The hierarchy of investment banking titles typically follows a similar structure across most firms, although the specific titles and responsibilities may vary slightly. Here is a typical hierarchy from lowest to highest:
1. Analyst: This is the entry-level position for investment banking. Analysts are responsible for conducting financial analysis, building financial models, preparing presentations, and assisting with due diligence. Investment banking interns are known as Summer Analysts.
2. Associate: Associates have a few years of experience and are responsible for managing the work of the analyst team, performing financial analysis, and assisting with deal execution.
3. Vice President (VP): VPs typically have several years of experience and are responsible for managing deal teams, building client relationships, and playing a key role in the execution of transactions.
4. Director / Executive Director: Directors or Executive Directors are senior-level professionals who are responsible for managing and overseeing multiple deal teams, leading business development efforts, and providing guidance to more junior team members.
5. Managing Director (MD): Managing Directors are typically the highest-ranking professionals in investment banking. They are responsible for managing the overall business of the investment banking division, including client relationships, deal execution, and strategic planning.