What's the difference between ECM/DCM and IBD?
What is the difference between ECM, DCM and IBD? I've went through sites like M&I, and I still don't get a clear distinction between them. Are ECM/DCM exclusively product groups while IBD is an exclusively industrial group?
Also, it seems to me that S&T, ER and ECM/DCM are commonly categorized under Investment Banking, however, there seems to be an Investment Banking Department under Investment Banking itself, does this mean the coverage group?
How competitive would you say it is to get into ECM/DCM vs. IBD?
How different are the skillsets required for ECM/DCM vs IBD?