Sometimes jargon is intuitive. And sometimes it's just plain baffling. However, once unfamiliar terms are explained, everything becomes clear. Financial jargon is no exception. If you're thinking of pursuing a career in financial services, get the heads up on some of our specialist terminology below. Your new knowledge will give you a leg up.

Ask

What it means: Price at which you're willing to sell a security
When you'll hear it: On the phone with a client

Bid

What it means: Price at which you are willing to buy a security
When you'll hear it: On the phone with a client

Bookrunner

What it means: One of the main underwriters (aka investment banks) behind the issue of an equity or debt security; can be active or passive
When you'll hear it: While watching financial news

Prosup

What it means: Short for Prospectus, which is the main legal document for a securities issuance
When you'll hear it: When walking clients through a new securities offering

Long

What it means: Buying a security that you expect will rise in value
Where you'll hear it: On the trading floor

Short

What it means: Selling a borrowed security that you expect will fall in value
Where you'll hear it: On the trading floor

10K

What it means: An annual financial report published by publicly traded companies
When you'll hear it: While researching a potential client

8K

What it means: Breaking news from a publicly traded company
Where you'll hear it: In the morning research meeting

There's a lot more industry lingo used in investment banks -that's why we'll be putting together more articles like this one over the coming months.