Career Path

Career Path: Analyst


The lowest position of all, and what graduates become when they join. In investment banking speak, \"analyst\" is simply another way of saying ‘trainee.’

What analysts do varies from division to division. In corporate finance, analysts are hardworking number crunchers who put together “pitchbooks” (company and sector research that helps banks win bids), and analyse a company’s financials. In sales, analysts telephone relatively unimportant clients on non-crucial matters. On the trading floor, analysts can’t trade until they’ve passed their regulatory exams and, even then, are heavily constrained until they’ve proven they’re not going to press the wrong button and lose a small fortune.

At most banks you’ll be an analyst for three years. The bank then decides whether or not to renew your contract, and you, in theory at least, can also decide whether to stay on.

Analyst, fixed income
BlackRock

"Being at the very centre of markets and actively participating in the investment process is definitely the most appealing part of this job."
Corporate banking analyst
HSBC

"Every day you will be dealing with people of all levels internally within the bank network and building relationships with customers externally."
Analyst, operations
Goldman Sachs

"It is exciting, because you are working closely with traders and they are relying on you. You have to manage a high degree of risk, and it can be challenging."
Business analyst, equity derivatives IT
Credit Suisse

"Working in a front-office IT team is very exciting, as you are always faced with a dynamic, fast-paced environment where there is plenty of variety on a daily basis."
Graduate analyst, M&A advisory
Barclays Capital

"I get to meet clients – pitching a new deal is the adrenalinfuelled thrill an investment banker lives for!"
Financial analyst
M&G Investments

"Spreadsheets will figure in a large proportion of your workload – if you don't like Excel, this job probably isn't for you."
Associate
Dresdner Kleinwort Wasserstein

"If you work in risk, you need to be resilient, persuasive, and able to stand your own ground when a deal can’t go ahead"
Associate, Sales
Credit Suisse

"Study hard and get the grades! Graduates across the continent (if not the world) are all competing for the same jobs and it’s difficult to get interviews if the grades aren’t reasonably good."
Relationship manager
BNP Paribas

"I'm proactive, which is essential in this job. It's ultimately up to you to identify new opportunities for clients, which involves constantly keeping up-to-date with changes in the markets to see what they might need down the line. "
Associate, Emerging Markets Currency Group
HSBC

"Don’t just go somewhere for the location – look at where you can get the best experience and opportunities in the area of financial markets that most interests you"
Associate, Global Capital Markets
Morgan Stanley

"Keep a keen interest in current affairs – capital markets bankers need to be very close to the financial markets"
Account developer
Allianz

"There is a variety of roles in the insurance industry. Find a scheme that gives you the chance to experience and consider them all."
Portfolio manager and senior analyst
3A S.A.

"The final decision is only based on the analyst’s judgment, and never on quantitative analysis. "
Director and Global Products Manager
Martin Currie

"You need to be prepared to sell even when you've lost money"
Co-head of Structuring for Asia ex-Japan
Goldman Sachs

"For FI roles the spectrum of qualifications applicable is very broad – we hire people studying subjects from Classics to Physics"
Head of family business and philanthropy
Coutts & Co

"Think about whether you prefer managing clients, designing products or dealing with systems. If you want to be good at your job, it is important you enjoy it."
Global Head of Compliance
Barclays Capital

"These days compliance is much more centered around reputation management and the rights and wrongs of particular transactions"
Investment director, Growth Capital
3i

"Make sure your accounting knowledge is solid. While understanding the business models and different markets is important, getting under the numbers and creating the appropriate financial structure is critical"
Managing Director
Credit Suisse First Boston

"I’d heard horror stories about trading floors on Wall Street. People said they were male-dominated, cliquish and hard to get into, but I was pleasantly surprised"
Investment manager
Baillie Gifford

"Have an inquisitive mind. You need to have a genuine interest in the markets and the strategies of companies."
Director
Dunedin

"Don't assume you know it all – you'll rely on existing teams for their experience and market knowledge."
Manager, Charities and Local Government
Royal Bank of Scotland

"The best thing is seeing people’s businesses succeed and feeling you’ve contributed to making it happen over a period of time"
Vice President, M&A
Deutsche Bank

"You need to be able to laugh at the irony of the photocopier breaking down at 3am!"
Member of the Structured Investor Solutions Team
Royal Bank of Scotland

"Moving into the front office is much easier to do internally than by moving into another bank"
Associate director
Standard & Poor's

"Language skills are highly valued – an analyst working in the London office can cover companies headquartered in Europe and the Middle East, for example.
Investment manager
Candover

"There are great jobs in private equity, but you need to know what you're applying for and what differentiates the funds."

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