why people make fun of ECM that much?
hey guys just wondering why people who generally work in finance specially in IBD always like to make fun of the ECM division? would really like to know
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I work in ECM. Within the industry, I haven’t gotten any shit for it. I think most of the people who make fun of it are either 1. prospects who haven’t broken into the industry yet, or 2. people who are mega fund or bust type people. If banking is just a check mark for your life plan, then of course you’ll hate on ecm because it doesn’t align with your goals.
Sure, I don’t model and I don’t have fantastic exit ops but I’m still making the same base and the lifestyle is better. It’s just a trade off and a different life path.
Hating a specific industry or degrading it just doesn’t get you very far. I went to school with this guy who makes random Minecraft videos, the dude is pulling in mid 6 figures for daily videos. People hate on tech on this website but some of those people have real sweet gigs as well. This girl vlogs once a month at my ivy and made in a year of college then I’ll make in my 2 analyst years.
agree with you a 100%. I am actually interested in ECM if you have any tips on how to make yourself better suited in landing an offer I would really appreciate in getting advice from someone in the industry. Thanks in advance
I think getting an offer is pretty standard hoops you have to jump through - 3.8+ GPA and internships.
I got my ib offer first and ecm through group placement (I don’t think it was super competitive but I def lucked out because the equity market is on fire and my bank has never had this many ipos/secondaries and privates going on.
Be aware of what’s happening in the equity market (you can just look at who’s ringing the bell on the nyse stories and pick ones that are going public) and the types of companies going public (ex: in consumer it’s lots of high grow companies). And then look if ipos are trading up or down.
Then pick a couple of deals in a sector you find interesting and read the first few pages of the prospectus or 424b. If you google 424b4 one of the first results should be latest filings and just click on one you find interesting. Then figure out what multiple it priced at, the range, file to offer, file to one-day, the primary/secondary split, and what multiple it’s peers trade at.
I didn’t get asked any ecm specific questions so I could be way off but these are the types of things my mds are reaching out to clients about so if you can speak intelligently about general trends you’ll probably be good.
Finally, if the spac team sits within ecm at a bank you’re talking to, make sure you know a bit about spacs.
What type bank are you at and what are your hours? I’m in coverage now but would love to make the switch at some point.
8-10pm (unless there’s a go/no go call, sometimes those are at 5am. I take those from my bed lol) I’ve got about 4 hours of weekend work as well.
Feel like youtube is playing the lottery. some will hit the jackpot.
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