ECM Syndicate
I’m about to start ECM full time and was told I would be most likely working with the syndicate team. Does anyone have any info about hours, bonus and what exactly the team does? Any help would be appreciated!
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Hours: around 60, depends on market. Can expect traditional IB hours or more if IPOs go crazy again. Would say about 60-70 for current market, obv depends on bank.
Bonus: on par with regular IB
Syndicate works with other banks in IPOs/FOs. ie 4 bookrunners so you work with these other banks. will say it is unusual to start in syndication as its typically a VP+ role. Not much an ANL can do. But a super cool role that you'll most likely love. IK a lot of ECM bankers who work their way to syndication.
What tangible skills does syndicate bring like modeling or ppt wise not looking for pe at all so just curious the skill set I will achieve. Will probably want to get out of finance in 2-3 years so is syndicate a good spot for that?
Well, out of finance? What do you mean by that? What type of job?
I will say typically people in ECM are there are one of two reasons: to move to coverage or to stay in ECM.
Being in syndicate won’t really give you the best to talk about as an analyst. There’s just so much you need to understand before you can really do anything tangible.
Syndicate would probably provide better exits than a typical industry ECM though. But that’s what I’ve seen at the VP+ level.
Bonus is not always on par with industry coverage or M&A groups. I was in ECM at a bank where the buckets in our group were always to a slight discount to non-capital markets groups. But I was fine with that given I had less 80-100 hour weeks than peers.
Is this JEF
Cushiest gig in IB but with 0 exit opps. Syndicate desks do not touch excel, PowerPoint, models, etc and therefore do not develop any deep industry knowledge. They are on the phone all day talking to investors
I've seen some buyside capital markets/syndicate roles pop up from time to time, so maybe that's an exit option. Totally agree, if I wanted to be a career banker would totally look at ECM syndicate.
Ah yes because coming up with bullshit excel assumptions makes you an industry expert…
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