What do you EXACTLY do in ECM?
I have been interviewing with a BB (GS, JPM, MS) for an ECM associate role and I am still not completely clear about the exact responsibilities that ECM have vs. IBD. I am currently working at a boutique and we don’t have the same structure and division of responsibilities.
I have asked the question to several of the interviewers and got slightly contradictory and vague answers and didn’t want to push too much.
Specifically, do they actually lead execution? Do they run transaction meetings (eg weekly calls and drafting meetings)? Assume there is no modelling at all? Do they lead on the workstreams relating to legal docs (prospectus, underwriting agreements, etc.)? Do they have any meaningful input on the roadshow presentation? Do they have strong relationships with issuers or is that dominated by the sector groups? Do they actually source deals or is it mostly sector bankers who do that?
People with no meaningful banking experience (
"People with no meaningful banking experience (ECM experience is literally 1000x smarter than you on the subject. Setting the threshold at 2 years? Get the fuck outta here.
Apologies if that was offensive but there is a lot of misinformation in this forum and honestly I want to know what associates do so an analyst with 1 month experience will probably have strong views but little experience and want to avoid being misled.
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