Merrill Lynch / Are you in Investment banking or do you know much about it??

Sony

Hi guys

Maybe someone currently working within an Investment Bank would be best to advise on this one.

I am considering moving into an investment bank, An agency has told me they should be able to arrange for an interview with Merrill Lynch which sounds exciting but I was wondering if anyone knew the possible career paths that would be opened up in this type of Company?

I am interested in Investments and market related issues. .

Any advice at all is appreciated.

Cheers

mikemac

I think you'll find that what Merrill Lynch or most but not all international banks do here are back-office activites like settlements, risk management, etc.
It can be interesting and it can be very, very boring.
So if you have an interest to be an Investment Banker then maybe go to London.

Do you know what area you are interested in? There are many, many sectors


Having said that, financial companies are finding it hard to recruit staff so it isn't hard to get a graduate level job, probably easier than IT. You don't even need a recruitment agency to set you up for an interview as you can apply directly.

www.efinancialcareers.ie.
Good website!

Edit: You might be interested in being an equity analyst going by your post thought I don't know your degree or experience.
I'm not shilling this agency, it simply was the top link when I searched irishjobs.ie. Looks fairly interesting

http://www.irishjobs.ie/JobDesc.asp?ID=4706420&MID=3564

justfortherecor

If you're looking to get into front office, London is probably your best option. The dublin based banks are pretty limited in their services and Merrill Lynch only offer settlement (back office) services from their Dublin office that support the work done in London.

Graduate application time is coming around, some banks have probably started already. There's plenty of banks other than ML as well, send off a good few applications if you're interested.

Also make sure you know what you're letting yourself in for: 16hr days, working weekends and taking sh*t from your superiors. Money is good but there is a reason for that!

Also, just in reference to micmclo's post. Getting a job in front office investment banking is certainly a lot harder than getting a job in IT from my own personal experience. You're going to be up against Oxbridge and Ivy League candidates so you really have to stand out.

Arm yourself with a 1:1 degree, good work experience (preferably an internship in a bank), perhaps a language and some good extra curricular activities and you'll be in with a good shout.

Best of Luck!

damnyanks

Most jobs in banks are crap. Merryl lynch use ireland for its tax benefits and thats it. London is the place to be if you are really interested in it. It's competitive - if you don't have any stand out qualities you'll probably need to get in the long way (Through support roles). Working in Ireland will not get you there

Sony

Than you very much for the feedback everyone!

Unfortunatly moving to London is out of the question for several reasons such as my family and girlfriend being here in Dublin.

Actually I dont know a whole lot about the role of an Equity Analyst but Im presuming they do exactly as teir title suggest, This is something that would interest me very much!

I might just go to one or two of them for interviews anyway to see what they have to say.

Thanks again, any further advice appreciated!:D

mikemac

justfortherecor wrote:

Also, just in reference to micmclo's post. Getting a job in front office investment banking is certainly a lot harder than getting a job in IT from my own personal experience. You're going to be up against Oxbridge and Ivy League candidates so you really have to stand out.

Just pointing out that I meant if the OP wanted to work in a fund administrators in Dublin or similar role, then it's not hard for a graduate to get a job.
I agree, it would be much more difficult to get a front office role in London but it can be done.

ixus

Worked in ML in Dublin for a year. Thought it would be a foot in the door to getting a front office role i.e. analyst/trader. This couldn't be further from the truth.

As stated above, it's chiefly settlements, reconciliation and corporate actions/dividends they do here, though there is some middle office work and sales trading in Dublin. Found this work to be a pain in the hole to be honest. Was in a decent team and made some good mates but it's boring beyond belief! You won't get any insight into trading, or why stocks are being bought/sold.

If Dublin's the only option, you should take a closer look at the banks that are here and what job opportunities are on their websites and ask here if you're not sure on the types of roles.

Sony

Thanks ixus

Im working for a life company at present, That does;nt sound encouraging at all about ML. I was thinking along the lines that working in ML would be invaluable experience and help boost my prospects but sounds as though my current job would be a better bet than to move there.

Im not all that concerned about the pay at the moment I just really need to get out of where I am at the moment. Do you know of any other roles that would be suitable in this respect, you sound as though you might know?

Cheers

ps. What Im effectively looking for is some career advice but have obv found that agencies dont give a **** what I want to do and try to mould my thinking into doing what they have to offer! Anyone know where I could get some decent advice?

Thank you:D

damnyanks

If you want to get into equity analysis you're better off looking at the irish banks / stockbrokers. They will have their real operations in Dublin / Ireland.

Any of the large investment banks will be focused on London as it is the finance capital of the world.

A phd is economics would be of great help but isnt a necessity.

sapper

As stated above, if you want a job as an equity analyst ie. someone who is given millions of euros of someones elses money so that you can make them more money - you will need to be someone with serious qualifications (CFA would be helpful) and a serious CV. My company hires equity analyst/front office roles here in Dublin, but for them money is no object and they do not limit themselves by interviewing candidates only from Dublin.

If you want to be in a front office role you might have luck in Dublin as a junior trader (depending on your age/education/experience).