Careers in Investment Banking,2005 Edition: WetFeet Insider by WetFeet

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By WetFeet

Operating in funding banking is a smart strategy to study the fine details of company finance and strengthen analytical abilities that might turn out helpful all through a company occupation. This renowned WetFeet Insider advisor explores what operating in an funding financial institution is actually like; the possibilities for undergrads and MBAs; profiles of best funding banks; and the most recent tendencies.

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26 Research Every full-service investment bank has a research department that provides analytical support for investment banking, sales, and trading activities. Research The Industry may seem a lot less glamorous than some of the other departments, but these analysts’ industry knowledge can often be the most important factor in winning a new CorpFin client or convincing Fidelity to buy shares in an unknown company’s IPO. Investment banks regularly lose and gain business as a result of the annual rankings of research analysts that come out in Institutional Investor magazine.

Reports vary, but some say employment levels were 25 percent lower in 2003 than they were at their peak. At the same time, I-banking bonuses, which can account for half or more of some employees’ total annual compensation, fell by 50 percent and then some. But things are looking up today, in mid-2004. The economy is adding jobs. The stock market is up. Businesses are spending money again. More companies are going public. More companies are spending money to acquire other companies. Emerging markets like China promise vast new banking opportunities.

The number’s lower than expected! Immediately, most of the phones in front of you are ringing, with (you know) sell orders for the companies you trade. You say good-bye to your buddy, smile to yourself, and pick up a phone, knowing that as the market for timber stocks tumbles you’ll be able to close out your short position at a sizeable profit for the firm—and a sizeable positive impact on your bonus. Job tips. On the trading floor of an exchange, the action never stops while the market is in session.

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