With the rapid development of China’s economy, investment banking has become a popular industry for college students and MBA graduates. Many people are very curious about the specific work content, salary level and promotion opportunities of investment bankers. This article will give a comprehensive introduction to the jobs of investment bankers based on typical positions like Analyst, Associate and Vice President in the investment banking division. It will elaborate on their routine work, pay scale, working hours, promotion timeline and career development direction. There are also comparisons with other related positions to provide a fuller understanding of investment banking jobs.
Investment banking analysts focus more on modeling, administrative work and have lower pay
Investment banking analysts are typically fresh graduates aged 22-27 years old. Their main responsibilities include building financial models with Excel and PowerPoint, tracking buyers and sellers, organizing data and transaction documents, responding to client inquiries in a timely manner etc. Although the base salary is around £60k in top investment banks, taking bonus into account, the total compensation is usually between £90k – £120k. Working hours are extremely high, usually 70 – 85 hours per week in the office.
Investment banking associates take on more interesting work and earn nearly double pay
After being promoted to associates, investment bankers can take on more interesting tasks like assigning work to analysts, checking work quality, building complex models and delivering key presentations. They also attend more important meetings and interact with clients directly. Most associates are either promoted from analyst level or hired fresh out of top MBA programs. Their base pay at large investment banks is around £110k. Total compensation can reach £200k but smaller banks pay much less bonuses. Working hours reduce slightly to 65 – 80 hours per week.
Investment banking VPs start taking on project management roles
At VP level, investment bankers communicate directly with directors on client requirements and lead teams of associates and analysts to execute. For example, VPs source necessary information, build financial models and prepare marketing materials when directors want to pitch deals to prospective clients. It’s toughest to be a VP as they need to balance managing live deals, motivating teams and building client relationships. Base salaries range from £150k to £250k with total compensation up to £360k. Working hours drop further to 55 – 70 hours per week.
In conclusion, investment banking jobs are highly demanding but very rewarding both financially and career-wise. The routine work varies greatly depending on seniority level. There are clear promotion timelines from analyst to associate and VP. But getting beyond VP level relies more on performance instead of tenure, so many get stuck at this level or are forced to switch jobs.