The WetFeet Insider Guide to Careers in Investment Banking by WetFeet

By WetFeet

So that you imagine you need to paintings on Wall highway. the assumption of operating within the monetary markets excites you—and so does the assumption of constructing a major wage. prior to you interview, even though, you need to take a little time to contemplate your occupation selection extra conscientiously. Do you really need to paintings eighty hours every week? in the event you do, during which organisations might you most sensible healthy? and how much banking do you actually need to do? be sure you learn this Insider advisor to benefit the solutions to those and plenty of different questions: enterprise snapshots—brief profiles of major companies. what's operating in an funding financial institution particularly like . . . past the entire brochure-speak? What are the possibilities for undergrads and MBAs in company finance? Public finance? M&A? revenues and buying and selling? learn? What do humans rather do in every one of those parts, in simple English? that have been the head I-banking businesses, via class, in 2001 and 2002? What are the most recent traits within the undefined? What are the simplest articles to learn at the I-banking companies (and what's WetFeet's spin at the backside line)? How do insiders describe the pluses and the minuses of an funding banking career—lifestyle, tradition, perks, etc.? speak like a banker. it is time to play funding banking buzzword bingo! How a lot do I-bankers receives a commission besides? What are a few interviewing counsel from insiders? On what measures will your interviewer be comparing you? What questions if you organize on your I-banking interviews?

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31 I N D U S T R Y T H E poorly, registering an 85 percent decline in the amount of equity brought to market. Equity underwriting performance was weak in the United States, where Q1/Q2 2002 proceeds clocked in at $55 billion, down 13 percent from the same period in the previous year—but even weaker in Japan, where, at $7 billion, total proceeds were down nearly 48 percent from the same period in 2001. But all the news was not gloomy in equities; equity underwriting was down only slightly in Europe, and rose nearly 33 percent in the Asia Pacific region.

Equity underwriting performance was weak in the United States, where Q1/Q2 2002 proceeds clocked in at $55 billion, down 13 percent from the same period in the previous year—but even weaker in Japan, where, at $7 billion, total proceeds were down nearly 48 percent from the same period in 2001. But all the news was not gloomy in equities; equity underwriting was down only slightly in Europe, and rose nearly 33 percent in the Asia Pacific region. Source: Investment Dealers’ Digest, 7/8/02. Asset-Backed Securities, Collateralized Debt Obligations, and Mortgage-Backed Securities Investment banks had to be pleased with their performance in these areas in the first two quarters of 2002.

62 The career trajectory of an investment banker usually follows one of two paths. Those who grind away on the career track move from associate to VP to managing director over the course of about four to eight years. Others will tire of the work, put in enough time to collect a bonus or two, and then leave the industry (or be fired). Investment banking experience can open many doors to future opportunity. “You certainly have a great Rolodex when you’re done,” says one insider.

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