“Help! I have an offer but now I don’t know which group to list as my top choice! Should I go with M&A, LevFin, or pick an industry group instead?”

“I have offers at the M&A group of a lesser-known bank and the Consumer Retail group of a better-known bank – which one do I pick?”

So, how do you pick your group as an investment banking summer analyst (or associate)?

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While there are plenty of day-in-the-life and week-in-the-life stories detailing what you do in investment banking, there’s surprisingly little information on sales & trading.

We started to fix that problem by looking at what you do in fixed income – besides bankrupting your firm and causing the economy to spiral into a bottomless abyss.

This article will continue that thread by telling you all about equities, the second major area within trading.

Once again, Jerry’s the expert and the author here, so direct all questions to him.

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Ok, no more questions about Equity Capital Markets: this one interview with a reader should answer everything on your mind.

We cover how you get in, what the recruiting process is like, what you actually do in capital markets, the culture, and the exit opportunities.

Equity Capital Markets is sometimes labeled Structuring & Origination, and can involve more than just IPOs – for example, underwriting equity derivatives, convertible debt, and hybrid instruments may all fall under the ECM label.

The department also hosts teams for private placements and syndication.

Capital Markets Recruiting

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What is Investment Banking?: Ari Gold: What Bankers Actually Do, Why NOT Do Investment Banking, Why You Work 100 Hours Per Week, The Jack Bauer Guide to Investment Banking Success

Investment Banking Lifestyle: A Day in the Life - Worst Day and Best Day, How to Stay Fit, Investment Banking Lingo Part 1 and Part 2, A Week in the Life (Sunday, Monday, Tuesday, Wednesday, Thursday, Friday, Saturday)

Investment Banking Fashion: Investment Banking Wardrobe for Men, Men's Fashion Basics, How to Pick a Suit, Investment Banking Wardrobe for Women

Breaking into Finance: How to Get an Investment Banking Job, Networking into Investment Banking, Recruiting in a Tough Market, Breaking in from Engineering, Breaking in from Law, Breaking in from the Back Office

Networking: Networking into Investment Banking, Investment Banking Information Sessions, Become a Networking Ninja, How to Network Like Jason Bourne - Podcast, Cold Calling - Podcast, How to Get In From a State School With No Background - Case Study, How to Get In From a Non-Target School With a Low GPA - Case Study

Recruiting in a Down Market: The State of the Market, Check-The-Box-Recruiting to Actual Recruiting, Become a Networking Ninja, Plan B Options, How to Avoid Shooting Yourself in the Foot

Investment Banking Resumes: How to Write an Investment Banking Resume, How Investment Bankers Read Resumes, University Student Investment Banking Resume Template, Investment Banking Cover Letters

Investment Banking Interviews: Investment Banking Interview Guide, The Interview Selection Process, How to Close Your Interviews, Superday Zen: Why Less Is More, Random Interview Selection, Telling Your Story - Part 1, Telling Your Story - Part 2

Summer Internships: Summer Intern Success Guide, How to Dominate Your Summer Internship, Tips from a Former Summer Analyst, What You Do as a Summer Analyst, 10 Summer Internship "Don't's", How Summer Interns Get Full-Time Offers

Investment Banking Salaries: Investment Banking Salaries vs. McDonald's, Why Investment Bankers Make So Much Money, 2008 Analyst Bonuses, 2009 Analyst Bonus Prediction

Private Equity / Buyside Jobs: Private Equity Resumes, Private Equity Interviews, The Myth of the Buyside Job, Headhunters: Friend or Foe?, How to Get a Private Equity Job, How to Tame Recruiters

Specific Groups: UBS LA, Boutiques - 2008, Restructuring, The Back Office, Mergers & Acquisitions, Sales & Trading - Fixed Income, Boutiques - 2009, Why Bankers Dominate Consultants

Investment Banking Regions: Investment Banking Italy, Credit Derivatives in Tokyo, Investment Banking Australia

Business School: Business School Admissions as a Financier, Business School Admissions as a Non-Financier

Quitting Finance & Slacking Off: The Conference Room: How You Get Fired, The Farewell Email, A Day in the Life of a Former Investment Banker, How to Succeed In Investment Banking Without Doing Any Work, How to Have Fun On the Beach

Post & Pre-Layoff Options: Post-Layoff Options, Timing the Market Is BAD, How to Become a Ski Bum