A Day in the Life of an Investment Banker (2024)

The investment banking lifestyle is fast paced and very demanding. On any given day, investment bankers are busy from dusk til dawn with meetings, projects, and presentations. They usually eat all three meals at work and don’t go home until late at night.

Despite the long hours, investment banking is one of the most sought-after roles in the finance world with an average startingbase salaryof $85,000 per year1 — $34,000 more thanthe national average salary for first year post-college jobs2.

Annual bonuses for the finance industry are extremely attractive with bonuses from the top banks ranging from $50,000-$100,000 depending on performance and rank.

While the financial rewards are promising, the role of an investment banker consists of long work days and high levels of stress. However, those who manage their time and work ethic wisely will see the returns of their hard work tenfold.

A Day in the Life of an Investment Banker (1)

What Is An Investment Banker?

Investment bankers meet with clients, send emails, prepare offers, conduct financial projections, work on signing new clients to the company, providing initial public offerings (IPOs), and mergers and acquisitions.

These are some of the tasks an investment banker must do on a daily or weekly basis. With the rise in modern technology, the investment banker is now available even after leaving the office transitioning to an always accessible investment banker lifestyle.

The Morning

Once an investment banker gets through the first few weeks at a new company, a routine starts to form for their workweek. An investment banker may work up to 80 hours a week due to the demand from their work.

Mornings usually consist of team meetings and responding to emails from clients, senior bankers, or coworkers. From the time an investment banker enters the office at around 9AM until they take their lunch break, the morning hours are fairly smooth sailing and not hectic.

The Afternoon

Majority of an investment banker’s workload occurs during the afternoon. Investment bankers are able to take a 30 minute to 1 hour lunch break that is usually spent with coworkers within the same department.

When the lunch break is over, investment bankers are tasked with reviewing documents and amending financial statements to create reports for senior bankers to present to clients. These tasks are time consuming and usually puts a lot of stress on the bankers working on the deal.

Investment bankers must double-check and in most cases, triple-check their work to prevent mistakes in the reports. Companies cannot afford to make mistakes because these are costly and time consuming to redo and could result in the client backing out of the deal.

The Evening

As the sun sets, investment bankers start to review their work from the morning and early afternoon and revise as necessary after reading comments from senior officers and analysts.

Investment bankers are usually found eating their dinner in the office anywhere from 7-9PM after finishing their revisions. Post-dinner, investment bankers work closely with other departments to prepare presentations using IT software in preparation for the following work day’s meetings.

First-year investment bankers often leave the office between 11PM-1AM and get ready to repeat their work the following morning.

The life of an investment banker is taxing on your body and mind, but well-rewarded from the higher than average salary. It may seem daunting for most with the extreme workload and responsibility that comes with the job, but with experience you could break into the finance world with ample real-world experience.

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References:
  1. Investopdia, Dotdash Publishing, Investment Banker, Job Description & Average Salary: https://www.investopedia.com/articles/professionals/121515/investment-banker-job-description-average-salary.asp
  2. Society for Human Resource Management, Average Starting Salary for Recent College Grads Hovers Near $51,000: https://www.shrm.org/resourcesandtools/hr-topics/compensation/pages/average-starting-salary-for-recent-college-grads.aspx
A Day in the Life of an Investment Banker (2024)

FAQs

What is a typical day of an investment banker? ›

The position requires bankers to be competent communicators with the ability to manage their schedules effectively. In a typical workday, an investment banker may dedicate the morning to financial research, the afternoon to meetings with clients and colleagues and the evening to the creation of pitch books.

Do investment bankers have a good life? ›

An investment banker's life is considered to have long working hours, working on weekends, a lot of hard work, and little sleep.

Do you get days off as an investment banker? ›

Seniority plays a big role in vacation time as more experienced bankers are typically given more time off to recharge and take a break from the grueling demands of the job. Typically, entry-level investment bankers, for instance, can expect to receive around 10-15 days of vacation per year.

What exactly do investment bankers do? ›

Investment bankers help their corporate clients secure funds in the capital markets, act as financial advisors, and occasionally help companies navigate mergers and acquisitions. Investment banker positions vary from entry-level to high-level executive.

Do investment bankers make 500K a year? ›

Ways to make a lot of money in this world

Sure, anybody can make a good living being a doctor or a lawyer or an investment banker where you can make ~$200-500K per year a few years after you finish with your studies, but you hit a ceiling very quickly unless you start your own practice (aka start your own business).

Do investment bankers work 7 days a week? ›

Many Analysts might be working more like 80-90 hours per week rather than 70-80. That may not sound significant, but it's the difference between 12.5 hours per day for 6 days with one day off and 12.1 hours per day with no days off.

How rich do investment bankers get? ›

2024 Investment Banker Salary and Bonus Report: The Ugly, the Ugly, and the Ugly
Position TitleTypical Age RangeBase Salary (USD)
Associate25-35$175-$225K
Vice President (VP)28-40$250-$300K
Director / Senior Vice President (SVP)32-45$300-$350K
Managing Director (MD)35-50$400-$600K
1 more row

Why are investment bankers so rich? ›

Investment bankers make money through the fees charged to their clients. As discussed above, this includes underwriting fees for arranging the sale of securities and advisory fees for providing strategic guidance.

Do investment bankers really work 100 hours? ›

Most former bankers have reported that it is quite uncommon for an analyst to hit the 100-hour mark. Apparently, this only happens occasionally (once a month) when an analyst is working on multiple live deals or poorly aligned international projects.

What is the Goldman Sachs 15 minute rule? ›

Have you ever heard of Goldman Sachs' 15-minute rule at Goldman Sachs? It means you have to respond to an email in 15 minutes or less no matter what. It doesn't matter if you: - showering - hiking in the mountains - attending your son's wedding - saving someone from a drowning vehicle Unreasonable?

How much sleep do investment bankers get? ›

While working in Investment Banking, the average bedtime on weekdays for me was 1:29 AM, with an average sleep duration of 5 hours and 56 minutes. On weekends, the average bedtime was 12:02 AM, with an average sleep duration of 8 hours and 29 minutes. However, behind these figures are large fluctuations day by day.

What do investment bankers do on weekends? ›

Investment banking requires a high level of adaptability, and you're required to respond quickly to new projects and needs of clients. In some cases, a client might require immediate input, even late at night or during weekends.

How stressful is investment banking? ›

Investment banking is a demanding and competitive field that can take a toll on your physical and mental health. Long hours, high pressure, and tight deadlines can cause stress, burnout, and anxiety. However, there are ways to cope with these challenges and maintain a healthy work-life balance.

What is the personality of an investment banker? ›

Essential Qualities for an Investment Banker

Finally, would-be investment bankers need to be self-motivated, good communicators, natural leaders, and team players, too. You also need to have a strong sense of professionalism at all times.

What is the typical day of an investment analyst? ›

carry out financial modelling and projection. draft and write research reports for fund manager or client use. meet with and provide information to fund managers; this might include summaries of research, investment ideas, key events from the proceeding day as well as key drivers for the day ahead.

What are the daily tasks of an investment banking analyst? ›

Investment banking analysts look at companies by examining earnings and profit as well as market trends within the industry. In addition, investment banking analysts need to read company websites and do other online research to extract the core services and products of the company being analyzed.

Is it hard to be an investment banker? ›

Becoming an investment banker requires several years of higher education in addition to licensure. It also requires strong mathematical and analytical capabilities, which may be challenging for some people. In addition to a bachelor's degree, investment bankers may need a master's in finance or an M.B.A.

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