The essence is completely different. Although their jobs are all finance, they are almost completely different.

Fund managers, taking stock as an example, need to study domestic financial news every day, read various research reports, participate in various videos and telephone conferences, and go to specific companies for research when necessary. Watch the market during working hours and watch all kinds of research reports after work.

the sponsors of investment banking projects, taking IPO as an example, need to stay in the listed company every day, communicate with the executives and secretaries of the listed company, obtain enterprise information and necessary materials, communicate with accountants and lawyers, and communicate with materials that need to be supplemented. Finally, they need to form a set of materials and submit them to the company for approval. Finally, they need to communicate with sales transactions (or capital market departments) about pricing and issuance timing.