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Equity Research vs. Investment Banking: Careers, Compensation, Exits, and AI/Automation Risk

Mergers and Inquisitions

Traditionally, banks gave away equity research reports for free to incentivize large clients to trade with the bank. Therefore, equity research generated revenue indirectly via trading commissions , but it was still considered a front-office role due to the compensation, interaction with managers and investors, and exit opportunities.

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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. Financials are usually in the #1 spot because banks and insurance firms constantly issue debt; other sectors trade places in the rankings.

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Capital Markets vs. Investment Banking: Deals, Careers, Recruiting, Exits, and Offer Decisions

Mergers and Inquisitions

Many firms put capital markets groups within “Investment Banking,” but some include it within Sales & Trading or “Global Markets.” Specifically, private equity is not feasible from most ECM or DCM teams, hedge funds are also challenging, venture capital is a stretch, and you won’t have the right skills for corporate development.

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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. It offers the broadest set of possible exits within the finance industry if you leave early (in your Analyst years).

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

Mergers and Inquisitions

We cover many of the trade-offs in the earlier wealth management vs. investment banking article , but in short: Investment banking has better exit opportunities at all levels. I have covered finance careers for ~20 years, and I can think of exactly one person who has made this move directly.

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Investment Banking Spring Weeks: The Full Guide

Mergers and Inquisitions

All the bulge bracket banks in the U.K. Outside of IB, various asset managers, hedge funds, consulting firms, and trading firms also run some type of spring week program, but we’re focusing on banking here. The rates trading article has some tips for S&T assessment centers and interviews.

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UBS and Credit Suisse: The Next Shoe to Drop in the Financial Crisis of 2023?

Mergers and Inquisitions

per share when it was trading above $8.00 First, Credit Suisse is obviously no longer a bulge bracket bank , so I’ll have to update that article. So, if you’ve accepted an offer at CS, all you can do at this point is network around and look at fields outside of IB (Big 4, corporate banking, valuation, corporate finance, etc.),

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