Verbally, it sounds cool to be called an Investment Banker. Fat cheques, luxurious apartment, expensive car and many other perks make it a lucrative job, but very few people ask what an investment banker goes through to earn these bounties. Prima facie, it seems like a job equivalent to an accountant or a financial analyst, but this position demands much more than a 9 to 5 job. In the role of an investment banker, a person requires excellent social skills to manage clients, prepare offers and to work in erratic hours. If you are unaware of the hardships of an investment banker, then your assessment is still unbaked. So in this article, we are giving you a window into the life of an investment banker.
After adapting themselves to the chaotic demands of this job, the mornings of an investment banker start with checking emails and setting targets for the day. Meanwhile, an investment banker is supposed to reply every message from their senior bankers and colleague regarding status reports, presentations and other calculations. Though you don’t have a morning deadline in this job, it is just a silence before the tornado hits the shore.
The works usually go smoother till afternoon, but as the day progresses, the higher ups start giving tasks like preparing pitch books, working on deal models, etc. By the evening when all the seniors leave the office, an investment banker starts setting his target to get some sleep during the night. They spend sleepless nights and does the excess amount of work that has to be completed before the Managing Director evaluate the work next day. Nobody asks about an investment banker’s skill on MS Excel and PowerPoint; it is expected from a banker to have an excellent command over these skills to streamline the given task.
By evening, investment bankers receive feedback on the last day report and start working on the corrections. Meanwhile, they get teamed up with the Desk Top Publishing staff for preparing marketing materials. This team also includes equity research staff and sales staff. They forward their inputs for the revision of pitch book, and together they prepare a new pitch book. But the job is not done yet; the investment banker has to proofread the whole book to avoid any grammatical and factual errors. The number of pages in these pitch books often goes beyond 100.
The whole process works in a cycle that starts from revision followed by the comment and ends up at the correction. This task requires specific skills and precision to complete work on time. Nobody tolerates the mistakes on a pitch book, especially the higher ups in the company. The nights are lonely and stressful for the Investment bankers as the review process sucks even an iota of energy from their body.
The work finishes around 3 am in the night, and the banker finally leaves the office. Finally, an investment banker crashes on the bed just to start another erratic day with reviews of the senior colleagues.