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Investment Banking Operations - Good Experience?

 
#1 Investment Banking Operations - Good Experience?
04/02/2009 17:19

Mouse.A

How useful would experience within the operations division of an investment bank be as a stepping-stone to strategy consulting?

Bearing in mind I enquire for about experience procured at a very junior level, say either as a graduate or an intern, would it be any more valuable to be working within a front office division?

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#2 RE: Investment Banking Operations - Good Experience?
04/02/2009 17:20

Ronald McDonald to Mouse.A (#1)

Hi,

Do you know that McDonalds are recruiting? You'd learn more there.

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#3 RE: Investment Banking Operations - Good Experience?
04/02/2009 17:22

Mouse.A to Ronald McDonald (#2)

Nice, anything useful to say?

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#4 RE: Investment Banking Operations - Good Experience?
04/02/2009 17:30

Olivier to Mouse.A (#1)

Strategy consultancies - including big names such as McKinsey - also have operations practices. You could try to target them.

However I think they recruit experienced people, especially now.

Also I don't know what are your chances to move to the real strategy projects, once you've joined the ops practice.

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#5 RE: Investment Banking Operations - Good Experience?
04/02/2009 17:41

Mouse.A to Olivier (#4)

Thanks Olivier, while I realize that applying directly to the Consultancy industry is an option, at the junior levels it seems to be very difficult to obtain any experience.

Most firms I have spoken with generally prefer to hire advanced degree holders onto their internship and, in some cases, even graduate programmes.

I suppose the question I should have asked is IB Ops or IB Corp. Finance/M&A as an Intern or Grad. would it make a difference?

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#6 RE: Investment Banking Operations - Good Experience?
04/02/2009 18:14

Anon to Mouse.A (#5)

"How useful would experience within the operations division of an investment bank be as a stepping-stone to strategy consulting?"

Probably about as useful as a chocolate teapot. Operations within IB is a lot of manual work i.e. checking things are in order, and as far as I'm aware not related to the Operational type work carried out in consulting.

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#7 RE: Investment Banking Operations - Good Experience?
04/02/2009 18:38

Mouse.A to Anon (#6)

From what I know there are two sides, while trade processing/execution is one side, it tends also to be the "change" division of the bank which is about streamlining and process management.

Chocolate teapot lined with ceramic perhaps?

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#8 RE: Investment Banking Operations - Good Experience?
04/02/2009 23:21

J to Mouse.A (#7)

Change in the sense of the "internal consultancy" functions tend to fall in a different part of the bank (HO/corporate functions). However, some banks include IT operations within "operations", which can include "IT change" roles - which is more about maintaining the change controls for ongoing systems.

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