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Questions about investment banking watch

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    I have searched these forums for the answers but to no avail...

    Do u work a full calender week or a working week? In the case of a working week, is it normal for you to be in the office on a sat or sun finishing a report or a project etc??

    What are the holidays like? When and for how long? Is it likely that if you are on holiday you will go into the office to complete projects etc, are you liable to be called by ur employer to come into the office when you are on holiday?

    How critical is attendence and/or punctuality in investment banking?

    When is the likely time period after employment that you jop posistion will be considered

    How long does it take for you to get promoted? (what is the hierarchy? what does a more senior position in the firm do compared to a more junior position, is it just that you deal with more big money deals etc etc)

    After your degree, how long does it take for you to become employed by an investment bank?

    How secure is your job? will it take 1 bad move (large scale) before u get sacked or will u be given a few chances?

    (For people with experience in IB) Is work hectic?? Ive heard all this malarky about long hours but is it relatively peaceful or is it both hectic with long hours??

    How many years realisticly will you be in investment banking, does this differ for different division within the investment bank??

    What are the downsides to investment banking bar the long hours?

    What do most people tend to do after invesment banking??

    What differs between to top banks (top 4 ,5 or 6)? Which bank is regarded to be the best if that is right word?

    Will you be always based in your office, any possibilities to work from home or could you be sent abroad??

    How vital is it that you have a second language (usable language, not mother tongue)?

    How are the working conditions? Is it very competitive (ie rivalry between collegues) or does everyone work together (within limits)?

    (For thos experienced) If youve worked with an investment bank before, how do you feel when you work? Are you in contact with your seniors or are you a little fish in a big pond??

    (For those who have undertaken internships, or insight weeks etc and then gone into investment banking) How useful were these internships or insight weeks in deciding wheter you wanted to become an investment banker? Also how related were the activities that you did at these internships etc to actual investment banking??

    What are the perks of the job (both monetary and other lol, such as feelings, skills gained, networking possibilities etc etc)




    Thanks for your times I would be very grateful if you could answer these questions. Please if you dont know or have a very large element of doubt in your answers please dont answer as I do not wanna be mislead, thanks in advance.
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    1. M&A, DCM, ECM often work weekends, Sales&Trading nearly always weekdays only.
    2. 4-5 weeks/yr to start off with, but depends on your desk whether you are able to take them in full or not. Possible to be called back from holiday in Corporate Finance, unlikely in Sales&Trading.
    3. Extremely.
    5. See other threads here, it varies largely by bank and individual as it's performance related, but typically one spends 2-3 years in each of the junior positions (Analyst --> Associate --> Vice President). More senior people are have an additional management/strategy responsibility, and may be involved in higher-volume transactions.
    6. People finish their degree in May-June (September for some 1yr Masters); IB graduate programmes begin in July-September normally, though some have November, February etc intakes.
    7. Depends on specific bank/desk.
    8. Depends completely on the desk. In general, Sales&Trading is more hectic with shorter hours (60 hours a week on average across fixed income and equities), Corporate Finance a lot quieter with almost double the hours.
    11. For Sales&Trading it's common to go to the "Buy Side" - asset management or hedge funds. Many people do something completely different like teaching or not-for-profit organisations.
    13. Plenty of opportunities to be sent abroad in the client-facing roles. With some middle/back-office tasks it's possible to work from home on spreadsheets.
    14. Extremely useful, by no means essential.
    15. I've actually seen really good teamwork, people helping each other out all the time, but I'm sure petty politics exist elsewhere.
    16. In contact with seniors all the time.
    17. Completely essential in deciding whether or not you want to do IB - an 8-12 week period is sufficient to know whether it's for you or not. For me it made me certain I wanted to do it over media and law. Others I know who'd wanted to do M&A since 6th form afterwards knew it was the last thing in the world for them.
    18. Everything - great friends, great city life.
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    Too lazy late to add too much... but would say that the top 4/5/6 banks depends on division and desk.
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    (Original post by President_Ben)
    Too lazy late to add too much... but would say that the top 4/5/6 banks depends on division and desk.
    Whatabout for IBD and trading (front office)?
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    (Original post by jeffreyweingard)
    Whatabout for IBD and trading (front office)?
    depends on division and desk
    To be honest, when you're just starting off, you just want banks with a good name because most of the desks are good.

    But if you're dying to just do interest rate swaps by special delivery vehicles with high credit rated European companies, apparently, Deutsche Bank is pretty good at it. If however you want to do refinancing for Norweigian oil platforms in the North Sea, I hear UBS have quite a good desk there

    The bulge bracket, loosely are say...

    Americans: Goldman, Merrill, Morgan, JP, Citi, Lehman
    Europeans: Deutsche, UBS (Credit Suisse, sort of - and BarCap for what they do)

    Make your own mind up with your own research when it comes to division by desk...
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    thanks for ur help, appreciated
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    Good choice of questions -- very informative answers :yy:
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    (Original post by Chassez)
    1. M&A, DCM, ECM often work weekends.
    By weekends, do you mean Sat only or both Sat and Sun? Are the hours shorter on weekends?
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    Weekends means Saturday and Sunday.

    Hours might be a little shorter on the Sunday. But if work demands you work 16 hours on a Sunday, you do.
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    The classic phrase from the IBD:
    "If you don't make it in on Saturday, don't bother coming in on Sunday".
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    (Original post by Olek)
    The classic phrase from the IBD:
    "If you don't make it in on Saturday, don't bother coming in on Sunday".
    So true.
 
 
 
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