Capital Market (specifically ECM) for Post-MBA Associate
I'll be starting at an M7 this fall and I'm getting very interested in ECM (TMT) as an option. I would love your guys on thoughts on a few things. I'm coming from tech and my goal is to maximize pay and WLB. I don't mind working 12-14 hours, but don't want to get in a habit of being at my desk till 12 am every day 7 days a week.
How comparable are Capital Market's salaries to Coverage groups? (how likely is it possible to hit 300K by 2nd or 3rd-year associate? What's the salary range when you hit VP and likeness of that happening?) I feel like the ones reported on WSO seems low.
What are the best shops to go to especially if you are interested in TMT?
How do you prepare for recruiting? I'm assuming it's the same as banking but I would like to hear your thoughts if you have a book in mind for capital markets like the McKinsey Way for consulting or something I should be doing.
What should I know and consider? I know the exit options are not sexy but I would hope to be a career banker if I can make it. I already have some consulting/tech ops background so not too worried about going back to start-up ops land but obviously want something greater/guaranteed.
Hi businessschoolscrub, check out these resources:
I hope those threads give you a bit more insight.
Bump. Very little information on this. Would appreciate any thoughts!
Bump interested
Base salaries are identical, bonuses around 80% of the coverage guys. You will definitely hit 300k+ by third year at any BB. GS has a great TMT franchise but I'll let someone else speak to whether that extends to their capital markets group. At any rate, if you get into a BB and into TMT, whether or not it's a top group is less important as you can always lateral down the road. Recruiting is fairly similar but would be more emphasis on market dynamics than M&A type questions. You're more likely to have to do stock pitches and stuff in an interview. If you're looking to be a career banker, it's a great spot.
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