A choice between IB and CM
I've heard that a work in CM related to research or structuring is about being concentrated on a particular product while a work in IB consists of a broader range of tasks and analytical stuff. So it makes people more universal. Moreover, some people say that you're likely to play minor role in comparison to traders or sales. But on the other hand, there is an opinion that junior positions in IB imply a lot of grind.
Does anyone have any ideas about it? What job is more interesting in terms of brainwork and career development?
you're talking about sales and trading vs ibanking? there are at least a dozen threads on this already, read through them.
In my case CM is not about trasing and sales. It's more likely to imply some research or structuring related work
structuring often sits with trading though.
Somewhere at this forum I've found out an opinion that traders are likely to neglect the advices from research analysts. I've looked through many threads about trading and IB here, but they tend to dedicated to the comparison of hours, pay and exit opps. What is important for me, whether these long hours in M&A or ECM are filled mostly by a challenging analytic work or a grind. It would be great to know how it actually works.
Is it write that traders and sales play the major role in CM while other groups just provide a support for them?
'Is it write that traders and sales play the major role in CM while other groups just provide a support for them? '
yes this is generally correct. they are the profit centers.
'What is important for me, whether these long hours in M&A or ECM are filled mostly by a challenging analytic work or a grind. It would be great to know how it actually works.'
all these jobs have elements of both. read some of the older threads first.
Thanks for advice, this time I've really managed to learn smth new about the industry. To state my problem clearly, I have to choose between interships in ML IB(it has DCM/ECM, M&A, LevFin among the subdivisions, though I can be sure only that I won't be rotated through sales or other relationship work) and Lehman CM. Both pursuits are in London
Still cannot decide
Choose ML IBK. You will always be able to switch to capital markets after M&A. To make a vice verca switch might be harder.
Thanks for the hint. I've read dozens of messages saying that M&A is by far better than for example ECM\DCM. Is it really that way?
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