What is the difference between an analyst and an associate in investment banking?

An investment associate uses data analysis to assess a company's financial capacity and investment risks. Working as an investment banking associate ensures accurate financial and investment planning.

Associates are a middle-management type role. They are responsible for meeting the demands of their superiors and are also held accountable for the analysts within their team.

Being a step-up from the analyst position, investment banking associates still have to carry out many fundamental tasks. This includes creating and formatting slides, arranging client meetings, and performing financial analysis.

However, associates tend to produce much more complex financial models than analysts and bear the responsibility of more complicated challenges. On top of this, they are expected to provide project management for their teams.

This includes allocating jobs set by senior bankers and ensuring analysts meet deadlines on time. To safeguard quality, associates are also in charge of checking analysts' work. This means scrutinizing completed models and presentations and ensuring that the analysts know what is expected of them in the first place.