, mergers and acquisitions.

Bankers will set up a meeting with the company called a pitch, in which they pitch the services of the firm to the company and present their analysis of the feasibility of the potential transaction.

At the pitch, the bankers will present the potential client with a pitch book – usually a hard-copy PowerPoint presentation that describes the credentials of the bank along with a detailed analysis of the market in which the company operates and often a valuation of the company itself.

If the company is impressed with the firm and interested in pursuing a deal, then it will engage the firm to execute the transaction. Depending on the type of transaction and the conditions of the market, these transactions can take anywhere from a few months to a few years to complete. At any point in time, bankers can be working on several pitches and deals all at once.

What do Associates Do?

Analysts tend to work on the front end of the deal cycle, working on pitch books for the bankers. Associates also work on the front end of the deal cycle, overseeing and editing the work of analysts in the preparation of pitchbooks.

But associates also assist in the execution of deals – preparing sales documents for various transactions, editing prospectuses and even discussing due diligence materials with potential purchasers in M&A and other transactions. As associates gain the respect of senior bankers, they may get to accompany the senior bankers on pitches and become more involved in business development.

A first-year associate may initially perform many of the same analyses as analysts – comps, DCFs, LBO, etc. – but associates eventually transition to more senior level work. Rather than cranking through the template financial models that analysts work with, some may redesign these models or build models specifically for particular deals.

Much of the legwork that associates perform involves spreading client financials to share with potential investors or drafting private information memoranda for M&A transactions or private placements. Because of the nature of this work, associates often work closely with clients, speaking with CEOs, CFOs and other members of the management team to assemble relevant information for sales documents.

Associates quickly learn to charm clients while at the same time leaning on them to provide timely, detailed information for sales documents. Corporate finance transactions can be extremely stressful on clients (and associates), and associates must be able to navigate tough situations where clients have become fatigued and emotional by the deal process.

The Perks of Being an Associate

Despite all the pressure and long hours, there are some payoffs for associates who stick around. Depending on the firm, starting salaries for associates can range from $100k to $150k, but when you add in bonuses that are often north of 50%, total compensation can range from $150k to $250k.

Many firms have a policy that when employees have to stay at work past 7pm, they get their dinner paid for. Like analysts, associates stay past 7pm nearly every night, so free dinners can quickly add up to a lot of money.

Other perks often include reimbursement for cell phone or blackberry bills, free cab rides for late trips home and the occasional opportunity to celebrate with other bankers at a lavish closing dinner.

Career Progression

If an associate chooses to leave the investment banking world, their experience can often be leveraged to move into positions that would normally require more experience. Investment banking is incredibly rigorous work with associates wracking up double the hours of the average worker and performing their work at an intensity level that is among the highest in the business world. It is no wonder that they have an easy time excelling in other careers.

For associates who hang around, two or three years of experience usually leads to a promotion to a vice president position. Hours for vice presidents may be a bit lower, but travel is a good bit more.

A high-performing vice president can make the jump to senior vice president or managing director after several years. Although the hours and seniority of these positions may be slightly more appealing than an associate position (senior bankers can still be found at the office on many weekends), they also bear much more responsibility for bringing in new business.

Like any career, anyone considering an associate position at an investment bank should look beyond just pay and prestige and think about whether or not they will enjoy the work. Some of the most valuable benefits investment banking has to offer are the incredible experiences of working with companies during pivotal times – and the character that those experiences build.

Adam Fish, aka Professor Fish, writes on educational finance topics at Finance Ocean – an educational resource to help people broaden their knowledge of finance.

Top 5 Benefits Annuities Can Bring Except The Lifetime Income

Earning a consistent income in their retirement life is a major concern for the seniors approaching their retirement and many of them invest in different annuity insurance plans. These annuities help the insured to receive a guaranteed income for life protects from the fear of outliving their savings. Also, if a senior couple hasn’t saved enough or doesn’t have someone to support after their retirement, these policies help greatly to take care of their daily expenses and maintain a better lifestyle. However, the majority of seniors isn’t aware of all the benefits an annuity can bring. Most of them buy an annuity solely to receive a guaranteed income in their retirement life but the annuities have a lot to offer. Here, we are going to explain five more benefits of a retirement annuity plan that you might not be knowing.

Benefit to your loved ones

At times, seniors pay a long series of premiums to earn them back during their retirement but die at an early age without receiving the complete benefits. Many seniors die soon after their retirement and insurance providers keep their share of investment with themselves. But, the new additional feature allows transferring the benefits to the beneficiaries, if the insured dies early. Along with the immediate annuity plan, you can choose a guaranteed period of 10-20 years that are calculated since the time you start receiving the payments. If you opt for a 20-year guaranteed period with the annuities, your insurer will provide a series of payments for exact 20 years. You can name your spouse or kids as the beneficiary and they will receive the benefits for rest of the period, in case you die early.

Tax deferral on earnings

Most of the investments are applicable for state and federal taxes, but the investments such as interests, annuities, dividends and capital gains earn a tax-deferred status. These investments are tax-free until you withdraw the accumulated amount. The tax-deferral is similar to 401(k)s and IRAs, but there isn’t any limit on the amount and you can put any amount into the annuities that you assume enough to spend your retirement comfortably. Moreover, the minimum withdrawal criteria have more flexibility than that of to 401(k)s and IRAs.

Tax-free investment transfers

Market performs differently at a different time and an investment performing strong today may perform poorly after a certain period. Hence, investors keep transferring their investment amount form one to another fund and there are financial advisors to help with the same. Usually, these investment transfers or rebalancing are applicable for taxes but the annuity retirement plan has no such tax consequences. That means, you can rebalance your investments as per your financial advisor’s suggestion and you won’t have to pay any taxes on that.

Protection from lenders

People take different types of loans to match a better lifestyle and pay the due amount in installments. At times, people reach a stage where they only have the money enough to take care of their fundamental requirements and aren’t able to pay the loan installments. In such cases, if the lender files a lawsuit, they may lose the return on the investments made. Annuities insurance policies also help protect your investment return even if you can’t make the installments. Usually, the premiums you have made to your insurance provider, belongs to them and there are laws that restrict that money to be accessed by the lenders.

Variety of investment options

Insurers help the investors with a range of annuity options at retirement including the fixed and variable one. The first one credits a certain rate of interest on the amount you deposit while with the later, your money is invested in the stock or bonds like mutual funds and provide a return based on the market performance. Also, various insurance providers have introduced different types of floors that set a limit by which your investment value may not fall further. That means, if you have invested in a variable annuity, you return won’t fall below a certain value, despite the fluctuations in the market.