The pathway
How you actually get there, here
How you become one varies far more by country than what one does. This is the UK route. Most people take one of these ways in; the right one depends on where you're starting from.
- 1
Investor Relations Associate (L2)
2-3 yearsSkills to master
- Flawless execution of routine IR processes, strong data accuracy, effective note-taking, initial Q&A drafting, and basic investor targeting.
You're ready to move on when
- Consistently delivers high-quality work without significant errors.
- Independently manages NDR logistics and drafts initial Q&A with minimal supervision.
- Proactively identifies and proposes solutions for process improvements.
- Demonstrates strong understanding of Reg FD in daily tasks.
- 2
Equity Research Associate (Sell-side)
3-5 yearsSkills to master
- Deep financial modelling, sector analysis, understanding of investor decision-making, and strong written communication for research reports.
You're ready to move on when
- Published several detailed research reports on companies within a sector.
- Built and maintained complex financial models for covered companies.
- Developed relationships with buy-side analysts and portfolio managers.
- Can articulate investment theses clearly and concisely.
- 3
Investment Banking Analyst (M&A/ECM)
3-4 yearsSkills to master
- Advanced financial modelling, valuation techniques, transaction execution, and client presentation skills.
You're ready to move on when
- Executed multiple M&A or capital markets transactions.
- Mastered complex valuation methodologies (DCF, comps, precedents).
- Prepared detailed client presentations and pitch books.
- Demonstrates strong work ethic and attention to detail under pressure.