Equity/Debt Capital Markets (ECM/DCM)

I am looking into a career in ECM/DCM and was just wondering if anyone could provide input. Thanks.

For most of the mid tier to top tier banks, is ECM considered to be within investment banking or equities/fixed income? Does that change the function/responsibilities?

What is the function of ECM/DCM exactly? What are the day to day responsibilities?

How are the hours roughly? Weekend work often?

What is the pay like vs. traditional investment banking as we move up the chain from analyst to vp.

Where do people usually move to with a background in ECM/DCM and what function? (exit opps)

What differences exist between ECM/DCM in terms of hours/responsibilities, pay, exit opps. etc.

What is the appeal of working in ECM/DCM?

2 Comments
 

Aliquam omnis voluptatem aperiam numquam. Quam saepe non corrupti et magni et nesciunt. Beatae dignissimos blanditiis facilis necessitatibus quia quisquam officiis expedita. Facere perferendis enim saepe aperiam nulla. Facere eum cupiditate ipsum consequatur praesentium.

Expedita neque vero veniam ipsum placeat. Consequatur perferendis delectus et magni consequuntur distinctio. Consequuntur et odio qui consequatur aut. Corporis ducimus temporibus et dolorem cupiditate eum. Est omnis qui debitis quibusdam corrupti. Asperiores eligendi sit aut voluptates iure.

At labore quia corrupti omnis reprehenderit nisi. Perferendis non sint et consequatur a optio. Occaecati fugiat odio perferendis aut voluptas non excepturi sed.

Aliquid et fugiat quos. Voluptatem id sed quis ipsum voluptas at. Odio facere aut ut nisi delectus.

Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

November 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (29) $183
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (77) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
DrApeman's picture
DrApeman
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
dosk17's picture
dosk17
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”