Entering the world of investment banking is a demanding yet rewarding experience, full of challenges and opportunities for growth. To better understand what that journey actually looks like, I spoke with Jaime Tejero, a first-year analyst at Evercore.
Jaime shared insights into the steep learning curve, wide-ranging responsibilities, and key lessons from his first year. He also offered practical advice for those hoping to break into the industry.
Q: Can you tell me about your role and the teams you work with?
I’m a first-year analyst at Evercore, working with the Debt Advisory team. Before this, I spent nine months in my first rotation with the Financial Institutions Group (FIG).
Both teams are part of the firm’s Strategic Advisory division, which provides independent advice to clients on mergers, acquisitions, and other major financial decisions.
Q: How did you break into investment banking, and was it always your goal?
It wasn’t a single moment but a series of steps. I grew up in Spain and had the opportunity to attend a UK boarding school for two years before returning to Spain to complete my A-Levels in maths, further maths, physics, and Spanish. I then moved back to the UK to study mechanical engineering and business finance at UCL, where I graduated with First Class Honors and received the Dean’s List award from the engineering faculty.
From early on, I knew I wanted to go into investment banking, partly because my parents had experience in the industry. During university, I debated between finance and engineering, but after completing internships in both — one at Key Capital Partners in Madrid and another at Besix Group in Belgium — I found that banking was the right fit for me.
My path to banking started with a spring week at Evercore, followed by a summer internship in real estate, which eventually led to my current full-time analyst role.
Q: What’s been the most memorable project you’ve worked on so far?
During my summer internship at Evercore, I worked on a real estate sell-side project. The project started as an intern assignment but quickly evolved into a genuine opportunity when the client engaged with the team earlier than expected.
What made it memorable was how closely I worked with senior team members. It was a great learning experience, especially when it came to modeling the business plan and ensuring the valuation methods aligned with market standards.
On the presentation side, making sure each slide conveyed the right message was another key challenge. It really helped me develop my communication skills and understand the importance of delivering clear, concise messages.
The energy and enthusiasm of the team made a big difference, and the project had a tangible impact. I was trusted with significant work, which was an incredible responsibility for my first real banking project.
Q: How does day-to-day life compare to what you expected?
It’s more varied than I expected. As an analyst, you’re responsible for multiple tasks, making sure everything is moving forward and in line with the team’s needs. This includes financial modeling, updating pitch decks, and checking that everything leaving your desk is accurate.
However, the role isn’t all about high-profile tasks. Some of the less glamorous responsibilities, such as setting up virtual data rooms (VDRs) or managing due diligence, are equally crucial to the M&A process.
That said, the most important part of the role is being a reliable source of accurate, traceable outputs that senior bankers and clients can depend on.
Q: What are the key skills to succeed, and what advice would you give to someone looking to break into the industry?
Time management and organization are crucial for success in investment banking. The routines you develop at university can really help you in this industry. While you’ll learn many skills on the job, being organized and disciplined is something you can start developing early.
It also helps to show genuine passion for banking and to let that enthusiasm shine through in interviews. Because the industry is highly collaborative, ensuring you’re a good fit for the team’s culture makes a real difference. Lastly, don’t get discouraged. There are many paths into banking, and while timing plays a role, it isn’t everything.
Q: Where do you see your career in 5 to 10 years?
I’m in the early stages of my career, so I’m focused on learning as much as I can. I’ve worked across different sectors, like FIG, debt advisory, and real estate, and I’m still figuring out where I want to specialize. In 5 to 10 years, I hope to continue growing at Evercore and build up my expertise in the areas that interest me.
I’ve really enjoyed working on M&A transactions within insurance in the FIG team and am currently building foundational knowledge in capital structure through Debt Advisory. Over time, I’d like to combine these skills to become a trusted advisor across complex capital and strategic situations.
Q: What trends do you think will shape the future of IB, and do you think AI will change the skills junior bankers need?
It’s hard to predict, but we’re already seeing shifts due to economic uncertainty, geopolitical instability, and the rise of private credit. Sectors like technology and financial institutions are likely to experience strong deal flow, and private equity may adjust its strategies in response to market conditions. As deals become more complex, expertise in navigating them will be crucial.
Artificial intelligence (AI) is beginning to reshape what’s possible for junior bankers. While traditional skills like financial modeling, presentation drafting, and attention to detail remain essential, AI is already enhancing how efficiently we can work. Rather than replacing core responsibilities, AI tools are increasing the amount of work analysts can take on.
This creates valuable learning opportunities early in our careers, whether through faster access to relevant data or real-time feedback on technical work. Junior bankers will need to develop a strong understanding of how to use these tools effectively, turning AI into a force multiplier for both productivity and development.
