Investment Banking Associate Jobs in Illinois
Investment Banking Associate jobs in Illinois are concentrated in Chicago's world-class financial district, one of the most active markets in the country for middle-market M&A, leveraged finance, and capital markets work at every level from analyst-track associate through senior vice president. Most hiring flows through Chicago, with additional activity in Naperville and Schaumburg as financial services firms expand suburban footprints. Firms with a lasting Illinois presence include William Blair, Baird, and JPMorgan Chase, with consistent demand for associates specializing in industrials, healthcare, and financial sponsor coverage. Find a role that fits below and apply directly.
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Showing 5 of 29+ Investment Banking Associate jobs
Job Description Summary
Formulate new business proposals, develop company forecasts and valuations, evaluate merger and acquisition scenarios and prepare documents related to the public and private issuance of stock. Will work on every aspect of the transaction process, including participating in drafting sessions, new business proposals and due diligence meetings.Job Description
Responsibilities Conduct research using primary data sources, and select information needed for the analysis of key themes and trends. Provide financial modeling input into business cases, costs, and schedules to support growth in the business. Write and edit material for various target populations, tailoring the tone and content to match the needs and expectations of each audience. Analyze specific problems and issues to find the best solutions. Solutions could be technical or professional in nature. Skills Determine and analyze trends from data that is collected to assist in compiling reports that will help in decision-making. Apply appropriate analytical processes and procedures to support research schedules. Interpret data by examining patterns, trends, relationships, and implications to draw meaningful conclusions and answer critical questions. Professionally interpret financial information to support business decision making.Education
Bachelor’s - Completed: Accounting (Required), Bachelor’s - Completed: Business Administration (Required), Bachelor’s - Completed: Finance (Required)Work Experience
General Experience - 3 to 6 yearsCertifications
Salary Range
$75,000.00-$110,000.00Travel
Workstyle
ResidentThe total compensation for this position includes base salary or wages, and may include components such as additional compensation (cash or equity), discretionary bonuses, or commissions. This position is eligible for a benefits package that may include medical, dental, and vision; life insurance; critical illness insurance and accident insurance; disability benefits; retirement savings; paid time off (including vacation, holidays, and sick leave); and parental leave. Eligibility for benefits and specific offerings may vary based on position and employment status. To view more details of the benefits offered, visit Myrjbenefits.com.
We expect our associates at all levels to:
- Grow professionally and inspire others to do the same
- Work with and through others to achieve desired outcomes
- Make prompt, pragmatic choices and act with the client in mind
- Take ownership and hold themselves and others accountable for delivering results that matter
- Contribute to the continuous evolution of the firm
At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates. When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs.
Job Description Summary
Formulate new business proposals, develop company forecasts and valuations, evaluate merger and acquisition scenarios and prepare documents related to the public and private issuance of stock. Will work on every aspect of the transaction process, including participating in drafting sessions, new business proposals and due diligence meetings.Job Description
Responsibilities Conduct research using primary data sources, and select information needed for the analysis of key themes and trends. Provide financial modeling input into business cases, costs, and schedules to support growth in the business. Write and edit material for various target populations, tailoring the tone and content to match the needs and expectations of each audience. Analyze specific problems and issues to find the best solutions. Solutions could be technical or professional in nature. Skills Determine and analyze trends from data that is collected to assist in compiling reports that will help in decision-making. Apply appropriate analytical processes and procedures to support research schedules. Interpret data by examining patterns, trends, relationships, and implications to draw meaningful conclusions and answer critical questions. Professionally interpret financial information to support business decision making.Education
Bachelor’s - Completed: Accounting (Required), Bachelor’s - Completed: Business Administration (Required), Bachelor’s - Completed: Finance (Required)Work Experience
General Experience - 3 to 6 yearsCertifications
Salary Range
$75,000.00-$110,000.00Travel
Workstyle
ResidentThe total compensation for this position includes base salary or wages, and may include components such as additional compensation (cash or equity), discretionary bonuses, or commissions. This position is eligible for a benefits package that may include medical, dental, and vision; life insurance; critical illness insurance and accident insurance; disability benefits; retirement savings; paid time off (including vacation, holidays, and sick leave); and parental leave. Eligibility for benefits and specific offerings may vary based on position and employment status. To view more details of the benefits offered, visit Myrjbenefits.com.
We expect our associates at all levels to:
- Grow professionally and inspire others to do the same
- Work with and through others to achieve desired outcomes
- Make prompt, pragmatic choices and act with the client in mind
- Take ownership and hold themselves and others accountable for delivering results that matter
- Contribute to the continuous evolution of the firm
At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates. When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs.
See All 29 Investment Banking Associate Jobs in Illinois
Find roles in Illinois that match your experience and apply in just a few clicks.
Find JobsInvestment Banking Associate Jobs by City in Illinois
Where Illinois roles are concentrated, by current openings.
Investment Banking Associate Job Market in Illinois
A snapshot from current Illinois openings, updated as new roles post.
Who's Hiring
Top Industries Hiring
- Banking & Financial Services
- Investment & Asset Management
- Fintech
- Accounting & Auditing
- Consulting & Professional Services
What Illinois Employers Look For
The qualifications that appear most often in investment banking associate jobs across Illinois.
- Active FINRA Series 79 and Series 63 licenses required or expected within 90 days
- Bachelor's degree in finance, economics, or accounting from an accredited institution
- Two or more years of financial modeling, valuation, and deal execution experience
- Proficiency in Excel-based LBO, DCF, and comparable company analysis
- MBA from a target or recognized program preferred for associate-level advancement
- Strong written and verbal communication skills for client presentations and internal memos
Investment Banking Associate Jobs in Illinois: Frequently Asked Questions
How do you become an investment banking associate in Illinois?
Most investment banking associates in Illinois enter through an MBA program or a direct promote from an analyst role at a bank. FINRA administers the Series 79 and Series 63 exams, which are the primary licensing requirements, and candidates must be sponsored by a registered broker-dealer to sit for them. Illinois itself does not issue a separate state banking license for this role, so the path runs through employer sponsorship for FINRA registration, a finance-related undergraduate or graduate degree, and demonstrated financial modeling experience.
How much do investment banking associates make in Illinois?
Investment banking associates in Illinois earn a median of about $101,180 a year, based on May 2025 Bureau of Labor Statistics wage data, ranging from around $64,700 for the lowest 10% to over $166,090 for the top 10%. Pay rises with experience, specialty, and employer.
Which companies hire investment banking associates in Illinois?
Employers hiring investment banking associates in Illinois right now include JPMorganChase, Brown Gibbons Lang & Company, and Armory, based on current listings on Migrate Mate as of November 2026. Chicago's concentration of middle-market boutiques, large regional banks, and global bulge-bracket offices makes Illinois one of the more diverse hiring markets for associates outside of New York.
Which Illinois cities have the most investment banking associate jobs?
Chicago and Logan Square have the most investment banking associate openings in Illinois. Chicago accounts for the overwhelming majority, driven by its role as a global financial center with deep concentrations of investment banks, private equity firms, and corporate headquarters, while Naperville and Schaumburg attract openings from regional and community banks that have built out their capital markets and advisory teams in the suburbs.
Are there remote investment banking associate jobs in Illinois?
Yes, but they're rare. About 64% of investment banking associate openings tied to Illinois are remote or hybrid as of November 2026, which reflects how deal-driven and relationship-intensive the role is. The portions most likely to be done remotely are financial modeling, research, and presentation preparation, while client meetings, deal closings, and internal reviews typically require an in-office or on-site presence.
How can I get hired as an investment banking associate in Illinois with little or no experience?
The most realistic entry path is a summer analyst or full-time analyst role at a Chicago-area firm, which is the standard pipeline into the associate level. Firms like William Blair, Houlihan Lokey, and Lincoln International run structured analyst programs in Chicago where strong performers are promoted to associate. Candidates without direct banking experience often transition from corporate finance, Big Four advisory, or private credit roles. Completing the CFA Level I or earning a finance-focused MBA from a Chicago-area program such as Booth or Kellogg significantly strengthens a candidate's profile for associate-level consideration.
Where can I find and apply to investment banking associate jobs in Illinois?
You can find and apply to investment banking associate jobs in Illinois on Migrate Mate, which lists current openings from employers across the state. Find roles that fit your experience and deal focus, then apply directly to the ones that match.
See All 29 Investment Banking Associate Jobs in Illinois
Find roles in Illinois that match your experience and apply in just a few clicks.
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