Freelance investment bankers are critical to the growth of your business. When you are ready to move your company to the next level, their financial know-how can make the process much smoother and more successful. An expert in raising capital and making deals can protect your interests as you expand your business and acquire more assets.
When businesses need expert help but do not have an investment banker on staff, turning to a freelancer is a great way to fill the gap. By using the top 15 sites to find and hire the best freelance investment bankers, you can find the right experts ready to fulfill your needs.
What Do Investment Bankers Do?
Before you make the move to hire investment bankers, it is a good idea to understand what they do. They can help with negotiating mergers or sales, financing transactions, raising money for the company, and managing an initial public offering.
Quality investment bankers are in demand at top corporations. According to the US Bureau of Labor Statistics, financial services jobs have grown faster than positions in other industries. Because of this important skill set, many companies will offer top salaries to good candidates. Freelance and remote investment bankers are often sought by businesses that may not have an investment bank to handle their accounts.
Finding a good freelance investment banker is becoming easier, thanks to online marketplaces. Companies can connect with the right partner easily and hire in a matter of days, in some cases.
Should I Hire a Freelance Investment Banker?
To hire the right person, consider what your company needs. Do you want an investment banker to handle a merger or acquisition, manage an IPO, or raise funds for an expansion? Each of these tasks could necessitate different contracting terms. For a shorter project that may last a few weeks, a freelance or remote investment banker can work well. You can set an hourly rate for your freelancer. You can also create a short-term contract that encompasses the entire project.
What Skills Should I Look for When Hiring Investment Bankers?
Investment bankers need many skills to be successful at helping your company grow. As they manage deals and look into opportunities for your business, you want someone who has a mind for finance and excellent interpersonal skills. Here are some assets that make a good investment banker:
The best investment bankers also take the time to understand the nuances of your industry and business to find the best ways to grow your operation.
Investment bankers often have degrees in finance and related fields, and many have a Master of Business Administration as well. Check to see if a candidate has any licenses or certifications in their area of expertise.
How Much Does It Cost To Hire Investment Bankers?
Freelance workers set their own rates, so exact salaries will vary. In some freelance marketplaces, bankers offer rates as low as $40 per hour. That number can increase to more than $250 per hour for more experienced and credentialed bankers. For businesses with specific projects that only need temporary guidance, paying an hourly rate can be the best way to pay a fair price rather than hiring a full-time investment banker.
How To Find Investment Bankers for Hire
Following the advice in this guide is a great way to find skilled investment bankers to work with. As you decide where you want to source your talent, use this resource to help you reach the best decision. Keep these questions in mind:
How does the site vet freelance investment bankers?
Are reviews of previous work available?
How are rates set for each freelancer, and are there any additional fees?
You may also need to see how the sites vet companies that wish to hire. Some require an invite to participate, while others will let you reach out to a freelancer as you wish.
When you plan to bring on a freelance investment banker, carefully consider your company’s plans and needs. There's no hidden ingredient to hiring a freelance banker. Take the time to lay out the scope of your project and the expectations you have. Make sure you can answer the following:
What are the main components of your project? Will there be a bond sale, a merger, or some other deal involved?
How long do you anticipate the project taking?
Do you have specific goals regarding how much capital should be raised and by when?
Will your merger or acquisition require special regulatory oversight?
Creating a list of what you hope to accomplish will let you make a more informed decision about which freelance investment banker to hire and how much you should plan to pay for their services. It also makes communication easier because everyone will be aligned.
When you are looking to maximize your company's potential, work with a talented freelance investment banker to get expert help that will move your business forward.