How to Start a Career in Investment Banking?

During the last weeks, some people asked me about a career in the financial industry. Therefore, I will try to explain, how a career in investment banking looks like:

The hierarchy is pretty straight forward (from junior to senior). You will start as an Analyst, Associate, VP, Director and hopefully you will become a Managing Director one day. However, different banks have different names for each level of the hierarchy, but their tasks are more or less the same across all investment banks. To start your career in Investment Banking, you will need an undergraduate degree, preferably in a business related subject.

1. Investment Banking Analyst & Associate

This will be your job for the first two years and your main tasks will be analysis, presentations and administrative work. If you get promoted and become an Associate, you will have more responsibilities and sometimes direct contact to clients. Associates and Analysts work closely together, as the Associate gives the Analyst tasks and checks his or her work.

2. VP’s and Directors

Their main task is to acquire new deals and maintain relationships. They have a very deep understanding of financial topics and the industry they are working in.

3. Investment Banks

This is a list of the biggest investment banks in the world:
1) JPMorgan Chase
2) Goldman Sachs
3) Bank of America Merrill Lynch
4) Morgan Stanley
5) Citi Group
6) Credit Suisse
7) Barclays Investment Bank
8) Deutsche Bank

Resources: https://www.wallstreetprep.com/knowledge/investment-banking-careers/

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