Saturday, April 28, 2007

Investment Banking Career – Entry Level Jobs II

Analysts and Research

Which Division in An Investment Bank Needs Analysts?

Investment banks do a lot of research work. Hence analysts are required by many divisions, such as Equities, FI, AM, ECM, IB, FX etc. Among all, Equities has the most need for analysts. Let’s look at my most admired bulge bracket Goldman Sachs. We’ll try to understand how their equities department is structured, what kind of entry level jobs is available and what kind of candidates they look for.

Quotes from Goldman Sachs:
To work as a member of the Goldman Sachs Equities division, a degree in economics or finance is not essential – energy, enthusiasm, creativity and a commitment to teamwork are. Read more.

As a member of the Equities team, you need to have a certain comfort with numbers, but you do not need to be a finance expert. We can train you to do the necessary calculations. Read more.

Meet Some Entry Level Analysts at Various Investment Banks

Nicole from Goldman Sachs, Frankfurt
Nicole is an analyst at the Equities division of Goldman Sachs in Frankfurt. Let’s see how she describes her daily work.

Fiona from Deutsche Bank, New York
Fiona joined Deutsche Bank through U Penn's recruiting services. She’s an analyst at the Asset Management Division in New York. Let’s see her work, her background and how she became an analyst.

Ronald from Morgan Stanley, New York
Ronald is an analyst at the investment banking division. He started as a summer intern and subsequently being hired in 2003. Let’s see how Ronald describes his work and Morgan Stanley’s mentorship program.

Jennifer from UBS, London
Jennifer had a summer internship with Equity Research in 2002 and was subsequently hired in 2004. Here’s what she says about her daily work.

What I do today: I am a member of the Asset Allocation team within Economic Research. We maintain a model investment portfolio of different equity and fixed income asset classes. My job involves writing research contributions on the most appropriate weighting of various assets. A weekly research publication for portfolio managers aggregates our current views and recommendations. Other responsibilities include making charts and dealing with data requests. It’s not all number crunching though: I also talk to our analysts to get their views. I’m fortunate to be surrounded by highly intelligent and informed people. We hold challenging discussions every day. I also get to do something I find interesting and apply my degree. Source: UBS

Meet more graduates at UBS

In my experience, many candidates’ first full time job was actually where you had their internship. Make sure you look for an appropriate opportunity that suits your interest and capability, even it is an internship job.

Answer to My Previous Question
Which of the following is NOT a component of the Dow Jones Industrial?
A: McDonald’s
B: Walt Disney
C: Pepsi Cola
D: Procter & Gamble

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Investment banking career

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