What do Junior Investment Bankers do?

When you join an investment bank, you will probably start your career as a junior, assisting senior bankers and doing a whole lot of other activities.

You will either be a part of the product bankers (leveraged finance, Mergers and acquisitions, capital markets) or industry bankers (healthcare, energy, telecom, etc.).

When you go through the training at the bank, you will be trained for both the roles; however, there will be some differences.

Industry Bankers

In the industry bankers group, you will be responsible for assisting the senior bankers in managing relationship with the clients.

General activities include:

  1. Develop presentation materials for client meetings (i.e. pitch books)
  2. Build detailed financial models and perform valuations.
  3. Work with the product groups to ensure that all material is client ready.

Product Bankers

Product bankers are responsible for more transactional work.

General activities include:

  1. Build financial models (i.e. M&A models, discounted cash flow, and leveraged buyout models, etc.)
  2. Work with and support industry bankers in product specific analysis

In general, both the bankers work together on client pitches and transactions, there is a demarcation on who handles what activity. All the work involves a lot of communication in the form of documents, emails, and meetings.

Some of the skills that you require to join the investment banking industry include: problem solving, accuracy/attention to details, writing skills, strong numerical skills, work ethics, knowledge of accounting standards, spreadsheet/excel skills, and the ability to multi-task.

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