Well it depends what area of investment banking you go into. But generally you start out as a trainee and work your way up to managerial etc roles. Often you are encouraged to complete relevant professional credentials, such as those administered by the Chartered Institute for Securities & Investment, ICAEW and the Chartered Financial Analyst qualification.

I would like to recommend a website for the students and professionals who are looking for a career in Investment Banking. The site is http://www.globalbankingtraining.co.uk. They have 30 course Investment Banking Boot Camp which prepares delegates for investment banking jobs. They provide free CV review and arrange mock interviews.

You start off as a Graduate Analyst, then work your ass off for three years, get your CFA and/or IMC and either get promoted to an Associate or go and get an MBA from business school. After business school you generally return as an associate. After a few more years and making the right impressions you can become a VP of a section (for example Vice President of European ETF's or something). Then there's Managing Director, less work, huge responsibility but massive pay and bonus. After that its senior exec level etc (ridiculous pay). Don't get confused: if you go into a research position it goes: research assistant, research associate then research analyst. Either way, depending on how bright you are (or how well connected you are) you can progress quite quickly up the pay scale. But you will have to put in the hours and some roles can be quite mundane and repetitive at the start.