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General qestions about IB

A

Alex1

New member
Aug
8
0
Where is the most money in IB (i.e. What division)? Is it easier to get into M&A than any other division?

I read up about "spring into banking" at Deutsche bank where they give you an introduction to all aspects of ib - which would be great to learn about, but then I'd have to know the industry well to get the spot? So surely it's a bit pointless (although obviously it looks good on a CV)

I was part of the school basketball team at sixth form (i was terrible) - do you think I could still include this as an EC even though I will drop it at uni?
 
Where is the most money in IB (i.e. What division)? Is it easier to get into M&A than any other division?
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In an investment bank, front office (trading/banking) roles pay the most - lot better than middle office (let alone back office) especially in the long run. But other than this - there's a guy I know who worked in MO at a BB and now off to a quant firm making triple as much as junior traders/bankers - you see you can't generalize.

Also you shouldn't base your decision on "where is the most money in IB".

I read up about "spring into banking" at Deutsche bank where they give you an introduction to all aspects of ib - which would be great to learn about, but then I'd have to know the industry well to get the spot? So surely it's a bit pointless (although obviously it looks good on a CV)
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Spring weeks being "a bit pointless".

First, not only Deutsche's spring internships is like that, every other spring week is supposed to give the same: network, an insight into different roles/divisons (well unless it's divisional), and a possible fast-track to summer internships next year.

Second, you can learn some of the stuff online, sure - but basically, you'll learn everything on the job. The main point of technical interviews is to show you really have an interest in this (you obviously don't need to know everything about the industry, but you need a solid awareness of it): for instance, if you are applying for banking and you don't know what's a DCF model that certainly raises a red flag - same if you'd be applying for trading but wouldn't know what's a call option.

I was part of the school basketball team at sixth form (i was terrible) - do you think I could still include this as an EC even though I will drop it at uni?
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Haha simply being a part of the school basketball team is an interest in basketball at best - not an EC. Put it down if you want.
 
lofaszjoska said:
In an investment bank, front office (trading/banking) roles pay the most - lot better than middle office (let alone back office) especially in the long run. But other than this - there's a guy I know who worked in MO at a BB and now off to a quant firm making triple as much as junior traders/bankers - you see you can't generalize.

Also you shouldn't base your decision on "where is the most money in IB".


Spring weeks being "a bit pointless".

First, not only Deutsche's spring internships is like that, every other spring week is supposed to give the same: network, an insight into different roles/divisons (well unless it's divisional), and a possible fast-track to summer internships next year.

Second, you can learn some of the stuff online, sure - but basically, you'll learn everything on the job. The main point of technical interviews is to show you really have an interest in this (you obviously don't need to know everything about the industry, but you need a solid awareness of it): for instance, if you are applying for banking and you don't know what's a DCF model that certainly raises a red flag - same if you'd be applying for trading but wouldn't know what's a call option.


Haha simply being a part of the school basketball team is an interest in basketball at best - not an EC. Put it down if you want.
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Why isn't being part of the basketball team not an EC? I thought that it showed good team working and communication skills?
 
Alex said:
Why isn't being part of the basketball team not an EC? I thought that it showed good team working and communication skills?
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He means in the sense that you're not playing at local/national level or something - but leave it on, it shows all those things you mentioned. Milk it for all you can get.
 
Mr. Exclusive said:
He means in the sense that you're not playing at local/national level or something - but leave it on, it shows all those things you mentioned. Milk it for all you can get.
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Ok thanks for the advice. Hopefully at University I can join a few more related societies: Debating Union, Economics and Finanace - M&A society and the Television filming group (showing teamwork, and communication with producers, directors and presenting). What other societies look good?
 
Alex said:
Ok thanks for the advice. Hopefully at University I can join a few more related societies: Debating Union, Economics and Finanace - M&A society and the Television filming group (showing teamwork, and communication with producers, directors and presenting). What other societies look good?
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Any society outside the stereotypical ones look good. Everyone will have finance society. But try get into a leadership position on any of them. Also sports always look slightly different.
 
Oh dear Zeus no. Please don't joint a society because it looks good.

I assume you are human, correct? You have interests, no? Find your interests in campus and invest in yourself. Being a part of a finance society is not path to ticking the 'interest in finance' box. Being an apt poker player (if you are one..I'm not saying start gambling your savings) speak more volumes than being a part of the finance society.
 
Paul Allen said:
Oh dear Zeus no. Please don't joint a society because it looks good.

I assume you are human, correct? You have interests, no? Find your interests in campus and invest in yourself. Being a part of a finance society is not path to ticking the 'interest in finance' box. Being an apt poker player (if you are one..I'm not saying start gambling your savings) speak more volumes than being a part of the finance society.
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Hi,

I'm looking into writing a good CV for an IB or any other financial organisation. In terms of experience, having just left Sixth Form and spent all of my memorable life studying, I've never had a formal job. For spring week applications, they open in about January - I'm worried about this lack of experience.

I have attended an insight day at Ernst and Young, so I'm thinking this is worth mentioning? Although it wasn't related to IB, I attended meetings, presented and created a presentation within a time limit, met clients and offered business advice.

Apart from that I've never had any experience with ib - is that abnormal? Where I live (up north) the only experience people have had my age is as a sales assistant etc. Apart from that I've done non financial work experience at my local University IT department (i.e. fixing the computers) and at a local newspaper (I had to write articles to a strict deadline). I'm guessing my employment and experience section is very weak?
 
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