The investment banking division (IBD) of an investment bank helps governments, corporations, and institutions raise capital and complete mergers and acquisitions (M&A). The IBD of the bank is further divided into industry groups, such as the TMT (technology, media, and telecommunications) investment banking group.
An investment banking career typically contains the following:
- Long, intensive work hours - analysts are frequently working 80+ hour weeks
- Rigid work structure
- Intense internal position rivalry
- High exposure to managers and executives
- High compensation and benefit packages
Example Job: Investment Banker Associate
Mean Base Salary: $162,812
Top Hiring Companies: UBS, Guggenheim, Goldman Sachs, Jeffries, Piper Sandler
Investment bankers are expected to have an excellent grasp of the investment climate, with knowledge of popular investment vehicles. Should a company wish to perform an IPO, investment bankers are often key contributors to this process. It is the job of the investment banker to maximize investment returns, and therefore, attempt to set the IPO at the highest price possible. This is just one aspect of the job. Many bankers have specialty industries or services, not all banker work on IPOs.
- Strong financial acumen (forecasting, variance analysis, report and analytical analysis of revenue/expense or such financial trends)
- Self-motivated, looking to seek and drive solutions
- Clear communication both verbally and written
- Advanced skills in Excel, PowerPoint, and experience with budgetary planning software (ideally Adaptive Insights) or analytic tools (Power BI, Tableau, Qlik, etc.)
- Knowledge of financial and reporting process optimization is a plus
- Strong presentations skills and ability to compose comprehensive written reports
Hiring Company Examples
- Guggenheim Partners
- Lazard Middle Market
- Morgan Stanley
- RW Baird
- Corporate Finance Institute: Guide to Getting a Job in Investment Banking
- Mergers & Inquisitions: Investment Banking Careers Blog: How to Get Into Investment Banking
- Mergers & Inquisitions: Investment Banking Info Sessions: A Way to Stand Out as a Human in a Virtual World, or a Complete Waste of Time?
- The Investment Banking Book
- Udemy Courses:
- List of Top Investment Banks
- What are Boutique Investment Banks?
- List of 661 Boutique and Middle-Market Investment Banks
- Guide to Getting a Job in IB
- Top 10 Types of Financial Models
- Video: What is Investment Banking?
- efinancialcareers.com A job board for investment banking and other Wall Street jobs