Questions about ECM/DCM Groups

They're not talked about as much on this forum but what do you think of a career in capital markets? I'm more interested in this area than other parts of investment banking and I'm leaning towards it so I want to hear your opinions on it.

Any reason I shouldn't aim for ECM/DCM groups? Hours seem better, work seems more interesting (at least for me) and the compensation is great. Only thing I could think of is market roles being automated but I assume I shouldn't worry about this since IB is more of a relationship business right?

Secondly, since capital market groups have fewer exit opportunities, could I just stick with it long term since the hours are about as good as PE in many groups? Or is this crazy talk?

Lastly, how would you compare capital market groups at Big 5 banks in Toronto vs BB banks in NYC? I'm currently attending Richard Ivey so I feel confident in securing a Canadian position but I'm wondering if that would entail a large difference between their American counterparts.

2 Comments
 
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Go for it. These areas are super interesting and can be very lucrative places to build careers. The reason people are afraid or wary of them is that they tend not to facilitate exit opportunities into private equity as easily. That said, it is not impossible if that route appeals to you at a later point in time. Follow your passion.

 

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