Investment Banking Associates
Overview
Introduction
Investment banking associates, like analysts, do much of the entry-level numbers-crunching and financial-modeling work but, unlike analysts, they are more involved with clients in writing deal proposals and preparing pitch books. They often travel to sit in on client meetings with other members of the deal team. Associates usually come from a top MBA program and have a law degree or an advanced corporate finance degree.
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Associates earned salaries that ranged from $83,000 to $157,500 in 2018, according to the 2020 Robert Half Salary Guide for Accounting and Finance Professionals. Analysts usually receive benefits such as paid vacation days and sick leave, health and life insurance, a 401(k) or other retirement savings plan, dinner stipends (for after-hours work), reimbursement for travel to and from wo...
Work Environment
The work environment at a typical investment bank is demanding, fast-paced, and often stressful. There is constant pressure to manage the work of analysts and ensure that it is of the highest quality; respond to requests by senior bankers, who are often very demanding; and meet deadlines—and meetings these expectations often translates into long work days. Hours for investment banking associate...
Outlook
Competition for investment banking associate jobs will be very strong during the next decade. Although the number of jobs has declined in recent years, there will always be a need for associates because it is difficult to automate or offshore these positions. “There’s no getting around the reality that investment banking, especially when advising on corporate deals or working on public offering...
