Investment Banking

A DAY IN THE LIFE

Before business school I worked…
at a consulting firm. Associates in my class came from backgrounds as diverse as the military, accounting, fashion, professional sports, finance and technology.

I chose Morgan Stanley to launch my post-graduate career because…
it’s a leader in global financial services, and a name that’s regularly at the top of the banking league tables. I wanted the chance to work on market-shaping transactions alongside colleagues who are known in the business—who act as advisors not only to companies, but also to the U.S. government, as they did during the financial crisis. A lot of the Managing Directors I met started their careers in the Associate pool, and they still use the network they built at that time.

As an Investment Banking Associate…
my first year was spent as a sector generalist.  As someone changing careers, I liked the idea of working with several industry groups and then deciding what was the best fit for me long-term. I needed to possess energy, analytical ability, attention to detail and communication skills when I first started, but I was taught on the job about financial concepts and products, and how to navigate the Firm. I did not have a background in finance, but I found that five weeks of classroom training at the start of the Associate Program, combined with the culture of mentorship, helped me to learn quickly. In the last week I’ve been in small meetings that included a global industry group head, a regional chairman, and a member of Firm Management. Exposure to these people is an incredible way to learn the business from the top down, complementing the daily learning from the ground up.

My role on the team…
centers on the deal team to which I’m assigned.  I participate in discussions with senior team members about the direction of an idea we’ll be presenting to a client. I work with an Analyst to develop the analysis and its presentation. Once we’re hired by the client, the team relies on me for managing the workflow, which includes many facets: communicating with clients and the team, guiding Analysts on their financial modeling, drafting transaction documents, delegating and supervising tasks, and keeping the deal on track. I might find myself looking at new research on the sector, following up with a client on this week's action list for a live transaction, checking an Analyst's work on a leverage buyout model, drafting an offer letter for an approach to a public company, flying to a client meeting with executives to assist with management presentations, interviewing a recruiting candidate, or negotiating with advisors on the other side of a deal. I have to manage the process efficiently while being flexible and building relationships.

My greatest achievement at Morgan Stanley so far…
came after only a few months on the job, when I was responsible for the due diligence process of a sell-side transaction and became the contact for several bidders. I sat at a table with the CEO and CFO of a company, discussing the possible structure and next steps of a sell-side process. When the transaction was announced after months of work, it was very rewarding to read about it in the newspaper.