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Become An Investment Banking Associate

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Working As An Investment Banking Associate

  • Analyzing Data or Information
  • Getting Information
  • Interacting With Computers
  • Processing Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Deal with People

  • Mostly Sitting

  • Repetitive

  • $80,310

    Average Salary

What Does An Investment Banking Associate Do

Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments.

Duties

Financial analysts typically do the following:

  • Recommend individual investments and collections of investments, which are known as portfolios
  • Evaluate current and historical financial data
  • Study economic and business trends
  • Examine a company’s financial statements to determine its value
  • Meet with company officials to gain better insight into the company’s prospects
  • Assess the strength of the management team
  • Prepare written reports

Financial analysts evaluate investment opportunities. They work in banks, pension funds, mutual funds, securities firms, insurance companies, and other businesses. Financial analysts are also called securities analysts and investment analysts.

Financial analysts can be divided into two categories: buy-side analysts and sell-side analysts.

  • Buy-side analysts develop investment strategies for companies that have a lot of money to invest. These companies, called institutional investors, include mutual funds, hedge funds, insurance companies, independent money managers, and nonprofit organizations with large endowments, such as some universities.
  • Sell-side analysts advise financial services sales agents who sell stocks, bonds, and other investments.

Some analysts work for the business media or other research houses, which are independent from the buy and sell side.

Financial analysts generally focus on trends affecting a specific industry, geographical region, or type of product. For example, an analyst may focus on a subject area such as the energy industry, a world region such as Eastern Europe, or the foreign exchange market. They must understand how new regulations, policies, and political and economic trends may affect investments.

Investing is becoming more global, and some financial analysts specialize in a particular country or region. Companies want those financial analysts to understand the language, culture, business environment, and political conditions in the country or region that they cover.

The following are examples of types of financial analysts:

Portfolio managers select the mix of products, industries, and regions for their company’s investment portfolio. These managers are responsible for the overall performance of the portfolio. They are also expected to explain investment decisions and strategies in meetings with stakeholders.

Fund managers work exclusively with hedge funds or mutual funds. Both fund and portfolio managers frequently make buy or sell decisions in reaction to quickly changing market conditions.

Ratings analysts evaluate the ability of companies or governments to pay their debts, including bonds. On the basis of their evaluation, a management team rates the risk of a company or government not being able to repay its bonds.

Risk analysts evaluate the risk in investment decisions and determine how to manage unpredictability and limit potential losses. This job is carried out by making investment decisions such as selecting dissimilar stocks or having a combination of stocks, bonds, and mutual funds in a portfolio.

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How To Become An Investment Banking Associate

Financial analysts typically must have a bachelor’s degree, but a master’s degree is often required for advanced positions.

Education

Most positions require a bachelor’s degree. A number of fields of study provide appropriate preparation, including accounting, economics, finance, statistics, and mathematics. For advanced positions, employers often require a master’s degree in business administration (MBA) or a master’s degree in finance. Knowledge of options pricing, bond valuation, and risk management are important.

Licenses, Certifications, and Registrations

The Financial Industry Regulatory Authority (FINRA) is the main licensing organization for the securities industry. It requires licenses for many financial analyst positions. Most of the licenses require sponsorship by an employer, so companies do not expect individuals to have these licenses before starting a job.

Certification is often recommended by employers and can improve the chances for advancement. An example is the Chartered Financial Analyst (CFA) certification from the CFA Institute. Financial analysts can become CFA certified if they have a bachelor’s degree, 4 years of qualified work experience, and pass three exams. Financial analysts can also become certified in their field of specialty.

Advancement

Financial analysts typically start by specializing in a specific investment field. As they gain experience, they can become portfolio managers, who select the mix of investments for a company’s portfolio. They can also become fund managers, who manage large investment portfolios for individual investors. A master’s degree in finance or business administration can improve an analyst’s chances of advancing to one of these positions.

Important Qualities

Analytical skills. Financial analysts must process a range of information in finding profitable investments.

Communication skills. Financial analysts must explain their recommendations to clients in clear language that clients can easily understand.

Computer skills. Financial analysts must be adept at using software packages to analyze financial data, see trends, create portfolios, and make forecasts.

Decisionmaking skills. Financial analysts must provide a recommendation to buy, hold, or sell a security.

Detail oriented. Financial analysts must pay attention to details when reviewing possible investments, as small issues may have large implications for the health of an investment.

Math skills. Financial analysts use mathematical skills when estimating the value of financial securities. 

To be successful, financial analysts must be motivated to seek out obscure information that may be important to the investment. Many work independently and must have self-confidence in their judgment.

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Investment Banking Associate jobs

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Investment Banking Associate Career Paths

Investment Banking Associate
Senior Finance Analyst Controller General Manager
Account Manager
5 Yearsyrs
Investment Banker Senior Finance Analyst
Assistant Vice President
7 Yearsyrs
Senior Finance Analyst Finance Manager Sales Manager
Branch Manager
6 Yearsyrs
Assistant Vice President Vice President Chief Finance Officer
Chief Finance And Operating Officer
14 Yearsyrs
Senior Associate Senior Manager Operations Director
Chief Operating Officer
11 Yearsyrs
Equity Research Analyst Business Analyst Senior Manager
Director Of Analytics
13 Yearsyrs
Business Developer Business Development Manager Senior Manager
Director Of Strategy
12 Yearsyrs
Vice President President Finance Advisor
Finance Vice President
9 Yearsyrs
Consultant Communications Manager Account Director
Group Director
9 Yearsyrs
Finance Director Managing Director Investment Advisor
Investments Manager
6 Yearsyrs
Senior Associate Senior Consultant Senior Manager
Managing Director
11 Yearsyrs
Finance Director General Sales Manager Market Manager
Market Director
10 Yearsyrs
Equity Research Analyst Analyst Program Manager
Portfolio Manager
7 Yearsyrs
Business Developer Managing Director Chief Operating Officer
President & Chief Operating Officer
13 Yearsyrs
Assistant Vice President Controller Finance Director
Senior Director Of Finance
14 Yearsyrs
Chief Executive Officer Property Manager Portfolio Manager
Senior Portfolio Manager
10 Yearsyrs
Investment Banker Business Developer Vice President, Business Development
Vice President And Manager
10 Yearsyrs
Consultant Senior Project Manager Vice President And Manager
Vice President And Portfolio Manager
10 Yearsyrs
Chief Executive Officer Management Consultant Vice President, Business Development
Vice President, Corporate Development
12 Yearsyrs
Vice President Business Developer Director Of Strategy
Vice President, Strategy
13 Yearsyrs
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Investment Banking Associate Demographics

Gender

Male

73.7%

Female

21.0%

Unknown

5.3%
Ethnicity

White

63.7%

Asian

23.5%

Hispanic or Latino

8.6%

Unknown

2.4%

Black or African American

1.7%
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Languages Spoken

Spanish

29.3%

Mandarin

15.5%

French

15.5%

Chinese

8.6%

German

5.2%

Cantonese

3.4%

Japanese

3.4%

Russian

3.4%

Korean

3.4%

Portuguese

1.7%

Bulgarian

1.7%

Malay

1.7%

Macedonian

1.7%

Tagalog

1.7%

Arabic

1.7%

Italian

1.7%
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Investment Banking Associate Education

Schools

University of Chicago

11.5%

University of Pennsylvania

10.4%

New York University

8.2%

Georgetown University

7.7%

Duke University

7.7%

Cornell University

7.1%

Northwestern University

6.6%

Columbia University

6.0%

University of Virginia

4.9%

University of Southern California

4.4%

University of Michigan - Ann Arbor

3.3%

Harvard University

2.7%

Vanderbilt University

2.7%

Johns Hopkins University

2.7%

Massachusetts Institute of Technology

2.7%

Southern Methodist University

2.2%

Emory University

2.2%

Brandeis University

2.2%

University of Texas at Austin

2.2%

University of Rochester

2.2%
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Majors

Finance

41.0%

Business

25.7%

Accounting

8.8%

Economics

4.8%

Management

4.5%

Real Estate

3.1%

Law

2.3%

International Business

1.1%

Political Science

1.1%

Small Business Management

1.1%

Psychology

0.8%

Legal Research And Advanced Professional Studies

0.8%

Information Technology

0.8%

Entertainment Business

0.6%

Business Economics

0.6%

Computer Applications

0.6%

Chemistry

0.6%

Health Care Administration

0.6%

Public Policy Analysis

0.6%

Computer Engineering

0.6%
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Degrees

Masters

74.9%

Bachelors

17.0%

Other

4.2%

Doctorate

2.9%

Certificate

1.0%
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Part Time
Internship
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Real Investment Banking Associate Salaries

Job Title Company Location Start Date Salary
Associate, Healthcare Investment Banking JP Morgan Chase & Co New York, NY Aug 16, 2016 $227,178
Associate 3, Investment Banking Morgan Stanley & Co. LLC New York, NY Jan 15, 2016 $220,813
Investment Banking Associate Citigroup Global Markets Inc. New York, NY Sep 01, 2015 $200,000
Investment Banking Associate Citigroup Global Markets Inc. New York, NY Apr 24, 2016 $200,000
Associate, Investment Banking Latin America Jpmorgan Chase &Amp; Co. New York, NY Jun 09, 2016 $200,000
Associate; Global Investment Banking Merrill Lynch New York, NY Dec 05, 2016 $200,000
Associate 3, Investment Banking Morgan Stanley & Co. LLC Houston, TX May 05, 2016 $200,000
Associate, Latin America Investment Bank Jpmorgan Chase & Co. New York, NY Jun 09, 2016 $200,000
Associate, Investment Banking Deutsche Bank Securities, Inc. San Francisco, CA Apr 11, 2016 $200,000
Real Estate Investment Banking Financial Associate Jpmorgan Chase & Co. New York, NY Jul 27, 2016 $200,000
Banking Investment Associate Citigroup Global Markets Inc. San Francisco, CA May 25, 2015 $200,000
Investment Banking Associate Citigroup Global Markets Inc. New York, NY Mar 09, 2016 $200,000
Investment Banking Associate Merrill Lynch New York, NY Aug 29, 2016 $190,000 -
$210,000
Associate; Investment Banking Merrill Lynch New York, NY Sep 25, 2015 $190,000 -
$210,000
Associate, Corporate & Investment Bank Technology Jpmorgan Chase &Amp; Co. New York, NY Apr 22, 2016 $140,500
Investment Banking Associate Merrill Lynch New York, NY Sep 29, 2015 $140,000
Associate; Latin America Investment Banking Merrill Lynch New York, NY Mar 05, 2015 $140,000
Investment Banking Associate Merrill Lynch Houston, TX Mar 05, 2015 $140,000
Associate, Healthcare Group, Investment Banking Division Morgan Stanley & Co. LLC New York, NY Jun 11, 2015 $140,000
Associate-Investment Bank Technology Jpmorgan Chase & Co. New York, NY Apr 02, 2015 $140,000
Investment Banking Associate Cowen and Company, LLC San Francisco, CA Apr 01, 2016 $140,000
Associate, Investment Bank Technology Jpmorgan Chase & Co. Jersey City, NJ Nov 01, 2015 $137,000
Investment Banking Associate Guggenheim Securities, LLC New York, NY Jul 11, 2016 $124,592 -
$150,000
Investment Banking Associate Guggenheim Securities, LLC New York, NY May 08, 2016 $124,093 -
$150,000
Investment Banking Associate Raymond James & Associates San Francisco, CA May 02, 2016 $123,800 -
$126,800
Associate Director, Investment Banking Associate UBS Securities LLC New York, NY Jul 20, 2016 $123,500 -
$150,000
Investment Banking Associate Allen & Company LLC New York, NY Apr 15, 2015 $123,000
Associate-Investment Bank Technology Jpmorgan Chase & Co. New York, NY Jul 23, 2015 $120,000
Investment Banking Associate JP Morgan Chase & Co New York, NY Jun 04, 2016 $120,000

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Top Skills for An Investment Banking Associate

ComplexFinancialModelsPrivateEquityDueDiligenceProcessDebtSaleSell-SideMConfidentialInformationMemorandumLBODCFIPOValuationAnalysesPrivatePlacementFinancialAnalysisBuy-SideMManagementPresentationsMergerModelsHealthcareATransactionsPrecedentTransactionsComparableCompany

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Top Investment Banking Associate Skills

  1. Complex Financial Models
  2. Private Equity
  3. Due Diligence Process
You can check out examples of real life uses of top skills on resumes here:
  • Build and interpret complex financial models and perform valuation analysis and financial diligence.
  • Assessed market size (5-year revenue opportunity) and competitive landscape of the compressor market for private equity client.
  • Guided management through the due diligence process, including coordinating meetings and responding to buyer inquiries.
  • Advised clients on financial restructuring opportunities including term loan amendments, note exchange offers and debt buybacks.
  • Selected transaction experience: o Gryphon Investors: Managed $220 million sale of Eight O'Clock Coffee (portfolio company).

Top Investment Banking Associate Employers

Investment Banking Associate Videos

Day in the Life of a Corporate Banker | J.P. Morgan

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