so,what exactly shld i do to enter into d Finance domain.I mean,what profile shld i make in order to convince interviewer that i m really interested in gttng into dis domain.Shld i start preparing for CFA or ny oder xam..so dat it looks little convicing frm my side..
The CFA would probably be the most convincing first step. Take it seriously, aim to clear (this is the real CFA I am talking about - the international one) L1 asap. Start studying for L2. (You don't really need to give L2, just coast thru; the course material). You should be down with basic and some off-balance sheet accounting by now. Then take one of the WallStreetPrep / Training the Street courses (if they're offered online). They don't take more than a day, and the purpose is to give you an insight into how someone goes about building a model.
This should be a significant amount of effort that may be interpreted as a genuine interest in finance. As a result of your CFA efforts, you will from your first year MBA accounting and finance courses relatively much easier and more fun.
with emergence of service sector in INDIA can we say investment banking has a great future in india??
back-office opportunities have grown enormously in recent years,but it's difficult to comment about the front end roles
in coming times..
as we see increasing FII & FDI in india..
or still we have to rely on US for lucrative jobs in this field? :lookround:
i guess front office establishment entails a strong client base in a particular region which i doubt exist in India at present.Further i would request i-bankers on this forum to throw some light on this issue.:lookround:
The services sector has always been around in India. In fact, because we're unable to control quality we're horrible on manufacturing. But in services, we do pretty well because of our large population
can we say investment banking has a great future in india?? in coming times..
The indian market has remained closed to the outside world thus far because of all the control the government has had over the market. This has resulted in deals being of a very small size and since fees are a %ge of deal quantum, the fee amounts are really tiny in $ terms. I've sat thru' several presentations made by very senior people at Merrill, JPMC and GS where they scoffed at how tiny the IB fees were. Since the fees are so small, global players with their new products have not been coming in.
However, as the government loosens control, more global banks will get excited about coming into the indian market. This will bring in larger amounts of capital into our country and result in larger deals. More exciting M&A; activity and capital markets interactions will occur. Currently, financial products structured by investment bankers in Mumbai are very simple and have no complexity. I see this changing rapidly and we should be fairly advanced in fin products the next 10 years.
as we see increasing FII & FDI in india..
or still we have to rely on US for lucrative jobs in this field? :lookround:
Money-wise, India pays pretty well, but only once you're atleast middle-management. However, even on an adjusted-PPP basis, the US pay is much higher because you work nearly 16-18 hours a day there (hence, burnout is fairly quick)
back-office opportunities have grown enormously in recent years,but it's difficult to comment about the front end roles
thats because of the outsourcing boom in India. Front-office roles are also increasing, but I "cannot" comment on the quality (which basically means that a whole lot of them are shit-shows) of these front-offices, as everyone with a couple of crores in their bank account is trying to open a 'boutique' bank.
i guess front office establishment entails a strong client base in a particular region which i doubt exist in India at present.Further i would request i-bankers on this forum to throw some light on this issue.:lookround:
Currently: (a) The products are simple and some major clients (i.e. the house of TATA and Reliance) put together their own in-house finance teams to do the investment banking functions. However, as products get more developed, they will offer more flexibility but be more complex and more advanced and these companies will come to investment bankers (b) SEBI doesn't require you to have an investment banking license to do IB functions. So every uncle with a CA degree thinks he is a banker End result, you have all kinds of peons thinking they're investment bankers. There's a common term for these guys - 'suitcase investment bankers'. However, as SEBI sees more complex products developing, it will move to restrict the participation in banking to those with a license (like how it was done for mutual fund advisors in india a couple of years ago). This license will force reliance and tata to come to reputed investment banks rather than doing their own indigenous IB.
hi, 1.Just wanted to know are there any SBI Bank Exams to get into their IBD or they only recruit MBA finance grads? 2.A lot of MBA finance guys i know got the profile of 'Relationship Manager'. Is this a front office job?
Hey i m a fresher who is ready to join IFMR Chennai to pursue my MBA in finance. I wish make a career in Investment Banking. Could anyone guide me What job will I get once i pass out nd wat else do u need to break into an A list Investment Banks such JP Morgan, Merill...etc
Can you name a few of the middle market entities...so that I could get a clear insight on it.
Thanks!
I think I put up a list in one of my earlier post. If you read thru the entire thread you'll find a whole bunch of IB information that will help you understand IB better.
hi, 1.Just wanted to know are there any SBI Bank Exams to get into their IBD or they only recruit MBA finance grads? 2.A lot of MBA finance guys i know got the profile of 'Relationship Manager'. Is this a front office job?
SBI Bank exam will get you into the bank. You need an MBA (or CA?) to get into SBI Caps (their IBD)
Do fresh commerce graduates have any chance of getting any role in I-Banking....or an MBA is the bare minimum ?
Minimum Standards: Front-Office roles at a BB: MBA from an IIM / ISB Front-Office roles at an MM / Boutique: MBA / CA + Work experience in a well-known KPO
Back-Office roles at a BB: IIT undergrad, MBA from a non-IIM/non-ISB, non-XLRI Back-Office roles at a MM: No roles available
MBA from FMS + 2 levels of CA cleared Where would the above fit in the table ?
Minimum Standards: Front-Office roles at a BB: MBA from an IIM / ISB Front-Office roles at an MM / Boutique: MBA / CA + Work experience in a well-known KPO
Back-Office roles at a BB: IIT undergrad, MBA from a non-IIM/non-ISB, non-XLRI Back-Office roles at a MM: No roles available
Minimum Standards: Front-Office roles at a BB: MBA from an IIM / ISB Front-Office roles at an MM / Boutique: MBA / CA + Work experience in a well-known KPO
Back-Office roles at a BB: IIT undergrad, MBA from a non-IIM/non-ISB, non-XLRI Back-Office roles at a MM: No roles available
What do u think abt bcom + CA + CS for front office bb... maybe also put in a cfa L2 passed .....??
What do u think abt bcom + CA + CS for front office bb... maybe also put in a cfa L2 passed .....??
*PEACE*
I think that the discussion is veering from my original intention of providing info about IB to now a 'what do you think of my profile'. I appreciate that these are genuine queries that all of you would appreciate an answer to. Hence, here's a framework based off which you can decide for yourselves:
It's like this - banks want the best and the brightest, like consulting firms. They want to be able to tell their client that the million dollar(s) of investment banking fee are being spent on deploying some of the smartest people in the world working you the client's financial issues. They need people who will gel well with the client (not schmooze too much, because clients don't have much respect for ass-kissers) but at the same time earn the client's respect. The client must feel confident to call the investment banker to ask his advice (even tho' the client may have been CFO of his firm for triple the number of years that the banker has been at his job). Ad this confidence must be well-placed, because the banker must have pedigree (in terms of coming from some of the best schools) and smarts (in terms of being able to come up with innovative financial-legal solutions).
Now ask yourself, once you graduate, would you be one of these people who is looked up to, is really confident and up-to-date on most events around the world, can speak well publicly, knows his stuff super well, learns fast, comes from a great school?
If you come from a non-IIM, it is that much harder, because you're competing with IIM guys who're desperate for that NY job that pays $200,000+ / yr. In fact, at BofA-ML, an Associate can easily make about 60L / year (incl. average bonus) in the first year of work in Mumbai. Thats a lot of money, right? So you can only imagine how tough competition is!
Based off this information, you should be in a position to judge where you stand and how you stack up against the competition.
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I think this is sufficient to help you and I cannot take further questions on whether your profile is acceptable to banks.
Can you please tell what is an IBD product and different type of products???
The classical definition of a product is something you can sell to the market in exchange for compensation.
Based off this - Investment Banking 'Products' are all capital market-related activities. This includes IPOs, bond and loan issuances and other activities that actually bring the money to the client. (As opposed to advisory / m&a; functions or coverage functions). There are divisions within investment banks which focus on product groups - Check Page 4 of the thread for more details on product groups.
Please let me know what work is this and what product is involved in layman terms
Responsible for Structured derivatives product sales (FX & Interest Rate) to Financial Institutions
This is a part of the Sales & Trading activities. The 'products' in S&T; are IRS (Interest Rate Swaps), CDS (Credit Default Swaps), commodities, currency hedging contracts, etc.
This is the 'Sales' part of S&T; and is usually mind-numbing work. If you see yourself as a smart, go-getter - then the Trading part of S&T; will appeal to you.
This is not core Investment Banking and has no connection with investment banking products.
End result, you have all kinds of peons thinking they're investment bankers. There's a common term for these guys - 'suitcase investment bankers'. However, as SEBI sees more complex products developing, it will move to restrict the participation in banking to those with a license (like how it was done for mutual fund advisors in india a couple of years ago).