I have worked in investment banking now for over a year, and have been the analyst on 5 completed deals. I take pride in my work, and am constantly looking to grow. That said, my current post has me doing the following duties:
1) Compiling Financial records. I willrecvive the clients financial records, sort through them and get answers to any numbers that seem out of place.
2) Create financial models. Using the financial I have entered into Excel, I will create three-statement covenant models.
3) Create the deck/ executive summary/ business plan. I will research the company, create these books/deck, input the models I created, and give it a firm review.
4) Send the books to the clients for their approval. Once the books are done, I will walk through the book with the client, and clean up any errors.
5) Create the term sheet. Given the information that the client has told us (what they are looking for, equity, debt, etc.) I will put that on paper for our the client and the lender.
6) Remain in contact with the client through the process till the closing of the deal.
Am I doing any more, or any less than most of you, or does this about sum up your duties as an Banker?
Seems like the standard set of 1st year analyst duties to me. If you have capacity and are really looking to impress, it never hurts to ask for more assignments.
What do typical 2nd years do?
The roles/responsibilities of Analysts and Associates (Originally Posted: 08/14/2006)
Just wondering what the roles/responsibilities of analysts/associates are at your respective IBK shops. Seems like they vary from place to place. Ive heard of some shops where the analysts do all the comps and the associates focus on the modelling whereas others have the analysts do both comps & modeling and associates just review/check analysts work...
Analyst: analyze stuff. Take crap from associates. Associate: make pitchbooks/a bit of client contact. Take crap from both ends. (analyst AND VP/MD)
why would an associate take crap from an analyst?
For being a crappy associate.
So holymonkey, when u mean the analysts analyze stuff, would it include modeling too? I agree that everyone shits on the associate.
Analyst can crap on the associates by doing shitty work, such as bad models, comps, or any other anlalysis.
I expect analysts to be able to put together (not from a template) decent models. I'll be involved in checking them/ tweaking/ whatever, but they should start them off and make a pretty good stab at them....
what do you do at your ibanking jobs? (Originally Posted: 07/23/2009)
So I have heard about how bankers work 80+ / week, and sometimes they do a lot of grind work. I'm just wondering what all those hours are for. i.e. what do they really do?
Reading the news, getting coffee, researching and spreading comps, modeling, drafting and reviewing credit memos and IMs and pitching, pitching and more pitching. I actually just recently put out an article on what an analyst does - the pitch, where I quickly run through why exactly it takes so damn long to create a pitchbook. Remember, it's not so much what an analyst does (as in individual tasks), as it is the redundancy, down time for others to review/edit/change, and constant back and forth up and down the chain with ideas and messages constantly changing before finally printing the books for the meeting.
IBanker www.BankonBanking.com [email protected] Articles, News, Advice and More Break Into Investment Banking
BankonBanking, did I see it right or you have this gay thing of recipes in your blog???
What the f*** is that shit??!?
Yes I do, and I'm so pleased to see that you find it, as you said, "gay." I am a powerlifter and a bodybuilder, and, unfortunately, that means I have to eat quite a bit throughout the day. After talking with a few colleagues and people who have visited the site, I decided to add that little extra to the sidebar to be updated every so often with easy ideas for lean protein shakes or meals that are high in protein and such, that you can pack up and bring with you to have as a dinner of post gym snack/shake instead of buying protein shakes every day, or eating the same fast food. I realize it is not for everyone, but if you happen to see something that sounds appetizing after the gym or just in general, then go for it. I like variety in my food, or at least in the way it's cooked and seasoned (I usually eat steak and chicken), so I figured others might as well. But now we are off topic from the Op's original question, which had nothing to do with the sidebar on my site. Thanks for visiting though.
IBanker www.BankonBanking.com [email protected] Articles, News, Advice and More Break Into Investment Banking
You're one hell of a class act.
I see nothing wrong with trying to stay in shape in spite of a grueling work schedule. Healthy food does a whole lot more than reduce the amount of pudge on your waistline.
Anyway, back on topic. Don't wanna hijack the thread.
Well we haven't officially announced the release, but if you want a lot of detail on what a banker does day to day you can buy the recent publication we just released called "A Look Behind the Wall: An Overview of 6 Wall Street Career Paths"...I think it is a great way for college students to figure out where they want to go and young finance professionals trying to figure out where they want to exit.
//www.wallstreetoasis.com/guide/a-look-behind-the-wall
...or if you don't want to spend the $ you could just read the forums and search through the archives for a "day in the life". I am sure there are several lengthy descriptions that would help out.
Good Luck, Patrick
Elite GMAT Tutors: //www.wallstreetoasis.com/page/one-on-one-gmat-prep Invite Monkeys Here: //www.wallstreetoasis.com/invite WSO Guides: //www.wallstreetoasis.com/wsoguides Follow WSO on Twitter: http://twitter.com/wallstreetoasis
I was wondering if you could elaborate on the guide. It doesn't mention which 6 career paths it actually covers.
"Included in the guide are chapters on investment banking, private equity, venture capital, private wealth management, hedge funds and management consulting."
basically it profiles these 6 career paths by giving detailed examples from 6 certified users of WSO. hope that helps.
-Patrick
Elite GMAT Tutors: //www.wallstreetoasis.com/page/one-on-one-gmat-prep Invite Monkeys Here: //www.wallstreetoasis.com/invite WSO Guides: //www.wallstreetoasis.com/wsoguides Follow WSO on Twitter: http://twitter.com/wallstreetoasis
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