investment grade bond origination - what is this?
is that like a capital markets group that goes bt traders and bankers....
OR is is it more similar to the high yield financing group that does a lot of valuation, pitches and executes deals, etc...?
I interned in this - for financials.
As you prob know the basic idea is to go out to corporates and get mandates - and depending on which bank this is with this might be heavily driven by M&A activity necessitating an issue or by the relationships of the senior originators with the companies.
As an analyst my whole job was preparing pitchbooks which were pretty generic - maybe 15 pages out of 100 were customised to the client. Pricing was done by syndicate (essentially copying prices from their competitors) as was execution.
My other main task was sending out market updates and essentially spamming clients with news of deals we had done.
It can work out alright if you're good, one guy regualarly left at 5.30 each day and we reckoned his comp was well over half a million USD. On the corporate side it's worse you have to explain the basics of bonds and the market to many clients.
that doesn't sound too bad. what are the exit opps?
bmp
bump
shut the fuck up.
LOL
well one of the other interns ended up in PE but at a crap name, others end up at Citi group doing tda/structured issues - I don't think u really have tda in america though - otherwise if anything it was more of an exit op with traders and sales people ending up there wher eit was a training ground for management, a lot of the bank's semior managment came from the dept
what about i-grade bond origination at a firm that's already sorta crappy? is PE impossible out of that role? sounds like a deadend area...
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