Skip to:

  • Skip to main content
  • Skip to accessibility
City, University of London
  • Student Hub
  • Staff Hub
Search
Menu
Home
  • Prospective students
    • Courses
      • Undergraduate degrees
      • Apprenticeships
      • Foundation courses
      • Postgraduate taught degrees
      • Postgraduate research degrees
      • Short courses
      • Professional development courses
      • City Health courses
    • Apply
      • Entry requirements
      • How to apply
        • Undergraduate
        • Apprenticeship
        • Information for teachers
        • Postgraduate taught
        • Postgraduate research
          • Preparing your application
            • Preparing your research proposal
          • All PhD research projects
        • Booking Short Courses
          • Business and Management Short Courses
          • Computing Short Courses
          • Creative Industry Short Courses
          • Creative Writing Short Courses
            • The Novel Studio published alumni
          • Law Short Courses
          • Languages Courses Online | Languages Courses in London
      • Prospectus
        • Undergraduate
        • Postgraduate
      • Visas
        • Student visas
          • Applying from outside the UK
          • Applying from within the UK
          • Applying for a dependant visa
          • Preparing your application
          • Working in the UK
        • Standard Visitor visas
          • How to apply for a Standard Visitor Visa
          • Non-visa nationals
        • ATAS certificates
        • Brexit and European nationals
      • Study abroad programmes
        • Study abroad programme
        • Partnership programme
      • Clearing
        • Applying through Clearing
      • Alternative entry routes
        • Foundation programmes
        • Second-year students
        • Work experience
      • Contact Admissions
    • Finance
      • Funding options
      • Earn while you learn
      • How to pay
        • Payment methods
        • Fee schedules
        • Deposit refunds
      • Additional expenses
    • Accommodation and housing
      • Compare residential halls
      • Applying for halls
        • Undergraduate
        • Postgraduate
        • Clearing
      • Paying for halls
      • Private accommodation
        • Finding a place to live
        • Accommodation for families
      • Short-term accommodation
    • Open events and fairs
      • Campus tours
      • Online chats
        • Undergraduate online events
        • Postgraduate online events
        • Ask a student
      • University fairs
    • Student life
      • London experience
      • Local area
      • Sports
        • Sport clubs
        • Non-competitive sport
        • Competitive sport
      • Social activities and groups
      • Religion
      • Lesbian, gay, bisexual, transgender and queer plus
      • Volunteering
      • Student wellbeing
        • Your health and wellbeing
        • Learning support
        • Young, estranged students
        • Care leavers
        • Young adult carers
        • Personal tutoring programme
      • Learn another language
    • Career development
      • Placements, internships and employment opportunities
        • Micro-placements
      • Career pathways
      • Job prospects and graduate destinations
      • Careers team
    • Subjects
  • Research
    • Research centres and groups
    • Research impact
      • Research Excellence Framework
      • Research case studies
    • Research strategy
    • Research support
      • Grants and funding
      • Integrity and ethics
        • Research ethics
          • Principles
          • Approval process
          • Approval outcomes and appeals
          • External ethics approvals
        • Ethics guidance and resources
          • Participant information and consent
          • Recruiting participants from City
          • Records management
          • Research conducted abroad
          • FAQ
        • Research integrity
          • Framework for good practice in research
          • Research misconduct
      • Research data
        • Managing active research data
        • Digital research data and Figshare
      • Researcher development
      • Presidential Fellowships job advert
    • City Doctoral College
      • Current Doctoral Researchers
      • Doctoral Training Resources
        • Doctoral Researcher Development Programme (DRDP)
      • Scholarships and Funding
      • For Research Supervisors
      • Meet the Team
  • For businesses
    • Start your business
      • Develop your startup idea
        • One-to-one startup advice
        • The Good Entrepreneur Festival
        • Startup Camp
        • Startup Seminars
        • Side Hustle
        • CitySpark Workshops
      • Launch your startup
        • Start-up visa
        • Launch Lab
    • Grow your business
      • Fund your business
        • Knowledge Transfer Partnerships
      • Hire an academic consultant
      • Purchase our intellectual property
      • Companies formed
    • Develop your people
      • Bespoke training
      • My Home Life England
      • Degree apprenticeships for business
        • What is the apprenticeship levy?
    • Business impact case studies
    • Access our student talent
      • Recruit with us
      • Meet and support our students
        • Become a mentor
        • Employer engagement events
        • Micro-Placements
        • Industry Led Projects
      • Information for placement partners
        • Speech and Language Therapy training
  • Alumni and supporters
    • Alumni benefits
    • Alumni Events
    • Global alumni network
      • Networks and Groups
        • City Alumni LinkedIn groups
        • MENA Alumni Board
        • US Alumni Board
      • Alumni Ambassadors
      • Special Interest Groups
      • Alumni News and stories
    • Contact us
    • Support City
      • Donate to City
      • Volunteering
      • Your impact
  • News and events
    • News
    • Events
    • Social media directory
      • City social accounts
        • WeChat social accounts
      • School and Departmental accounts
  • About us
    • Schools and Departments
      • School of Policy & Global Affairs
        • About the School
          • Athena Swan
        • Department of Economics
        • Department of International Politics
        • Department of Sociology and Criminology
          • Postgraduate Sociology at City
      • School of Communication & Creativity
        • About the School
          • Athena Swan
          • Creatives in Residence
        • Department of Journalism
          • James Cameron Memorial Lecture
            • Lectures
            • Special awards
            • Winners
        • Department of Media, Culture and Creative Industries
          • English, Publishing and Creative Writing
          • Culture and the Creative Industries
          • Library and Information Science
          • Media and Communications
        • Department of Performing Arts
        • The Centre for Language Studies
      • Bayes Business School
      • School of Health & Psychological Sciences
        • About the School
          • Athena SWAN
          • Selection Process
          • Occupational Health Checks
          • Disclosure and Barring Service (DBS) enhanced check (formerly CRB)
          • MSc Nursing - RPL
          • Reference request
        • Department of Health Services Research and Management
          • Health Services Management at City
        • Department of Language and Communication Science
        • Department of Midwifery and Radiography
          • Radiography undergraduate learning contract
          • Postgraduate Midwifery at City
          • Radiography at City
        • Department of Nursing
        • Department of Optometry and Visual Sciences
        • Department of Psychology
      • School of Science & Technology
        • About the School
          • Athena Swan
          • Aviation Management at City
          • Civil Engineering at City
          • Computer Science at City
          • Cyber Security MSc courses at City
          • Energy MSc courses at City
          • Library and Information Science at City
          • Maritime Management at City
          • Placements and internships
            • Placement and internship schemes
        • Department of Computer Science
        • Department of Mathematics
          • Potential PhD projects
        • Department of Engineering
      • The City Law School
        • Academic programmes
          • Undergraduate degree LLB
          • Graduate Entry Law GE LLB
          • Graduate Diploma in Law GDL
          • Master of Laws (LLM)
        • Professional programmes
        • Research and Scholarship
        • Athena Swan in The City Law School
        • Equality, Diversity and Inclusion at The City Law School
        • Barrister training
          • Bar Training
          • Pupillage Advice Service
        • Solicitor training
          • Future Solicitor Advisory Service (FSAS)
          • The Solicitors' Qualifying Exam (SQE)
        • Law in real life (Law IRL)
          • Legal work placements
          • Court visits
          • Mock Trials
        • About The School
          • Prizes from The City Law School
          • Global Engagement
      • Dubai Centre
    • History
    • People
      • Academics
      • Research students
      • Students
      • Honorary graduates
      • Past students
      • Professional Services staff
      • International agents and representatives
      • Senior people
      • Extraordinary women
    • Facilities
      • Campuses
      • Libraries
      • Gym
      • University of London facilities
      • Specialist facilities
    • Work for us
      • Apply
      • Benefits
      • Career development
    • Vision and Strategy
      • Academic excellence
        • Rankings
        • Education
          • Flexible learning spaces
          • Active and collaborative learning
          • Term dates
        • Student statistics
      • Equality, diversity and inclusion
        • Equality, Diversity and Inclusion Strategy
        • Data and objectives
        • Staff networks
        • Digital Accessibility
      • Sustainable development
        • Get involved
        • Environmental Impact and Performance
      • Civic engagement
      • Social responsibility
        • Social responsibility in our outreach
        • Social responsibility in action
    • Governance and legal
      • Charter and Statutes
      • Rector
      • Council
        • Audit and Risk Committee
        • Corporate Governance and Nominations Committee
        • Remuneration Committee
        • Strategy and Finance Committee
        • Development Committee
      • Senate
        • Board of Studies
        • Collaborative Provision Committee
        • Educational Quality Committee
        • Research and Enterprise Committee
        • Senate Research Ethics Committee
      • Executive leadership
      • Financial statements
        • Financial Summary
      • Legal documents and policies
      • Committees
    • Global City
    • Contact us and find us
      • Find us
      • Contact us
      • Staff directory
    • Guidance on Coronavirus
      • Admissions advice during coronavirus
        • Coronavirus accommodation information
      • Latest updates
      • Advice for visitors to our campus
  • Student Hub
  • Staff Hub
  • Prospective students
    Prospective students
    • Courses
      • Undergraduate degrees
      • Apprenticeships
      • Foundation courses
      • Postgraduate taught degrees
      • Postgraduate research degrees
      • Short courses
      • Professional development courses
      • City Health courses
    • Apply
      • Entry requirements
      • How to apply
      • Prospectus
      • Visas
      • Study abroad programmes
      • Clearing
      • Alternative entry routes
      • Contact Admissions
    • Finance
      • Funding options
      • Earn while you learn
      • How to pay
      • Additional expenses
    • Accommodation and housing
      • Compare residential halls
      • Applying for halls
      • Paying for halls
      • Private accommodation
      • Short-term accommodation
    • Open events and fairs
      • Campus tours
      • Online chats
      • University fairs
    • Student life
      • London experience
      • Local area
      • Sports
      • Social activities and groups
      • Religion
      • Lesbian, gay, bisexual, transgender and queer plus
      • Volunteering
      • Student wellbeing
      • Learn another language
    • Career development
      • Placements, internships and employment opportunities
      • Career pathways
      • Job prospects and graduate destinations
      • Careers team
    • Subjects
  • Research
    Research
    • Research centres and groups
    • Research impact
      • Research Excellence Framework
      • Research case studies
    • Research strategy
    • Research support
      • Grants and funding
      • Integrity and ethics
      • Research data
      • Researcher development
      • Presidential Fellowships job advert
    • City Doctoral College
      • Current Doctoral Researchers
      • Doctoral Training Resources
      • Scholarships and Funding
      • For Research Supervisors
      • Meet the Team
  • For businesses
    For businesses
    • Start your business
      • Develop your startup idea
      • Launch your startup
    • Grow your business
      • Fund your business
      • Hire an academic consultant
      • Purchase our intellectual property
      • Companies formed
    • Develop your people
      • Bespoke training
      • My Home Life England
      • Degree apprenticeships for business
    • Business impact case studies
    • Access our student talent
      • Recruit with us
      • Meet and support our students
      • Information for placement partners
  • Alumni and supporters
    Alumni and supporters
    • Alumni benefits
    • Alumni Events
    • Global alumni network
      • Networks and Groups
      • Alumni Ambassadors
      • Special Interest Groups
      • Alumni News and stories
    • Contact us
    • Support City
      • Donate to City
      • Volunteering
      • Your impact
  • News and events
    News and events
    • News
    • Events
    • Social media directory
      • City social accounts
      • School and Departmental accounts
  • About us
    About us
    • Schools and Departments
      • School of Policy & Global Affairs
      • School of Communication & Creativity
      • Bayes Business School
      • School of Health & Psychological Sciences
      • School of Science & Technology
      • The City Law School
      • Dubai Centre
    • History
    • People
      • Academics
      • Research students
      • Students
      • Honorary graduates
      • Past students
      • Professional Services staff
      • International agents and representatives
      • Senior people
      • Extraordinary women
    • Facilities
      • Campuses
      • Libraries
      • Gym
      • University of London facilities
      • Specialist facilities
    • Work for us
      • Apply
      • Benefits
      • Career development
    • Vision and Strategy
      • Academic excellence
      • Equality, diversity and inclusion
      • Sustainable development
      • Civic engagement
      • Social responsibility
    • Governance and legal
      • Charter and Statutes
      • Rector
      • Council
      • Senate
      • Executive leadership
      • Financial statements
      • Legal documents and policies
      • Committees
    • Global City
    • Contact us and find us
      • Find us
      • Contact us
      • Staff directory
    • Guidance on Coronavirus
      • Admissions advice during coronavirus
      • Latest updates
      • Advice for visitors to our campus
  1. Home
  2. …
  3. Career development
  4. Career pathways
  5. How to become an investment banker
Career development
  • Placements, internships and employment opportunities
    • Micro-placements
  • Career pathways
  • Job prospects and graduate destinations
  • Careers team
Male students chatting in a courtyard

How to become an investment banker

At its core, becoming a corporate investment banker means understanding how companies, institutions and governments use money.

Sometimes referred to as corporate finance, investment banking is all about helping companies to grow. Three big ways that an investment banker’s clients use money are lending and borrowing, selling shares (also known as equity) or the whole company and buying or merging with other companies.

An investment banker acts in an advisory capacity, help clients raise money from capital markets in order to expand their businesses. They also have a role in pricing capital, ie. deciding the cost of the money companies need to raise from investors.

What do investment bankers do?

Investment bankers and their peers in project management, venture capital and equity markets, tend to work in one of three big areas.

One of the biggest areas of investment banking is corporate finance. If a company’s board decide the business would prosper by merging with another company, or acquiring it outright, they will need an investment banker to advise them.

Mergers and acquisitions (M&A) can help a company increase its profits, protect its market share or diversify to ensure long-term growth or survival in changing market conditions. Investment bankers play a crucial role in actually managing the whole transaction process, from modelling the outcomes of potential deals to analysing the risks.

Other corporate investment banking specialisms include debt capital and equity capital. The former requires the investment banker to design and restructure a company’s debt obligations in collaboration with lenders, credit rating agencies and other companies. The latter involves raising money for clients by issuing shares and sourcing buyers, either directly or through stock markets.

What can I expect from a career as an investment banker?

Your experience as an investment banker will usually depend on your specialism. Initially that is shaped by whether you become a corporate investment banker or an operational investment banker.

As a corporate investment banker you generate business and perform client-facing duties, while in operations you ensure that business is conducted in an efficient manner, with money transferred as it should.

Corporate investment bankers advise businesses, organisation and governments on achieving financial goals and implementing financial plans over various periods of time.

You will have key duties during a typical two-stage corporate finance deal:

  • Origination - assessing desirability, which can be a creative idea from the bank rather than the client. This requires a deep understanding of a sector and extensive research
  • Execution - negotiating and structuring detailed terms of a deal.

As an operations specialist you are involved in developing new systems that maximise efficiencies and profitability.

You will be responsible for overseeing that transactions are cleared and reconciled in accordance with all regulations and control requirements.

Your operations duties will usually involve:

  • Reconciling systems by monitoring data flow from the revenue-generating front office to the operations systems (operations control)
  • Checking activity and reports of daily transactions
  • Liaising with clients on transaction settlements
  • Troubleshooting system problems.

The working environment may be extremely stressful at times because of high expectations and ambitious targets.

Related courses at City

If investment banking sounds like something you’d like to explore as a career, why not take the next step?

Whatever your level of interest in becoming an investment banker, City's courses can help you take one step closer to a career as an investment banker, develop specialisms that'll set you apart from the field or broaden your horizons with study in related subjects.

  • BSc (Hons) Banking and International Finance
  • BSc (Hons) Mathematics and Finance
  • BSc (Hons) Mathematics with Finance and Economics

Who can I work for as an investment banker?

Investment banking employers come in three distinct flavours. First are the big international investment banks. Names most people with an interest in the industry will have heard of. J.P.Morgan, Morgan Stanley, Goldman Sachs.

Then you have the investment banking divisions of large commercial banks such as Bank of America, Citigroup and Barclays. Finally, the specialist, or boutique, independents. Names such as Allen & Company, Rothschild and Lazard.

The world’s big financial centres are London and New York, plus smaller but no less important cities including Frankfurt, Paris and Tokyo.

In London investment banks are usually divided into three categories. These are international investment banks, investment banking departments of large commercial banks and finally, specialist independent investment banks.

When applying to work for banks you should research their size and reputation. Larger banks can offer larger accounts, but your career progression may be quicker in a smaller organisation. Some are known for their work in debt capital while others might be strong in mergers and acquisitions

You might consider working for other employers offering relevant experience. These include the London Stock Exchange (LSE), The Bank of England, stockbrokers and investment firms.

Becoming an investment banker

This is a graduate career. Competition for jobs is intense, pushing up the minimum entry requirement to a 2.1 degree in a relevant subject. But competition for talent is equally fierce, leading to accelerated career progression for the hard-working and skilful few.

What about work experience as an investment banker?

One thing that is virtually essential is industry experience. Many employers in the sector offer summer internships, exposing interested students to the realities – and the rigours – of life as an investment banker.

Work experience employers in the sector would consider relevant includes investment banks themselves, but also the Financial Conduct Authority (FAC, the London Stock Exchange (LSE), The Bank of England plus stockbrokers and venture capital firms.

Candidates will be expected to develop in-depth knowledge of all the issues that could affect the success of their clients’ deals. Everything from baking and tax regulations to market knowledge.

The further up the investment banking hierarchy you progress, the more non-financial skills such as leadership, communications skills and negotiation ability become important.

Any experience you can gain working in an investment bank will be useful. It reflects your commitment to the profession, gives you an insight into the world and can help you start to build a network of contacts.

What are my prospects as an investment banker?

You are likely to spend your first two to three years in an analyst role before progressing to associate level. Associates usually manage a team of analysts.

With three more years’ experience you may progress to vice president (VP) level, managing the work of both associates and analysts. Beyond this are director, executive director and managing director roles, but such promotion is difficult.

Your high performance can lead to good bonuses, internal recognition and potentially being headhunted, which is common in the sector. Individuals or whole teams can be poached by other banks.

Alternative career tracks might include senior management positions in industry, commerce or government.

Useful links

  • Economics at City, University of London

Help us to improve this page

City, University of London

The University of business, practice and the professions

  • Library Services
  • Moodle
  • Email
  • Staff directory
  • Term dates
  • Book a room
  • Schools and departments

Back to top

Contact us

Make an enquiry

  • Twitter
  • Facebook
  • Instagram
  • LinkedIn
  • YouTube
  • TikTok
  • Weibo
  • Youku
  • WeChat
Social media directory

Find us

City, University of London
Northampton Square
London EC1V 0HB
United Kingdom

Campus map

Our global campuses

  • London
  • Dubai

Awards and accreditations

  • Athena SWAN: Bronze Award
  • Stonewall: LGBTQ+ Inclusive employer - Silver Award 2023 logo
  • UKRI Research England logo

Useful links

  • Accessibility
  • Privacy policy
  • Cookies
  • City Store
  • Support City
  • Work for City
  • City Magazine
  • 中文

© 2023 City, University of London

University of London