Remove Bulge Bracket Remove DCF Remove Debt
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Wealth Management vs. Investment Banking: Career Deathmatch

Mergers and Inquisitions

By contrast, investment banking is more about advising companies on transactions such as M&A deals , equity and debt deals , and restructuring. You will very rarely get exposed to the type of financial modeling that bankers complete: 3-statement models , DCF models , M&A models , LBO models , and so on.

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

Mergers and Inquisitions

or debt offerings (investment-grade or high-yield bonds). DCM Results: The company raised funding more quickly than expected or on better terms; it saved $XX in interest expense by refinancing at a favorable rate; it improved its leverage and coverage ratios via refinancing; it raised enough debt to meet an upcoming cash crunch.

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

Mergers and Inquisitions

But you would not build models for M&A deals, leveraged buyouts, or debt/equity issuances in research or at least, they would be far simpler than the IB versions. bulge bracket research team to startup PE firm). Investment Banking: Which Ones Right for You?