hi Guys,
I would be graduating with Financial Mathematics degree from US university this year.Could you let me know the appropriate channels to find a job in IB india.
I really really need some advice.
Just to add another perspective, the competition of the plum 'front office' roles had gone global now.
With the recession hitting the finance industry bad across the globe, most experienced traders and research analysts are heading back home and willing to work for lower salaries.
For employers this is a dream scenario. Experienced guys with international expsosure and proven skills at a fraction of the salary.
Well the only thing that comes to my mind is to ask you first of all why you are interested in such jobs.
The main reason is that without a top rung MBA or CFA/CA/FRM/CAIA, you will find it nearly impossible in today's challenging times to get into a good top-tier investment bank in such a role. I have a few CVs of my friends/colleagues who have got good qualifications and yet are finding jobs without much success.
However if you are thoroughly determined, then understand few things clearly.
1. You will need to settle down in Mumbai for good so be prepared to leave your home town for good. The logic is plain and simple- the main business originates in Mumbai and all (yes- all) investment banks have headquartered themselves in Mumbai (Im talking about the front offices and not KPOs), so it just makes sense to be based out of Mumbai or else you will let go all the good opportunities that might have come your way were you in Mumbai.
2. You will have to start small. Forget about earning those legendary bonuses in the first 3-4 years of your career. Most of my friends who started in the front-office did not get paid big till the 3rd or 4th year of their work but yes, from thereon, once your name begins appearing on a research report, you will be recognized big time and get fabulous offers- but till then, its a long and an arduous battle.
3. Start sending your CV to a local broker for junior analyst positions since you dont have relevant experience. This is the surest way to land in a front-end role. You will get the task of meeting the management on behalf of the broker for whom you are working, you will get to attend conference calls and your knowledge will increase tremendously in the early years of your career. But yes, you will suffer a heartburn when you get your monthly pay because it will be inferior initially.
If you dont want to take this acid test and still want to be satisfied calling yourself an "equity research analyst", then join some KPO like Copal Partners, Aranca, Irevna, Progeon and satisfy your false sense of pride !
However if you are serious about a career in investment banking and being in the "front-end investment banking", then go ahead and challenge yourself- try doing these 3 steps in the next 3 months and tell me how it goes for you. Then I can guide you further.
Hope this helps.
Hi tumtum can you plez explane the 3rd point......local broker means 5paisa, anand rathi but which are more locallised, right. And other than for the relevant experiance what else does this local brokers look for in a fresh candidate. I have heard many that, it's better not to get into a KPO, mostly because their might not be a exit route and the work sucks, is it so ? And again people who does not carry a brand name are suggested to get in to these KPO, gather some exp & then move into Indian brokerage houses. Plez comment.
papairaja SaysHi tumtum can you plez explane the 3rd point......local broker means 5paisa, anand rathi but which are more locallised, right. And other than for the relevant experiance what else does this local brokers look for in a fresh candidate. I have heard many that, it's better not to get into a KPO, mostly because their might not be a exit route and the work sucks, is it so ? And again people who does not carry a brand name are suggested to get in to these KPO, gather some exp & then move into Indian brokerage houses. Plez comment.
Getting into a KPO is the perfect recipe for sabotaging you career. Your work ex would not amount to anything and you might never develop certain skillsets in a KPO.
Local broker is any Indian broker such as the ones you mentioned. And yes, its better to work in a local brokerage house as a junior analyst rather than in a KPO.
Getting into a KPO is the perfect recipe for sabotaging you career. Your work ex would not amount to anything and you might never develop certain skillsets in a KPO.
Local broker is any Indian broker such as the ones you mentioned. And yes, its better to work in a local brokerage house as a junior analyst rather than in a KPO.
Thanks allot for your replay Tumtum, but probally u forgot to mention what does a local broker looks for in a candidate, & hou should i prepare my self as a fresher.
Hi Tumtum,
Thanks for d info. Well, i m an engineering graduate , want to get into Financial domain. I have been working in an IT company for past 2.5 yrs. I want to know that whether i can make a shift from IT to Finance , by clearing FRM/PRM certification ?. I mean, do i need an experience in Finance or an IT experience is ok ?.. And, what are the job prospects and kind of packages offered with the Engineer + PRM/FRM background ?...
Thanks
HI Tumtum,
I am a B-Tech Grad with 2 years Work Exp in IT. NOw i am planning to shift to Finance sector.I want to be sure that i move into a core Finance job instead of a mix of Finance and Sales.I am looking for a good Research Profile in the Finance sector.I am planning to do CFP(Certified Financial Planner).
Please advice if it is worth doing it especially when i am looking for a research or Anlayst Profile.
Is it only CFA or FRM are the best certifications to get such profiles?
As i dont have any work exp in Finance i am thinking of doing a course from Delhi by which i can get into Finance sector with my CFP Certification offered by the institute and then doing CFA .Hence i would also like to know how good is the combination of CFA and CFP in the Finance Sector.
Thanks in Advance
Hi,
Could you please help me guiding about the openings in Equity research? I am currently working with State Street Syntel Services Pvt Ltd in its Hedge Funds division since 1 year 10 months. I have done my MBA in Finance and have undergone training on equity research from Mr. Dheeraj Vaidya (B.Tech from IIT Delhi, PGDM in Finance from IIM Lucknow). At an entry level i am ready to work at a low pay in Equity research as a trainee/associate/analyst. Can you please help me in this case giving some guidance on the job openings in equity research and tips to crack Equity research interviews.
Well the only thing that comes to my mind is to ask you first of all why you are interested in such jobs.
The main reason is that without a top rung MBA or CFA/CA/FRM/CAIA, you will find it nearly impossible in today's challenging times to get into a good top-tier investment bank in such a role. I have a few CVs of my friends/colleagues who have got good qualifications and yet are finding jobs without much success.
However if you are thoroughly determined, then understand few things clearly.
1. You will need to settle down in Mumbai for good so be prepared to leave your home town for good. The logic is plain and simple- the main business originates in Mumbai and all (yes- all) investment banks have headquartered themselves in Mumbai (Im talking about the front offices and not KPOs), so it just makes sense to be based out of Mumbai or else you will let go all the good opportunities that might have come your way were you in Mumbai.
2. You will have to start small. Forget about earning those legendary bonuses in the first 3-4 years of your career. Most of my friends who started in the front-office did not get paid big till the 3rd or 4th year of their work but yes, from thereon, once your name begins appearing on a research report, you will be recognized big time and get fabulous offers- but till then, its a long and an arduous battle.
3. Start sending your CV to a local broker for junior analyst positions since you dont have relevant experience. This is the surest way to land in a front-end role. You will get the task of meeting the management on behalf of the broker for whom you are working, you will get to attend conference calls and your knowledge will increase tremendously in the early years of your career. But yes, you will suffer a heartburn when you get your monthly pay because it will be inferior initially.
If you dont want to take this acid test and still want to be satisfied calling yourself an "equity research analyst", then join some KPO like Copal Partners, Aranca, Irevna, Progeon and satisfy your false sense of pride !
However if you are serious about a career in investment banking and being in the "front-end investment banking", then go ahead and challenge yourself- try doing these 3 steps in the next 3 months and tell me how it goes for you. Then I can guide you further.
Hope this helps.
@ tumtum
hey a pretty decent advice..I'M a Btech final year student with no certificates to prove my interest in finance.......Just had a query whether working in the above mentioned KPO's in order to just get an experience will open gates to I-Banks ?? I have heard of instances where people going into Irevana have landed up getting jobs in I banks..... What if not KPO will you suggest me to do (i'm nt sure wat does local brokers look in candidates, please throw some light) so that I can expand my knowledge base as well open chances for I banks ?..
hi folks,
i m new 2 this thread..,happy 2 locate a thread which is very much of my concern..i will attempt cat 2010 (this time seriously)....but i m sure dat my poor profile will definitely pose problem...in future i see myself as an i-banker...i request u puys 2 guide me 4 my future...dere r many financial certifications in d market which v can go 4,but i m unable 2 choose one due 2 lack f knowledge...pleez puys guide me 2 select appropriate fin. course keeping in view of my keenness 4 i banks as well as building a strong profile for b school interviews....frends this is imp. 4 me
thanks in advance..
Tumtum,
It seems u have sound knowledge abt the financial mkts.Can u give me ur email id?i wanted to discuss certain things abt the equity research segment.
Thanks.....
Shivani
Hey Guys,
I am already a Chartered Accountant and wants to pursue MBA from one of the Top Institutes. In the meanwhile till I clear the CAT, I am considering joining the KPO's in Investment Banking like Irevna. After lot of struggle in getting a better opportunity, I found there is no way to start than to enter into a KPO.
Anybody has some views for enlightenment?
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hi
i got a job offer from a leading investment bank through campus placements but i do not have a MBA degree. I am currently in my final year of B.E. The designation is of Research Assistant. My question is since i do not have an MBA will I be able to move up in the hierarchy i.e. within 2-3 yrs to an Analyst.
hi
i got a job offer from a leading investment bank through campus placements but i do not have a MBA degree. I am currently in my final year of B.E. The designation is of Research Assistant. My question is since i do not have an MBA will I be able to move up in the hierarchy i.e. within 2-3 yrs to an Analyst.
Hi Helpmeplease.
As far as I know, Citigroup has this designation of Research Assistant and that too for mainly its kpo in Andheri.
I had a few friends there who went in as assistants but it took them 3-4 years to move up the chain because promotions arent easy to come by in Citi. Secondly, your work profile will revolve mainly around updating models and database building/maintenence. This is what my friends too did and hence I know about it in depth.
If ur an engineer, this job wont add any skill set. Id suggest you to either NOT take this or if you take this, then to complete CFA/FRM/CAIA alongside and then jump
into a top-tier MBA.
thanks for the reply
can u clarify following points :-
1. Since in 4 yrs if a person can become an Analyst, what is the need to do an MBA at this point since in MBA 2 yrs are spent in doing it + fees (purely looking from financial perspective)
2. I work for 5 yrs and then go for executive MBA from top tier B-schools
3. It is KPO, so it is bad ??
4. It is not in Citi. some another investment bank
Plz do reply
thanks for the reply
can u clarify following points :-
1. Since in 4 yrs if a person can become an Analyst, what is the need to do an MBA at this point since in MBA 2 yrs are spent in doing it + fees (purely looking from financial perspective)
2. I work for 5 yrs and then go for executive MBA from top tier B-schools
3. It is KPO, so it is bad ??
4. It is not in Citi. some another investment bank
Plz do reply
Hi Helpmeplease !
I will answer your queries in the order you posted
1) It is wrong to assume that you will become an ANALYST in 4 years...No..from Research Assistant, you will go on to become a Research Associate in 3-4 years time and then again after 3-4 years as Research Associate, you will move on to become ANALYST....so the time frame is somewhat like 5-6 years.
2) An MBA will reduce this time frame to something like 3-4 years for you, without an MBA you will spend some time more at junior levels. The problem for you is that all the big league b-schools DO NOT CONSIDER KPO WORK EX in good standing because they know that it woudl be difficult to place you post MBA into a good place if you have KPO on ur resume.
3) I would not coin any rule that its KPO so its BAD but going by the precedents, generally crappy work of model maintenence, model upgradation, copy+paste researching etc is outsourced to KPOs and hence the general perception about KPO work ex is hard to defy. It is difficult to get an extremely good profile work which builds secial skill set in a KPO kind of set up. Hence I am of the opinion that being an engineer you should not waste time here and rather go into the industry, get to solid years of work ex and go for an MBA.
I have clarified my stand, rest is upto you.
Hi guys, I am a CFA and an analyst at a leading IB in Mumbai.
I know very well that you guys without any work ex or a background in finance coud definitely land-up in IBanks. In fact, the IBs require people from vast diverse backgrounds and graduates in statistics, mathematics, engineering and IT are a big hit- even if they dont have an MBA. In fact I have seen that many IBs abroad even have physics , chemistry and music graduates working for them !!
The only catch is that you have to be from a top-rung institute in your graduation. Secondly, you must either register for a CFA if your interested in financial markets/ equity research but incase you are in love with corporate finance, you may well do CMA from Institute of Management Accountants (USA) or ACMA from CIMA UK alongside your job.
The UTI Institute of Capital Markets also offers a 1yr Securities Markets Program in Mumbai for those wanting a short-term course but in any case FORGET NCFM CERTIFICATION for breaking into ER/IBs coz they r just plain shit.
Feel free to ask more on it.
Regards,
Tumtum.
tumtum, your words have given some confidence to me.
I am an engineer, I working as a consultant for Media & Retail industry.
I would like get experience in equity analysis field.
I have been trying to get a job however, still no luck. I am a getting a feeling that recruiters only prefer people from finance background.
I registered for CFA (us) too. still no help?
need your suggestions...
Thanks
@ tum tum
is entry level job for equity research work achievable after financial modeling course.
Hi Helpmeplease !
No..from Research Assistant, you will go on to become a Research Associate in 3-4 years time and then again after 3-4 years as Research Associate, you will move on to become ANALYST....so the time frame is somewhat like 5-6 years.
.
what is the hierarchy ?? i thought a person becomes associate after analyst