[quote=Breaston15]Hello,



Lost time listener, first time caller.



These past couple of months i was fortunate enough to lockdown some
interviews with some of the investment banks and brokerage firms that
were recruiting on campus. This is only going to be a summer
internship, but i will be performing for an offer for full-time
employment in NY. I interned for a retail firm last summer and the work
was more marketing and bringing in new clients. My question is, to
those who have actually worked on the institutional side of financial
services, how does the experience differ in terms of how they do
business and what dramatic differences should i be prepared for?



From my dialogue with one of the senior managing directors at Bear
Stearns, brokers don’t actually build a book, but rather placed on a
team to service an client company. Each broker specializes in a
particular sector and the team is self-sufficient for pooling and
distributing leads. Anything else you can offer to add?



Thanks Rep Forums

[/quote]



Might you be confusing prime brokerage with retail brokerage?



Prime Broker’s service large institutional accounts. That’s often done
as a team, and you function as an interface between your companies
trading desk(s), and the insitution’s desk(s). I think air traffic
control is a good analogy.



Retail brokerage is selling securities to people on mainstreet under the guise of financial planning or wealth management.

[quote=Breaston15]

These past couple of months i was fortunate enough to lockdown some
interviews with some of the investment banks and brokerage firms that
were recruiting on campus. [/quote]



If you can’t capitalize “I” in a sentence, can you really be trusted
with money? FS is a very orthodox business, so you absolutely do not
want to look stupid at any time.



Bad enough we have Jeno here cluttering the forum with IMspeak.