《《投资银行面试必备Investment Banking》.pdf

Ross Career Services Investment Banking, Sales and Trading Career Path: and Private Banking – MBA Version Introduction Ross Career Services (RCS) created the Career Path series to assist students with the career search process. Each Career Path handout examines a common business functional area in which Stephen M. Ross School of Business graduates pursue jobs each year. The first four steps of RCS’s recommended career search process are detailed for each specific business field. Investment Banking Overview The primary focus of this guide is to familiarize you with the investment banking career search. Much of the information also applies to those interested in research and sales & trading careers, although there are many aspects of sales and trading that are not covered here. Some of the information presented has been pulled from A Comprehensive Guide to the Investment Banking Job Search written by Joseph Hyde, BBA 1996. The complete text written by Hyde can be found at the end of this handout, and gives additional information on the function of investment banks. The business of most large investment banks can generally be divided into two categories: Investment Banking (sometimes referred to as Corporate Finance) and Sales & Trading. Investment Banking divisions are involved in debt and equity capital raising, financial advisory services (including mergers and acquisitions) and occasionally merchant banking activities, while Sales & Trading divisions engage in the research, brokerage and distribution of securities. In many transactions, both are required, for example, while Investment Banking may convince a corporation to use the investment bank to underwrite their bonds, it is Sales & Trading who actually finds investors for these bonds. Investment banks generally work with four client groups: corporations, municipalities (governme