Generally, capital markets will be organized into product groups. In larger firms there might also be some geographical groupings and even industry groupings like financial institutions which are analytically different and do a great deal of security issuance. There might be some derivative functions which might be combined with what's called structured finance where derivatives and bonds or stocks are combined together. Muni finance is for quasi public bodies, like local governments. The biggest teams are equity capital markets, debt capital markets, and lev fin. The latter might be combined with high yield. Within debt capital markets, you'll probably see a distinction between sovereign issuance, investment grain bond issuance and high yield bond issuance. Leverage finance is typically set apart as they're structuring bonds for LBOs where leverage is a great deal higher and they will deal with issuance exclusively originated for these types of transactions. In pretty much every division you'll need attention to detail. Communication skills are a given. However, math skills are particularly important for debt capital markets and anything to do with derivatives such as structured finance. You won't need deal structuring here, and corporate valuation will be important only for equity capital markets.