IB Essential Knowledge

ECM (Equity Capital Market) VS IBD, Insider Tips & Exit Strategies

ECM sits at the cusp of investment banking and S&T to advise clients on raising equity capital, equity issuance, execution, and syndication.

As an ECM Analyst, you work on IPOs and other deals like FPOs, convertible bonds, book building, and derivatives trading. You'll aid roadshows, client pitching, liaise with traders and IBD (for pricing securities or valuation/ modeling). Less analytical, more qualitative.

ECM vs IBD: IBD makes the products that ECM pitches to investors. It focuses only on equity deals instead of debt or M&A, working across various sectors rather than focusing on just one.

To ECM or Not: If a fat paycheck sans the unholy hours of IBD appeals to you, sure! You can't exit to PE, but can join investor relations across healthcare, tech, consumer/ retail), including hedge funds, or other buy-side firms for fundraising.

 

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