Investment Banking & Private Markets

Investment Banking Analyst (M&A)

BriefYour role

Also known as Corporate investment banker · Mergers and acquisitions analyst · Acquisition manager · Acquisitions analyst

and 8 more

Corporate banker · Corporate investment adviser · Corporate investment strategist · Investment banker · Investment banking analyst · Investment banking associate · M&A analyst · M&a banker

L3 salary: Not published yetSalary figures open with the salaries section.
Upcoming dated changes: 1 change aheadNext: 5 Dec 2026
Where the changes come from
Each change in the Regulatory calendar comes from an official text, linked on its page.
A change affects this role directly when it names a process that is one of the role's main tasks.
Top critical skills: Company valuation (DCF, multiples)
Three-statement financial modelling
Financial statement analysis and ratios

What the role does

Investment Banking Analyst (M&A) is a role in Investment Banking & Private Markets. The family covers M&A, capital markets, leveraged finance, private equity and venture capital. The core skill is company valuation (DCF, multiples), and the main work is corporate finance and deals.

This is a brief profile written from the catalogue. A full profile with a day in the life, level descriptions and the effect of AI is being written.

Levels

L1 Starting out 0-2 years
L2 Independent 2-5 years
L3 Senior or specialist 5-9 years
L4 Leads a team or an area 8-14 years
L5 Leads the function 12+ years

Full level descriptions and job titles

The EFO level names are the common scale; job titles differ between employers.

Levels of Investment Banking Analyst (M&A)
Level	What the work looks like	Typical years	Typical job titles
L1 Starting out	Learns the job; executes defined tasks with supervision	0-2	Banks: Analyst, Junior Analyst, Associate (asset servicing), Trainee, GraduateAsset servicers: Junior, Specialist (entry), Officer
L2 Independent	Owns a process end to end; trains L1; first contact for the team's clients	2-5	Banks: Analyst / Senior Analyst, AssociateAsset servicers: Specialist, Senior Specialist, Senior Officer
L3 Senior or specialist	Deep expertise; handles exceptions and change; represents the function in projects	5-9	Banks: Senior Associate, AVP, Assistant ManagerAsset servicers: Senior Specialist, Expert, Team Lead (small team)
L4 Leads a team or an area	Manages people or a large process; owns budgets or controls; escalation point	8-14	Banks: VP, Manager, Senior ManagerAsset servicers: Team Lead, Manager, Head of Section
L5 Leads the function	Accountable for the function in a legal entity or region; sets priorities and standards	12+	Banks: Director, Executive Director, Managing Director, Head of functionAsset servicers: Head of Department, Director

Specialisations

Specialisations share most of the role and differ in the skills listed here.

Energy & Infrastructure Coverage Analyst

Also known as Oil and gas investment banking analyst

Critical skills: Company valuation (DCF, multiples), Three-statement financial modelling, Financial statement analysis and ratios

Matches your search

Healthcare Coverage Analyst

Critical skills: Company valuation (DCF, multiples), Three-statement financial modelling, Financial statement analysis and ratios

Matches your search

Industrials Coverage Analyst

Critical skills: Company valuation (DCF, multiples), Three-statement financial modelling, Financial statement analysis and ratios

Matches your search

Sponsors Coverage Analyst

Critical skills: Company valuation (DCF, multiples), Three-statement financial modelling, Financial statement analysis and ratios

Matches your search

TMT Coverage Analyst

Critical skills: Company valuation (DCF, multiples), Three-statement financial modelling, Financial statement analysis and ratios

Matches your search

Skills

The percentage is the skill's share of the role; the bars are drawn relative to the anchor skill, which is shown full.

Critical 5

The job cannot be done without these.

Company valuation (DCF, multiples)Weight 13.3%Anchor skillExpected level: expertRelevant to you
Three-statement financial modellingWeight 8.9%Expected level: expertRelevant to you
Financial statement analysis and ratiosWeight 8.9%Expected level: expertRelevant to you
Advanced Microsoft ExcelWeight 8.9%Expected level: expertRelevant to you
Financial markets knowledgeWeight 8.9%Expected level: expertRelevant to you

Important and supporting skills 17

Important 8

Needed in most positions.

Building a slide narrativeWeight 4.4%Expected level: practitionerRelevant to you
Microsoft PowerPointWeight 4.4%Expected level: practitionerRelevant to you
Financial due diligenceWeight 4.4%Expected level: practitionerRelevant to you
Working to tight deadlinesWeight 4.4%Expected level: practitionerRelevant to you
Attention to detailWeight 4.4%Expected level: practitionerRelevant to you
Commercial acumen and business senseWeight 4.4%Expected level: practitionerRelevant to you
Professional written communicationWeight 4.4%Expected level: practitionerRelevant to you
Resilience under pressureWeight 4.4%Expected level: practitionerRelevant to you

Supporting 6

Help in many positions.

International accounting standards (IFRS)Weight 2.2%Expected level: practitionerRelevant to you
Bloomberg Terminal / market dataWeight 2.2%Expected level: practitionerRelevant to you
Derivatives and how they workWeight 2.2%Expected level: practitionerRelevant to you
Collaboration and teamworkWeight 2.2%Expected level: practitionerRelevant to you
Assessing the quality of sourcesWeight 2.2%Expected level: practitionerRelevant to you
Competitive analysis and benchmarkingWeight 2.2%Expected level: practitionerRelevant to you

Useful 3

Occasionally useful.

Corporate governanceWeight 0.7%Expected level: working knowledgeRelevant to you
Querying data with SQLWeight 0.7%Expected level: working knowledgeRelevant to you
Integrity and discretionWeight 0.7%Expected level: working knowledgeRelevant to you

Processes

The work the role takes part in.

Corporate finance and deals

What each process covers

Corporate finance and dealsMainM&A, capital markets, valuation and due diligence.

Dated changes for this role

5 Dec 2026Listing Act: multiple-vote share structures for SME growth marketsRelevant to you

See all 1 in the Regulatory calendar

Salary snapshot

Salary figures are not published yet

The L3 salary range for this role, with its sources, will appear here when the salaries section opens.

Certifications

CFA Program Level I CFA Institute
CFA Program Level II CFA Institute

Concepts to know

Neighbouring roles

Roles that need many of the same skills, by weighted skill overlap, with the skills you would need to add.

FIG Coverage Analyst

92% skill overlap

To add: Basel framework and capital

Your role

Leveraged Finance Analyst

73% skill overlap

To add: Credit analysis and creditworthiness, Contract drafting and negotiation

Your role

Equity Research Associate

72% skill overlap

Your role

Equity Capital Markets Analyst

71% skill overlap

To add: Conduct and investor protection rules (MiFID II, FINRA, SEBI), Reading client needs and dynamics

Your role

Private Credit Analyst

70% skill overlap

To add: Credit analysis and creditworthiness, Contract drafting and negotiation

Your role

ESG Research Analyst

70% skill overlap

To add: ESG frameworks and rating criteria

Your role

Do this job? Suggest a correction

Sources

The EFO role catalogue, with skills, levels and processes. How it is built
ESCO classification of the European Commission (external site) for job titles