- 1 investment bankers job description
- 1.1 Investment Banking Associate Job Description
- 1.2 Investment Banker: Job Description & Average Salary
- 1.3 Investment banker – operations: job description
- 1.4 Investment Banker Job Description, Duties, Functions, Roles and Responsibilities
investment bankers job description
Investment Banking Associate Job Description
The Investment Banking group serves as a trusted advisor to premier clients, helping them develop their strategic objectives and meet their financial needs. The group provides financing, advisory, and investment services to these clients throughout the world.
comprehensive global training prior to joining your industry or product group
пїЅ a six-week training program that simulates real-life work and prepares you for the job
пїЅ overview of our principles, global capabilities, and strategic initiatives
пїЅ a review of quantitative fundamentals
пїЅ detailed instruction on transactions from origination through execution
пїЅ extensive hands-on training in valuation techniques and financial modeling
пїЅ broad-based exposure to products, services, and work practices in investment banking
пїЅ training in the practical use of banking-related technology and general resources
пїЅ opportunities to develop a global network of colleagues
пїЅ in-class preparation for the Series 7 and 63 exams
пїЅ roadmap to customized ongoing training and development throughout your career
пїЅ on a team devoted to a specific industry or product
industry groups: chemicals, financial institutions, global energy and power, global industries, healthcare, media, real estate, retail, technology, and telecommunications
product groups: corporate finance, exclusive sales and divestitures, financial sponsors, global leveraged finance, mergers and acquisitions, private equity-directs, and private equity-funds
пїЅ in a major city in one of the following regions: Americas; Europe, Middle East & Africa; Japan; and Asia Pacific
пїЅ determined during the hiring process; based on your interests and the business need
пїЅ work closely with senior bankers and experts from other groups
пїЅ conduct sophisticated financial analysis and relevant industry research
пїЅ develop new business, prepare client presentations and market new products
пїЅ structure transactions, price and distribute securities, and close deals
пїЅ MBA, JD, or PhD from a top-tier school
пїЅ superior academic achievement
пїЅ summer associate position in related field
пїЅ previous relevant work experience
пїЅ strong quantitative and analytical skills
пїЅ advanced oral and written communication skills
пїЅ solid sales and marketing skills
пїЅ ability to work independently while functioning as part of a team
пїЅ appropriate language capabilities and the ability to obtain appropriate visa status or citizenship for the assignment location
пїЅ a high degree of initiative, motivation, and attention to detail
пїЅ quick learner
пїЅ visibility with clients and significant responsibilities on client transactions
пїЅ superior classroom training by world-class professors and leading investment bankers plus ongoing training and development designed to address your career needs
пїЅ a work environment that combines the best of both worlds - the breadth and resources of a global powerhouse and the collegiality of small expert teams
INVESTMENT MANAGEMENT DIVISION -- SUMMER ASSOCIATE PROGRAM
Overview The Private Wealth Management Group: identifies new business opportunities; develops and prepares marketing presentations that address asset allocation, the selection of Investment Managers in equities, fixed income and alternative investments; works in conjunction with investment research and other areas of the firm to respond to client needs; analyzes client equity, fixed income and alternative investment portfolios; works on discrete projects related to strategic planning, product development and other marketing infrastructure issues.
* Participates in classes, role-play simulations, and other instructional events conducted by Goldman Sachs professionals on a broad range of topics, including portfolio construction and management, selling techniques, trading language, investment analysis and market specific knowledge in conjunction with investment research and other areas of the firm to respond to client needs.
* Completes projects and presentations on various products, market strategies, key transactions and research analysis for various business units
* Record of demonstrated academic and extracurricular achievement
* Interest in financial markets
* Strong interpersonal and organizational skills
* Strong analytical and writing skills
* Ability to work in a fast-paced environment
* Commitment to excellence
In your cover letter, please indicate interest in one or more of these cities: Boston, Chicago, Miami, Houston, or San Francisco.
Investment Banker: Job Description & Average Salary
Investment bankers help their clients raise money in capital markets by issuing debt or selling equity in the companies. Other job duties include assisting clients with mergers and acquisitions (M&As), and advising them on unique investment opportunities such as derivatives.
Drawn by the allure of high salaries and copious cachet, young, aggressive, ambitious finance students right out of college often gravitate to investment banking. This is one of the few careers in which a 22-year-old with nothing but a bachelor's degree can earn well into the six figures in his first year out of school. Moreover, investment banking often serves as a springboard to even more lucrative and prestigious careers, such as venture capital, private equity and wealth management. Knowing their pitches are well received by hungry finance students, the big Wall Street banks recruit heavily at the Ivy League universities, and additionally at other prestigious schools such as Duke and The University of Chicago.
A common misconception is that anyone great with numbers is well suited to be an investment banker. Though quantitative acumen is a fantastic trait to have, it by no means unilaterally predicts success in investment banking. The best investment bankers, along with being math whizzes, are persuasive, aggressive, quick-witted and have unflappable work ethics.
Investment bankers make big paychecks, but it is far from easy money. The average number of weekly hours worked by a first-year investment banker at the big Wall Street firms, such as Goldman Sachs, has long been north of 80. The financial crisis of 2008 cast a negative light on investment banks, which worked tirelessly during the ensuing years to change the public's perception of them for the better. Some of the adjustments they made were cultural, which included making their work environments more family-friendly. At certain firms, this manifested in better hours, greater flexibility and more family time, though an investment banker's work week, particularly during the first few years, still rarely runs less than 50 to 60 hours.
Investment bankers conduct many jobs for their clients. At some firms, each individual banker wears many hats, while at others, employees are specialized, with different bankers performing different jobs. At the crux of every investment banking role is raising money for clients. This is primarily done in two ways: issuing debt and selling equity in the company.
Issuing debt means selling bonds to investors. When an investor buys a corporate bond, he is loaning money, or capital, to the issuing company for a fixed number of years, usually at a fixed rate of interest. The issuing company makes interest payments throughout the term of the bond, and then when the bond term ends, the company remits the principal back to the investor.
Typically, one of the biggest challenges for a company wanting to raise capital by issuing bonds is finding qualified investors with lots of money to invest. This is where an investment banker comes in; investment banks have entire floors staffed with aggressive salespeople, each with large rolodexes of leads from which to solicit investment business. A company wanting to issue bonds hires an investment bank not only to help structure the bonds but also to tap into the bank's vast network of potential investors.
It works the same way for raising capital by selling equity, or stock. Investment bankers serve as the primary go-to people when a company holds an initial public offering (IPO) to sell stock to the public. Newly public companies are scrutinized beyond belief on how their IPOs turn out. The success, or lack of success, from an IPO often sets a company on an irreversible trajectory, for good or bad. For this reason, companies enlist the help of investment bankers to line up big-time investors and put their IPOs in the most auspicious positions to succeed.
Investment bankers assist clients in additional ways. They help broker M&As, lending their expertise to make sure things go smoothly. When clients seek investing opportunities outside their realms of expertise, investment bankers serve in advisory roles to assist in finding the best opportunities.
At first glance, the barriers to entry for an investment banking career appear pretty navigable. The educational requirements are not particularly rigid. While an MBA is a popular designation in the field, many investment bankers have only bachelor's degrees, and a few have even less than that. The tests a person must pass, such as the Series 7, Series 79 and Series 63, to obtain various securities licenses, while not easy, do not carry the reputation of extreme difficulty held by the bar or CPA exams.
That said, investment banking is a highly competitive field. Because the pay is so high and the job is so prestigious, particularly in cities such as New York, applicants far outnumber job openings every year. Having the right skills and being able to display them is paramount for getting a foot in the door. One of the first advantages comes from attending a top-rated university. An aspiring investment banker cannot go wrong with an Ivy League school, while other elite universities such as Duke and The University of Chicago also generate heavy recruiting activity from the big banks.
A major such as economics or finance provides a good academic base, but other skills needed include persuasion, tenacity and, perhaps most importantly, a tireless work ethic. The competition in the industry does not stop after a job offer is extended. The first few years are tough and serve to weed out a lot of folks who do not belong. Plenty of time is spent on the phone soliciting potential investors and pitching investing deals; those with thin skin, who cannot speak persuasively or tire easily, struggle as investment bankers.
As of 2015, the average starting base salary for an investment banker is between $75,000 and $85,000 per year. However, a first-year banker can add to this amount significantly with bonuses, and the better he performs, the more money he makes. For the first year, $140,000 is commonly regarded as a good total income goal for an investment banker.
This money does not get paid without lots of hours and lots of work. Anyone who is not capable or comfortable working weeks that frequently run in excess of 80 hours should probably look elsewhere for a career. Some banks even feature rooms with bunks; these are for investment bankers who find themselves at the office at midnight or later but realize they still need to be at their desks prior to the next morning's opening bell. Certain investment banks have tried to improve work-life balance as part of a cultural overhaul they hope can rehabilitate the industry's image in the wake of the 2008 financial crisis. However, the day when investment banking is a Monday-to-Friday, nine-to-five career is a long way away, if it ever comes.
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Position Description: Investment Banker
Comments: It can be difficult to create a proper investment banker job description, since there is so much specialization within the field. Generally, an investment banker assists clients with either fund raising or merger & acquisition activity. In the latter case, the level of specialization may extend to just offering advice on certain types of tax-specific transactions, or in regard to corporate spin-offs or reorganizations. In addition, an investment banking firm may have a number of levels through which a person is expected to advance, such as analyst, associate, vice president, and managing director. Consequently, the following job description presents the requirements for a mix of these specialties and positions. The principal accountabilities of the position are:
- Advise clients regarding the amount and type of funds that can be raised, and the cost thereof.
- Develop a persuasive written case for fund raising by a client, which can be used to shop for debt and equity among prospective lenders and investors.
- Assist clients with the development of a presentation regarding their need for funds and how it will benefit a prospective lender or investor.
- Manage a road show to connect clients with prospective lenders and investors.
- Assist clients in negotiating debt and equity agreements with prospective lenders and investors.
- Manage the initial public offering process on behalf of clients.
- Advise clients regarding the most appropriate target companies to pursue.
- Contact target companies on a confidential basis on behalf of client acquirers.
- Develop letter of interest and purchase agreement documents on behalf of clients, including negotiations with target companies.
- Assist clients with shopping themselves to potential acquirers as acquisition targets.
Desired Qualifications: The candidate investment banker must have excellent modeling skills with an electronic spreadsheet, as well as top-notch verbal and written skills. Should have an MBA degree from a top-25 school, as well as a chartered financial analyst certification. Must be able to effectively network with current and prospective clients on an ongoing basis. Must have a excellent knowledge of the finance industry. The typical investment banker specializes in a small number of target industries.
Working Conditions: Will travel a large percentage of the time to visit clients. Also, working hours can be long and intense, as they are dictated by the needs of clients.
Investment banker – operations: job description
Operations staff essentially provide support to the client-facing departments within the company, such as the corporate finance department. Operations ensure that the business generated by such departments is efficiently administered.
The vast majority of banking processes utilise sophisticated IT solutions, and a key task for operations staff is to develop and implement new IT systems. Other typical responsibilities of the job include:
- supervising a team of clerks
- liaising with clients and other bank divisions
- collating and analysing systems information
- troubleshooting problems
- pinpointing ways of improving and developing systems
- ratifying data flows and ensuring accuracy (operations control)
- helping to maximise efficiency and bank profitability
- ensuring that transactions are cleared and settled correctly
- managing day-to-day banking processes
- checking daily transaction reports
- coordinating systems testing.
Investment banking provides high levels of responsibility, good promotional opportunities and decent financial rewards.
Typical employers of operations staff
Investment banking is a very popular career choice and graduate vacancies are highly sought after. Most opportunities occur within global investment banks and private equity fund institutions in London and other major UK and international cities.
Vacancies are advertised in TARGETjobs Finance, by careers services, online, in newspapers including The Financial Times and in publications such as Business Week, Investors Chronicle, The Economist and The Banker.
Sector or company research, attending presentations and networking are essential. There are several graduate schemes available with investment banks. Applications for vacancies should be made as early in the academic year as possible.
Qualifications and training required
Employers often specify that they are looking for people educated to degree level, so it can be hard for school leavers to find work in this field. However, school leavers can undertake study for foundation-level qualifications with a professional body such as the Chartered Institute for Securities and Investment (CISI), and then work up to higher qualifications. This does not guarantee an operations job, but it does demonstrate a high level of commitment and employers may look favourably on this, though it can take several years to become highly qualified enough.
Some companies do offer apprenticeships for school leavers, which could lead to a career in investment operations. For more information about this route, see the finance sector of TARGETcareers, our website aimed at school leavers.
Graduates will need a good honours degree (min 2.1) in any subject. A business studies, management, finance, mathematics or economics qualification can be helpful, as can an MBA or similar professional qualification.
Relevant work experience can be crucial and interns are often hired for full-time graduate roles.
Investment Banker Job Description, Duties, Functions, Roles and Responsibilities
What is the job description and role of an Investment Banker? What are the duties and responsibilities of an Investment Banker?
Investment Banker Job Description
Investment Bankers provide a range of financial services to companies, institutions and governments. They manage corporate, strategic and financial opportunities, including mergers, acquisitions, bonds and shares, lending, privatisations, and initial public offerings (IPOs). Corporate investment bankers also advise and lead management buyouts, raise capital, provide strategic advice to clients, and identify and secure new deals.
Investment banking is frequently used as a catch-all term. In reality, banks are made up of many divisions and investment bankers perform a range of different functions within them. Traditionally, investment banking encompasses corporate finance, as well as mergers and acquisitions (M&A). The definition has blurred in recent years and may also include trading bonds and shares.
The main role of a corporate investment banker is to advise companies, institutions and governments on how to achieve their financial goals and implement long and short-term financial plans. Corporate investment bankers work in dedicated teams, focusing on specific transactions or market sectors. They also work alongside other related professionals such as lawyers and accountants. A typical corporate finance deal involves two stages:
- Origination: assessing a deal’s desirability, which is sometimes an innovative idea from the bank rather than the client. Financial models are used to simulate possible outcomes. This requires a deep understanding of a sector.
- Execution: structuring and negotiating the detailed terms of a deal, often in liaison with other professionals.
Many investment banks deal in three main areas:
- Mergers and acquisitions: assisting clients with expansion to increase profitability, safeguard market position, diversify, and so on. Corporate investment bankers manage the transaction process, assessing the target organisation and the impact of the deal. This involves knowledge of legal and regulatory issues, in addition to sound financial knowledge and an in-depth understanding of the client’s industry.
- Debt capital markets: working with lenders such as financial institutions, agencies and public and private companies to support client debt. This includes restructuring debt, refinancing debt and raising new debt.
- Equity capital markets: advising clients on how much capital to raise, from where and when.
Although dealing with different, specific business areas, project teams liaise with one another during the two phases of a deal in order to obtain relevant specialist information and market intelligence.
Job Description / Duties / Functions / Roles / Responsibilities of an Investment Banker
- thoroughly researching market conditions and developments;
- carrying out financial modelling, then developing and presenting appropriate financial solutions to clients;
- identifying new business opportunities;
- liaising with the chief executive and chief finance officers of large organisations;
- co-ordinating teams of professionals, including accountants, lawyers and PR consultants and working closely with them.