A Day in the Life of an Investment Banking Associate at a Middle Market Investment Bank
A day for an investment banking associate at a middle-market firm is a mix of "live processes," such as working on deals that are "long engagements, six to 12 months," and pitches to win new business. The work is "really busy, really fast paced," but the most rewarding aspect is learning about "a lot of different industries, about a lot of different companies and how they function."
Finance, Investment Banking, Mergers and Acquisitions, Fast-Paced Environment, Deal Process
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Jonathan Freeman
Investment Banking Associate
Middle Market Investment Bank
CWRU
UCSD Master of Finance, UCLA FTMBA
Economics
Finance (Banking, Fintech, Investing)
Finance
Student Athlete
Video Highlights
1. The day-to-day work of an investment banking associate varies greatly, involving multiple projects simultaneously. These projects include live deals (deals already underway), where associates might prepare presentations for potential buyers or conduct due diligence, and pitches, where they work to secure new business mandates.
2. Associates work on live deals for extended periods (6-12 months), and the work is fast-paced and demanding.
3. A key benefit is gaining exposure to diverse industries and companies through the various projects undertaken. This provides valuable learning opportunities about different business operations and functions.
Transcript
What does a day in the life of an investment banking associate look like?
The day-to-day of an investment banking associate varies. Typically, you're working on a few processes simultaneously. These are called "live processes" when they've launched to market or when you've won the mandate.
When you've been hired as the investment bank to represent a company being sold, you're either in preparation, creating the "SIP" (the first presentation buyers see), or you're in due diligence. You could also be nearing the end of a transaction. You might have one or two such live deals, or even more if business is particularly active.
In addition to live deals, you'll likely have occasional "pitches" where you're trying to win new business. Companies considering a sale invite investment banks to pitch for their business. These pitches are a sprint, requiring you to work for a few weeks to secure the mandate.
The day-to-day involves working on a few live deals, which are long engagements lasting six to 12 months. You'll also be handling a few pitches. It's a busy, fast-paced environment.
The best part of investment banking is the opportunity to learn about many different industries and companies, and how they operate. That's my favorite aspect of the daily work.