Skip to content
Road MatesRoad Mates Enter

Investment Banker Roadmap

How to become an Investment Banker, phase by phase: what you do in each one, how long it takes, and the proof that shows you're done.

7 phases10–16.5 years18 resources

Join this road — free →Prefer Road Mates on Google

The road, phase by phase

  1. Phase 1: Learning Finance and Valuation

    3–6 months

    Studying accounting, the three financial statements, DCF, comparables and LBO basics through coursework and self-study while keeping grades high. By the end you can build a simple three-statement model and valuation from scratch.

    You're done when you can show

    A self-built DCF and three-statement model file for a real public company.

    Resources

  2. Phase 2: Networking Into Banking Firms

    3–6 months

    Reaching out to bankers and alumni, holding informational calls, joining finance clubs, and polishing a one-page banking-format resume. You produce a pipeline of contacts who can refer you at target banks.

    You're done when you can show

    A tracker spreadsheet showing 50+ banker conversations and at least several referrals.

    Resources

  3. Phase 3: Recruiting for Internship Offers

    2–4 months

    Drilling technical and behavioral interview questions, practicing your story, and going through applications, superdays and modeling tests. Recruiting timelines vary by country and can start a year or more ahead of the role, so this may overlap with networking. You end with a summer analyst or off-cycle internship offer at a bank or boutique.

    You're done when you can show

    A signed internship offer letter from an investment bank or advisory boutique.

    Resources

  5. Phase 5: Producing Analyst Deal Materials

    2–3 years

    Working full-time as an analyst, building models, drafting pitch books and CIMs, running data rooms and managing diligence on live M&A or financing transactions. By the end you have closed multiple deals and can run model and materials work end to end.

    You're done when you can show

    A list of closed transactions you staffed, with public deal announcements.

    Resources

  6. Phase 6: Managing Deals and Junior Teams

    3–4 years

    Shifting from building materials to reviewing analyst work, coordinating with clients, lawyers and counterparties, and running day-to-day deal execution as an associate. You prove you can lead a transaction process with limited senior oversight.

    You're done when you can show

    A promotion letter to associate or VP citing deals you led.

    Resources

  7. Phase 7: Originating Client Mandates

    4–8 years

    Spending most time building client relationships, pitching ideas to executives, and winning advisory mandates as a VP, director and eventually managing director. Success is measured by the fees and deals you bring in.

    You're done when you can show

    A signed engagement letter for a mandate you originated.

    Resources

Similar roads

Walk this road with people on it.

Track each phase, post your proofs, and get matched with people in the same phase.

Join this road — free →