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Northern Europe - DCM
Hi, Really interested in DCM , thinking Northern Europe. What are some ways to prepare for entry level trainee/intern interviews. Apart from technicals, which news events should be focused on: Thinking: * ECB/BOE Issuances * Major Corporate Issuances * Being aware of base Interest Rates * Impact of...
DCM - Lev Fin - Syndicate - Outside Investors
Hi guys, could someone please explain the following. I read online that "DCM focuses on investment-grade bonds that are syndicated and sold to outside investors". I get that Lev Fin is focused on high yield bonds. What does it mean by bonds are syndicated and sold to 'outside investors'. Are bonds...
Project Finance vs Leveraged Finance vs DCM
So the title is a bit clickbait - I completely understand each career has its own merits and each individual enjoys different things. I've been in public finance for about 4 years now. Looking to potentially exit. The lowering spreads, lack of strong analytical work and pitching/RFPs amongst other...
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I NEED HELP
Dear Monkeys, I have been invited to interview at a big bank within their DCM Group. In preparation for the interview they have asked me to answer the question "What would you take under consideration if you were pitching a bond to X Company?". What do they mean by this? Do they want me to come up...
Debt Capital Markets Backend role at a big bank subsidiary
Hey, I'm new to this forum and am extremely confused. I currently work in the compliance department of a large hedge fund and am paid well and stay in a pretty cheap city. I recently got an offer to work with the Debt capital markets team at BofA which is a backend role for DCM Analysts in States....
Barclays NY DCM floor?
Hi, hoping to sent a physical note to a friend that works in Barclays DCM . Anybody know which floor at 745 7th Ave one would find DCM? Thanks.
Graduating in December and trying to break into DCM
Hello WSO , Long time listener, first time caller. I officially joined up after purchasing the interview prep course recently. I currently go to a non target in Canada, where I will be finishing up this December, 2019. I guess my main bona fides are an equity research internship, I just wrote the...
Upcoming SMBC Nikko Securities DCM Interview. Any Information or Advice?
Hi All, I recently got an interview at SMBC Nikko Securities for their Project Finance DCM group. There seems to be a lack of information on this site regarding this firm so any information or advice would be appreciated. Best,
Day in life of a DCM Banker
There is a lot of talk around M&A teams. Would like to know the day in life of a DCM analyst/associate/VP/and MD as there is less information available around this team!
HF or DCM internship?
Hi all, Would like to have a sensing here. I previously did an ER internship with a boutique firm. Always wanted to venture into investment management but I am still open to opportunities. I am looking at my 2nd internship right now and if I have to choose between a boutique HF or a DCM role with...
BB Corp Fin to IB Boutique / Credit Fund
Burner account here... I've been working within Corporate Finance for a BB for ~2 years. It's been a good experience but it's time I go after what I really want and move to the Front Office. Long-term, I want to work in Lev Fin / DCM / MM Credit. I'm infatuated with credit/debt and I'm looking for a...
Transferring from Sales and Trading to DCM
Does anyone have any insight into comparing the learning and exit ops, and career trajectory for someone working in credit in S+T vs DCM? I'm about to start at an American BB in London on their S+T graduate scheme. It's rotational so I will have the chance to explore more desks than I did in my...
What do interns at DCM do?
What are some expectations for interns at DCM groups and what tasks do they typically get assigned to??
IBD Salaries Tier 2 Banks in European offices (Frankfurt, Paris, Milan)
Hello monkeys, does anybody know how much non-BB banks (e.g. European tier 2 banks such as BNP, Credit Agricole, Soc Gen , HSBC) pay in European offices to Analysts and Associates in M&A / DCM /ECM? Is this in line with London (e.g. 50k Euro instead of 50k Sterling) or tend to be significantly...
DCM Path
I'm interested in going into DCM . Yes, I understand that it usually comes with a sacrifice in regards to exit opps. Any insight on whether or not the "path" of going into DCM is any different than it would be for M&A? Tips on internships, target schools, competition, etc. would be helpful.... More...
Difference between bond origination and bond syndication, and additional questions
Hello, I was hoping that someone could shed some light on the differences between bond origination and bond syndication within DCM . As far as I understand it, origination pitches to clients and manages relationships with issuers. Once a mandate has been won, origination will then market the bond...
DCM and LevFin in Canada
Hi guys, I'm really interested in Debt Capital Markets and Leveraged Finance in Canada and I was wondering if you guys could give any insight about it. How big are the teams for each, comp, exit ops, etc? I assume mostly the Big5 banks have teams in Canada, or do BBs in Canada do too? And lastly,...
What is capital markets origination?
Hey guys, I have an interview for Scotiabank 's 'Capital Markets' summer internship . I was originally confused by what they meant by this( ECM / DCM ???) so I shot them an email. They said that "The Capital Markets role, sits within Global Capital Markets within Origination. ". Can anyone care to...
DCM syndication
Hello, I will soon be interviewing for a junior DCM syndication position in London with a European MM bank. To be perfectly honest I don't know an awful lot about the role and I would greatly appreciate any responses to the following questions: * What are the main differences between the DCM...
Capital Markets to PE
I'm looking to gauge the possibility of lateraling to private equity from a capital markets analyst role. I'm sitting on an offer from a BB firm in a non-NY finance city, in which placement would be likely on the DCM side. I figure you have to work pretty hard to overcome the lack of modelling. But...
Made it to a Bulge Bracket Bank
Great news. I finally landed a spot in DCM for the leveraged finance team of a very prestigious BB on the street. I literally started from the bottom, working my way up, and have been working at a mid-size to small boutique firm for the past year and a half. My old firm was super short on staff, so...
Scotiabank ECM Analyst Superday (Toronto)
Hey guys, So a little background about my self. I am recent graduate currently looking for full-time opportunities in investment banking in Toronto. I recently did my first round at Scotiabank for their ECM group and heard back immediately after to attend the superday the following week. I have met...
DCM - On The Job Insights
Hi, I am hoping some experienced folk on this forum could provide me with some deep insights into the DCM world. I have recently just read the Pearl & Rosenbaum book on valuation, it’s very insightful but I feel it is heavily geared towards the Equity related business of banks (IPO’s, M&A...
Credit Analysis Career
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From Associate DCM to M&A/Coverage Analyst - Crazy?
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Debt Capital Markets/IBD Question
Hi All, Long time lurker, infrequent poster here. I was hoping to get some insight as to what a "business analyst" within Debt Capital markets does? It seems like a middle office job working between IT and the FO team? Does anyone have an idea job responsibilities/day to day, hours, exit opps (if...
FIG DCM vs. Corporate DCM differences
Hi, A firm has two openings within DCM right now. One is within FIG and the other is within corporate. I was just wondering if anyone could shed some light on the differences between these two? As the roles are very language specific, I have a fairly good chance of getting to the interview stage if...
How big is DCM/project finance deal team in a large bank?
I work in a very small boutique doing DCM /project finance. On deals (bond issuance) its just me and the MD working on deals, with some help from our in house lawyer to deal with the transaction documentation. Between us we do everything from origination, structuring the debt, modelling (if...
Debt Capital Markets at a Private Consumer Lending Company ??? - Career Advise
UPDATE : This was a stupid question - I was easily able to find the right information with the power of google
DCM or Financial Consulting
Understanding the Investment Banking industry
Hi All! I've been on the forum for a while, haven't contirbuted much and have more-often-than-knot been latently absorbing the knowledge from others. All of this great info has nevertheless left me a bit confused about the industry and the associate level recruiting into it. I am going to be...
DCM - Institutional Loans
Hey- I was wondering whether this group is more interesting than, or the same as other DCM groups. The one I'm referring to is CIBC . I'm sure it would be better to work at Citi DCM or BAML . But generally speaking, will you get more modeling experience than syndications since you're working on...
Lateral to BB DCM
Does anyone have any guidance how I should try to go about lateraling into a BB /balance sheet bank DCM group? Are there headhunters that exclusively recruit for this? Have not had much luck and am desperate at this point. I currently am currently a 3rd year analyst in industrials coverage at a...
DCM Corporate or Financial Institutions
Dear WSO community, I have landed a summer internship in the DCM division . Now I have to choose between DCM corporate or DCM financial institutions. The bank has a little bit better position in the DCM corporate division. Although, I wonder which division would help me more to land a M&A or LevFin...
Got into DCM, now what?
Hi guys (and gals), I ve managed to get a switch from corporate banking to bulge bracket bank (EU) DCM origination team (which I am very happy about). Would anybody have any suggestions on: 1. Any literature which would help me get started? (I was already working on one origination transaction on...
Not a good start to the year - LBO DCM in 2016
Among others, I've been holding my breath for early signs of how the LBO debt market would fare in early 2016. Petco was the deal that a lot of people had their eye on. Pricing on the first lien has come out and signs are not positive. From LCD News: [quote=LCD News]A Citigroup-led arranger group...
DCM: MBS vs Credit Derivatives
Hi everyone, Looking for some advice here, l am currently looking with great interest in a career as a DCM analyst down the road (IG or HY) I am currently working at a big name financial technology company ( think Reuters, Bloomberg, Cap IQ) working in fixed income financial analytics. I wanted to...
Breaking into DCM
Does anybody have any guidance how to lateral into a BB DCM group from MM coverage group? MM is more of an advisory shop. Thanks
DCM fees?
Do corporate debt and municipal debt have different fees? So if Walmart issues $1b in bonds and California does as well, does corporate have a much higher underwriter's discount typically? I know that tax exempt debt has an average fee of $5.50 ish per bond so .55%. Is corporate, on average, more...
Transfering from DCM to Corp Fin vs. climbing CorpFin ladder
Long story short, I'm about to be a senior in college at a non-target and one day want to work in Corp Development for a big company (f500 or close to it). Wanting to hedge my options if the IBD connections I have fizzle out. HYPOTHETICAL Supposing I get an opportunity in the DCM group of a non- BB...
Skills needed to lateral into capital markets ?
DCM vs. FLDP
Interested in doing IB long term (maybe PE at some point, not sure though). Would doing an FLDP at a F500 MM FI or DCM for a BB at a regional office be a better stepping stone to get there?
Introduction - Non-Target D1 Athlete, Entrepreneur, DCM Intern
Hey guys, I've lurked here before and thought I'd finally make an account. This sub-forum doesn't seem to get much traffic, so my long introduction might seem out of place. I'll go ahead anyway though and follow the custom of introducing myself.
Sterne Agee DCM internship or Goldman Sachs operations?
I'm a junior in college making an extremely important decision for my future. I come from a non-target school, and it was a miracle that I got an interview and then an offer from GS in Salt Lake City. On the contrary, Sterne Agee recruits from my school, and the internship is in Birmingham, AL. I...
Career Advice - JPM DCM vs Nomura S&T
I'll keep this short and sweet: You want to be an investor as a long-term career, and say you were given these two hypothetical job offers out of college: 1) Nomura High Yield and Distressed desk analyst - somewhat principal strategies like role where you perform fundamental analysis on different...
How is a manager selection or DCM Associate role post-MBA?
Can they lead to something better or will someone get stuck post-MBA? Can a DCM associate develop the skillset get into a credit fund later on to do fundamental analysis? Assuming that someone missed the boat while during first year and unsure about his/her chances on IBD / ER / AM /etc recruiting,...
MM Lev Fin Coverage Group Vs. DCM
Hello everyone, I have a decision to make to join one of two relatively new groups that have just started at my Bank. I currently work at a non- BB that has a growing presence in the U.S. market as a credit risk analyst for the corporate banking group. I have been offered an associate position for a...
Morgan Stanley Global Capital Markets 1st Round Interview
I have a 1st round interview with this group tomorrow for their 2015 SA Program. In addition to knowing fundamental banking technicals and IPOs , is there anything else that I should be focusing on? Any advice/insight on this would be much appreciated.
DCM or M&A
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