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Investment Banking in India: Please Avoid It and Try Again in Another Country

Mergers and Inquisitions

based bulge brackets (GS, MS, JPM, Citi, and BofA) are the strongest international banks, and Avendus, Kotak, JM Financial, ICICI, and Axis are the strongest domestic firms. Among the bulge brackets, the U.S.-based based firms (GS, MS, Citi, JPM, and BofA) tend to perform best. or Europe and recruiting there.

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Trading at the frontier

The TRADE

In nothing short of a baptism of fire, he took his first steps into trading in January 2007 in the build-up to the global financial crisis. Given the liquidity landscape can often be more sparse or difficult to navigate, the use of local brokers alongside the bulge brackets is something Willis thinks is essential to minimise market footprint.

Trading 58
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Wealth Management vs. Investment Banking: Career Deathmatch

Mergers and Inquisitions

For example, they might ask you how to use a DCF, what bond yields are, or the trade-offs of debt vs. equity – but but they won’t ask you to build a DCF model or calculate Unlevered Free Cash Flow. As with the job itself, the theme is breadth over depth.

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The prime brokerage pie is growing, which means bigger slices for everyone

The TRADE

So you can see how this growth and momentum just starts to really build over time.” This has created an ongoing opportunity for mid-tier prime brokers, particularly those with broad asset class and geographical capabilities comparable to those of the bulge bracket banks. They need a financing platform to support all of that.

Funds 68
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The Full Guide to Pre-MBA Internships: Are They Worth It?

Mergers and Inquisitions

We’ll return to this point later, but in finance, it’s more common to do a pre-MBA internship at a small VC/PE firm or boutique bank rather than a bulge bracket bank. For example, if you’re targeting PE internships, don’t spend 10 hours building a hyper-advanced LBO model with PIK Interest , bolt-on acquisitions , and a dividend recap.

IT 59
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From Wealth Management to Investment Banking: How to Make the Leap

Mergers and Inquisitions

The work might not be for you , even if you’re good at it – for example, maybe you find deals far more interesting than building a client book or managing their portfolios. The average compensation in investment banking is higher (yes, top wealth managers can earn millions per year with great hours, but we’re talking averages ).

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Investment Banking in Singapore: The Best Gateway to Asia for the Non-Chinese?

Mergers and Inquisitions

The basic difference is that the international bulge bracket banks tend to be stronger in M&A advisory and weaker in equity and debt capital markets. These banks focus on the capital markets, so you should target the bulge brackets if you want to work on M&A deals. you might be at the office until 5 AM.