| Topic Name: |
Which Has More Prestige? |
| Message Name: |
yes be prepared... |
| Date Posted: |
05/27/2000 |
| In Reply To: |
S&T people can't spot a trend?
The trend, dear friend, is an enormous evacuation of every bank's corporate finance department. The hours are horrible and IB is in as much danger from technology as S&T is!
Gross underwriting spreads are shrinking, competition is fierce, and DPOs and other ways of raising capital are making people question whether they should really be paying such a premium to the name brand banks.
Corp Fin is NOT immune from the effects of technology AT ALL.
If you are going into S&T, don't worry. You'll likely make very good money, though you should be prepared to serve many functions in the bank. The functional roles may change as technology advances.
Another point: It is no longer the case that S&T departments are full of the second rate b-school grads while IB has the elite. S&T is every bit as selective now. Your colleagues will be incredible, your connections will be powerful, and trust me if you need to find another finance job you'll do very well.
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| Message: |
yes, you should be prepared to serve many functions in the bank, so that when they tell you that you can either move into operations or hit the street you won't be disappointed!
Bid-ask spreads are tightening a lot more than underwriting and advisory fees jacka**!
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