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Investment Banking Analysts

The Job

Investment banking is the term used to describe the business of raising capital for companies and advising them on financing and merger alternatives. Within an investment bank, analysts typically work for either an industry group (e.g., health care, industrials, financial institutions, technology, oil and gas, etc.) or a product group (e.g., mergers and acquisitions, leveraged finance, restructuring, equity capital markets, debt capital markets, etc.). Industry groups do different tasks for only one industry, while product groups perform the same tasks for different industries. Job responsibilities for analysts vary by employer, but most have the following duties:   

  • conduct research and prepare analyses of companies, industries, capital markets, historical financial statements, and prospective financial information
  • create and author financial models, valuation analyses, debt capacity and capital adequacy analyses, as well as prepare documents and presentations for proposals and transactions
  • follow stocks and bonds and make recommendations to outside investors on whether to buy, sell, or hold those securities
  • prepare financial models and assist in transaction due diligence (gathering and studying annual and quarterly financial reports, audited financial statements, balance sheets, etc.) and project support
  • support management in researching and creating marketing pitch books to target or support certain clients, industries, or advisory activities
  • maintain financing source, investor, or client databases to create efficiencies in the deal-marketing and execution process, as well as other databases
  • assist in the identification of deal-appropriate investors
  • assess industry research and trends
  • prepare client presentations and materials for senior bankers and assist them during client meetings
  • respond to client phone calls and e-mails
  • serve as a gofer occasionally, fetching coffee or lunch for associates and investment bankers, collating photocopies, and managing the creation of prospectuses and other documents through the editorial and production pipeline
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