Job Investment Banking Analyst

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Kison Patel is the founder and CEO of Chicago-based Artisan Management Software, which uses Agile principles to innovate and modernize the financial industry. As a former M&A advisor with more than a decade of experience, Kison developed after seeing firsthand some of the structural problems and inefficiencies that exist in the industry.

Job Investment Banking Analyst

Investment banking roles are the most sought after of all careers in finance.

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Big investment banks have an enduring cachet that most companies can only aspire to – offering their employees a mix of intellectual power and prestige.

But investment banking isn’t just on Wall Street. There are currently thousands of investment banks of various sizes and niches operating in the United States.

In this article, we look at some of the specifics of this career, the pros and cons, and what you can expect from a career in investment banking.

Investment banking is a banking advisory division that is involved in large-scale financial transactions that typically involve companies, organizations, investment funds, and governments.

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In the beginning, this involves investment bankers up to the valuation of the company, which will determine the opening price in the selected public index, as well as handle all compliance issues.

From here, investment bankers manage the IPO pitch to investors and prepare marketing documents to list the company to pitch to investors.

Finally, before the listing itself, investment bankers often (but not always) underwrite the deal, to ensure that the opening price is guaranteed to reach a certain level.

The biggest source of income for investment bankers, and the best known, is through the consulting services they provide for mergers and acquisitions.

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Almost every M&A deal involves at least one team of investment bankers, and the largest ones often involve several different teams.

When companies and governments want to issue debt—usually in the form of fixed debt structures such as corporate bonds and government bonds, respectively—they turn to investment banks to issue the debt to the market as well as to help set the terms of the debt (interest). , duration, etc.)

Investment bankers typically use high-quality research as a trojan horse (ie a claim for high-value work), pointing out where there may be opportunities in the market for hiring parties, whether it’s a company, fund or government .

And while it is undoubtedly a challenging and stimulating career, the pay is usually why most people choose a career in the profession.

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The large number of candidates applying for investment banking positions each year indicates a career that is considered the most rewarding.

In 2021, the last time it disclosed job application figures, Goldman Sachs received 19,000 applications for 440 jobs available in its European graduate programs and 100,000 applications for its 2,900 global internships.

As a result, you see just over 100 applications for each role. The rental rate here is around 1-2%.

By this rough measure, a career in investment banking would be considered one of the best. And that, for certain personality traits (see section below).

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Salaries in investment banking can be incredibly attractive. But the industry is also notorious for employee burnout and turnover due to poor work-life balance.

According to the careerexplorer report, bankers rate their career happiness at 2.7 out of 5 stars, which puts them in the bottom 9% of careers.

“One of the things I really like is that I can help with some of the risk discussions. When we start thinking about a new commercial or business opportunity, I help shape how we think about risk and help with structuring considerations to get us to the right place. I should take the time to ask lots of appropriate questions and show them that part is interesting.(link).

“Walk across the floor and you’ll hear people speaking Japanese, Korean, Cantonese, Mandarin and English. There are so many cultures represented here.”

Investment Banking Resume

The best part, Michelle added, is that no matter what language her classmates speak, there is a feeling

“The idea that I could be CEO in five to six years is really cool. If 20 years from now, I’m still working at Chase, it wouldn’t surprise me at all. I discovered a lot that I didn’t know I had to find in the company and in the career, and in the team. The growth of the work I was able to contribute and how it affected the clients and the business, even after six years, I’m still quite impressed.(link).What role does it play?

When you advise clients, you need an expert in the field. This is where investment analysts come in – often specializing in one or a few select industries.

These analysts are subject matter experts (for example, oil and gas, or telecommunications and media) who help develop marketing documents and provide advice throughout the process for clients in these industries.

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Associates are essentially positions that link investment analysts with senior members of the investment banking team.

Occasionally they will face the client, but most of their work involves being a superior to the work that investment analysts do – checking marketing documents and valuations to make sure everything looks good and can be introduced to the customer (or first, a senior.banker… see below).

These individuals – sometimes referred to as “rainmakers” – are the ones who drive sales and close deals for investment banks.

Investment banks spend a lot of money to ensure they have the best senior bankers in the industry – usually with a large list of client contacts and extensive deal-making experience.

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The size of the deal – even smaller than the end of the market – means that by taking only a few percentage points, investment banks generate a significant amount of money, most of which is shared generously among their bankers.

Regardless of the size of the investment bank, positions tend to fall into one of four categories. In order of increasing responsibility, this analyst, associate, vice president and general manager.

Inevitably, the salary for this position differs from bank to bank, and the higher the profile of the investment bank, the higher the salary will be.

There are technical limits here, it’s not hard to see how quickly it adds up, but also how hard it is to pinpoint the exact number.

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It’s safe to say you’ll be comfortably enjoying a six-figure sum in a year or two. From there, it depends on your business skills.

The first two are largely the work of a junior investment banker (analyst), and as you progress in your investment banking career, you will spend more time selling and negotiating.

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It also helps to have good business acumen. Blue chip investment banks often use group interview techniques where they see how you interact with other people and convey your point of view.

Investment Banking Analyst Cover Letter

For example, they can present several investments and ask the group to decide which ones to pass on to the investment committee.

Their HR manager simply sits back and observes what happens when the interviewee argues their point with someone they met just minutes before.

There is no specific career path for investment banking, but investment banks have a preference for numerical degrees.

Increasingly, this means that engineering and physics graduates find their way into the profession, but typically hire from the traditional fields of economics, finance, business and management.

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And of course, being from a prestigious school isn’t bad (in fact, it’s a distinct advantage), but it’s not an absolute necessity.

“Personality” isn’t usually a subhead you’d expect to find in a career guide, but some will argue that it doesn’t deserve a place in an investment banking career guide.

The demands of the career – outlined above – are so demanding that it is not a career for everyone.

In short, investment banks are looking for ambitious, high achievers willing to work incredibly long hours, often under intense pressure.

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Fortunately, this is changing and not before time. Because of this, Women have held senior positions in most of the top investment banks, with Suni Harford as President at UBS Asset Management, for example.

There is still a long way to go, of course, and this is another indication of the macho personality traditionally prevalent in investment banking that still exists in some corners of the industry.

The best proof that you have what it takes for a career in investment banking is investment banking experience.

This is precisely why blue chip investment banks offer (strenuous) internships to check the quotas of those who want to join their ranks.

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