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 不太喜欢现在的投行工作，想听听sapientaf和大伙的建议 |
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不太喜欢现在的投行工作，想听听sapientaf和大伙的建议 -- mindopen - (367 Byte) 2006-12-22 周五, 09:56 (3256 reads) |
Xiaomaomao
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头衔: 海归中校
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加入时间: 2005/11/21
文章: 161
来自: New York, U.S.A.
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作者：Xiaomaomao 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
1. "equity derivatives (structures, not trading)" from your post is a sell side job
If you are talking about equity derivatives structuring, that is a sell side job in the front office (meaning you need to interact with corporate clients directly).
In most banks, equity drivatives group is part of the Equity Capital Markets (ECM). Equity drivatives structurers usually go out with investment banking people (industry coverage/relationship bankers) to pitch equity drivatives deals to clients. Once the bank receives mandate, they will line up investors (mostly hedge funds, priviate equity firms and other institutional investors) through private placement, determine the price, negotiate the transaction terms and close the deal. The company pays them fee for structuring the deal and raising funds from investors.
There are various type of equity derivatives, convertibles, puts, calls... the market is booming in Asia. Because most equity derivatives deals are done through private placement, they don't get headline exposure, so most people won't know them. A number of Chinese companies finance them through equity derivatives transactions before they are ready for IPO.
This job requires good understandings of the products, excellent oral communication skills and relationship management skill.
2. "equity investment" from your post is a buy side job
My understanding is most people start as equity analysts (either fundamental or quantitative), some people then move on to become portforlio managers. I also know some traders became portforlio managers.
This job requires excellent analytical skills, good understandings of certain industry and great written communication skills (for fundamental) or quant skills .
3. "Risk Managment" is a middle office (or back office) job. Unless you have passion for that, it is probably not the most exciting job, 'cause you won't become the rain maker for the bank... Money talks in investment banks
作者：Xiaomaomao 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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