India is the boomtown of the world and hence IB makes sense here in a long run.. Secondly, the difference between boutiques and BB is not clear in India.. Example, in 2011 Jefferies has done better than many BBs.. 2008-10, Rothschild did bumper business, better than most BBs...
For a global perspective on what is hot and what is not check out Vault Prestige rankings for banks (not the usual best to work banks)..
Beyond IIMs and ISB very less is recognised overseas. Bombay B Schools have a networking advantage and hence the smart guys from JB, NM etc do better than many candidates from IIMs in a long run.. But I am talking about STUDs who can network through the most elitist of places..
Hope this helps!
What is your personal opinion on JB, NM and SJMSOM (IIT B) with regards to investment banking? If one wants to go for Rothschild, Jefferies and Everstone and all..(middle tier banks)? I might end up converting all 3.
What is your personal opinion on JB, NM and SJMSOM (IIT B) with regards to investment banking? If one wants to go for Rothschild, Jefferies and Everstone and all..(middle tier banks)? I might end up converting all 3.
investment banking is tough to get from all three colleges but the chances are better at JB>IITB>NM
India is the boomtown of the world and hence IB makes sense here in a long run.. Secondly, the difference between boutiques and BB is not clear in India.. Example, in 2011 Jefferies has done better than many BBs.. 2008-10, Rothschild did bumper business, better than most BBs...
I would differ on two points: (a) The difference between bb's and boutiques in India is very very stark - in terms of deal flow as well as the quality of talent that the firm has. Not just that, deal quality and minimum ticket size vary vastly when you compare a bb and a boutique here. I've spent time in both setups and the two are a very very different experience (b) (Talking about the US - since I don't know who publishes the league tables for India, if any) Jefferies as a firm has done well and features on the league tables for several type of deals, but on the whole - its business does not outshine any of the BBs, even UBS (which has been suffering a lot of setbacks). Similarly, Rothschild hardly features on the league tables for most structured transactions that don't require an underwriting capability.
thank you for starting such a nice thread... my query is Right now have 16 months of experience in IT company(tcs) and last year had an XLRI Reject. This year also will go for CAT/XAT/FMS but giv a drop if not got top 10 b school. i am interested in IB and want to switch to this sector as soon as possible.i have offer from Evalueserve and copal partners. are they worth joining and give me relevant experience post mba to enter into IB or just stick with IT coz these exp wont count...
If one is about to start working in an I bank and the profile is also very good and offers good opportunities, then is there any need still to go for CFA(USA) ? I mean i know CFA is of gold standard but if one is already getting a job wich he will get after CFA then is it really required that person still writes CFA or FRM?
1. Why do investment bankers have to work for so many hours in a week. Is it because a deal has to be squared off very soon as it gets initiated or an investment baker is handling multiple deals at a time.
2. Which investment Bank is handling this IPO. Is Book Running Lead Manager same as Investment Bank
i want to make a career in investment banking. should i take up an mba in finance?? i have got thru imt gzb... how is finance there? should i do cfa in order to make a strong profile?? people say that mba in finance and cfa is like two roads to the same destination.. is it so??
1. Why do investment bankers have to work for so many hours in a week. Is it because a deal has to be squared off very soon as it gets initiated or an investment baker is handling multiple deals at a time.
2. Which investment Bank is handling this IPO. Is Book Running Lead Manager same as Investment Bank
(1) There are a lot of theories as to why investment bankers work so hard. One is that everything needs to be done as soon as possible. The reason being that market conditions change so rapidly that opportunities disappear if not taken up immediately. The other reason is that the quality of output from reputable banks is as near perfect as it could be - and banks build their reputation from quality of service and product. You would know that it is difficult to get quality without multiple 'correcting' iterations. All of this takes time. There may be other reasons that I have missed out - but most of them relate to the line of business and culture prevelant in banking
Could someone shed some light as per his/her personal opinion on moving into Securitized Products Research (RMBS/ABS/CMBS etc) from Structuring desk (1 year experience in Structuring desk).
Down the line: MBA in Finance from IIMs or so.
My thoughts: Want to see the research side (recommendations/strategy etc), experience a different asset class rather than spanning the same asset class for some more time (since its stuck and not heading anywhere from the current structuring profile).
How would it reflect on the resume having accrued experience in two very different profiles/two very different asset classes?
A lot of people who read the prospectus of a b-school are excited to see BBs recruit there. Seeing some of the recruiters on most of these brochures is enough to excite the standard applicant more than the centrefold of the latest issue of Maxim. However, beware! a lot of those jobs are in the firms' Global Resource Centres - i.e. glorified KPOs.
Disclaimer: Before I start off, I mean no disrespect to those working at these KPOs. They're working really hard and do an honest man's job. They work beyond the call of duty most nites and slog their butts off to keep their bosses happy and salaries coming in. BB KPOs also pay pretty decently for an MBA grad from a tier-2/3/4/5/6/.../738,378 school Real stories from analysts who're my classmates here at school:
Goldman Sachs: "Friday nite, need to go out - but have been instructed to build a model before Monday morning. Three cells of what should otherwise be a 15-page macro-enabled model have been filled out. Well, the solution was to call GS' Resource/Valuation Centre in Bangalore and get them to finish it before Monday morning arrives"
Citi: "There was a link to the Mumbai KPO on their internal website. They would submit instructions to this page and the ask for the work they needed done. Twenty-four hours later - hook or by crook - its done"
AT Kearney (this one was from a guy who I had the pleasure of listening to while I was staying at the ISB during one of my spontaneous vacations): "We'd push all the data-mining and research (muttering begins) and other shit jobs (muttering ends) to the back office in the nite while we were leaving work and we'd come back to the office next morning and it'd be done"
...to be continued
... continued
The point I am trying to make is that by taking up these "Global Resource Center" jobs, you're not getting yourself any closer to the world of investment banking. Thats what this thread is about - figuring out how to get into investment banking. I'm hoping to boost your understanding of what the business is all about, here.
The various smiling faces you see of people in these Resource Centers are smiling because they've been told to - not coz they love their jobs. (Well, the investment bankers don't smile while they're doing their jobs either - not until the bonus hits the bank... )
For those asking me which GRC to get into - sorry mate, I'm not the authority on this.
Hello Jamiroquai, I fall in the area you described in the two posts above (fortunately normal day shifts for me :D). I have been working in the back-office operations of large banks in Portfolio Valuations, Fund Administration & Reconciliations. I have recently quit from my position in a junior managerial role at JP Morgan, B'lore to prepare and appear for the CFA L1 exam in Dec 2011. I'm a B.Com (H) grad and have 6.8 yrs of overall experience. I'm studying hard for the CFA (USA) exam and plan to complete the entire course by June 2013 (L1 - Dec 11, L2 - Jun 12 & L3 - Jun 13). Idea is to complete the course and make foray into IBs (non necessarily aiming for BB) or Hedge Funds.
I do not have an MBA and was not aiming for one at the moment. I was under the notion that the CFA coupled with my past experience could get me into Middle office or mid-market jobs in places like Grand Cayman, Guernsey, Isle of Man, Luxembourg, etc in IB related domains.
However after reading your entire thread I'm a bit confused as to whether I have chosen the correct path for myself. Kindly advise.
... I do not have an MBA and was not aiming for one at the moment. I was under the notion that the CFA coupled with my past experience could get me into Middle office or mid-market jobs in places like Grand Cayman, Guernsey, Isle of Man, Luxembourg, etc in IB related domains.
However after reading your entire thread I'm a bit confused as to whether I have chosen the correct path for myself. Kindly advise. ...
I spoke to couple of people and they were unaware of any significant investment banking activity happening in the places you've listed. As is, I have no advice to offer on this.
First of all, thank you very much for your valuable advice that you are giving for free to all of us who are interested in investment banking. I am a B.Tech grad from IIT Bombay and working for an MNC as a support Engineer since last one year. My question to you is very basic: how should I proceed to get into investment banking? I know doing MBA from a good school would be your most probable answer. But I want to gain experience as an Analyst first before planning for an MBA. I am sure I would be counted as a fresher in this field. What kind of certifications will help? Will PRM add any value? And I am not aiming for the top I-banks but middle-bracket or even boutique firms to begin with (my acads were quite bad for me to secure a place in top I-banks).
I am sure you have already written a book on whatever you are talking on this thread. If not, dont wait, Please get started. This is one thread which got me stuck for more than the average time I spend at any other. Thanks a ton for creating the thread. Its one unique stuff out here on PG.
Now, Questions for you: 1. Info on IB and Consulting: Please suggest me some good book on IB and consulting. I plan to do an MBA in near future and before i get in anywhere I wanna read one books each on these two subjects that has all the fundamentals".
2. Profile: Also, I am just another techie with average acads throughout with miminal extra curricular activities and least involvement in NGOs. Having said all that, I do work for an IBank currently. For numbers, I have around 7 years of experience in IT. I am planning to get into ISB next year. What would you suggest? I know it has nothing to do with what you are sharing on this thread, but I am sure, with the kind of exposure you have, you can give me some good advice.
is the course of post graduate diploma in securities market form iicm worth it after an mba or a cfa would be a better option?and also is that diploma course recognized?
a lot of those jobs are in the firms' Global Resource Centres - i.e. glorified KPOs.
)