Thanks for your previous reply.Just a question in mind,do clearing CFA (Level-I and II) along with MBA can help make my resume sound better in getting in investment banks?I'll join MBA next yr. september.So,got some time for atleat level-I.Would like to know your suggestion.
RiaSingh SaysThanks for your previous reply.Just a question in mind,do clearing CFA (Level-I and II) along with MBA can help make my resume sound better in getting in investment banks?I'll join MBA next yr. september.So,got some time for atleat level-I.Would like to know your suggestion.
Hi RiaSingh,
Frankly speaking, CFA will be of no help if your sole target is IB. In fact, I-Bankers have a little bit of dislike for CFA people, I guess.
CFA is for people who are interested in the Investment Industry (read Portfolio Management or Buy Side). CFA L1 requires nearly 250 hours of study. If you want to go for IB, I'd recommend utilize those 250 hours for networking because it matters a lot in IB. CFA makes you a super analyst (after L2) not an I-Banker. Also, clearing L1 won't give you an edge, clearing L2 has its advantages. You might want to consider an internship or getting some relevant work-ex, so you can put that on your resume. That will be a booster.
There is an awesome website on IB. You should definitely read as many articles as possible. I'd suggest read all of them! You'll get to know a lot about IB and I-Bankers. First you need to research about the field you want to opt for and requirements for the same. This site can provide you a lot more than you can think of (now I am selling it ;))
I hope this helps. Keep exploring!
Hello Jamiroquai ,
My Profile goes like this:
10th-80%
12th-81.4%
B.Tech-80%(Non IIT Non NIT)
Workex:1 Year in a IT firm(6.5l)
I would like to know your opinion whether i have any chance of getting IB Front end if i make it to one of the Tier-I college or should i take up finance from Top 15 ..as i will never be getting Front end in IB once i get into Back End so will i have any chance of getting front end even with this 😞 profile.
I will be doing NCFM and enrolling for CFA(L1) once i get enrolled in MBA.
Please Help.
Thanks in advance
hii puys,
i have completed my graduation B.Com (Banking & Insurance)...right now i m preparing for my MBA enterence...if i get into top B-School in india i will b applying for CFA (USA) L1 so by the time i will complete my 2 years of MBA i will b CFA L2 pass out (assuming that i clear both the levels in first attempt)...now will MBA (finance) + CFA L2 help me get a good job in IB or consultancy firm? what is the starting salary that i can expect? i have no prior work-ex
hii puys,
i have completed my graduation B.Com (Banking & Insurance)...right now i m preparing for my MBA enterence...if i get into top B-School in india i will b applying for CFA (USA) L1 so by the time i will complete my 2 years of MBA i will b CFA L2 pass out (assuming that i clear both the levels in first attempt)...now will MBA (finance) + CFA L2 help me get a good job in IB or consultancy firm? what is the starting salary that i can expect? i have no prior work-ex
Let's take one step at a time... 😃 If you can do all of these things you will get the best salary in the market. That being said - you cannot accurately predict the exact amount, no matter how hard you try.
Good luck, looks like your plan has a lot of moving parts.
Re- posting it please reply
Hello Jamiroquai ,
My Profile goes like this:
10th-80%
12th-81.4%
B.Tech-80%(Non IIT Non NIT)
Workex:1 Year in a IT firm(6.5l)
I would like to know your opinion whether i have any chance of getting IB Front end if i make it to one of the Tier-I college or should i take up finance from Top 15 ..as i will never be getting Front end in IB once i get into Back End so will i have any chance of getting front end even with this 
profile.
I will be doing NCFM and enrolling for CFA(L1) once i get enrolled in MBA.
Please Help.
Thanks in advance
Re- posting it please reply
Hello Jamiroquai ,
My Profile goes like this:
10th-80%
12th-81.4%
B.Tech-80%(Non IIT Non NIT)
Workex:1 Year in a IT firm(6.5l)
I would like to know your opinion whether i have any chance of getting IB Front end if i make it to one of the Tier-I college or should i take up finance from Top 15 ..as i will never be getting Front end in IB once i get into Back End so will i have any chance of getting front end even with this
I will be doing NCFM and enrolling for CFA(L1) once i get enrolled in MBA.
Please Help.
Thanks in advance
Hey,
Very frankly, given your kind of profile , it will be very tough for you to get a shortlist in summers in any of the top 3 iims (where most of the foreign ibd positions are). Though I wont rule out the possibility because I have seen the randomness in shortlisting myself. That said, if you are able to manage a really nice grade point then you can have a fair shot during the finals but the IB openings are lesser and mostly restricted to India.
There is a possibility of doing a summer/finals in IBD in any of the boutique firms though and people can move to a BB after some years (very rare like Jamiroquai always says)
Apart from the top three iims, there will be much lesser vacancies for front end IBD positions in any other college.
Thanks for the reply but will NCFM or CFA(L1/L2) help? as i m desperate to make it to IBD(Front End) experience in IT also will not contribute much to the profile i guess.Previous mistakes are gonna haunt me badly.
maverickpankaj SaysThanks for the reply but will NCFM or CFA(L1/L2) help? as i m desperate to make it to IBD(Front End) experience in IT also will not contribute much to the profile i guess.Previous mistakes are gonna haunt me badly.
I am really not sure. CFA will definitely be an add-on.
However, if you really want to get into front end IBD you can come with an open mind, willing to work for a boutique firm as well (focus on the role and not the firm). Once you are in the industry, you can definitely move up the ladders like I said earlier.
I apprecciate jamiroquai, your efforts to help newbies like us.
I am doing CA and have already passed my IPCC. I am also simultaneously pursuing B.Com and am in my sophomore year.
1.I am right now in first year of articleship in a small firm. But i have option of industrial training in the third year. Do BBs take CA students for industrial training?
2.If yes how can i get in as i dont have any contacts?(This is reason i am doing articleship in a small firm)
3.Is MBA necessary for me to get into bulge bracket investment bank?I am asking this because i am going to become CA after 3yrs, that too if i pass after in first attempt. I want to do MBA but i want to know whether it is worth the risk and efforts after becoming a CA?
4.Will other courses like CFP,FRM etc. facilitate me in getting into this field?
I am interested in hardcore finance and that is why i want to get into investment banking.
How are the following companies in terms of BB,Boutique and etc and please provide insights or oversights about them :)
1.Edelweiss
2.Ambit Capital
3.Nomura
What are their payscales,level and others?
1.Edelweiss
2.Ambit Capital
3.Nomura
What are their payscales,level and others?
hi jamiroquai,
sent u a pm...please check
I apprecciate jamiroquai, your efforts to help newbies like us.
I am doing CA and have already passed my IPCC. I am also simultaneously pursuing B.Com and am in my sophomore year.
1.I am right now in first year of articleship in a small firm. But i have option of industrial training in the third year. Do BBs take CA students for industrial training?
2.If yes how can i get in as i dont have any contacts?(This is reason i am doing articleship in a small firm)
3.Is MBA necessary for me to get into bulge bracket investment bank?I am asking this because i am going to become CA after 3yrs, that too if i pass after in first attempt. I want to do MBA but i want to know whether it is worth the risk and efforts after becoming a CA?
4.Will other courses like CFP,FRM etc. facilitate me in getting into this field?
I am interested in hardcore finance and that is why i want to get into investment banking.
John, I'm sorry but I don't know much about the CA program. BBs don't normally touch vanilla CA students. An MBA would be essential to coming anywhere close to a BB.
The CFP and FRM are courses that serve a very specialized part of the middle office of the investment banking industry
Re- posting it please reply
Hello Jamiroquai ,
My Profile goes like this:...
Please Help.
Thanks in advance
Once again, guys, I don't do profile evaluations, because of two reasons:
(a) My saying so doesn't increase or decrease the odds of you becoming a banker
(b) They're too much of a drain on my already short free time availability
hi jamiroquai,
sent u a pm...please check
Hi Apaar, I haven't received your PM, but if it's a question about general investment banking, why don't you share your question here on the thread where everyone can benefit from the information?
Thanks
hi jamiroquai, i have read the entire thread religiously, and all the best for your internship.
i have some questions, would be grateful if you can take some time of your busy schedule
1. How will you compare S&T; and IBD, on salary(inc bonus), working hours, exposure to clients. do cos give S&T; in india?
2. I have seen GS giving 26-32 lpa CTC at XL, FMS, I, K, L that is there highest domestic offer, do you think this is front end? as you said front end ppl get 40-60 lpa as a first yr analyst.
3. which course will you prefer FRM or CFA to get a good internship in IBD or management consulting in a top 10 b-school of india
4. does IB also considers prev acads like 10, 12th and grad, while recruiting, i dont have a very good one, say if i manage 9/10 GPA at the time of placement will it cover by prev acads?
(As i have heard consulting do give prev acads a heavy weight)
5. How easy is to move from consulting(Management) to IBD, and vice versa.
6. what is the aprox ratio of front end vs. back+middle end employees in investment bank.
7. what is the scope of IB in india, and how to judge the league of the bank, i mean if i go to there websites dey dont give the value of their deals.
8. How easy is to start a boutique capital and license wise, after say 10 yrs of experience in BB or MM)
regards.
sorry for asking too many ques
take ur time in answering, i know u have a tough schedule to keep.
hi jamiroquai, i have read the entire thread religiously, and all the best for your internship.
Thanks - I got done with my internship a while back :)
...
1. How will you compare S&T; and IBD, on salary(inc bonus), working hours, exposure to clients. do cos give S&T; in india?
If you understand the concept of beta - think of S&T; as a higher beta than IBD, both in terms of bonus and job security
2. I have seen GS giving 26-32 lpa CTC at XL, FMS, I, K, L that is there highest domestic offer, do you think this is front end? as you said front end ppl get 40-60 lpa as a first yr analyst.
These are typically not front-office jobs and the GS team works in Risk which I would classify as a middle-office non-client facing role
3. which course will you prefer FRM or CFA to get a good internship in IBD or management consulting in a top 10 b-school of india
I'd take the CFA in my shot at IBD / MC
4. does IB also considers prev acads like 10, 12th and grad, while recruiting, i dont have a very good one, say if i manage 9/10 GPA at the time of placement will it cover by prev acads?
(As i have heard consulting do give prev acads a heavy weight)
IBD isn't so fixated on grades - more on what you bring to the table in terms of how hard you're willing to work and how well you'll be able to get your clients to like you
5. How easy is to move from consulting(Management) to IBD, and vice versa.
IBD->MC, tough switch, can be done at either very senior levels or very junior levels
MC->IBD, cannot be done at a senior level, possible at a very junior level
6. what is the aprox ratio of front end vs. back+middle end employees in investment bank.
I'd say 2:5
7. what is the scope of IB in india, and how to judge the league of the bank, i mean if i go to there websites dey dont give the value of their deals.
This is a difficult one, I used to base my decisions based on hearsay and newspaper reports on dealsize.
8. How easy is to start a boutique capital and license wise, after say 10 yrs of experience in BB or MM)...
It's India, licenses are always an issue. Capital-wise, you need to be able to pay rent and salaries for a year (without hopes of even breaking even or generating any business) for atleast 3 senior people in order to start your very own do-it-yourself IB firm in India.
Once again, guys, I don't do profile evaluations, because of two reasons:
(a) My saying so doesn't increase or decrease the odds of you becoming a banker
(b) They're too much of a drain on my already short free time availability
a) Yes but you are having knowledge of IBD that is why wanted to hear from an expert about choosing something which i have no knowledge from any source.(That is why anxious
)b) Yeah i understand it completely that you have lots of things to look into:-(.
Thanks anyhow.:)
Jamiroquai SaysThanks - I got done with my internship a while back,,,,,,,,,,,It's India, licenses are always an issue. Capital-wise, you need to be able to pay rent and salaries for a year (without hopes of even breaking even or generating any business) for atleast 3 senior people in order to start your very own do-it-yourself IB firm in India.
thnx a lot for your valuable reply,
that means unlike in a normal retail bank (where we have to deposit a large amount at RBI, as a security deposit, this is in the range of 1 cr to 10cr)
this is not there in case of investment bank???
Jamiroquai, how is Tresvista and Grant Thornton for IBD ? they offer valuation & advisory services.
In India how often do people switch from the above mentioned firms to BB offices like JPM, MS, Citi, DB ?