ECM / DCM at Bottom Tier Banks - Cheatcode?
I am currently just trying to "collect checks" and want the easiest way to get a pretty high comp. I did IB in coverage then now PE and the job is just too much. Hours are insane, work is too intense, too many hardos, etc.
After my associate PE stint, I plan to go back to banking in ECM or DCM only at place like Soc Gen, Citizens, Mizuho, Santander, etc. Do you guys think I can raise the ranks to director or VP relatively easily? What are lifestyles like for associates and VPs?
Assuming you don't get stomped by guys who care more about their work, yeah it would be easier.
I know it would be easier than coverage, but my question is like how much easier exactly. Like not even comparable?
I interned in a coverage group at a lower-tier bank (think MUFG/SMBC) and, from what I could tell, hours are very light. Work is primarily relationship management with juniors working on different credit processes and industry slides. Relatively boring, but hours are like 9-6 and pay is fairly good. It honestly was probably lighter than our DCM team
Did summer analyst at one of those places in one of the cap markets seats and it was the definition of a "cushy" job. Office became empty by 7 PM and everyone logged off by like 9 PM barring anything unusual. Most Fridays seemed like even the FT people could be done at like 3 PM.
That was my experience. Did you re-recruit? I decided not to because I didn’t think I could get a better spot wlb-wise. Definitely leaving opportunities on the table but I plan to lateral as an analyst or associate
Yea, lateraled to a coverage group in BB. Kinda knew it would be harder later on to lateral given the more time you spend in a cap markets group the more you pigeonhole yourself especially since you likely aren't doing any modeling. Anytime an opening comes up for a coverage spot at my bank its like 20 people in cap markets/IB adjacent seats that push for it, only for the team to go externally with someone who had traditional IB experience. Its pretty rare for someone to make the jump from associate in a DCM/ECM seat to coverage, and frankly see more people from credit/credit risk roles make the move given they actually do some type of cash flow/3-statement modeling
del
Pretty unreal gig as someone who was at a firm / group like that for several years before moving to an EB. Learning significantly more now and likely see myself returning to one of those same groups when I’m older and have a family I want to see, but for now nice to get some complex deal experience. Although I do miss working M-Th and getting a slight discount on comp, vs working bascially 7 days a week now… grass is always greener I guess
so you were an associate in DCM? Mind letting me know how it was, hours wise, stress wise, what your main deliverables were, etc. I would really appreciate it
Omnis adipisci et illo ducimus amet veniam. Ad dolores tempore optio quis. Nam omnis aut accusantium distinctio soluta voluptates nisi. Iste deserunt tempore excepturi neque ut quidem. Doloremque et optio qui ut.
Quas at enim tempore eos molestiae. Possimus est sint pariatur voluptatibus error.
Eveniet ea voluptatem est corrupti debitis et. Veritatis omnis sint ut sit exercitationem voluptatibus. Repudiandae aliquid autem accusantium voluptatibus quisquam ex. Temporibus est minus voluptatem ut voluptatem. Labore et autem dolor illo quo fugit. Et nemo nesciunt corrupti optio.
Debitis doloremque quia ea voluptatem odio. Hic amet est non sint quod. Inventore quam molestiae quas sequi non.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...