Capital Markets Life

Hello this is my first post on here. I'm a first year university student and I wanted to know what can I do to prepare for a life in capital markets, i attended a talk with an MD in ECM and it really pushed my mind into wanting to work in Capital Markets, through research i found that they dont really do financial modelling, so i was just wondering what kind of things can i learn in order to be ahead come my second year when i'm applying for SA positions e.g. any skills, knowledge/terms, books etc.

Also, i have no preference for ECM or DCM

Comments (9)

  • Analyst 2 in IB - ECM
Jul 14, 2021 - 9:21pm

When it comes to Capital markets I would focus on getting some good market knowledge and being up to date on any trends and just what's going on in general. Being able to speak on such topics is important.

You are right on not having to do any modeling but it is very helpful if you understand it and can be able to work your way through one will help. It will be important to understand multiples and valuation so just because you won't have to do it, you should know it.

Most Helpful
Jul 14, 2021 - 10:09pm
MonkeyMaker, what's your opinion? Comment below:

Lemme tell you what ecm is like because most of this site is coverage guys. Ecm really isn't that complex you follow and update on market trading for specific sectors and how comparable stocks are trading. Another thing is looking at recent transactions, and doing the sizing. You also do investor targeting based on comparable stocks the investor owns. You also throw in the usual PowerPoint stuff like tombstones and profiles. We also help put together memos and fill in our part on them. We sometimes have to do a dcf but that's pretty rare, it's only if you need to do a specific trading hypotheticals in biotech where they are so dependent on if their drugs get approved. That's about it really, I would say get used to understanding how things like refinitiv, cap iq, and Bloomberg work. Also understanding a lot of stock terminology is helpful like float and adtv and what they do to a stock since I know a lot of our discussions with clients are about this, at least when their is an issue. I chose ecm because dcm is apparently extremely boring unless you're in high yield apparently.

  • 4
Jul 15, 2021 - 8:59am
MonkeyMaker, what's your opinion? Comment below:

Heads up I work in the US for a large MM firm, so my hours are probably better than a BB, but I'd say probably like 7:30-7:30, on a typical day, sometimes a little bit of weekend work. The analysts all work at least one weekend a month I say. We do have nightmare nights sometimes though where it's your 2 am finish.

Jul 15, 2021 - 10:58am
AngelOfMusic, what's your opinion? Comment below:

I'm also in ECM and have a similar schedule. I'm on by 7:30, quite by 8-9pm but I am paying attention and getting stuff done till around midnight 2-3x a week. Saturdays I never do anything unless I'm trying to get a head start. Sunday afternoons pick up and get stuff done. I'm on a very deal heavy team so It's pretty busy for me.

Jul 16, 2021 - 11:56am
MonkeyMaker, what's your opinion? Comment below:

Just looks for banks that aren't headquartered in nyc banks like Truist, William Blair, Baird etc. otherwise you probably won't be finding pure ecm groups outside of nyc.

Jul 16, 2021 - 12:16am
Cj-Chan, what's your opinion? Comment below:

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