Are investment banking professionals independent workers, or do they work in teams?
Answer: As a general rule, investment bankers do indeed work in teams. An exception might be a small (even one person) advisory business that simply makes industry introductions, but the vast majority of investment banking work is produced in a team environment. As an example, a straightforward sell-side M&A assignment might include a deal team of 4 or so bankers including an analyst, associate, vice president and a managing director. Larger deals can include even bigger teams with specialist brought into the mix (M&A specialists, financial sponsor bankers, and even capital markets team members if an equity or debt financing is needed).
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