Will being a 1099 IB associate mess me up in the long term?

I’m an investment banking associate (since Jan) with a boutique firm I been with since I was an intern and worked my way up. I have my SIE, S63, and S79.

I received a FT analyst offer a week before graduation in 2023 and I was happy to have received something. We are a small team and we close a deal every 2-4 months, mostly private placements. The firm has me as a 1099 independent contractor, but they paid for my licenses, I’m on the website, and have almost reached 6 figures this past year.

I been thinking of the long term and wanted to ask if being a 1099 will affect me in the future? Will I be able to transition to a W-2 role / will firms take me serious given the 1099 status? I plan to leave IB in a year or so but feel stuck and am worried about this 1099 status. Thank you all in advance and I look forward to your help.

1 Comments
 

Quibusdam et nam tempora saepe ad quae. Quaerat et veniam eum in vitae. Nulla fuga quidem fugit et unde. Assumenda minima neque et dignissimos commodi voluptate.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
DrApeman's picture
DrApeman
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
CompBanker's picture
CompBanker
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”