Investment bankers help companies raise the capital for expansion and other intensive efforts. Investment banking associates contribute largely to this goal by interacting with clients and verifying the data that is processed by analysts. In many situations, an investment banking associate's job is the step after an analyst's responsibility.
A day in the life of an investment banking associate involves meeting with upper management staff to discuss pitches and responding to queries. They also regularly meet with stakeholders and clients. Other responsibilities include delegating tasks to junior staff and checking over their work.
Investment banking associates often work long hours to meet clients, be available for any last-minute requests and deliver on a deadline. Becoming an investment banking associate requires an advanced degree, usually an MBA. Experience from a relevant internship program also bolsters a resume. Proficiency with industry-relevant software, like Excel and Powerpoint, are helpful skills for an investment banking associate.
There is more than meets the eye when it comes to being an investment banking associate. For example, did you know that they make an average of $51.9 an hour? That's $107,952 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 20,300 job opportunities across the U.S.
There are certain skills that many investment banking associates have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed communication skills, computer skills and analytical skills.
When it comes to the most important skills required to be an investment banking associate, we found that a lot of resumes listed 8.9% of investment banking associates included capital markets, while 7.9% of resumes included financial models, and 6.4% of resumes included healthcare. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the investment banking associate job title. But what industry to start with? Most investment banking associates actually find jobs in the finance and professional industries.
If you're interested in becoming an investment banking associate, one of the first things to consider is how much education you need. We've determined that 65.2% of investment banking associates have a bachelor's degree. In terms of higher education levels, we found that 30.0% of investment banking associates have master's degrees. Even though most investment banking associates have a college degree, it's impossible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an investment banking associate. When we researched the most common majors for an investment banking associate, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on investment banking associate resumes include doctoral degree degrees or associate degree degrees.
You may find that experience in other jobs will help you become an investment banking associate. In fact, many investment banking associate jobs require experience in a role such as investment banking analyst. Meanwhile, many investment banking associates also have previous career experience in roles such as associate or summer associate.