Senior Associate - Investment Banking Salary
The average pay for a Senior Associate - Investment Banking is $82,856 per year. Most people move on to other jobs if they have more than 20 years' experience in this career. A skill in Financial Modeling is associated with high pay for this job.
Job Description for Senior Associate - Investment Banking
Being a senior associate of investment banking requires leadership ability, experience, knowledge, and foresight. The primary duties of this position are to advise and handle other people's money, so there is a high degree of accountability as the wrong decisions not only affect the senior associate, but also his/her bank and its clients. Some customers have enough riding on their investments to make or break them.Read More...
A senior associate in investment banking presides over a team of associates who handle client portfolios and advise clients on their investments. Handling the actual investments is also a responsibility; they must be well-aware of all forms of investment risks so they can properly inform clients on potential gains and losses, as well as the likelihood of either. The senior associate tends to handle the highest-profile clients, which are those with the most to gain or lose. These are often business accounts rather than individuals.
The working environment for this position is usually an office within a bank. They have their own office and work with typical materials such as telephones and computers. Their working hours are normal business hours from around 8 AM to 6 PM Monday through Friday and they are expected to dress rather formally.
The educational requirements include a Master's degree in Business Administration or a related field. Those in this position must also have particular certifications or licenses depending the state in which they reside. Several years of banking and investing are essential and at least two years of advising and/or supervising experience is highly recommended.
While nobody is perfect at predicting how markets will unfold, senior associates in investment banking must be far better at this skill than the average individual or even lower-level investment professionals in the same field. People rely on them to handle their money and build on it in the best possible manner. More importantly, they are relied on to protect their clients' money so they never have to experience a major loss, and provide good leadership over a team of investment associates in achieving the same goals.
Senior Associate - Investment Banking Tasks
- Conduct due diligence and other analyses.
- Manage and mentor other associates, including reviewing their work.
- Analyze complex financial data to provide forecasts, models and reports.
- Conduct research and create reports and presentations on findings.