Interview - SMBC Capital Markets

Hi all -

I recently made my first post discussing my interest about breaking into IB, and my current career/skills. I've been talking to some MM banks, but have an interview coming up at SMBC CM for a FI Deriv Analyst position. While the position isn't directly IB (in any sense it seems) I wanted to get some insight on thoughts about the role.

My following comment gives information on the role. This is definitely good interview practice, but I don't know if I'd take the role granted an offer.

 

To save some time on the job description:

Create presentations and client marketing materials regarding market developments, trade ideas & hedging topics. Model derivatives trades in support of live execution, credit exposure modelling, and client requested analysis Participate in pre-trade checks including documentation, compliance and credit Manage post trade processes including trade booking, confirmations, reporting and P&L Oversee trading documentation including ISDA Master Agreements & CSAs. Manage counterparty credit process including requesting and maintaining trading lines Lead role in researching client financial statements and other marketing activities

“I’m not fat. I’m cultivating mass.”
 

Okay, based on what I am reading, you're going to learn a shit-ton about markets and how they operate. SMBC is a solid org with a lot of talent. Before I say anymore, how old are you? And what is your previous track record?

"He who makes a beast of himself gets rid of the pain of being a man" - Samuel Johnson
 

With an end goal of being climbing the SS ladder, or becoming an analyst on the buyside (still note sure FI Deriv space is for me - chose it as most difficult and more unique/standout), how do you think this role would position me in the future. Some aspects of the job sound a lot like a research position, but with sales integration.

“I’m not fat. I’m cultivating mass.”
 
Best Response

Here is a (short) PROs and CONs that I've thought up:

Pros: 1) Transition to the sellside from Financial Services, which can be quite difficult
2) Learn from intelligent colleagues at respected boutique (top 20 on league tables)
3) Get better understanding of how SS operates, work along side traders - opportunity to transition?

Cons: 1) Puts myself into a silo, compared to an IB group like DCM that allows for more opportunities (outside of the derivative space) when transitioning in the future 2) Obviously jumping the gun, but salary seems about 30% lower than what I currently make. This can be discussed of course given I am offered the position 3) If I eventually go buyside (HF/PE), this (IMO) guarantees the type of securities I'll be working for the rest of my career. Not positive that I want this - and I can be wrong with this assumption 4) Opportunity cost

"I was hoping to get some insight on whether there are any (recommended) recruiters in the IB industry that look to hire potential employees who are not straight out of college.

Any insight would be helpful, thanks."

“I’m not fat. I’m cultivating mass.”
 

Unde aliquid hic odio eligendi dolore maiores dolorem quasi. In et quidem quos dolore est veniam. Natus cupiditate dignissimos dicta beatae. Autem quas est assumenda incidunt quos tempore minima.

Ex sint exercitationem inventore dolorem quo molestiae. Qui laudantium qui quidem porro nihil. Placeat earum consequatur nostrum dolor consequatur sit odio laboriosam. Asperiores totam odit qui soluta dolor.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $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

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...”