Market Maker IBD, Equity Research, or Global Markets? Decoding Investment Bank Careers
Not sure whether investment banking, equity research, or global markets is the right fit for you?
In this episode, Anthony Cheung is joined by former Goldman Sachs equity research analyst Silvia Magni to break down what these three front-office roles really involve. They cover responsibilities, hours, how each division makes money, skills required, and who each job suits best.
Whether you're targeting a summer internship or a full-time role, this episode is your all-in-one guide to understanding the major divisions in investment banking.
Episode highlights:
- What it's like to work in IBD vs equity research vs markets
- The surprising differences in working hours and pressure
- Common myths and what recruiters really look for
- How AI and information overload are changing the skill set
- Tips on choosing the right division for your personality
(00:00) Intro: Finding Your Fit in Finance
(01:24) Investment Banking Division (IBD) Explained
(02:30) Equity Research: What It’s Really Like
(05:38) Jargon Buster for Division Names
(06:19) Global Markets Roles Overview
(09:08) Revenue Models: How Banks Make Money
(13:00) Working Hours & Lifestyle Differences
(18:01) Must-Have Skills for Investment Banking
(21:20) AI, Info Overload & the Skill Shift
(22:24) Key Skills for Markets Professionals
(26:33) Transferable Experience in Sales
(27:43) Equity Research: The Hidden Middle Ground
(30:49) Summary: Side-by-Side Role Comparison