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
- Analyze investment strategies, identify potential investments, and conduct risk assessments.
- Attend meetings with clients and prepare presentations providing an overview of clients' investment portfolios.
- Manage client portfolios, evaluating profitability and conducting financial transactions.
Common Career Paths for Associate - Investment Banking
Investment Banking Associates might see a strong upturn in salary after transitioning into upper-level roles such as VP of Finance, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $139K per year. An Investment Banking VP role is the most common promotion for Investment Banking Associates moving up the ladder, and pay for the position tends to be around the $136K mark. Another typical, albeit less common, transition for Investment Banking Associates is a Senior Financial Analyst position, where earnings are usually $76K.
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Popular Skills for Associate - Investment Banking
Typical Investment Banking Associates report a focused set of job skills. Most notably, facility with Financial Modeling, Project Management, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 23 percent, 7 percent, and 6 percent, respectively. Those familiar with Financial Analysis also tend to know Project Management.
Pay Difference by Location
For Investment Banking Associates, busy San Francisco offers a higher-than-average pay rate, 107 percent above the national average. Investment Banking Associates can also look forward to large paychecks in cities like Los Angeles (+26 percent), New York (+16 percent), Houston (+15 percent), and Phoenix (+9 percent). Investment Banking Associates in Kansas City report much lower salaries than the rest of the country — 50 percent below the national average — proving that residence is a major factor in overall pay. Employers pay around 9 percent less in St. Louis and 6 percent less in Atlanta, below-median salaries for those in this field.
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