Entry-level positions for aspiring M&A Investment Banking Financial Analysts at Houlihan Lokey
The most common entry-level position in investment banking is a financial analyst role, a position which typically lasts three years before promotion; however, many analysts are quickly recruited to buy-side roles at private equity firms "within six months of starting the job". Despite the different career paths, the day-to-day work can be surprisingly similar, as noted by David's experience comparing notes with a friend who took the buy-side route.
Financial Analyst, Investment Banking, Mergers and Acquisitions (M&A), Private Equity, Career Progression
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
David Crosson
M&A Investment Banking Associate
Houlihan Lokey
Yale University
MBA from Kellogg School of Management at Northwestern University
Economics
Finance (Banking, Fintech, Investing)
Finance
None Applicable
Video Highlights
1. Entry-level positions in finance are typically financial analyst roles.
2. Financial analysts usually work for about three years before being promoted to associate positions.
3. Many analysts are recruited by private equity firms within six months of starting their jobs, offering an alternative career path.
Transcript
What entry-level positions are there in this field that an undergraduate college student might consider?
Finance is very standardized. The entry-level position is almost always a financial analyst, and you'll work in that role for about three years, at which point you'll be up for promotion to an associate position.
Many analysts, though, get quickly recruited within six months of starting the job to go buy-side at a private equity firm. If that is something that might interest you, you can look up books on going buy-side.
Realistically, especially when you're young, it's not that different. My friend and I both started at the same bank, sat next to each other. He left for private equity after six months; I stayed and was internally promoted.
Years later, we compared notes. Our work was very similar. I had a better experience because I had a great team. Fortunately, there's a lot of clarity and very little ambiguity once you're in. It's a very clear path forward.