• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Career planning - Investment Banking

Extracts from this document...

Introduction

´╗┐Investment Banking: Skill and Talent Requirements Investment banks want employees with a combination of strong analytical and interpersonal skills. Some jobs lean more towards one skill set than another (e.g. brokers need to be mainly sales people). A typical job of an equities analyst requires both analytic and interpersonal skills. The skills involved include: Key Skill Area Requirement People skills: High Sales skills: Medium Communication skills: High Analytical skills: High Ability to synthesize: High Creative ability: High Initiative: Medium Work hours: 50-120/week Hard Work Expected and Respected Investment banking is a high work, high risk, and high reward profession. When you start your hours will typically be long but the work can be exciting. Be prepared for moments of frustration where you are stretched too thin and moments of exhilaration where everything clicks. Tough to Break In It's relatively hard to break into investment banking. You need to be prepared to pursue firms on your own after you have thoroughly prepared yourself. Analyst Jobs Are the Best Entry Point Many college graduates start in investment banking in an analyst position. To succeed in these positions you need to be extremely dedicated, have good spreadsheet skills and be analytically fluent. Your next step will be to become an associate. Same skills just raise the volume. ...read more.

Middle

Sometimes jobs in corporate finance are referred to as investment banking positions. Capital Markets This position can be either in Debt Capital Markets or Equity Capital Markets (ECM). Debt Capital Markets (DCM) is often broken down into high yield bonds and investment grade bonds. Sometimes, there are separate desks for origination of sovereign, supranational or municipal bonds. Capital markets officers help companies originate new issues of debt or equity. They get calls from bankers who have clients who are interested in issuing. They then look at market conditions; perhaps tracking swap spreads across the interest rate curve using a Bloomberg terminal and advises as to the right time and form of issuance. Mergers and Acquisitions Setting up deals where one company buys another is an important source of fee income for many investment banks. When this area is hot on Wall Street, it can be hugely profitable. But even when capital markets conditions make it difficult for companies to finance acquisitions, as they did in the 2008/09 recession, strategic mergers continue to happen and banks that specialize in M&A continue to do deals, albeit at a lower volume. If you go to work in this area you would help out with a team which acts as an advisor to a client, values transactions, creatively structures deals and negotiates favourable terms. ...read more.

Conclusion

This is a tough business to get started in (especially if you are much younger than your clients), but the rewards to a good people person with great sales skills are high. Many brokers earn upwards of $500,000. Institutional Sales In institutional sales you would be responsible for conveying information about particular securities to institutional investors. You would be likely to have heavy contact with portfolio managers and your own firm's analysts and traders. Sales skills and product knowledge are crucial in this area as is the ability to get through to busy institutional investors. Working in sales for an investment bank (on the sell side) is often good preparation to move over to the buy side (insurance companies and mutual funds). Both types of jobs can be brutal and subject you to abuse. A common Wall Street Joke: What's the difference between a sell side and a buy side player? Answer: On the sell side they curse you only after they hang up the telephone. Taking abuse can be lucrative. The average salaries in institutional sales can exceed $750,000 per annum. Investment Banking: Firm List 1. Bank of America Merrill Lynch 2. Barclays Capital 3. Blackstone Group 4. CIBC 5. Citigroup 6. Credit Suisse 7. Deutsche Bank 8. Evercore Partners 9. Goldman Sachs 10. HSBC 11. JP Morgan 12. Lazard 13. Moelis & Co 14. Morgan Stanley 15. Nikko Securities 16. Nomura 17. Piper Jaffray 18. RBC 19. Torreya Partners 20. W.R. Hambrecht ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level People & Operations Management section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level People & Operations Management essays

  1. Marked by a teacher

    Roles and Responsibilities of Staff Members at McDonalds.

    5 star(s)

    Communication skills involve; asking relevant questions, enthusiasm, listening skills, posture, responses to questions and speaking skills. Paperwork and Documents include; the quality of CV, quality of application form and qualifications gained. These are all judged for all the candidates and rated between 1 and 10, one being the weakest and ten being the strongest.

  2. Unit 13 - Organising an Event

    coach journey would be the most appropriate, because it would keep all the students together. As a result we decided to go ahead and book the coaches with Lewis coaches, as this was the cheapest and the school recommended using them, as the school has used them several times before.

  1. Personal Development Planning

    which provides the evidence of this * Identify skills which you still need to develop * Suggest activities you intend to try, which enables you to develop them. Completing this exercise, will gather you relevant information for your CV and identify gaps in your skills profile which you need to address.

  2. The main aim of this research is to evaluate the information on the human ...

    With this right attitude work and best efforts are promoted. Based on that pay will be increased, job extension, promotion and recognition are done by motivating staff. In motivating staff following schemes are involved. * Appreciation and commendation letters * Meritorious and long service awards * Long service travel awards

  1. Unit 13 Applied Business

    This means as long as we do not spend over our budget, we are likely to come out with a profit at the end of the day because we have not lost anything. It should not be hard to stay within the budget, as the raffle will cost little money

  2. Recruitment at Asda - creating a job advert and related documents.

    By this it should be very clear for any applicant who is interested in the job position as it has all the necessary information that needs to be known by the applicant. Chelsea and my person specification had only the basic information and there were not explained in a depth information like Arry.

  1. I will be producing a report detailing the factors the factors that Mobile Communication ...

    There are some responsibilities that employers needs to consider in a workplace and by refund expenses incurred in doing the job, paying the agreed rate, providing safe and healthy work place, by receiving a written contract within two months of starting work and to be paid a fair wage or salary in return for being ready and willing to work.

  2. Motivation within a workplace - examples from Asda.

    X manager is based around checkouts as this requires more set procedures and instructions, however a Theory Y manager would be those who work on fruit and vegetable who only require simply movement and require good hygiene factors. Herzberg Along with Maslow, Herzberg believed in a two-factor theory of motivation.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work