M&A vs DCM/ECM, I want to have a life outside banking.

Hi,

I am doing a master's in Econ at a target school, and went to the same school for undergrad. Finally decided to bite the bullet and go into finance, but can't decide which division. From what I can tell from research and from my network, M&A analyst is boring and the hours are horrendous, but the skills you get make it worth it. I do not want to burn out (been there before) but feel M&A could be worth it as my long-term career plan is vague. However, looked at DCM/ECM (leaning towards DCM) but am afraid that I'll not like it, but be stuck due to lack of transferable skills. Any advice would be greatly appreciated.

5 Comments
 

Interned in DCM at one of the top DCM groups on the street. They probably clocked in between 60-70 hours on average. Could be different in person.

 

If you already burned out before, do NOT go into IB... how do you think you gonna react when you work 80-100 hrs per week ?

M&A you build more skills and have more personal impact, ECM you have little personal impact as the IPO matrix is larger but deals are generally bigger. 
 

M&A hours are the longest.

No clue about DCM, but strategically probably the least interesting of all 3. More capital structure exposure though 

 
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