Intro to Investment Banking

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jeanskip

Liar's Poker is a must read if ever you care to become a trader...
the book is a really great perspective of wall street in the 1980s

Glad to see someone couldn't even be bothered to read the first post in the thread then.

Reply 81

silly.animal

What's typical intern pay?

Reply 82

PortfolioManager

silly.animal

What's typical intern pay?

20 quid I think.

Reply 83

silly.animal

PortfolioManager

20 quid I think.

really. i thought it would be less than that

Reply 84

Singh_87

Crushed.Ice

Is it true that IB's tend to work on M&A's valued above $150 million and those less are carried out by accountancy firms?

I don't think there is a defined threshold, I may be wrong, but it is true that IB's generally work on much much bigger than deals than the Big 4 or any other accountancy firm would.

Reply 85

PortfolioManager

Crushed.Ice

Is it true that IB's tend to work on M&A's valued above $150 million and those less are carried out by accountancy firms?

You do get the Big ""Fours"" doing an occasional big deal here and there, but they work on mid market M&A deals which are below 150-200 million. IBs are actually 'choosy' over what deals they work on as many companies, etc. approach them for advisory but because their teams are so small they cannot do all potential deals.

kuchi kuchi dada.

Reply 86

ExRx123

Thanks, that was a really good read!

Reply 87

adamwaszkie

hey guys

I am also new to investment banking and the financial markets

As such I was hoping that someone may be able to list, say the top 20 Investment banks with offices in London so that I can research the respective companies further

many thanks

:penguin:

Reply 88

fblade

adamwaszkie

A simple Google search of 'top 20 investment banks', gives this: http://www.prnewswire.co.uk/cgi/news/release?id=141336

Like loads of other people have said, do some research.

(BTW I clicked on the first hit that came up)

Reply 89

jhjh24790

Is it essential to go to a top 5 university in order to get a job in IB? Or can it be done by getting a degree at another Uni? Would someone with a degree in Accounting and Finance at Nottingham be able to get a job in IB?

Reply 90

bally

No. And yes you can get in. I know people with degrees from UTS who went into IB. But they went to a BIG4 first.

Reply 91

Singh_87

jhjh24790

It's all about creating the best possible chance for yourself. IB's do not solely (or atleast not all of them) recruit from only the Top 6 (Oxbridge, LSE, Imperial, Warwick and UCL), but the highest intake is from these 6 universities.

Reply 92

academic

What's the difference between asset management and wealth management?

Reply 93

Knogle

academic

What's the difference between asset management and wealth management?

They share many similarities (e.g. unleveraged, may be advisory or discretionary, etc). From Wikipedia (first link on Google):-

The term asset management is often used to refer to the investment management of collective investments, whilst the more generic fund management may refer to all forms of institutional investment as well as investment management for private investors. Investment managers who specialize in advisory or discretionary management on behalf of (normally wealthy) private investors may often refer to their services as wealth management or portfolio management often within the context of so-called "private banking".

Reply 94

President_Ben

Someone in this thread, long ago, asked what was wrong with the Vault.

It is corporate backed, jingoistic BS where any sense of negative is mercilessly extracted and wiped clean from history for fear of losing money.

The Vault has no crediblity - so while it provides some information, it is a dangerously incomplete picture because of systematic bias. Provided you get a full picture from all sorts of places, the Vault does have some tid bits that are worth it.

But whatever you do, definitely do not buy into the idea that the Vault is in some sense comprehensive or all you will need.

Reply 95

simon123

President_Ben

Thanks for this, what other books would you recommend as giving a good insight into IB division and research?

Reply 96

Redeyejedi

Monkey Business, Liars Poker, Barbarians at the Gate and When Genius Failed: The Rise and Fall of Long Term Capital Management are pretty interesting reads...not so much Liars Poker IMHO, but the rest are entertaining, give you a decent insight into banking, without being arduous or overly technical, to the point of making the book unreadable for a lay-person.

I think there is a thread on books specifically somewhere on decent books to read.

Reply 97

President_Ben

Redeyejedi

But you have to get out and away from those laid back reads which gloss over the details of the job.

I've actually asked elsewhere if there are more effective and frankly - non-book based - ways to determining suitability for a role.

I could ask someone to read books of the order of Taleb, Hull, Fabozzi, Natenberg... and they'd give an honest picture of the process in getting really into your markets products by teaching you what the things are how they are used. The step above that being sat down in a market and putting up your prices.

Reply 98

lea164

OK I’m panicking. I just got an interview for a FX & Bullion Middle Office Clerk, and I have no idea about investment banking :s-smilie:

. I'm currently reading about the company and planning on looking on wikipedia for more info about IB, has anyone else got any tips, websites or newspapers I should look at before the interview so that I'm not completely in the dark! Thanks.

Reply 99

President_Ben

Is there such a thing as a Middle Office clerk? Clerks are back office...

Anyway, you're going to learn about the company far sooner than you'll learn about banking so I'd take that direction.

And as a clerk, you don't actually need to know anything either.