Employers

The U.S. investment banking and securities market included 35,334 business that collectively generated $456.6 billion in revenue as of February 2025, according to the research firm IBISWorld. Major companies include Bank of America Corporation, Morgan Stanley, JPMorgan Chase & Co., Goldman Sachs, among others. Investment banks are located throughout the United States and the world.

Starting Out

Participating in internships or summer associate programs while in college are excellent ways to break into the field. Most of the large investment banks offer such programs. For example, Morgan Stanley offers internships and apprenticeships for students. Visit https://www.morganstanley.com/people-opportunities/students-graduates for more information. Other programs are offered by:

• Bank of America Merrill Lynch: https://careers.bankofamerica.com/en-us/students
• JPMorgan Chase & Co.: https://careers.jpmorgan.com/US/en/students/programs/investment-banking-summer-associate
• Deloitte: https://www2.deloitte.com/xa/en/pages/careers/articles/deloitte-corporate-finance-llc-associate-program.html

Additional job-search strategies include attending career fairs and other recruiting events that are offered by large investment banks, using the resources of your college’s career services office, networking with professors regarding potential job openings, becoming active on social networking sites such as LinkedIn, and contacting firms directly about available opportunities.

Associates typically work at an investment bank for two to three years before being promoted to investment banker. Associates who worked as analysts before grad school have a little more experience under their belts and are in a better position to move up the ladder to higher salaried positions as vice presidents or managing directors.

Investment banking is a very performance-based industry, and associates who don’t perform well are asked to leave the firm after completing their two- or three-year contract. Associates who leave the investment banking industry might start a company or work at a private equity, venture capital, or hedge fund firm. Others might go into financial consulting or academia.

Visit the following Web sites for job listings:

• https://www.indeed.com/jobs?q=investment+banking+associate&l=
• https://www.efinancialcareers.com/
• https://www.linkedin.com/jobs/investment-banking-jobs/

Earn your MBA and the chartered financial analyst credential from the CFA Institute to increase your chances of landing a job.

Be willing to relocate. It may open more job opportunities.