But, what exactly does an investment banker’s typical day at work look like?
We reached out to Loestro, a boutique investment banking and advisory firm, to deep dive and find the answer.Their work involves dealing with clients for fundraising, mergers and acquisitions, and on consulting engagements across industries such as education, technology, consumer and healthcare. This translates into work across the deal-spectrum, from initiating conversations with founders to eventually closing the deal. In some cases, they also work on post-merger integrations.
Here are some insights from the experts at Loestro:
You might expect to wake up to morning texts on fundraising news, M&A news and even news of market crashes.
Once you hit the office, the team gathers for a morning meeting. Here, individual projects are updated and doubts are discussed.The day goes by with multiple work streams operating in parallel, with some context switching. Here are some examples of this:10.00 a.m.: The phone rings and it is a client interested in investing in an online tutoring platform. You would have to ensure that you cover all aspects of the prospective deal and get a project report ready before the deadline.
11.00 a.m.: You might have to be ready to tackle the financial model for an existing client deal.
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12.00 PM: A potential deal in the healthcare sector is on the horizon, and you might have to quickly prepare a pitch deck outlining the opportunity and the possibilities.
As the day progresses, you would have to take business development calls, conduct due diligence work, work on PowerPoint presentations, finalise financial models, write articles, reach out to potential investors and even research on building new initiatives and verticals.
The team gets together at 6:00 pm for a round-up meeting to catch up on various aspects of work and to clear doubts.
If your work for the day is done, you might get to head home. Sometimes, you would have to put in extra hours, or meet a client over a dinner meeting.
For people looking at early stage investment banking roles, the team has some guidance on the skills needed and work needed to be done:
Apart from strong financial knowledge and analysis skills, candidates also need to be strong critical thinkers, effective communicators and problem solvers.
If that sounds like the kind of work day that excites you, maybe the investment banking doors might be ones you might need to knock on.