How does sales in Investment banks work?
I understand sales in consumer products where there is a tangible product, but in Investment banking what are they selling? and how do they sell something intangible. Please help I am a student interest in the sales field as a whole, and may be interested in the finance sales field.
What they are selling is money.
Large commercial investment banks are the ones that underwrite bond offerings, for example. In the USA, if your town or state wants to issue a bond for a new sewer line or a bridge or any other large municipal project, the actual money is going to come from one or more investment banks. The people who arrange these deals are selling the services of the bank. They bid on these types of contracts in competition with other banks by offering the best interest rate and/or terms.
Bond underwriting is just one business line. There are many others. If you go to the website of any major investment bank you can think of, just read their sections titled "services" or something similar to find out what they offer.