Remove Bulge Bracket Remove DCF Remove Valuation
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Equity Research vs. Investment Banking: Careers, Compensation, Exits, and AI/Automation Risk

Mergers and Inquisitions

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. bulge bracket research team to startup PE firm). consolidation accounting , lease accounting , etc.).

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How to Get an Investment Banking Internship

Mergers and Inquisitions

Admittedly, not all banks did this, and many bulge bracket firms will start in the normal time frame of January – March. Big 4 or independent valuation firm internships. You should also start learning the technical side (accounting, valuation, and basic M&A and LBO concepts) and begin networking with alumni.

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

Mergers and Inquisitions

You’ll also have to spend time learning/reviewing the technical questions, as the day-to-day work in ECM and DCM is far removed from subjects like Equity Value vs. Enterprise Value or a DCF model. Yes, ECM/DCM beats options such as the Big 4 firms, small PE/VC firms, corporate banking, corporate finance, valuation firms, etc.