Will ECM take a hit due to economy?
For those of you in ECM or capital markets in general, do you think your jobs are more or less safe than those in IB?
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ECM/Lev Fin will be very hard hit. IG debt issuance market is somewhat open, with issue concessions. M&A at least has restructuring advisory that generally rolls in under that umbrella but will still take a hit. Energy will be very hard hit as well.
Thanks for info.
And quick other question... if by end of summer we're slowly bouncing back/worst seems to be behind us... what do you think would be more promising area to pursue, ECM or IB M&A?
Thanks!
Thanks for info.
And quick other question... if by end of summer we're slowly bouncing back/worst seems to be behind us... what do you think would be more promising area to pursue,purrecu, ECM or IB M&A?
Thanks!
What about ECM for life science companies?
This has been discussed before, but a bounce-back would mean the view on these would normalize to what it generally has always. ECM is a great choice if you're not very technically-inclined AND are looking for a career on the sellside. Your pay will be like 80% that of coverage/M&A through your career and the hours will also be around 80%. Just be aware that exit opportunities are much more limited. WRT to life sciences or otherwise, if the equity market sentiment is generally being crushed, you probably don't want to issue equity even if your share price has been relatively less crushed.
That said, if you have an ECM offer in this environment but don't have an M&A one, grab the ECM one with both hands. You can always lateral later.
But in your opinion (and I know there's other factors), M&A is preferable because of skills learned and exit opps?
That's tough to say, dude. If I were an analyst and wanted to keep my options open, yes I would join M&A. If I was sure I liked more client interaction (at an early stage) over executing deals and I didn't have the patience to deal with managers that were very granular about their requests and process-oriented, I'd take ECM. Maybe someone in your position who's having trouble deciding would be best suited for coverage, you get a bit of both and you get to work with both teams. Plus, when the market starts opening back up, there will be a flood of credit requests before M&A so probably a little safer in that regard.
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