hey jamiroquai,
I am a CA student (doing training in Deloitte Kolkata) with my finals due in Nov'2012 and a national rank holder at both the Foundation and Inter levels (giving this info to help you know me better while you answer my question). I am also pursuing CFA (USA) and expect to clear L2 coming June and L3 in June 2013. I was also the topper in my college (although not a very famous one) in Kolkata.
Eventually, I want to get into PE or Venture Capital in India or Dubai, etc but not in the US, etc.
For doing that I have thought of getting a one year work ex after CA and then go on to MBA from an IIM or ISB whichever I can manage. After MBA, based on my reaseach I understand that I could get in PE directly and may be need to do an IB for a further 1-2 year before being able to get into PE.
From your previous posts, I understand that getting into a front office role in leveraged buy out, M&A; or restructuring would be the most relevant.
My first question is that based on your knowledge, if i clear CA final one shot and with/without a rank, shall i get chance to get into such a role with a BB in India ?
Secondly, is the path to get into PE E or Venture Capital at my desired locations correct ?
P.S. I have read more than 25 pages of this thread and this thread along with a site 'Mergers & aquisitions.com' seem to be the best information available on IB and PE to some extent as well. I thank you very much and your effort is highly appreciated by many more than the number of thanks u can see here.
akashkedia2002 Sayshey jamiroquai...
akash, as you've probably read, I'm not doing profile evaluations. Your thought process about getting into PE/VC seems to be on-track.
Jamiroquai Saysakash, as you've probably read, I'm not doing profile evaluations. Your thought process about getting into PE/VC seems to be on-track.
yes..I did...and am not looking for an evaluation of my profile..
I wanted to rather know that given my profile...how do i break into investment banking in the desired groups after qualifying for CA around Feb 2013 with the kind of profile I have ?
I am asking this question as networking is not my strength based on my background and contacts at present.
Hence, the question.
yes..I did...and am not looking for an evaluation of my profile..
I wanted to rather know that given my profile...how do i break into investment banking in the desired groups after qualifying for CA around Feb 2013 with the kind of profile I have ?
I am asking this question as networking is not my strength based on my background and contacts at present.
Hence, the question.
Okay. The answer to your first question is no. A BB would not hire you without an MBA.
This is a great article by the Wall Street Journal on the state of our nation. Unlike most of our Times of India articles which are clearly written by someone with only a journalism degree (and hence the writer is unable to discern fact from hype), here the reporter seems to be able to understand basic economics:
Review & Outlook: India Revisits the '70s - WSJ.com
Be forewarned, however, that while this is a good quality article, an equal number of WSJ articles are pure BS.
Jamiroquai SaysOkay. The answer to your first question is no. A BB would not hire you without an MBA.
Ok...thanks....and then can you tell me the most relevant experience i could get after CA and before MBA so that would lead to my goals ?
hi :)
1. came across something like M.S in Invstmnt Bking from Univ of westminster, london. Is such qualification at par with MBA from IIMs or am I kidding?
2. btw, received rude shock when u said many articles in WSJ are pure BS. I was big fan of articles appearing in WSJ - had high regards for them. 😞 anyways, not much of an issue.
thanks
Sorry for the spam, but I visited this discussion after 6 months today, and its still going strong.
Kudos to J!
Sorry for the spam, but I visited this discussion after 6 months today, and its still going strong.
Kudos to J!
And 59 pages too!
hi :)
1. came across something like M.S in Invstmnt Bking from Univ of westminster, london. Is such qualification at par with MBA from IIMs or am I kidding?
2. btw, received rude shock when u said many articles in WSJ are pure BS. I was big fan of articles appearing in WSJ - had high regards for them. 😞 anyways, not much of an issue.
thanks
Point 2: To be completely fair, the WSJ authors are more on target than not on issues. Where you need to draw the line is between the facts and opinions. Most serious business people read the articles for the information provided. And more often than not, WSJ seems to be able to interpret data correctly.
I've seen the Economic Times guys get the facts wrong a bunch of times too; as well as fall prey to a bunch of their own stories. It's just terrible.
Point 1: No way is it comparable. You might as well do the "School of Investment Banking" course in Mumbai. LOL.
akashkedia2002 SaysOk...thanks....and then can you tell me the most relevant experience i could get after CA and before MBA so that would lead to my goals ?
hey Jamiroquai,
Please give an answer to my question as well
Thanking in advance !
hey Jamiroquai,
Please give an answer to my question as well
Thanking in advance !
i think three years at an investment bank would be great experience post-CA, which is achievable if you're a rank-holder
A little in advance - A very happy new year, everybody. May you find all the success and luck you'd wished for in this incoming year...
@ jamiroquai..plz reply to my private message that i sent u....1
Happy New year guys, May we all live through interesting times.
1.How would you rate PwC in IB? I am getting an opportunity to work in PwC as an intern in advisory or work as an intern in mid sized CA firms as an intern in taxation. Which one do you think would facilitate me to get into BB later on?
2.Also right now the IB scenario is pretty grim. All major IB firms are cutting down jobs to save costs. Do you think anyone should aim for BBs in the next five years or try to create a backup with an alternative career?(for example me working as a CA after becoming one).I have read that US government is gonna introduce a lot of regulations in the IB scene so as to reduce their vulnerability to bankruptcies. Is the situation gonna really improve in IB?
1.How would you rate PwC in IB? I am getting an opportunity to work in PwC as an intern in advisory or work as an intern in mid sized CA firms as an intern in taxation. Which one do you think would facilitate me to get into BB later on?
2.Also right now the IB scenario is pretty grim. All major IB firms are cutting down jobs to save costs. Do you think anyone should aim for BBs in the next five years or try to create a backup with an alternative career?(for example me working as a CA after becoming one).I have read that US government is gonna introduce a lot of regulations in the IB scene so as to reduce their vulnerability to bankruptcies. Is the situation gonna really improve in IB?
I'm assuming you're talking about India, since PwC doesn't really do investment banking in the traditional sense in the US.
PwC's Financial Advisory group is pretty good. I'd say it's the place to be, given that BB's are trimming the fat (and muscle! - look at Nomura!) I think this will definitely put you on firmer footing to get into a BB - but it's not a sure thing since, as I said, BB's love them some great MBA's.
Your question about the rules helping banks can be answered like this:
High Stability = Low Returns
Low returns = lower capital investment
lower capital investment = small operations & scale
smaller scale = even lower returns
this does not bode well for banks since they make their money only when scale is large.
and all of this means = less hiring, smaller teams
I believe that this is a cyclical downturn; you should see an uptick in capital market activity real soon, and with it - a powerful resurgence of the BBs.
I know that high stability will get lower returns but stability is what the government wants.........I mean look at occupy wall street campaign....Its against capitalism they say...They say few bankers cant decide the faith of the nation. Thats why I am thinking of an alternative career........As it is in India IB is on a pretty small scale and smaller teams make it even more competetive.......On top of that BBs in India seem to have an inclination for people with big contacts,so just trying to compete on the basis of merit is really tough................
P.S.-IB is what i would really like to do in future, but circumstances are not always what we want them to be....... I mean if I had been from a rich family then i wouldn't mind spending six more years to just get into a BB.
I know that high stability will get lower returns but stability is what the government wants.........I mean look at occupy wall street campaign....Its against capitalism they say...They say few bankers cant decide the faith of the nation. Thats why I am thinking of an alternative career........As it is in India IB is on a pretty small scale and smaller teams make it even more competetive.......On top of that BBs in India seem to have an inclination for people with big contacts,so just trying to compete on the basis of merit is really tough................
P.S.-IB is what i would really like to do in future, but circumstances are not always what we want them to be....... I mean if I had been from a rich family then i wouldn't mind spending six more years to just get into a BB.
lol - really? You're quoting the "Occupy Wall Street" campaign? Why don't you come by Zucotti Park and see what a bunch of homeless, dirty stinking hippies the "campaign" is made up of. Really! Sexual molestation, rape, drug buying and selling; and general lack of hygiene are things that strike you as you walk by the park. (Today's WSJ has an article about one of the women at the OWS movement who reported to the police that she'd been raped. This was how it went down - in one nite, she had sex with one man, then another man, but rebuffed the third. Then she went to sleep and woke up to find her pants missing and accused an unknown man of rape ). I'd be surprised if these people could list any prime number above 50!
The media, as always, loves to blow up a little bit of drama. So while this seems like a 'movement' - it's just a bunch of dirty hippies who've found a new toy - the 'mic check'. The media glare amplifies this demonstration to seem like a 'movement' - it isn't. Only the homeless are left in Zucotti - banging drums and chanting nonsense while keeping a close eye on their belongings in case other protesters steal from them.
NOW - I spent the first 2.5 years of my career in an Indian BB. I loved finance and I was good at my job. My father was an Indian Naval officer who didn't have ANY connections. The BBs in India look for great candidates. While they are fixated on great MBA degrees, sometimes they make exceptions and hire exceptional non-MBA candidates. Having spent three years in banking and leaving the workforce as a Manager at an Indian investment bank; I believe you're in no position to school me as to whether merit really matters.
While I am appreciative when people say that they don't want to get into banking because they don't have the ability to get in, the stomach to do the hours, or don't like finance in general; i'm extremely tickled by the people who draw up shadow dragons like the "ows campaign" and "only the connected get in". It strikes me as the typical 'grapes are sour' story.
Jamiroquai Saysi think three years at an investment bank would be great experience post-CA, which is achievable if you're a rank-holder
Hi again Jamiroquai...
I have tried to find out connections to get into IBs after your advice but being from a business background..Although I will keep looking...I have not discovered anything of much help as yet..
Can u tell us how did you managed to get in ?
And if I am not able to get into BBs...what else can be a relevant 1-2 year work experience before MBA ? For example : If you have heard of Transaction Advisory Services or Financial Advisory Services of E&Y;, PWC, KPMG (thr Big 4) or others ...... will these be relevant ?
I request you to give as much inputs as you can w.r.t. the pre MBA relevant work experience apart from BBs for a qualified CA in India...and it would be great if you could give it in the order of preference.
Thanking in Advance
Akash Kedia
CA CFA student (Kolkata)