Investment banking is a special segment of banking operations. Those who work in investment banking help companies or individuals raise capital and receive proper financial consultancy. While it appears simple, investment banking is a complex financial mechanism; therefore, it’s not that easy to become an investment banker.
Still, investment banking careers are demanding but also rewarding. There’s an immense opportunity for career growth, and an investment banking career is an ideal stepping stone to other more prominent careers in finance.
If you wish to learn more about this area, you should definitely check out some of the best investment banking books. These will give you an overall idea of what you’ll do as an investment banker or analyst.
List of top money and banking books:
- Investment Banks, Hedge Funds, and Private Equity
- A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing
- The Intelligent Investor
- The Hedge Fund Book: A Training Manual for Professionals and Capital-Raising Executives
- The Business of Investment Banking
- Breaking Into Investment Banking
- The Best Book On Goldman Sachs Investment Banking Jobs
- Investment Banking: Institutions, Politics, and Law
- Investment Banking for Dummies
Why Should You Read Some of the Best Finance Books?
Since investment banking is a highly specialized field, you’ll have to spend some time learning what you’ll do once you get into the industry. If you have no touch with financial operations, these books will be a valuable tool to get you thinking in the right direction.
There are many great finance books out there that can also teach you how to become an investment banker. Still, know that you’ll probably have to get a specific degree or certificate to get into the industry.
On the other hand, if you’re already employed in the finance sector, reading finance textbooks can only help you expand your knowledge and provide better service to your clients. You’d become a better employee. Learning new things may also help you land a promotion.
Where to Start With the Best Books for Investment Banking?
Getting started with investment banking books can be overwhelming, as there are so many books on the market that promise to give you the ultimate knowledge of the topic. However, know that not all investment banking books are equally good, and you might not enjoy all of them.
First and foremost, you should vet the author of the book. People who are already actively involved will provide better advice. Additionally, check the book reviews and synopsis to see if the book will answer your questions.
9 Best Books for Investment Banking for 2024
Investment Banks, Hedge Funds, and Private Equity
About the Book
This is the 3rd edition of David Stowell’s investment banking textbook, with the revision of multiple chapters, updated figures, tables, and data. David Stowell also added three new case studies for readers to learn from. Plus, this edition includes templates for real transactions and way more content related to liquidity in secondary markets.
This is one of the best private equity books, which includes an overview of high-frequency trading, electronic market-making, quantitative trading strategies, and the evolution of cash equities.
According to Roberto Ragozzino from the University of Tennessee, this book also covers some of today’s most relevant topics in the world of finance.
About the Author
David Stowell is a clinical professor of finance. Before devoting his life to teaching, he worked at JP Morgan as Managing Director and Head of Midwest Investment Banking. He was also employed at UBS Investment Bank as Managing Director and Co-Head of Equity Capital Markets.
Stowell also worked at Goldman Sachs as Vice President for Corporate Finance and at O’Connor Partners as Managing Director for Equity Derivatives. This makes him qualified to write the best investing books for beginners.
Purchase Link
If you wish to purchase the 3rd edition of Investment Banks, Hedge Funds, and Private Equity, visit the following Amazon link.
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing
About the Book
The latest edition of A Random Walk Down Wall Street deals with behavioral finance – a field that studies the psychology of investment decisions. This is a best-seller when it comes to the best Wall Street books that cover investing.
The author covers a range of investment opportunities, starting with stocks and bonds, including real estate investments and homeownership. The latest edition also includes Bitcoin investments and some new strategies for getting into tangible assets.
A Random Walk Down Wall Street is one of the Wall Street books you’ll want to read before building your portfolio or 401k. Being one of the best investment books for young adults, A Random Walk Down Wall Street is highly rated on Amazon, with many positive reviews.
About the Author
Burton Malkiel is an American economist widely known for writing this book, which was first published in 1973. Today, Malkiel is the Chemical Bank chairman’s professor of economics at Princeton University.
He also served as a member of the Council of Economic Advisers, president of the American Finance Association, and dean of the Yale School of Management, which is more than enough to help him write one of the top breaking into Wall Street guides.
Purchase Link
If you’re interested to learn more about how to start your investment and build a successful portfolio, you can purchase this book on Amazon.
The Intelligent Investor
About the Book
This book was written by one of the greatest investment advisors of the 20th century, Benjamin Graham. The book focuses on value investing, which protects investors from errors and helps them create long-term investing strategies.
The Intelligent Investor was first published in 1949, but still carries many valuable pieces of advice, regardless of the changes in the financial world.
This is one of the best investment books of 2022, with a revised text and updated commentary by Jason Zweig, a financial journalist. Zweig’s perspective includes today’s markets and helps the readers implement Graham’s principles. Many would say this is the most important book you’ll want to read if you wish to reach your financial goals.
About the Author
While the original author is Benjamin Graham, Jason Zweig also added some value, and Warren Buffett is a collaborator. Benjamin Graham was born in 1894 and died in 1976. He was a British-born American economist and professional investor, which helped him write the best investment books of all time.
Jason Zweig is an investing and personal finance columnist for The Wall Street Journal, writer at Money magazine, and mutual-funds editor at Forbes magazine.
Warren Buffett is one of the world’s most famous and most successful investors with an incredible net worth of over $117 billion.
Purchase Link
You can purchase this book on Amazon and start learning how to invest wisely.
The Hedge Fund Book: A Training Manual for Professionals and Capital-Raising Executives
About the Book
When it comes to some of the best hedge fund books, this training manual is a great guide for those who are already in the financial industry, especially hedge funds. The Hedge Fund Book gives insight into real-life case studies of multiple hedge fund managers.
This information can become a solid foundation if you wish to specialize in working with hedge funds or are willing to get into this industry.
The Hedge Fund Book addresses everything you want to know about day-to-day hedge fund operations. This is ideal reading material for investors, bankers, and financial professionals and is among the best books on banking and finance.
About the Author
Richard C. Wilson is CEO of The Miami Family Office. He’s also the founder of Wilson Holding Company which produces over $10M in annual revenue via various operating businesses.
Wilson received his undergraduate degree from Oregon State University, and his MBA from the University of Portland, and he also studied master’s level psychology through Harvard’s ALM program.
Richard spoke at about 150 conferences in 17 countries and has published the best-selling book on the family office industry.
Purchase Link
If you wish to purchase one of the best books about investment banking, head over to this link.
The Business of Investment Banking
About the Book
The 3rd edition of The Business of Investment Banking covers the latest shifts in practices, trends, regulations, and statistics in the industry. It acts as a comprehensive overview of investment banking, suitable for professionals and students.
This investment banking workbook also explains the changes that occurred since the 2008 financial crisis. It also discusses new opportunities for people in the industry looking to advance their careers.
Being one of the best investment banking books you can get in PDF, The Business of Investment Banking also covers investment banking in BRIC countries, which are now crucial for the quarter of the global economy.
About the Author
Thomas Liaw wrote numerous books on finance, including Capital Markets, Foundation of Fiance, Investment Banking and Investment Opportunities in China, The Routledge Handbook of Fintech, etc.
Besides writing some of the best books on investment banking, Liaw is also a Professor of Finance at St. John’s University and a writer of many articles related to acquisitions, repurchasing agreements, banking, swaps, and market risks. Liaw’s consulting business specializes in investment management and securities.
Purchase Link
Thomas Liaw’s book is available on Amazon.
Breaking Into Investment Banking
About the Book
There are two books about getting into investment banking – Breaking Into Investment Banking: An Unorthodox Approach and The Art of Breaking Into Investment Banking. Today, we’ll cover the first one.
This is one of the books for finance majors who are willing to adopt the right mindset, outlook, and strategies to earn their seat among other financial experts. According to the reviews, Breaking Into Investment Banking: An Unorthodox Approach has everything you need to change your mindset and make an informed decision on getting into the industry.
About the Author
Breaking Into Investment Banking is written by The ibanker, an entrepreneur and financial advisor who worked for a large investment bank in London.
Another author of this investment banking book is A.N. Oveissi. Oveissi is an investment banker, advisor, and co-founder of several startups. Both of these authors wrote other best books on investment.
Purchase Link
If you wish to read this book, head over to Amazon to buy it.
The Best Book On Goldman Sachs Investment Banking Jobs
About the Book
The Best Book On Goldman Sachs Investment Banking Jobs is made to help you with your job application, interview, and admission process for an internship and full career in investment banking.
It contains a complete guide to the application process, lists of resources, and tips and tricks to help you polish your resume. This makes it one of the best investment banking books for beginners who wish to enter the market and succeed in job interviews.
What’s more, this book also has sample questions that you might get during a job interview and a section that prepares you for what you should expect once you get the job.
The Best Book On Goldman Sachs Investment Banking Jobs will teach you how to nurture the qualities of an ideal candidate. The book also covers the good and the bad of working at Goldman Sachs, and teaches you more about various roles in the company.
Make sure to include it in your Goldman Sachs reading list, as it’s one of the best investment banking books to get you started.
About the Author
Lisa Sun graduated from Harvard Business School. Lisa also studied International Studies and Business in the Huntsman Program at the University of Pennsylvania. She works as a Senior Associate at a secondary private equity firm in New York City.
Sun also worked in investment banking at Goldman Sachs in New York, which helped her write the best finance textbooks, including The Best Book On Goldman Sachs Investment Banking Jobs.
Purchase Link
To purchase Lisa’s book, head over to Amazon.
Investment Banking: Institutions, Politics, and Law
About the Book
This book provides insight into the historical evolution of investment banks in capital markets. It also covers the recent changes to these types of organizations. The authors mostly focus on how networking in investment banking changed during the last three centuries.
They explain how networks were formed and also describe how investment banks incorporated the regulatory side of the financial market.
Investment Banking: Institutions, Politics, and Law is written for those who wish to better understand the past and the future of investment banking, which is why this is one of the best books on investment banking.
The best thing is that the theory discussed in this book can still be applied to the industry today.
About the Author
This book is written by two authors, Alan Morrison and William J. Wilhelm Jr. Alan Morrison has conducted research with the main focus on commercial and investment banking. He has published his work in several journals. Morrison worked in management, consultancy, and investment banking before taking his doctorate at Oxford.
William J. Wilhelm Jr. is also focused on writing about investment banks and securities offerings and has published his work in many journals as well, which helped him co-author top investment banking books.
Purchase Link
If you wish to learn more about the history of investment banking and the laws that shaped the industry, visit this link to purchase the book.
Investment Banking for Dummies
About the Book
Investment Banking for Dummies will help you apply the fundamentals of investment banking and understand the latest changes that occurred after the financial crisis. This is one of the investment banking books recommended on Reddit that will get you a higher score in your investment banking course.
Investment Banking for Dummies has everything you need to get started with investment banking, find out what investment bankers do and how they manage finances, mergers, and acquisitions.
With this book, you’ll know how to perform industry analysis, dig into the details of discounted cash flow analysis, structure a leveraged buyout, and determine a return on equity.
This is one of the ultimate books about finance and investing that also covers new topics and regulations that define the market, plus the tools you’ll need.
About the Author
This book is written by two authors, Matt Krantz and Robert R. Johnson. Matt is the stock market and IPO reporter for USA Today, and he covers the financial markets and Wall Street.
Robert is a Professor of Finance at Creighton University. He teaches the Master of Security Analysis and Portfolio Management Program.
Purchase Link
Besides being one of the best books on stock valuation, Investment Banking for Dummies holds the keys to getting started in the industry. You can purchase the book on Amazon.
Summary
If you’re not yet in the investment banking industry, you’ll want to get a hold of some of the top reading material that will help you understand your role in the sector. Many of these books are designed for beginners and cover the basics that will help you land a desired position.
Marry the knowledge you get from your certification course and these best investment banking books, and you’ll have a chance of building a successful career in investment banking.
On the other hand, if you’re already employed in this industry, you will benefit from reading more about how the past shaped the current markets. Some of these books also contain tips and tricks that you can use daily to improve your operations and advance your career.
FAQ
Being in the investment banking industry means you’ll constantly have to keep up with the latest investment trends. Most of the books on investment banking cover the basics, while some include case studies that you can implement in real life.
If you wish to read what other investment bankers do, check out The Essays of Warren Buffett, Principles by Ray Dalio, The Making of Goldman Sachs by Charles D. Ellis, or Investment Banking: Institutions, Politics, and Law.
If you are without a finance background but still wish to get into this industry, know there are several ways to get started with learning finance. How you’ll start depends on your learning style and budget.
For example, you can take online courses, in-person classes, or read financial publications and books. Additionally, you can join the network of financial professionals and ask for everything you wish to know.
There are a few steps you’ll have to take if you wish to become an investment banker. First, you should obtain a bachelor’s degree in finance or a related field. Then, you can proceed to get a graduate degree or an MBA in the financial field.
After you finish with the education part, you should register with the Financial Industry Regulatory Authority (FINRA) and obtain a certification. Now you can start applying to jobs, learn along the way, and advance your career.
There are many certifications you could look into if you wish to become an investment banker. Chartered Financial Analysts (CFA) is one of the best certifications you can get, and it’s highly regarded in the financial industry. CFA’s three-part exam tests the basics of investment tools, valuing assets, portfolio management, and wealth planning, making it an ideal certification for this type of work.
Besides CFA and some of the best investment banking books you can read, there are Financial Risk Manager (FRM), Chartered Mutual Fund Counselor (CMFC), and a few others.