Has the IB Analyst to IR Associate pathway dried up?

I have noticed most IR Associates used to be people who completed an analyst IB program then transitioned to IR / Capital formation/ etc. 

But it seems like that is much more rare now. IR teams seem to skip over IB analysts now for the most part. They have become a lot more competitive seats to get. 

Can any people who are in IR who recruit for their teams provide more color to confirm if there has been a shift away from IB analysts over the last ~2 years? 

4 Comments
 

are you in a bad group/bank or something? Feel like anyone in IB who wants IR can get it. Maybe not in the preferred company but it’s generally very, very easy to get interviews, much more so vs investing seats. 

 

JPM / GS / MS and good industry group. Non target undergrad though. 

Have got a few IR interviews but not as many as you would think. And people I see who land the roles are either 2nd / 3rd year IB associates or laterals from other PE / IB / advisory firms who were already doing the same work. 


I had a mega fund try to discount my IB experience and say I would have to come in as a 1st year IR analyst which I felt was kinda crazy, I got the vibe they were still going to work me like an associate at a lower title and discounted rate.

Among my network of hundreds of IB analysts on LinkedIn, I only know personally one who landed an IR associate spot. Just seemed kinda crazy. 

 

 

I think it's probably more indicative of the state of the overall job market than specifically IR (but that's just my guess). As someone who was in your shoes, it's not you it's the market. Keep your head down and keep grinding applications

 
Most Helpful

Sequi rerum ullam dicta aspernatur et. Autem consequatur numquam omnis consequatur illum culpa et sint.

Ipsa voluptas adipisci dolor cumque fugiat dolor quo. Accusamus mollitia tempora provident vel quia qui sint. Quos dolores quas voluptatum. Aspernatur impedit excepturi est voluptatem accusantium.

Praesentium pariatur blanditiis qui aut. Assumenda ad aspernatur eaque non. Vero sit quia at rem enim rerum. Sint hic expedita ut asperiores commodi tempora accusamus. Quibusdam consequatur sapiente repudiandae. Nisi incidunt aperiam voluptas nihil nam porro repellendus.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Goldman Sachs 01 97.8%
  • Morgan Stanley 07 97.3%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 07 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (51) $260
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (26) $182
  • Intern/Summer Associate (14) $159
  • 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
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
DrApeman's picture
DrApeman
98.9
6
dosk17's picture
dosk17
98.9
7
CompBanker's picture
CompBanker
98.9
8
GameTheory's picture
GameTheory
98.9
9
Betsy Massar's picture
Betsy Massar
98.9
10
bolo up's picture
bolo up
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...”