Investment banks assist public and private corporations and governments in raising funds in the
capital markets (both equity and debt), as well as in providing strategic advisory services for
mergers, acquisitions and other types of financial transactions. They also act as intermediaries
in trading for clients.
Investment banks differ from commercial banks, which take deposits and make commercial and
retail loans. In recent years, however, the lines between the two types of structures have
blurred, especially as commercial banks have offered more investment banking services.
Investment banks may also differ from brokerages, which in general assist in the purchase and
sale of stocks, bonds, and mutual funds. However some firms operate as both brokerages and
investment banks; this includes some of the best known financial services firms in the world.
– strong in accounting and finance to value companies, understand the markets
– be able to perform at your highest levels with minimal or no sleep; thrive in
stressful environments; learn from mistakes and don’t make them twice
– build and maintain relationships with clients, within the firm, with other firms
Banc of America
– 9am to 12am, often later, usually weekends; $100,000 - $250,000
– 9am to 11pm, often later, often weekends; $200,000 - $400,000
– 9am to 8pm, sometimes later, sometimes weekends; lots of money
– 9am to 7pm, sometimes later, rarely weekends except traveling; too much
Can build a career as a banker, go to various divisions within the bank, jump to private equity,
hedge fund, mutual fund, research firm or retire early.