Does anyone know what kind of hours does the Capital Markets division have? Lets say I'll be on the ECM/Credit Derivatives/Asset Finance desk at a BB over the summer. Are the hours more like IBD or S&T ?
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I would say 7/8am to 8/9pm. Occasionally you'll need to stay until midnight... But given the current market, I really doubt if that would ever happen in the summer... For weekends, I'd guess one out of two days at most.
IBD is like 9am to 11pm/midnight these days on average. S&T is like 6/7am to 6pm.
Thanks! Also, is there any difference in hours between ECM and DCM or are they roughly the same? Sorry I'm being a bitch about the hours but I need to factor this in to decide on appropriate summer accommodation.
Right now, DCM has a slow dealflow while ECM has little to none ongoing activities... So maybe you'll have a busier summer in DCM... In good years, I would expect ECM to be busier though.
Additionally, DCM/ECM at some banks are not involved in pitching and their main responsibility is execution. These group will have a lot less work these days comparing to a DCM/ECM team that needs to work on the pitches together with the coverage team.
ECM at my firm over the summer had pretty easy hours compared to the coverage groups...but they still worked pretty late, usually 9/10pm. usually in by 7:30/8am though
I was told by one of the ECM guys who interviewed me that deal flow was picking up due to increase in rights issues and private placements.
I am actually quite keen on DCM especially Financial Institutions Cap Markets and Fixed Income Structured Solutions. Any suggestions whether this is a good thing or not?
Call me crazy, but I want challenging work, long hours and something which is quantitative in nature. Any suggestions on desks?
This is in London btw.
Thanks for the comments guys!
If you like something challenging and perhaps a little interesting, then look into the high yield DCM desk. The work they is more interesting than the IG stuff. You might not get long hours though, because the market for high yield is pretty slow right now.
But since the market for high yield is slow, won't that make chances of getting a FT offer that much harder? The Capital Markets division at the BB I'll be interning at is trifurcated into: 1. Syndicate and Risk group 2. Origination and Coverage group 3. Advisory and products group
I'm not exactly sure what these are, can anybody explain what all do they involve ? And what would the best place to be vis-a-vis intelligent, quantitative and challenging work and longer hours alongside the hope of getting a FT offer. Yes, I know I'm being greedy! Thanks!
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