The Investment Banking Career Path

注：孩子本科和研究生阶段都申请过BB的quant internship, 收入方面后者比前者多45%左右，没有文中的65%-100%那么大。BB给实习生的stipend大致是相应学位full time的base salary(prorated).

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The Investment Banking Career Path

The investment banking career path and corporate hierarchy is well-defined and hasn’t changed much over time:

• Intern or Summer Intern – Assistant to the Monkeys
• Analyst – Monkey
• Associate – Better-Trained Monkey
• Vice President (VP) – Manager of the Monkeys
• Director or Senior VP (SVP) – Manager and Rainmaker-in-Training
• Managing Director (MD) – Rainmaker

There are some variations and slightly different titles, but this is the basic investment banking career path.

We’ll look at each level in detail below (see the investment banking internship guide for more on the Intern or Summer Intern level).

For now, here’s a summary of what to expect at each level:

Position Title	Typical Age Range	Base Salary (USD)	Total Compensation (USD)	Timeframe for Promotion
Analyst	22-27	$85-$95K	$150-$200K	2-3 years
Associate	25-35	$140-$180K	$250-$400K	3-4 years
Vice President (VP)	28-40	$200-$300K	$450-$700K	3-4 years
Director / Senior Vice President (SVP) / Principal	32-45	$250-$350K	$500-$1,000K	2-3 years
Managing Director (MD)	35-50	$400-$600K	$1,000K+	N/A

NOTE: The descriptions, salaries, and bonuses below refer to front-office roles in investment banking, not to the back or middle office, which are supporting functions.

Also, the compensation figures are based on pay in the U.S., and specifically at large banks in New York. Pay will be lower, sometimes significantly lower, in other regions – yes, even in London – and at smaller banks. For more, please see our coverage of investment banker salaries.