The daily tasks can vary depending on which exact field of investment banking one enters. A general synopsis is that investment bankers are financial planners and will assist in tasks related to this activity.
The career of an investment banker progresses along a fairly standard path. Investment banking positions from junior to senior:
- (glorified grunt)
- (account manager)
- (senior account manager, rainmaker in training)
Some banks call certain investment banker positions different names or have added levels of hierarchy. For example, sometimes banks separate Senior Vice President from Vice President. Other times, Director is split up into Director and Executive Director (more senior). However, regardless of the names, the general job functions of each relative position tend to be consistent bank to bank.
If you are an undergraduate, you are applying to banks with the aim of landing an investment banking analyst position. Assuming you do well, have an interest in staying, and there is a need, some banks offer direct promotions from analyst to associate instead of requiring that you go back and get your MBA (typically called “A to A”). If you are an MBA student, you are applying to banks with the aim of landing an investment banking associate position and aspire to work up the ranks to Managing Director one day.
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