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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. As with the job itself, the theme is breadth over depth.
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. For example, corporate banking would satisfy many of these goals.
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. 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’s safe, stable, low-tax, and light on corporate regulation – you can safely ignore the occasional executions of cannabis traffickers. The basic difference is that the international bulgebracket banks tend to be stronger in M&A advisory and weaker in equity and debt capital markets. you might be at the office until 5 AM.
Finally, many renewable energy debt deals take place within Project Finance teams at banks – but Project Finance and corporate finance are very different ! For example, if a renewable developer wanted to raise debt to build a new offshore wind farm as a separate entity, it would fall under Project Finance.
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