2 answers
Itai
Student
Oceanside, New York
1
Question
Updated
2010 views
Hi, I’m a senior in high school trying to figure out where to focus my business career when I start college next year. What is the day in the life of someone in investment banking or capital markets What is needed to succeed I these fields? #spring25
Hi, I’m a senior in high school trying to figure out where to focus my business career when I start college next year. What is the day in the life of someone in investment banking or capital markets? What is needed to succeed I these fields? #spring25
Login to comment
2 answers
Kevin Yang
Impact Investing
13
Answers
San Francisco, California
Updated
Kevin’s Answer
Hi Itai,
Great question! I worked in investment banking for the first two years of my career after college before transitioning to private equity, then venture capital.
In investment banking you are helping companies with mergers and acquisitions. For example, you are helping a company sell itself to a larger strategic buyer, or perhaps helping a large corporate expand into a new market by acquiring another competitor, or even helping two companies merge together.
In capital markets, you are working on helping companies with financing (i.e., raising money or capital). This could come in the form of equity capital markets (say with an initial public offering) or in debt capital markets (that may even be in conjunction or for the purposes of acquiring another company).
The role of an Analyst is to support anything related to these transactions (and also creating pitch materials for senior bankers to win the business of these corporations). So, that includes things like (1) valuation and financial analyses done in excel, (2) creation of marketing materials done in powerpoint and word, and (3) administrative matters like managing a virtual data room or coordinating internal scheduling. A lot of the day to day is working with an Associate (next promotion up) to execute and iterate on the tasks set forth by the Vice President (mid-management) and Managing Director (senior). Sometimes you'll be in internal meetings with your team, and occasionally you'll be with or in front of the client company.
The workload can be pretty demanding due to the nature of how fast transactions and live deals can move. Capital markets has a slightly lesser workload than investment banking, but generally I'd be mentally prepped to work 75 hour weeks. So, it's not uncommon to be in the office late at night, and on extremely busy live deals, to be clocking 90+ hours a week (though on slow times you may have a 60 hour week).
I think the biggest factor to succeed in these fields is really just a willingness and determination to learn. If you show up with enthusiasm, people will be excited to work with you and teach you (as nobody knows how to do the job when they start -- everyone learns on the job!). Practically though, having a strong foundation and knowledge of accounting and finance will be the most useful skillset going into things.
Cheers to your professional journey ahead! Happy to answer any follow-up questions you may have.
Best,
Kevin
Great question! I worked in investment banking for the first two years of my career after college before transitioning to private equity, then venture capital.
In investment banking you are helping companies with mergers and acquisitions. For example, you are helping a company sell itself to a larger strategic buyer, or perhaps helping a large corporate expand into a new market by acquiring another competitor, or even helping two companies merge together.
In capital markets, you are working on helping companies with financing (i.e., raising money or capital). This could come in the form of equity capital markets (say with an initial public offering) or in debt capital markets (that may even be in conjunction or for the purposes of acquiring another company).
The role of an Analyst is to support anything related to these transactions (and also creating pitch materials for senior bankers to win the business of these corporations). So, that includes things like (1) valuation and financial analyses done in excel, (2) creation of marketing materials done in powerpoint and word, and (3) administrative matters like managing a virtual data room or coordinating internal scheduling. A lot of the day to day is working with an Associate (next promotion up) to execute and iterate on the tasks set forth by the Vice President (mid-management) and Managing Director (senior). Sometimes you'll be in internal meetings with your team, and occasionally you'll be with or in front of the client company.
The workload can be pretty demanding due to the nature of how fast transactions and live deals can move. Capital markets has a slightly lesser workload than investment banking, but generally I'd be mentally prepped to work 75 hour weeks. So, it's not uncommon to be in the office late at night, and on extremely busy live deals, to be clocking 90+ hours a week (though on slow times you may have a 60 hour week).
I think the biggest factor to succeed in these fields is really just a willingness and determination to learn. If you show up with enthusiasm, people will be excited to work with you and teach you (as nobody knows how to do the job when they start -- everyone learns on the job!). Practically though, having a strong foundation and knowledge of accounting and finance will be the most useful skillset going into things.
Cheers to your professional journey ahead! Happy to answer any follow-up questions you may have.
Best,
Kevin
Jerry Bires
career coach
60
Answers
Carbondale, Illinois
Updated
Jerry’s Answer
Itai,
This career is outside my own career experience, but I know one tool that can help you.
Go to LinkedIn and in the search field, search for both:
"investment banking" and "investment banker"
Search both for people and for groups associated with each search results. You can also search for jobs for each.
This can open networking opportunities for you to further help answer your questions.
Good fortune to you.
This career is outside my own career experience, but I know one tool that can help you.
Go to LinkedIn and in the search field, search for both:
"investment banking" and "investment banker"
Search both for people and for groups associated with each search results. You can also search for jobs for each.
This can open networking opportunities for you to further help answer your questions.
Good fortune to you.