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Investment banks perform a variety of services which includes underwriting, acting as a medium between an issuer of securities and the investing public, facilitating mergers and acquisitions, and acting as a broker for institutional clients. Some famous I-banks: Goldman Sachs, Morgan Stanley, Merrill Lynch, CSFB and Citigroup (also a commercial bank). The possible careers in these field are:
Corporate finance:
Analyst
He is at the bottom ladder of the I-bank. His duty involves financial modeling and helping the team by doing various tasks. Often work very long hours, which requires a good physical condition and an ability to work under stress and meet deadlines.
Associate
He deals more with client, usually prepares financial pitches and manages the analysts. The position requires very good communication skills and analytical skills, and is also very demanding in terms of working hours and stress.
Vice president
Becoming vice president is the first step in becoming a senior investment banker. The position involves the management of the financial modeling pitch book production process, and the client relationship. The VP often participates in road shows and gets to continually meet clients. The job is very demanding in terms of responsibilities but is very rewarding and the working hours are significantly less than that of analysts or associates.
Managing director
He deal with the clients at the highest level, creates and maintain relationships with various companies in order to generate corporate finance business for the firm. Basically, they are responsible for bringing new deals.
The job demands very good leadership, communication and management skills.
The salaries already big are topped by enormous bonuses.
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