Becoming a corporate investment banker | Salary, skills, requirements

Your role in corporate banking will be to help business clients achieve their financial goals and implement long and short-term financial plans. You'll manage corporate, strategic and financial opportunities, including:

acquisitions
bonds and shares
initial public offerings (IPO)
lending
mergers
privatisations.

You may also advise on and lead management buyouts, help organisations raise capital, provide strategic business advice and identify and secure new investment opportunities.

You'll work in dedicated teams, focusing on specific transactions or market sectors. Corporate investment bankers also work alongside other related professionals, such as lawyers and accountants.

Types of corporate investment banker

Many investment banks deal in three main areas:

corporate finance - involves providing specialist financial advice on areas such as mergers and acquisitions, business expansion, improving profitability, protecting market position and diversification. You could manage the transaction process, assess target organisations and evaluate the impact of a deal. This requires knowledge of legal and regulatory issues, alongside strong financial skills and a detailed understanding of the client's industry.
debt capital markets - involves working with lenders such as financial institutions, government agencies, and public and private companies to design, issue and restructure debt arrangements, such as bonds and loans.
equity capital markets - involves advising clients on how much capital to raise, when to raise it and the most suitable sources of funding. This is done through research and analysis of financial markets, investors and products.

Working as a corporate investment banker

As a corporate investment banker, you'll need to:

assess whether a deal is financially viable and commercially attractive, using financial models to predict possible outcomes and risks
structure and negotiate the detailed terms of deals, often working closely with other professional advisers
liaise with project teams to gather specialist information and market intelligence relevant to a transaction
research market trends, economic conditions and industry developments
identify and develop new business opportunities and client relationships
carry out financial modelling and develop tailored financial solutions for clients
analyse complex numerical data and explain findings and recommendations clearly to clients
work with senior leaders, including chief executives (CEOs) and chief finance officers (CFOs), in large organisations
coordinate teams of professionals, including accountants, lawyers and public relations (PR) consultants, and work closely with them throughout transactions.

Corporate investment banker salary

Typical starting salaries for corporate investment bankers range from £40,000 to £70,000, particularly in large banks and London-based firms. Salaries may be lower in smaller firms or outside London.
With around three to five years' experience, salaries can rise to between £70,000 and £120,000.
Senior corporate investment bankers and directors may earn base salaries of £150,000 or more, depending on the size of the bank and their level of responsibility.

Performance-related bonuses are a standard part of the pay package and can significantly increase overall earnings. In some cases, bonuses may match or exceed the base salary.

Most employers offer additional benefits, such as private healthcare, pension contributions, life assurance, subsidised meals, gym memberships and other financial incentives.

Income figures are intended as a guide only.

How many hours do investment bankers work?

Working hours in corporate investment banking are typically long and can be demanding, especially when working on major deals or projects. You may regularly work between 50 and 80 hours a week, with additional evening or weekend work sometimes required during busy periods.

Hours are often longest at junior level, where analysts and associates may work very intensively to meet deadlines and support live transactions. Work-life balance may improve with seniority, although senior staff can still face long hours and high levels of responsibility.

How do I become a corporate investment banker?

Corporate investment banking is a competitive career, and employers usually look for at least a 2:1 degree, strong academic results and evidence of commercial awareness, analytical ability and teamwork skills.

Graduates from all disciplines are considered but degrees that may be particularly useful include:

accounting and finance
business management
economics
international business
mathematics
physics
statistics.

Many investment banks operate globally, so foreign language skills and international experience may also be beneficial.

Postgraduate qualifications are not essential, but a relevant Masters degree or a Master of Business Administration (MBA) may help you develop specialist knowledge and stand out in a competitive job market. However, further study does not guarantee entry into the profession, so it's important to research your options carefully.

What skills does a corporate investment banker need?

The following skills are important for this role:

strong numerical, analytical and financial modelling skills
excellent communication and interpersonal skills, with the ability to build relationships with clients and colleagues
teamwork and collaboration skills, as investment banking projects are usually carried out in teams
commercial awareness and an understanding of financial markets, business trends and the wider economy
problem-solving and decision-making skills, with the ability to analyse complex information quickly
good organisation, project management and time management skills, with the ability to manage competing deadlines
resilience and the ability to work well under pressure in a fast-paced and demanding environment.

Investment banking work experience

Gaining work experience in the industry is highly important, as competition for graduate roles is strong. Many investment banks offer summer internships, which typically last between six and 12 weeks. You should aim to secure an internship during the penultimate year of your degree, so it's important to apply early as recruitment often opens many months in advance. You may need to make several applications before being successful.

Summer internship programmes are usually offered at analyst level for undergraduate students and at associate level for postgraduate students, such as those studying for an MBA. In some cases, completing an internship successfully can lead to an offer of full-time graduate employment.

Some firms also offer spring insight programmes, first-year internships and insight days, which provide an introduction to investment banking and help you build commercial awareness and industry contacts early in your degree.

Experience gained in finance, banking, professional services or other business-related environments can be useful, as it demonstrates an interest in the industry and helps you develop relevant commercial and professional skills.

Part-time work, volunteering, positions of responsibility, involvement in student societies or holiday work can also strengthen your applications, particularly if they show teamwork, leadership, communication and analytical skills.

Find out more about the different kinds of work experience and internships that are available.

Who are the main employers of corporate investment bankers?

Corporate investment bankers are mainly employed by investment banks, commercial banks and financial services firms. In the UK, most opportunities are based in London, although some roles are available in other major financial centres. International opportunities are commonly found in cities such as New York, Frankfurt, Paris, Hong Kong and Singapore.

The main types of investment banking employers include:

global investment banks - such as Goldman Sachs, J.P. Morgan and Morgan Stanley, which advise large multinational companies and governments on major financial transactions
investment banking divisions of commercial banks - such as Barclays, HSBC, Deutsche Bank, Citi and UBS, which provide a range of corporate and investment banking services
specialist and independent investment banks - such as Lazard, Rothschild & Co, Evercore and Jefferies, which often focus on areas such as mergers and acquisitions (M&A), restructuring or advisory services.

Other employers include:

regulatory organisations such as the Financial Conduct Authority (FCA)
the Bank of England
the London Stock Exchange (LSE)
stockbroking firms
private equity and venture capital firms
investment and asset management companies.

Look for job vacancies at:

Specialist recruitment agencies that deal with investment banking opportunities include Oaklands Global.

Many investment banks recruit through careers fairs, networking events, presentations and insight programmes on university campuses. Employers also value commercial awareness and knowledge of the business.

The recruitment process is competitive and typically includes:

an online application form
aptitude tests
video interviews
assessment centres
final interviews.

Competition for roles is strong, so preparation and research are essential. Many employers recruit through internships and insight programmes, which can lead to graduate job offers. Some banks also accept applications from international students and may offer visa sponsorship for graduate roles.

Many investment banks are also working to improve diversity and inclusion through employee networks, mentoring schemes, internships and early-careers programmes for under-represented groups.

Professional development and career prospects

As a graduate trainee, you'll usually complete an intensive training programme covering areas such as accounting, capital markets, corporate finance, economics and financial modelling. Training is typically delivered through in-house courses, seminars, online learning and on-the-job experience with senior colleagues.

Some employers may support further professional study and continuing professional development (CPD). Relevant qualifications and training providers include the Chartered Institute for Securities & Investment (CISI), CFA Society UK, LIBF and the Association of Corporate Treasurers (ACT). With significant experience, you may also study for advanced qualifications such as the Corporate Finance (CF) Qualification offered by the Institute of Chartered Accountants in England and Wales (ICAEW).

Most graduates begin in analyst roles before progressing to associate, vice president (VP), director and managing director positions. Career progression is competitive and depends on strong analytical, commercial, leadership and client management skills.

Experienced investment bankers may move into areas such as private equity, venture capital, asset management, consultancy or senior corporate leadership roles. Many investment banks also offer opportunities to work internationally.