Question: Do investment banking professionals normally work in-house or as a consultant?
Answer: The vast majority of investment bankers work in-house for investment banking firms; the firms may range in size from a handful of people to many thousands of employees. It might be possible for an experienced banker to eventually work on his/her own as a consultant while still calling him/herself an “investment banker.” This might be the case for a top-notch banker with an impressive track record of transactions and a large array of relevant contacts. Such a professional could possibly create a small consulting practice focused on advisory work such as mergers & acquisitions advice, strategic alternatives advice or simply making introductions within an industry.
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