Jamiroquai, i dont doubt your calibre to be in IB. If you think that then you have got me wrong in that sense.
Now, you are saying that BBs in India "look for great candidates". They are fixated on great MBA degrees, sometimes they make exceptions and hire exceptional non-MBA candidates.You mean to say generally only MBAs from tier 1 mba schools are smart enough to deserve that.
I think even you know how connections can be a big advantage in India-from getting admission in a good college to getting a job.
I am doing CA and last year i started with my articleship. Something really astonished me was that all big audit firms including BIG FOUR induct 90% of the articles through reference.Bigger the reference, better the chances. Some really dumb people have also got into BIG FOUR whereas some rank holders are rotting in mid size firms.
I am not,by any chance, saying that people in BBs are not deserving but there are also other deserving people,some infact more,who couldnt get into it.
As far as love for finance goes, i wouldnt be on this forum if i dont love it.
P.S.- I am just trying to have a healthy discussion with you to know about the ground realities.
FuRoRe Says@Jamiroquai : - Sir, I know you 're not from S& T.. But could you tell us more about it? I mean whatever you'd know would be great stuff for people like us to know. What is the work like exactly and how do compensation packages vary and also how do you get into a bulge bracket S& T profile?
I am not an authority. But have a bit of experience of working in a Prop-shop as a Trader in US markets. U can expect huge pressure as well as huge money
If you are among loss makers, there can't be worst profession than Trading and if you are a profit earner, there can't be a best profession than it.
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.
Lol. And you are quoting the Wall Street Journal on this issue.....a publication that needs wall street for its bread and butter.
Also, lol at you painting the entire movement with a single brush based on a few incidents. Was the Indian freedom movement also a bunch of "insert random insult" considering the "chauri-chaura" incident???
Know that noted figures such as Noam Chomsky, Paul Krugman and Joseph Stiglitz support this movement. They know far more than you.
For people who want more information, read up on "Of the 1%, by the 1%, for the 1%" by Joseph Stiglitz.
So please keep this thread about investment banking and try to not insert your uninformed and convoluted Neo-Liberal mindset and agenda into your posts. Also, try and keep the personal insults to a minimum. Your privileged position had given you a bit of a shield against criticism, but don't stretch it.
Lol. And you are quoting the Wall Street Journal on this issue.....a publication that needs wall street for its bread and butter.
...
Hey man, I'm sorry you found my posts too harsh. You have shown me the error of my ways. I promise to write my posts to your levels of high standard and reflect the genuine warmth and goodwill that all your posts carry.
Jamiroquai SaysHey man, I'm sorry you found my posts too harsh. You have shown me the error of my ways. I promise to write my posts to your levels of high standard and reflect the genuine warmth and goodwill that all your posts carry.
You are successful, this thread is useful, and you give good, practical advice. And I was going to ask your take on certain corporate lines of work which have confused me a bit.
But the occupy wall street movement has a certain basis in reality which you seem to deny. Vehemently. And now sarcasm.
Hey Jamiroquai,
Request you to reply to my querry as well when you get a chance.
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)
Hi Jamiroquai, thanks for these useful posts. Really very inspirational and motivating.
I am working in IT sector and will be having two years of experience by the time I join any good MBA college mentioned by you at the starting of this thread. But finance is the field where I want to be.. In college also, kept on studying financial magazines and newspapers which cost me low CGPA and I landed in IT field. :-(
Is it possible for me to move to Investment Banking profile if I get admission to a good MBA school famous for finance ? I am really worried about this, want to do MBA just for getting into financial sector as Investment banker or credit analyst profiles ? 
And in case, I don't get admission this year what should I do for making my profile better for financial sector till next year as by then I will have three years of IT experience ? Do you suggest any professional courses or certifications related to finance ?
Please help!! Thanks a ton in advance. 😃
akashkedia, sss4cat:
I'm travelling all of this week. I will try and squeeze out some time real soon to get to your questions. 
There's also a bond question that I need to get to - but keep getting sidetracked for some reason.
hi friends as a you have insight into the banking world and i am having access to some of the best mind in the country through this platform i want to ask something which you people might quote as stupid
i am having average acaeds and i know my limitations but i know i have somthing in me to be an investment banker my query is i had a pathetic cat score of 76xx and i am looking for mba from nibm pune the mecca of banking,created by rbi now they will place me in a psu, so can i with decent experience in psu can switch my job and atleast try to realize my dream.... am i on the right track
john565660 SaysGlobal banks cut jobs in India at ruthless pace - The Times of India
M&A; and capital market activity is at an all-time low worldwide. Even after the credit crisis of 07-08, I haven't seen such a despairing outlook on global securities as is visible today.
Hi, I know i am asking a silly question, but neverthelesss, Do investment bankers work in a team or its an individual job where you are paid according to the deals you cut in?
On a typical deal, the staffing comprises of an MD, a VP / Associate and an Analyst. Sometimes, there's no MD staffed on the deal.
You're paid a fixed salary, and then your bonus is a function of the volume and quality of your work.
...Is it possible for me to move to Investment Banking profile if I get admission to a good MBA school famous for finance ? I am really worried about this, want to do MBA just for getting into financial sector as Investment banker or credit analyst profiles ?
And in case, I don't get admission this year what should I do for making my profile better for financial sector till next year as by then I will have three years of IT experience ? Do you suggest any professional courses or certifications related to finance ?
Please help!! Thanks a ton in advance. :)
Short answer: yes, it's possible, but you need to do extraordinarily well during your MBA program at the 'good' MBA school. Given the market softness, I don't really know what you should do to better your profile before you join MBA school. That means you'd better work your butt off to get in this year!
...
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.
...
My story has already been discussed earlier in the thread, akash - you're gonna have to put some elbow grease into finding it.
From two pages ago, you will see that I am strongly in favor of getting a couple of years of TAS work at any of the big4 to bolster your CV.
Hi Jamiroquai,
I have got 98.8 in CAT this time and I am very much interested in doing my MBA in finance as I am really interested in finance.. currently working in TCS for last 16 months, I appeared for CFA international but failed in band 9, but I have learned a lot during its preparations.
My query is during Interview I would be asked 2 ques:
Why Finance..
Why Finance now, when there is such a crisis going on in the banking world, global banks cutting tis workforce and all..
Can you please throw some insights as what should be a proper ans to this (specially the 2nd ques).
Thanks!! :)
P.S: Kudos to the selfless work you are doing. Good Luck! 😃
My story has already been discussed earlier in the thread, akash - you're gonna have to put some elbow grease into finding it.
From two pages ago, you will see that I am strongly in favor of getting a couple of years of TAS work at any of the big4 to bolster your CV.
W.r.t TAS work you have been suggesting, shall it help me getting in as an associate rather than an analyst post MBA into the IBs ?
Also, talking about the exit opportunities from IB, I have read that it is very difficult to enter into PE if you are already an associate at a BB. Could you throw some light on this w.r.t India and abroad ?
Thanking in advance
Akash
My story has already been discussed earlier in the thread, akash - you're gonna have to put some elbow grease into finding it.
From two pages ago, you will see that I am strongly in favor of getting a couple of years of TAS work at any of the big4 to bolster your CV.
W.r.t TAS work you have been suggesting, shall it help me getting in as an associate rather than an analyst post MBA into the IBs ?
Also, talking about the exit opportunities from IB, I have read that it is very difficult to enter into PE if you are already an associate at a BB. Could you throw some light on this w.r.t India and abroad ?
Thanking in advance
Akash
My query is during Interview I would be asked 2 ques:
Why Finance..
Why Finance now, when there is such a crisis going on in the banking world, global banks cutting tis workforce and all..
Can you please throw some insights as what should be a proper ans to this (specially the 2nd ques).
Thanks!! :)
...
I am only going to help answer the second question - because the first one is something you need to think up on your own.
A strong answer would be along the lines of - In spite of the current turmoil in finance, you still want to get into this field because you've had a little taste of it thru' the CFA and you're passionate about it. And this is what you want to do for the rest of your career. And irrespective of whether there's big money at the end of the road, you just wanna be in this space.
Buddies i have a query of my own. Here's my profile :
10th : 79.8%
12th : 57.6%
B.tech : 66.4% (fresher)
CAT 2011 : 92.5 %ile
As if it wasn't already difficult enough for a computer engg like me to make a switch to finance somebody advised me that it won't be ideal for me to choose finance in MBA as it'll pose massive problems (like not eligible for major financial companies/profiles) for me during placements owing to my dismal acads. For me finance has been the only choice as my MBA specialization since day 1 but of course i don't want myself to be rejected by my dream companies just cuz of my past. I realize that even if i work hard during my MBA i won't be eligible even if they put up a consistent 60% criteria. I have plans to start my CFA level 1 after an year to strengthen my profile. I want to take an informed decision as i'll be investing close to 10 lakhs and 2 years of my life. What do you suggest guys ?