IBanking has one of the most rewarding jobs in the banking and finance industry. The sector demands a lot of careful planning and hours but at the end of the day, the pay packet is pretty hefty with the added bonus and other benefits that make it most attractive. iBanking has a well laid out structure that comprises of analysts, associates, and senior managers. The salary of an iBanking associate is pretty good when compared to equivalent mid-managerial post.
Investment banks are involved with the raising of capital for its clients that includes companies, institutions, and even governments. It gives advisory services with respect to Mergers & Acquisitions, Initial Public Offerings, Underwriting of stocks, bonds, etc. An iBanking associate is typically an MBA who has had a minimum of 3-4 years of experience as an analyst in an investment bank. His job includes managing the analysts under him and communicates the wishes of the VP’s above him.
An iBanking associate could have been an analyst who has been promoted or directly from a business school. He puts in a minimum of 80-100 hours a week. His role is similar to that of an analyst with the added responsibility of being a link between the analysts and the higher-ups. It is also not uncommon for them to work directly with clients.
An iBanking associate works on the presentations, M&A deals, prepare financial models, they also allocate new tasks and needs to be particular about time management as that is one thing that he is always short on. A typical salary of an iBanking associate ranges from $75,000 to $250,000 in a year. Associates make more money if they are working for a larger investment firm, generally a ‘Bulge- bracket’ firm.
Position Base Salary Bonus Range Total Compensation
1st Year Associate $110K-$125K $60K-$135K $170K-$260K
2nd Year Associate$120K-$135K $80K-$160K $200K-$295K
3rd Year Associate $130K-$160K $90K-190K $220K-$350K
In India, the salary of an iBanking associate is approximately Rs 720,194 Avg. Salary, Rs 100,322 as a bonus and Rs 7,000 as profit sharing. (The bonus is based on individual performance and the bank’s performance.)
The salary of an iBanking associate might be huge but so are the working hours and the toil which can be gruesome at times.