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How to break into DCM? (Originally Posted: 10/21/2010)
Here is the story, certainly common to many people in the tough time we ve been trough.
About 3 years ago,I finished my Master in finance and could only manage to secure a MO role in Structured Finance (CDO) in a top 5 BB in London. The role basically consists of cash management, producing report and running test for the fund managers.
For about 12 months I ve been desperately trying to secure an analyst position in the fixed income industry whether in one of the CDO funds or in a debt division in a BB. But it seems that the only call I received from agents are for more of those BO-MO role.
With plenty of legal doc and a reasonable product and business knowledge, I reckon Debt Capital Market should be within reach. Can anyone relate his/friend's experience on how to get from a support function to origination/DCM sort of role? Is there any in-between role to go through first? Which skills to develop?
Thanks in advance for sharing your experience
P.
What does your resume look like? I currently am in a similar role but RMBS, CMBS, and ABS for a large US commercial bank.
Well as I said, good academic credential although no prestigious school, and almost 3 years in client service department. Moves within the bank are not easy at all to say the least, and applications to other banks seem to be work only for like-for like role.
Any role new role receive hundreds of application from well qualified people ready to compromise in this difficult market. Why DCM and other similar departments would bother taking on board a rather inexperienced individual with all the skills available for cheap on the job market. Well, i am still trying to figure out.
What is your perception from your job search, any good call now and then?
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