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Even though we’ve covered industry groups vs. product groups and teams such as M&A , ECM , DCM , and Leveraged Finance , we continue to get questions about capital markets vs. investment banking. The questions usually go like this: Are capital markets teams (ECM, DCM, and LevFin) “real” investment banking?
To summarize: For investment banking at the undergraduate level, you need to start years in advance, have a high GPA, win at least 1-2 other finance internships first, and prepare intensively for networking and interview questions. and areas like corporatefinance or strategy at normal companies.
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.
The Top Firms in Wealth Management vs. Investment Banking Most people would say the top investment banks are the bulgebrackets and elite boutiques , at least for entry-level roles. 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. If you’re targeting an informal venture capital internship , private equity internship , or search fund internship , focus on smaller, local firms.
Admittedly, not all banks did this, and many bulgebracket firms will start in the normal time frame of January – March. Internships at local venture capital or private equity firms. Corporatefinance roles at nearby companies. Corporate banking. bulgebrackets (well, except for RBC).
I made the same mistake the regulators did: ignoring shifts in the Credit Suisse deposit and cash base because its regulatory capital ratios looked “fine.” First, Credit Suisse is obviously no longer a bulgebracket bank , so I’ll have to update that article. ” So, what happened? a year ago?
Finally, many renewable energy debt deals take place within Project Finance teams at banks – but Project Finance and corporatefinance are very different ! Various European and Japanese banks strong in Project Finance (Soc Gen, BNP Paribas, Santander, Mizuho, etc.) but they are less consistent than those above.
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