Independent work prepared by: matmurodov elmurod

Execution
Origination

Sales & Trading/Markets/Securities

Trading
Research
Typical Sales & Trading Division

• Execute trades on behalf of investor clients (“flow”) or the firm (proprietary or “prop”)

• Help salespeople and traders and also sell independent research to investors
• Fixed income, equity or macro (“strategy”)

Sales

• Sell financial products to investors
• Specialize by product/ geography / industry

Structuring

• Develop bespoke financial products/ derivatives to meet a client’s specific risk management or investment needs

Title	# of Years	Notes
Analyst	3 years	Formal Grad. programme (class size 100’s) Up or out (especially IBD) Skills developed: Presentations, Analysis, Admin
Associate	3-4 years	Formal Grad. Prog. usually MBA (class size 10’s) Analyst promotions, Summer intern hires, Lateral hires Up or out Skills developed: managing analysts’ work and content development
Vice President	2-4 years	Project manager Skills developed: client development/marketing
Executive Director	2-5 years	Transition from project manger to bringing in new business
Managing Director	NA	“Rainmaker” (client development, accountability on strategic deal decisions)

Investment Banking – Career Ladder

IBD Core Competencies

• Quantitative Skills
• Physical stamina and endurance
• Project Management
• Motivation and career drive
• Analytical – intellectually stimulated by solving problems
• Humility / Confidence
• Comms. – can prepare pitch books, present to clients, work with multi-product, multi-cultural teams
• Excellent attention to detail