Investment Banking/Investment Management
Students interested in Investment Banking might begin their career in the CFO’s or Treasurer’s office or with placement at one of the Wall Street investment banks. Responsibilities may include: analysis of foreign exchange and interest rate hedging strategies, valuation of potential acquisitions (for outright purchase or equity investment), assessing the credit worthiness of certain bonds, and using accounting data to screen potential takeover targets. Responsibilities in investment banking may also include company valuation, initial public offerings, equity and bond financing and various consulting services.
Students interested in Investment Management have a variety of options in the equity, fixed income, real estate, and private equity industries. A typical career track might involve a student starting in a research or portfolio management position at an investment bank, mutual fund, hedge fund, insurance company, pension or retirement plan sponsor, etc. Research might involve analyzing financial data and making investment recommendations. Portfolio management would involve implementing strategies and allocating funds to different assets. A very important function in this industry is providing support to clients in terms of providing alternatives, recommending strategies, and interpreting market events and providing perspective on investment objectives and asset classes.
The Corporate Finance career path begins with placement in the finance group of a corporation. The career in corporate finance is focused on the day-to-day management of the firm's finance functions. Responsibilities may include: evaluation of investment projects (capital budgeting), mergers and acquisitions, public equity offerings, public and private debt placement, management of existing debt (compliance with covenants, defeasances, callability and convertability), cash management, and foreign exchange management.
Venture Capital & Private Equity
Venture Capital & Private Equity might lead to a career as either an investor or as an entrepreneur. Students attracted to the investment side of the business may begin their careers working for a venture capital or leveraged buyout partnership in an analyst research position. Responsibilities will often include analyzing candidate firms for investment. At a venture capital partnership, an analyst might appraise the market potential of a technology or evaluate the managerial skills of an entrepreneur. At a leveraged buyout partnership, an analyst may assess a firm's opportunities for operating improvements or consider the impact of substantial debt on its performance. Students interested in joining or launching a start-up company upon graduation will benefit from the recommended courses because securing financing is a central issue for these firms.