Advising clients -When does it start?
Hi I will be working as a summer analyst at a top BB this summer. I know that all of my time will be spent on Excel & Powerpoint, and that that's pretty much what I will do as an analyst. But I also want to know about long term prospects.
What really makes being an investment banker interesting to me is advising clients. Giving them advice on which company to buy (or sell to) based on rigorous quantitative and qualitative review. And cold-calling companies proposing to merge with another company I have come across due to my in-depth expertise. Stuff like Alex Dibelius calling Daimler and proposing to merge with Chrysler and getting the deal done (OK, of course I will want the deals to turn out to be more succesfu ;))
What position do I have to reach to be able to engage in that? Maybe as a VP? What about if I'm a great associate and have some genius idea?
I read somewhere that as a result of some failed mergers most companies now do most of the strategy themselves and only hire investment banks for execution, is that correct?
I appreciate your answers.
Your high spirit will be broken long before you ever advise clients. Don't be a fool, work hard during your internship, do your 2 years as an analyst and get the hell out of banking.
"Giving them advice on which company to buy (or sell to) based on rigorous quantitative and qualitative review." This simply never happens. MD's will ask VP's for "actionable targets" if they can't think of enough. The VP's will come up with one or two and push it down to Associates or Analysts. These junior bankers will screen for companies that are remotely related to the company being pitched and are sponsor owned or have a retirement age management team. The business is about the fees, not building companies.
Fuck, is there really no one here who is even remotely enthusiastic about his job?
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