Hi all.
Let's all do this exercise.
Why dont we share our ideas of what we think of the term "investment banking".
I would request you to NOT search google and use your own thoughts to describe this field.
I am sure this will throw up quite a few surprises but at the end of the day, the aim for this exercise is that I along with a few other experienced folks will atleast be able to point out how correct or "away from the ball park" your thoughts regarding investment banking are.
The whole logic behind this exercise is that
* Every other Puy wants to be an "invesment banker"
* Every other Puy thinks that doing CFA/FRM/MBA will get him/her into an Ibank
* Many people think, there is some magic formula/potion for getting into an Ibank
* Every other person wants to be an "analyst" by "doing CFA" and wants to work in "research" in an Ibank
* Most people feel that working in a "brokerage" is a bad thing to do and will not do any good to their wonders
By bringing about a wide gamut of topics under this discussion, I feel that we can guide the puys to take correct decisions for themselves by correctly assessing their strengths and weaknesses and hence I am proposing such a discussion.
Hope fellow members contribute and make this interactive and informative.
Cheers !
Hi People
This is a very important Question I am willing to discuss.A reply from all the informed puys out there can actually decide my career.
I have a low profile with just 67% in 10th, 62% in 12th and 58% in B.Com(H) which I passed out in 2006. After that I worked with Ernst & Young in a shared service environment as an Audit Associate for 1.5 years.This is the only work ex I earned after my graduation.I left it 1 year back.I am now joining State Bank Of Hyderabad as a Probationary Officer/ Management Trainee. During 2006-2010,I did not plan my career well because of ignorance or immaturity.I attempted CAT three times.My last score was 85%ile. I also cleared PE-I or entry level exam of Chartered Accountancy during my graduation.
My ultimate goal is still to
1.Earn an MBA from one of the top 10 colleges.Please tell me what should I do to power up my profile.
2. As a back up, I plan to switch over to Pvt. banks after 5 years of work ex in SBI.Would a SAP certification help?How is six-sigma for that matter?
I am looking forward for an MBA in next 3 years.
Pleasee Help.
First of all I think, you already have a good profile. Concentrate on the percentile.
SAP certification or six sigma will definitely not help in banking. See, six sigma is an operational efficiency related certificate. This would have helped you if you wanted to get into manufacturing companies etc, but not in a bank. SAP again, is basically MIS etc etc. The kind of things which Btechs etc work on, but not banking professionals. What I would advise you is that you take a particular vertical in the bank, apprise yourself of all the available products, how to price them and structure them, also work on your communication skills (they might be really good, but there is always scope for improvement isn't), banking afterall at some point of time requires customer interaction (customer doesnt always mean a retail audience, ur customer might be the CFO of reliance, seeking funds to finance its refinery project)...
Hi all.
Let's all do this exercise.
Why dont we share our ideas of what we think of the term "investment banking".
I would request you to NOT search google and use your own thoughts to describe this field.
I am sure this will throw up quite a few surprises but at the end of the day, the aim for this exercise is that I along with a few other experienced folks will atleast be able to point out how correct or "away from the ball park" your thoughts regarding investment banking are.
The whole logic behind this exercise is that
* Every other Puy wants to be an "invesment banker"
* Every other Puy thinks that doing CFA/FRM/MBA will get him/her into an Ibank
* Many people think, there is some magic formula/potion for getting into an Ibank
* Every other person wants to be an "analyst" by "doing CFA" and wants to work in "research" in an Ibank
* Most people feel that working in a "brokerage" is a bad thing to do and will not do any good to their wonders
By bringing about a wide gamut of topics under this discussion, I feel that we can guide the puys to take correct decisions for themselves by correctly assessing their strengths and weaknesses and hence I am proposing such a discussion.
Hope fellow members contribute and make this interactive and informative.
Cheers !
Hi all,
Please forgive my innocent answer to this question.
I was reading a book called 'The Google Story' last year wherein i read about how a few angel investors provided the Google founders with the money that they initially needed when scaling up the organisation. I came across the term 'Investment Banking' around the same time and just by looking at the words 'Investment' and 'Banking' separately, i figured that the job of I-Bankers must be to calculate whether or not to make such investments (like the Google one or for other Startups etc) by calculating the risks, returns etc of the investment made.
Am i completely off the mark with my understanding of the term?
I was reading a book called 'The Google Story' last year wherein i read about how a few angel investors provided the Google founders with the money that they initially needed when scaling up the organisation. I came across the term 'Investment Banking' around the same time and just by looking at the words 'Investment' and 'Banking' separately, i figured that the job of I-Bankers must be to calculate whether or not to make such investments by calculating the risks, returns etc of the investment made.
Am i completely off the mark with my understanding of the term?
Yeah..ur almost on the target..But then, that is only one of the areas in Investment Banking.
Usually Angel Investors are individuals who provide funding to startups.
Venture Capital Firms are usually organisations which do the same.
Investment Bankers not only deal with startups, but also with blue chip companies.
They also help companies in raising additional funds through different instruments..among other functions...
Hey tumtum,
Very informative thread. Thanks for that. I am a buy-side equity research analyst tracking US sectors from Chennai for a US-based hedge fund for past 6 months post my MBA. What is the growth prospect of this profile in India ? Are similar profiles offered in Mumbai by firms like Deutsche Bank etc ? Or going to US after some years is the way to grow ? Would you advice that I should rather find a job in Indian markets if I dont want to move abroad ?
Thanks,
Ashish1224
Hello Everyone,
I need an advice from your side.I am Bcom fresher.I want to enter into equity research profile.I have 2 options in my mind.
1. I have come to know about Corporate bridge academy institute which provide joint certification in investment banking and equity research along with BSE.They also provide placement assistance.Do you know about this institute????will it be right to join this institute to get an entry into equity research.kindly help me on this.
2. If not, then how can i enter into equity research as a fresher.As I am finding it difficult to get a job of junior analyst in brokerage firm as a fresher. Brokerage firm and KPO hardly take any freshers as analyst.Brokerage firm recruit freshers as dealers mostly.Please help me if you know any KPO or brokerage firm(located in delhi) taking freshers as analyst.What course or certification should i do to enhance my skills to get an entry into equity research.
Looking for an early reply from your side(especially from TUMTUM).
@Arvind For a profile in Equity research , One must have either MBA from premier institute or CA. Even CFA will help. IITians dont require these degrees though.
Brokerage firm or Bank PO ? The choice depends on what career you want. If you want a career in capital markets/ibanking then brokerage firm is the right way- if not then you can go for Bank PO.
The fact is that it is actually tougher to get into ibanking after spending 4 years in commercial banking and it is much easier to get into ibanking after spending 4 years in a brokerage. In fact most of the top ibankers at top firms have at the beginning of their careers worked at menial roles in brokerages. You will find a strong link between brokerages and ibanks in that way.
Secondly, dont look at low pays dude. You are not from IIMs/IITs so in all fairness you should not look at the salaries they are getting. You will have to start from scratch and build your way up in 3-4 years time.
If you have worked in a brokerage prior to doing MBA, then it will boost your profile after you complete your MBA and it will certainly give you an edge in getting into big-ticket ibanks because they will value your grassroots level work experience of 3-4 years in a brokerage firm as it will give them assurance that you are business-ready and wont have to be taught things from scratch.
Think of working in brokerages as a stop-gap arrangement for 2-3 years and alongside prepare for your GMAT and get a 700+ score.
Frankly speaking, its not necessary to do CFA at this stage....you can do that even after your MBA.
The trick for you is to get a good profile (even if at a low pay) and work for a top-class MBA. If you manage a top class MBA then you will get good placement. CFA can be done later on as most MBAs do nowadays.
Think on these lines and feel free to ask more. Thanks
@tumtum & fin mark:
i have decided to leave my current job & now i am searching for a better job in an indian firm preferring a financial firm in mumbai/delhi. please do tell me how to search effectively & what positions to apply for , i wont do a selling job or a night shift job at all . also plz list some good firms (for good learning) to target ...thnx...
What would be asked in an entry level IB interview and what would they be looking for?
Have revised economics, accounting and probability courses that I have done and some basic finance concepts,any other suggestions?
What could be some GK topics that could be asked?(have read about QE and 2g scam from recent events)
Would appreciate any help
Thanks
Is it possible to move from a KPO to an I-bank ever
jain.er SaysIs it possible to move from a KPO to an I-bank ever
If the KPO is a captive company of an IBank or if there is some employee sharing agreement between a KPO and an IBank, then the movement is very much possible.
Otherwise all depends on your education pedigree coupled with work experience and yes, a generous dose of luck.
Hope this helps.
If the KPO is a captive company of an IBank or if there is some employee sharing agreement between a KPO and an IBank, then the movement is very much possible.
Otherwise all depends on your education pedigree coupled with work experience and yes, a generous dose of luck.
Hope this helps.
Well if I may take names , then how good is IREVNA
jain.er SaysWell if I may take names , then how good is IREVNA
Close your eyes and join IREVNA...Its too good to leave it.:shock:
jain.er SaysWell if I may take names , then how good is IREVNA
Again yaar Jaini, why do you want to join a KPO after getting through a reputed course like DU MFC?
If I were you, I would shut off KPOs from my list after a course like MFC. But then this is me and may not apply to anyone else.
If Chennai rather than Mumbai AND a KPO rather than a front-end role is your liking, then go for it, else think about what you want to ultimately do. Short term stop gap arrangement for a JOB in finance OR a long term CAREER in finance? If I were you , I'd pick up the latter hands down.
Give it a thought.
Again yaar Jaini, why do you want to join a KPO after getting through a reputed course like DU MFC?
If I were you, I would shut off KPOs from my list after a course like MFC. But then this is me and may not apply to anyone else.
If Chennai rather than Mumbai AND a KPO rather than a front-end role is your liking, then go for it, else think about what you want to ultimately do. Short term stop gap arrangement for a JOB in finance OR a long term CAREER in finance? If I were you , I'd pick up the latter hands down.
Give it a thought.
well Tum Tum what you are saying is correct , but on has to look at realities , this is the best I could manage from my campus , and getting a good finance job off campus if one is from tier 2 school is near impossible. Thats why i asked you the question is it possible to move to from KPO to an i-bank.....
jain.er Sayswell Tum Tum what you are saying is correct , but on has to look at realities , this is the best I could manage from my campus , and getting a good finance job off campus if one is from tier 2 school is near impossible. Thats why i asked you the question is it possible to move to from KPO to an i-bank.....
See, this is the difference in perception- its all in your mind mate !
If doing DU MFC makes you a second rung grad and this is the most that you can do from your campus placements then I am disappointed.
Disappointed not at the placement committee, not at DU, not at the MFC course, but at you (I request plz dont take it personally).
You need to learn to fight for yourself and not with the help of a proxy.
The thing is you should not care a damn about placements- you should think about what YOU want from your career, not what the course offers you.
Even with the dispute surrounding the CFA I never felt that I am from a second rung institute or I am any less qualified than people from IITs/IIMs. I always feel that I am as good or as bad as they are and I have made my employers notice that.
Same should hold true for anybody. Get your concept clear about what you want. Once you get that KPO tag, it WILL BE REALLY DIFFICULT to change recruiters perceptions later on and this could significantly dent your chances of making it to an IB. I was lucky enough to get into a captive and work my way upwards, but not everyone may be so lucky.
So I request you to have confidence and fight your own battles- you will surely be victorious.
Hello TumTum,
I am Niraj and I have done FRM and two levels of CFA and I am looking for a job..by reading the whole forum, I have concluded that KPO is a big NO and I am ok with it.
I am ready to work as an equity research entry level job, but sitting in West Bengal, I have not been able to get any job calls (which has hit my confidence)...Now I am planning to go to Mumbai and want to ask
1)Do you think it is a good decision to locate to Mumbai?
2)Further, if my decision is good...how should my approach be while looking for jobs...going through consultants or directly to companies and if you could name a few good consultants who could be helpful?...Have searched the internet for it and now I have around 100's of them...don't know how to differentiate them?
Thank You!
tumtum:
i need help ASAP , i m gonna leave my current job in 2 months time as its a BPO , now i really wanna join any good company preferably as an analyst for 1 year max, as i dont know much about portfolio mgmt , financial modelling
(i know only basics) should i join a KPO & so CFP / financial modeeling modules from NCFM via IMS or join any financial org as a fresher (i doubt if they take fresher without much knowledge do they??)
as i only wanna work for 1 year will NCFM be good for me or should i join any good org??
Hello TumTum,
I am Niraj and I have done FRM and two levels of CFA and I am looking for a job..by reading the whole forum, I have concluded that KPO is a big NO and I am ok with it.
I am ready to work as an equity research entry level job, but sitting in West Bengal, I have not been able to get any job calls (which has hit my confidence)...Now I am planning to go to Mumbai and want to ask
1)Do you think it is a good decision to locate to Mumbai?
2)Further, if my decision is good...how should my approach be while looking for jobs...going through consultants or directly to companies and if you could name a few good consultants who could be helpful?...Have searched the internet for it and now I have around 100's of them...don't know how to differentiate them?
Thank You!
Okay let me try to answer you. I cant say I am very much experienced person. But I have around 9-10 months of experience in Equity Research in a brokerage firm in Mumbai.
i) It will certainly a good idea to stay in Mumbai if u want to work in Finance field. Arguably, u will find more brokers in Mumbai than in other India. Try to keep the expenses minimum though, as Mumbai is bit expensive city, of course, only till u find job.
ii) Dont expect huge salary in ur first job. If u r getting anything above Rs. 25000 per month, u must be satisfied. Here work experience matters, if u get clicked here , then sky is the limit.
iii) Take huge interest in what u do. In my firm, where I worked there were some unenthusiastic ppl who were only concerned about 9-5 time limit.:banghead: U may have to work for 10 hrs a day. But if u enjoy this field, take my word, u really wont feel the burden.
iv) Ur seniors, ur bosses will be the most important ppl in building ur career here. They certainly have highly influential contacts. So always be in the good list of them. Ur next job opportunity will partially depend upon ur relations with ur bosses and seniors.
v) Take initiative. Do something extra than what ur bosses tell. For this purpose, u may have to work at home for few hrs. It will also increase ur analysing capacity. I hope u know there is a sea difference in what we learn in CFA/FRM books and what Trading/Research we do practically.
U need not find some rocket opportunities. But the employer should feel that u r giving ur most. vi) If u r sure about career in Equity "Research", U have to read lotsa research reports. Moneycontrol.com should be ur home page. Whatever u read on Moneycontrol or in Economic Times, u should try to analyse its impact on the stocks and sectors. U will find many research reports here Brokerage Recommendations
It is likely that if u r called by any broker for interview, u may be given a particular company or sector and may have to draft a report on that as a part of interview.
vii) Just make sure, u have a little bit command on English writing. Of course Financial English. This will improve when u read lotsa research reports. This is an added benefit, not a prerequisite.:-P
viii) When I said not to expect high salary in ur first job, I am not telling u should not try to earn more income. U should aim at earning through trading in ur personal portfolio, of course, on their tips. Believe me, u can earn 2x of ur annual salary as profits in a year. They have very valuable tips and information. The only thing u have to is keeping ur eyes and ears open.:clap:
Now how to approach the Brokerage Firm for ER profile. (JUST MY OPINION)
i) Prepare ur resume. It should be professional. Not a very general type resume. Or take the help of any of ur friend who is in a premier BSchool in making a Resume.
ii) On BSE site, u will find list of brokers http://www.bseindia.com/memberdb/search/search.asp
There are around 500 - 2000 members (I didnt count
). Their addresses and phone numbers are given. Try mostly in Companies.(Either Private Limited or Public Limited, Size doesn't matter for 1st job) U may have to personally visit the company. Don't give much consideration to ambience of workplace and all. What matters is experience. I positively feel that u will find place within 15 days and within first 50 firms u try for.:thumbsup: http://www.bseindia.com/memberdb/search/printform_city.asp?flg=equity This is the list of Kolkata Brokers which u may try first. There must be at least 50-100 brokers based out there.iii) The interview part will be a trigger and u will have to convince the broker to employ you. For this, I have already mentioned what should be done.
Thats all from my side. Consider this as a suggestion. I will request you to consider this as just an opinion of mine. There can be good and better ways than this. But I think , it will at least give a rough cut idea on how to proceed. :-P
@ABCLICKS: plz also advice me........