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At the junior levels , entry-level professionals in both fields spend a lot of time in Excel working on models, valuations, and documents such as equity research reports and investment banking pitch books. If you do IB, you can get into deal-based roles ( private equity , corporate development , venture capital , etc.),
based bulgebrackets (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 bulgebrackets, the U.S.-based based firms (GS, MS, Citi, JPM, and BofA) tend to perform best. or Europe and recruiting there.
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. It offers the broadest set of possible exits within the finance industry if you leave early (in your Analyst years).
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 bulgebracket bank. Instead, pick a single company and give yourself 1-2 hours to assess it and build a simple model.
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. I have covered finance careers for ~20 years, and I can think of exactly one person who has made this move directly.
Finally, many renewable energy debt deals take place within Project Finance teams at banks – but Project Finance and corporatefinance are very different ! Debt deals also happen, but many are in a Project Finance context, meaning they’re outside the purview of the renewables IB team.
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