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.
IS implementation
M&G
"Think about the role you want – it's such a vast arena and there are so many paths – support, development, testing and project management are just a few."
Analyst
Bank of America
"Research extremely carefully so you can talk intelligently about which bank you want to join "
Analyst
JP Morgan
"You need to accept that everyone makes mistakes at the beginning and that you’re alright as long as you don’t make a habit of it"
Analyst
Bank of America
"Unless you already know which area of a bank you want to go into, look for something that will give you the flexibility to move around and see what’s out there"
Analyst
Merrill Lynch
"Try to become part of the furniture of the team. If it gets to the point where you are missed when you are not there, you're doing well."
Software developer
Barclays Capital
"Find out where your job would sit – that helps you match your own skills to the job's requirements and demonstrates good preparation"
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