Introduction

Introduction - INVESTMENT BANKING & FINANCIAL...

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Unformatted text preview: INVESTMENT BANKING & FINANCIAL SERVICES JOB PROFILE OF INVESTMENT BANKER Investment Banking Overview - Job Details The most senior people, called Managing Directors, are in charge of industry/product groups and handle the majority of interaction with clients; 10-20 years experience Vice Presidents are the next tier down; they oversee the everyday details of transactions and make sure deals go smoothly; 5+ years experience Associates are the upper level of the junior tier; they finalize and proof most of the documents and models necessary to execute transactions; most Associates are either new MBAs from top business schools or analysts promoted after 2-4 years of high performance Analysts are the junior-most level, usually fresh graduates from top schools around the nation; they perform the majority of the grunt work, or the heavy lifting So what do investment banking analysts do all day? Preparation of all documents and memos, from pitch books that go to prospective clients to offering memoranda for potential investors Building and running financial models that track transaction viability and predict possible outcomes Updating all internal databases and systems (i.e. data entry, proof-reading) General administrative chores like setting up conference calls, copying, filing, sending faxes, arranging deliveries, and most importantly Guaranteeing senior people never look stupid during calls or meetings having all the answers Investment Banking Overview - Job Details What kind of a lifestyle / work environment can I expect? 12-15 hour days, usually some weekend work as well Very high stress: constant pressure to perform, competitive environment, and demanding superiors Multi-tasking: running with 6 projects at once, minimal tolerance for errors Lots of menial grunt work and micromanagement before youre trusted to operate without oversight Meetings and conference calls throughout the day, catching up with your real work after 5PM Its expected that youll sacrifice your personal life and health for this career - not for the faint of heart 3 meals/day in front of the computer Very common to be forced to cancel vacations and miss holidays/birthdays when needs arise Investment Banking Overview - Job Details Ouch! Why would anyone want a job like that? Great experience, unparalleled industry and market knowledge: 3 years of experience @ 80 hours/week = 6 years of full-time knowledge Interaction with senior management from a variety of firms/industries Feeling of doing something noteworthy: your work makes the papers Experience looks great on the resume, opens doors to more humane jobs Investment Banking Overview - Job Details * Estimates, as compensation varies drastically amongst firms, groups, cities, and throughout business cycles....
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This note was uploaded on 01/28/2011 for the course FIN 315 taught by Professor Welker during the Spring '09 term at IUP.

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Introduction - INVESTMENT BANKING & FINANCIAL...

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