Investment Banking in India and Abroad

Jobs & Careers
499
RiaSingh Says
Sir...


Are you sure this is an MBA? The format doesn't seem to be anything I would recognize. Usually, if you get an MBA in the US, you move into an investment bank in the role of an Associate.

Also, I think that neither of these options will get you in as an Associate in a BB.
500
Note: I work in a BO. I don't have a FO job so what i may type below may well be useless.
target IIMC Says
Sklar the aim is IB (front off) for which i aim iim and cfa - if you hv something better than cfa you can suggest or something to start off wid . i thought cfa books or prep would be good to start (apart from cat prep which is obvious)


With the way recruiting is going on & with the way people expect recruiting to turn out, focus on CAT . If you truly do have the time to devote to finance take a peek at FRM. You are an Engg. FRM may be more useful to you than CFA. ( trading, middle office, quant research, Fixed income / derivative strategies) read Traders , Guns and Money by Satyajit Das.There's a pdf available online.

But focus on getting into IIM's only if you want to get into IB FO.
501

Thanks.

1. But again when you compare the IIMs, XL and FMS are better than the newer ones, some say they are on par with L and even beat K and I.

2. So, among IIMs is there any difference between LKI, Raipur, Ranchi and ABC or its the brand of IIM which matters.

3. You mentioned the payoff will be for the rest of my life. What sort of a payoff will the IIMs get me? Can you give any instances?

4. And I am not an IITian so is that a problem considering front-office roles are for those from elite institutions

502
Thanks.

1. But again when you...


I think your questions belong on a different thread. I was hoping to keep this one restricted to investment banking in India and abroad.
503

Thats an awesome question??

504
Hi,

I guess this one statement should clear the one doubt most people have "Can I break into IB with my background etc?" Well, getting into IB depends a lot on the B-school you are in, because BB firms hire almost exclusively from the best B-schools. Having a prior Finance experience/qualifications will help you in getting a shortlist but then no more - it will be up to you then.

So if you can get Finance work-ex/qualifications well and good, but above all - concentrate on getting into the Best B-school that you can get into!


So echoes ...If right now I am having software job during which I plan to Clear first 2 levels of CFA and then I do MBA from let say IIM A,B,C XLri then I can increase my chance to get shortisted for IBanks (or It doesnt matter much if I do CFA or not ,considering I am from non -FIN background) ......
Please suggest ur opinion as I m in dilemma to invest such grandsome amount for CFA fees OR chuck the exams and just gain the knowledge by studying the material ??
505

@Jamiroquai

Hey man,
hope you have been good.
How easy/difficult is it to move from an equity research role to an IBD ? Apparently equity research is the only capital markets role which offers some sort of exit options.

506
The person who wrote this wiki article is wrong. S&T; is not banking. To elaborate - while S&T; is one of the many things that an investment bank does, so too are treasury activities. This does not mean that treasury activities are the bank's primary revenue generating lines activities. Advisory and Capital raises are the primary revenue generating lines.


It is a better form of experience than, say, IT or engineering. And post-MBA, a great help in scoring those jobs. However, without an MBA, nopes.


This depends entirely on you perform in your interviews.


Yes, once again thru the magic of the MBA.


Well, to make best use of your time, try working thru' CFA L1 and L2 (no need to write the exams). Those are very solid skill sets to have before you enter MBA school and will serve you well to put you at the top of your class is the core finance and accounting classes.



HI, First of all i would like to thank u for taking out so much time and helping us throgh counselling.Ur altruism is deeply appreciated.
I was considering the same that before making it to B-School I will equipped myself with CFA-level1,CFA-level2 material..,But I just have a doubt that is it necessary to give exams and get certificates OR strong and deep knowledge of this CFA contents is enough to get shortlisted for I-Banks(considering I wrk in a software firm hence I dont have any prior wrk ex in Finance and I am a passout of NITK ).Please suggest ur opinion ASAP as I need to Book my CFA-level 1 and start making arrangements for the huge fees....I am just trying to avoid 60K investment if its unnecessary even I am not much sure how CFA studies are in alignment with IB .what i know is CFA is more of ASSET /PORTFOLIO management ..??THanks in Advance
507
laconic Says
HI, First of all i...


Do the CFA, it looks good on the resume and will give you a solid understanding of what finance & accounting is like.
508
NOTE: Things have started hitting the fan in finance, so i could well be ranting about below

I hate to bring bad news but all you wannabe bankers here posting questions about how to get into finance, first read Bloomberg's top read news. This Greece/ Italy/ EU mess is getting out of control.

How many bankers are getting their bonuses differed? how is hiring going on in HBS/Wharton/ Columbia ?
How many small brokerages have had to shut shop in Mumbai and over the world ?

If i was guy leading a small Advisory shop the first thing i would think right now is how i can cut costs and increase revenue. Not pay another MBA lahks of Rs (interns may have it easier ,they come cheap). The jobs that are in finance right now are in institutional sales. Thats it.

Unless you have previous relevent work ex, do not rely on CFA levels to get you in.

Its really ultra competitive right now.Maybe just like 2000-01 all over again or worse.
509

I am a CA student.My final is due in May 13.My dummy articleship will finish
in April 2012.I want to do int.CFA after my CA. I am thinking of cancelling
my articleship and doing affresh 3 year articleship from a good firm.I
have now two options-
option 1: To complete my CA in May 13 exams and then go to an
Investment based company to do training required for Int.CFA.
Option 2: To do articleship affresh for 3 years and become CA in 2015.
Query: I have heard that if I have not done my articleship perfectly
in a good firm then I will not get a job atleast not in a Investment based company.

510

Thanx Jamiroquai......fr all the info....



P.S.-The best part "Be it good/Bad..U tell it on the face..."

:cheers:

511

Hey Jamiroquai

Great initiative on your part...looks like this is the WSO of Indian IB.

I have done my masters (not MBA) from Europe and have IB internship. However, the situation here is gloomy and i am thinking of wrapping up from here. Some queries:

1. does cold call/email way of networking work in India?

2. any good e-resource you would recommend to compare salaries across BBs/MMs and boutiques in India? (something like glassdoor)

512
...
I have done my masters (not MBA) from Europe and have IB internship. However, the situation here is gloomy and i am thinking of wrapping up from here. Some queries:

1. does cold call/email way of networking work in India?

2. any good e-resource you would recommend to compare salaries across BBs/MMs and boutiques in India? (something like glassdoor)


My two cents:
Do the internship. Foreign experience matters like nothing else
1. Networking might - not so much cold calling. What matters a lot in India is who you know
2. Out here in the West, you've probably had a chance to take a cold look at how networks work. You've probably figured out that Indians, in general, are not very good at sharing resources or information. Salaries are closely guarded secrets and are status symbols for us. So even if they had people report them in India, self-reporters would be those who've got higher-than-median salaries or are exaggerated numbers
513
My two cents:
Do the internship. Foreign experience matters like nothing else
1. Networking might - not so much cold calling. What matters a lot in India is who you know
2. Out here in the West, you've probably had a chance to take a cold look at how networks work. You've probably figured out that Indians, in general, are not very good at sharing resources or information. Salaries are closely guarded secrets and are status symbols for us. So even if they had people report them in India, self-reporters would be those who've got higher-than-median salaries or are exaggerated numbers


Jamiroquai, I haven't got any BSDs in my IB network in India. What I have in Europe, they have limited influence in India ops, as things are done "differently" there. So, I will have to go for cold emailing and setting up camp in Mumbai. Anyways, a couple of follow ups:

1. what is the base comp for BB/MM/Boutiques in India? I think boutiques and BBs shouldn't be comparable, however wanted to have an idea

2. having a prior IB internship in Infra, would you say I can knock some PE doors as well?
514

sir,
I am interested in Treasury Management and want to be employed by BB investment bank.I am going to pursue my MBA from Michigan U.S.The institute provides 11 months of paid internship but not tied up with any investment bank.There are 2 options for me to do internship in financial management,
1.As analyst in State bank of michigan OR
2.Treasury Management from any manufacturing company.
My question is should I go for State bank of michigan as it sounds bank OR
Should I concentrate in function(Treasury Management) rather than industry.It's a clear question like Function is more important or industry during internship??
Thanking in Advance
Ria

515

Hi Jamiroquai,

Iam working as a po in sbi for past 3 years.prior to that i have 2 years experience in it sector.now i am planning to do an executive mba from iim a/b/c.i want to ask are executive programs of iim's are good enough to secure a job as IB or only PGDM students are preferred

516

Sorry guys, I've exams coming up so am gonna be very terse -

sir,
I am interested in Treasury Management and want to be employed by BB investment bank.I am going to pursue my MBA from Michigan U.S.The institute provides 11 months of paid internship but not tied up with any investment bank.There are 2 options for me to do internship in financial management,
1.As analyst in State bank of michigan OR
2.Treasury Management from any manufacturing company.
My question is should I go for State bank of michigan as it sounds bank OR
Should I concentrate in function(Treasury Management) rather than industry.It's a clear question like Function is more important or industry during internship??
Thanking in Advance
Ria


Neither will allow you to transition to BB investment banking. Treasury is nowhere related to investment banking, nor is retail banking. However, if you need to choose as to which one is better in terms of bringing you closer to high finance, treasury is the way to go.
517
Jamiroquai, I haven't got any BSDs in my IB network in India. What I have in Europe, they have limited influence in India ops, as things are done "differently" there. So, I will have to go for cold emailing and setting up camp in Mumbai. Anyways, a couple of follow ups:

1. what is the base comp for BB/MM/Boutiques in India? I think boutiques and BBs shouldn't be comparable, however wanted to have an idea

2. having a prior IB internship in Infra, would you say I can knock some PE doors as well?


1. It vastly differs. Am gonna talk at Associate level even tho' IIMs place you only at Analyst level. These are base figures and don't include bonus
BB - 30-35 Lacs
MM - 10 Lacs

2. I don't know what your internship consisted of, and what you learnt. But if you're talking about well-known PE names in India, you will need a lot more than an internship. Some of the PE guys I know in India are HBS Baker Scholars!
518
Hi Jamiroquai,

Iam working as a po in sbi for past 3 years.prior to that i have 2 years experience in it sector.now i am planning to do an executive mba from iim a/b/c.i want to ask are executive programs of iim's are good enough to secure a job as IB or only PGDM students are preferred


You will have to ask echoes this question.