Associate - Investment Banking Salary
Job Description for Associate - Investment Banking
Associates in investment banking are usually recent MBA graduates. They may also be internal staff, who were promoted after three or more years working experience as financial analysts. They perform extensive investment valuation analyses. They must be consumer-focused. They must have direct investment banking experience.Read More...
Some employers require that associates maintain series 6 and/or 7 certifications, issued by the Financial Industry Regulatory Authority. They must be knowledgeable about Security Exchange Commission rules and regulations that are relevant to investments and security trading. They may also be required to keep their mortgage and insurance licenses current, as required by their states. They must be ethical and honest. They must maintain integrity and avoid conflicts of interest. They must have strong management, analytical, and technical skills. They must have excellent leadership and customer service skills. They must act as experts in industry-specific and/or investment banking products. They must initiate new client relationships and build current business relationships. They must be problem-solvers.
Most employers require that candidates have a bachelor’s degree in marketing, business, finance, or related fields, but they prefer candidates with an MBA. They must keep themselves up to date with new investment banking products and services by reading relevant professional journals and business publications. They may have to attend various conferences relevant to their job.
Associate - Investment Banking Tasks
- Manage client portfolios, evaluating profitability and conducting financial transactions.
- Attend meetings with clients and prepare presentations providing an overview of clients' investment portfolios.
- Analyze investment strategies, identify potential investments, and conduct risk assessments.
Common Career Paths for Associate - Investment Banking
Many Investment Banking Associates move into a VP of Finance role, and folks who currently hold that position report a much higher median income of $138K per year. Going from Investment Banking Associate to Investment Banking VP is the transition that occurs most often in this field, where the paychecks are $136K. Many others choose to work as Senior Financial Analysts, where pay is typically $76K.
Associate - Investment Banking Job Listings
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Popular Skills for Associate - Investment Banking
Just a handful of professional skills are reported by Investment Banking Associates who took the survey. Most notably, skills in Financial Modeling, Project Management, Financial Analysis, and Microsoft Excel are correlated to pay that is above average, with boosts between 5 percent and 20 percent. Skills that are correlated to lower pay, on the other hand, include Valuation. It is often found that people who know Financial Analysis are also skilled in Project Management.
Pay Difference by Location
For Investment Banking Associates, working in the bustling city of San Francisco has its advantages, including an above-average pay rate. Investment Banking Associates will also find cushy salaries in New York (+26 percent), Los Angeles (+24 percent), Houston (+14 percent), and Chicago (+4 percent). With compensation 10 percent below the national average, St. Louis is not known for hefty paychecks and actually represents the lowest-paying market. Employers also pay below the national average in Atlanta (7 percent lower) and Columbus (6 percent lower).