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 ?
I have a similar query Jamiroquai Sir.... I know U are not here for evaluating anyone's Profile,But i have no one to guide me Sir.Plz help me....
My Pathetic Acads --:-(
X- 74 Xii - 68 B.tech (ECE) --64%
CAT'11 percentile 99.61 No Call from A,B,C,I,K,L
US CFA level 1,2 cleared..... GARP FRM Part 1 cleared.........Have 11 NCFM + Flip certifications against my name.Also completed Financial modeling Courses from wall street Training and BIWS(Industry specific courses).Stock market technical analysis course from Innobuzz.
Currently working as A Research analyst in a KPO.......:-(
My question to you is with these Pathetic acads will i be shortlisted in any of the bulge bracket I-banks for summer internship if i manage to get into Top IIM's next year ???
Or should i leave this hope of getting into a top I-bank...?? Sorry for the long post !! But i really need ur guidance Sir.
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 ?
I have a similar query Jamiroquai Sir.... I know U are not here for evaluating anyone's Profile,But i have no one to guide me Sir.Plz help me....
My Pathetic Acads --:-(
X- 74 Xii - 68 B.tech (ECE) --64%
CAT'11 percentile 99.61 No Call from A,B,C,I,K,L
US CFA level 1,2 cleared..... GARP FRM Part 1 cleared.........Have 11 NCFM + Flip certifications against my name.Also completed Financial modeling Courses from wall street Training and BIWS(Industry specific courses).Stock market technical analysis course from Innobuzz.
Currently working as A Research analyst in a KPO.......:-(
My question to you is with these Pathetic acads will i be shortlisted in any of the bulge bracket I-banks for summer internship if i manage to get into Top IIM's next year ???
Or should i leave this hope of getting into a top I-bank...?? Sorry for the long post !! But i really need ur guidance Sir.
Thanks a lot !!
Dude, IIM's dont deserve you, so better do good in your job and after 3-4 yrs of exp apply to US Universities for MBA, as you will be having good exp in analytics IB and CFA and FRM attached to you, u can get Associate level job post MBA, which very very very difficult to get after MBA from India.
and seeing ur %ile in cat, u can easily score 750+ in GMAT which is a very good score for top 10 universities.
But if ur still interested in MBA from India, go for new IIM's, MDI, FMS, XL or any other top 10 b-schools. ur CFA and work ex will get you a nice internship.
remember the shortlisting of companies is not even close to what IIMs do for GD-PI calls, dere short listing is very subjective, dey see ur whole profile
Dude, IIM's dont deserve you, so better do good in your job and after 3-4 yrs of exp apply to US Universities for MBA, as you will be having good exp in analytics IB and CFA and FRM attached to you, u can get Associate level job post MBA, which very very very difficult to get after MBA from India.
and seeing ur %ile in cat, u can easily score 750+ in GMAT which is a very good score for top 10 universities.
But if ur still interested in MBA from India, go for new IIM's, MDI, FMS, XL or any other top 10 b-schools. ur CFA and work ex will get you a nice internship.
remember the shortlisting of companies is not even close to what IIMs do for GD-PI calls, dere short listing is very subjective, dey see ur whole profile
ATB
While most of what you have said is correct, I would like to differ on the last point that short listing by firms are based on whole profile. For summers the only criteria firms apply are your Undergrad institute(IITs or NITs) and your past acads. I am sorry to say this, but that is the sad truth. Talk to any B-schooler in the top B-schools and they will tell the same to you.
For finals firms do give more weightage to your overall profile, but still I would reiterate that most of them do check your past acads.
Seeing your profile, even I would suggest you to try abroad or at most ISB in India.
Guys, as you would no doubt understand, I have tons of pressure at b-school, so getting to this thread is something I do on my "me" time. And I like helping you guys out.
I hate to do this - but I'm getting wayy too many messages from people pointing me to some link and asking me if that school is a good school. This is a waste of my time. This is not a thread to advise you on career stuff or schools - this is a banking related thread
The purpose of this thread is to help people understand investment banking. I would encourage everyone to post their questions on banking. I endeavor to provide advice that you would not find ordinarily - so asking me questions like is ICFAI is a good school for investment banking is the most immense waste of my time ever - coz those kind of questions answer themselves. I'm sure that anyone could tell you whats what when it comes to most school questions (except the IIM questions - the IIM guys are notorious for not talking much about themselves!)
Also, to help everyone on the thread, if you have a question on the thread topic, please put it on the thread. Share your questions...
Dear Friend, Thanks so much for such a valuable information. Indeed i want to thank you from bottom of my heart. Only if i would have read this a year ago it would be a different ball game for me. I m a CA(First attempt) and always had a desired to get into IB or Equity Research. During our institute campus march 2010 I got offered from Nomura and L&T; and after consulting with some idiots i selected L&T; over Nomura(the reason was Recession would turn out to be Depression and i may lose my job). In L&T; i landed up in Accounts and MIS dept. and currently in m continuing with L&T.; I want your advice what exactly i should do to get into IB. 1) What knowledge base required for interview 2) how and where should i apply for IB jobs I am also pursuing CFA (level 1 June 2012 Exams) Please help!
I don't want to be the JackA** here.. or the SmartA**.. But I have a question which I want to ask..
Went through quite a few pages of this forum,where you have to get into top colleges to get into IB. And yes, the IB folks believe that these colleges have a magic potion which turns the above average student into an Investment Banker. Of course, the IB firms looks at your acads, because you have to be good through out. No offence meant, but on one fine day, in one fine test, even Anil Kumble had a century but he is no Ponting.
Well,I did not do well in my one off test(read the CAT/GMAT). When I was taking my other tests(10th,12th,Graduation),I did not realize I wanted to be a banker. Some may call it short sightedness, but I called it enjoying life.
As days passed by, I realized I should do something in life,make money. I could see only one place where I could go 'The Mafia'.. Better sense prevailed. So I thought of IB. What background do I have of IB?None. But I loved my Maths,I loved my graphs,I loved my numbers and most importantly(thats what I thought) I loved the idea of money making money. But they were not enough to land me into a BB.
To cut a already long story short, I CANNOT land myself a BB job. I want to create my own IB. I already tried in the recent recession, made money, gave it to my investors and then shut shop. The investment were in the tune of only a few thousands.
My question is simple: What are the technicalities of creating an IB? I am a believer in the movies 'Wall Street' and 'Pursuit of Happiness'. I want to try this one time and if I fail, I can create software designs even in deep sleep.
Apologies for the silence - I'm travelling for a large part of this week, again and I will be able to get back to everyone's questions only once I'm back on Sunday.
Can anyone tell me,what exactly is securities underwriting thru which investment banks make income?? Like, how they list out the names according to the risk one is willing to take nd all??
Thanks a lot jamiroquai, indeed a very very helpful thread for IB aspirants.
Well, I have a little query of my own as well. I passed out of IIT-K in Jul 2011 and then joined a pharma analytics firm. However, really wanted to join an IB/Financial Advisory firm as had great interest in Eco/Fin since college time itself.
Anyways, tried lots of off-campus applications in my last semester through Bank's websites but couldn't get even a telephonic interview.
Please suggest me as to how I can place myself in one of the BB's, if not immediately then in comin 1-2 years. I'm thinking of taking a CFA, but would L1 or even L2 will really help? I have tough finances at this moment.
Given the current market scenrio, what steps should I take to move towards that goal. It feels like every passing day is complete wastage at my present company. :(
Another options are join a smaller firm, gather experience, take CFA little later and then try to move on to bigger ones. Or gruell myslef for CAT and hope for A/B/C which seems pretty longshot.
As CFA dates are very near, your quick response will really help a lot.
Thanks a lot jamiroquai, indeed a very very helpful thread for IB aspirants.
Well, I have a little query of my own as well. I passed out of IIT-K in Jul 2011 and then joined a pharma analytics firm. However, really wanted to join an IB/Financial Advisory firm as had great interest in Eco/Fin since college time itself.
Anyways, tried lots of off-campus applications in my last semester through Bank's websites but couldn't get even a telephonic interview.
Please suggest me as to how I can place myself in one of the BB's, if not immediately then in comin 1-2 years. I'm thinking of taking a CFA, but would L1 or even L2 will really help? I have tough finances at this moment.
Given the current market scenrio, what steps should I take to move towards that goal. It feels like every passing day is complete wastage at my present company. 😞 :banghead:
Another options are join a smaller firm, gather experience, take CFA little later and then try to move on to bigger ones. Or gruell myslef for CAT and hope for A/B/C which seems pretty longshot.
As CFA dates are very near, your quick response will really help a lot.
To broaden my understanding of Finance and IB (i.e to give it my best shot at any interview I can fetch), what would be a good suggested reading, I have covered up few chapters from Hull, other than some college courses in Economics and Trade.
Will Rosenbaum bookbe any help, I read at review that its pretty technical, and the language might be very tough to understand. Again, I guess CFA will greatly increase my Knowledge base, but is it really necessary??
May not be the right thread , but i don't know where else to post this. I figure that there are some industry professionals like jamiroqui on this thread so thought of posting here.
I just want to know about careers in treasury side of finance. As in what is the usual career progression for someone who starts off at entry level in treasury. Anyone has any idea or maybe a few links?
May not be the right thread , but i don't know where else to post this. I figure that there are some industry professionals like jamiroqui on this thread so thought of posting here.
I just want to know about careers in treasury side of finance. As in what is the usual career progression for someone who starts off at entry level in treasury. Anyone has any idea or maybe a few links?
TIA
Good question. A few pointers here:
1) Usually, Treasury teams tend to be run pretty lean - even for large organizations. Opportunities tend to be limited as a consequence 2) Generally, career track Treasury positions - in the U.S. at least - are staffed by ex Bankers looking for better lifestyles or what have you. The reason is that Treasury teams at the more senior level work closely with Investment Banks - to manage the company's capital structure/issue debt/equity as needed 3) Treasury folks work closely with Corp. Dev. teams, which makes sense because they need to be involved when potential acquisitions are being discussed to bring the capital structure perspective, and/or to discuss how the acquisition will be paid for
All this said, in direct response to your question, a Treasury role sets you up for good visibility into strategic/corporate finance. In many organizations, it may be on the CFO track. So, the Treasurer of the company may be viewed as being the next in line to be CFO. I'm generalizing here, but you get the drift.
To broaden my understanding of Finance and IB (i.e to give it my best shot at any interview I can fetch), what would be a good suggested reading, I have covered up few chapters from Hull, other than some college courses in Economics and Trade.
Will Rosenbaum bookbe any help, I read at review that its pretty technical, and the language might be very tough to understand. Again, I guess CFA will greatly increase my Knowledge base, but is it really necessary??
My opinion - the Rosenbaum book is fine. However, who in the right frame of mind actually likes to read CAPM and leverage levels over breakfast? My advice to you is this - understand the lingo through what's happening around you in the world of Banking. Follow the WSJ and whatever regional/industry oriented transactions interest you. Get excited about the Capital Markets. Sure, you will encounter terms and concepts that won't make sense. At that time, fish out Rosenbaum. But please don't read it (or any other similar book) cover to cover.
I have got through SIBM-Pune. I need one advice from you all. I have come to know that SIBM-P is very good for it's marketing and HR specializations. However, I am interested in pursuing MBA in finance only. How good would you rate the Fin-specialization of SIBM-P. Also, if you could rank the best Fin-specialization MBA colleges in India, it would be of great help.
Thank you.
PS: I will be doing my MBA this year from SIBM-P only and have no plans of taking SNAP/CAT/XAT next year. SIBM-P is the best call that I have.
Hi, Can any one explain thr green option here?? I have read a lot from net but didnt get exactly how it works, especially when trading price is greater than the issue price? also, what is the final no. of shares in the market, is it 1million(say, for eg actual intenede issue no.) or 1.15(15% for green shoe option)??
Hi, Can any one explain thr green option here?? I have read a lot from net but didnt get exactly how it works, especially when trading price is greater than the issue price? also, what is the final no. of shares in the market, is it 1million(say, for eg actual intenede issue no.) or 1.15(15% for green shoe option)??
Kindly some one answer these quries....
Greenshoe is basically a mechanism to handle greater demand in the market at the time of placement.
Let's say Underwriters (Bankers) and Company originally plan on selling 1MM shares. However, at the day/time of closing, Bankers find out that there's greater investor demand than what was anticipated and disclosed earlier. Under these circumstances, legally, Bankers are allowed to exercise an over-allotment option (colloquially known as Greenshoe) wherein they can sell 15% more shares to try and meet the demand. So, they now are able to sell 1.15MM shares (in our example), and hopefully meet market demand. This is the basic idea. Hope it's clear.
Greenshoe is basically a mechanism to handle greater demand in the market at the time of placement.
Let's say Underwriters (Bankers) and Company originally plan on selling 1MM shares. However, at the day/time of closing, Bankers find out that there's greater investor demand than what was anticipated and disclosed earlier. Under these circumstances, legally, Bankers are allowed to exercise an over-allotment option (colloquially known as Greenshoe) wherein they can sell 15% more shares to try and meet the demand. So, they now are able to sell 1.15MM shares (in our example), and hopefully meet market demand. This is the basic idea. Hope it's clear.
Adiyogi
But then the total no of shares in market will be 1.15MM(in our case) is SEC/SEBI fine with it?? Also, if there are releasing 1MM initially and price dips on the day of listing or on a later(max 30 days), then hw the bankers will handle it?? i read on net, they start buying shares from market to increase demand of those shares, but then shares in market will be less than 1MM, as bankers have bought some... kindly help me understand?? or if you some good online resource kindly share the link... i have already gone thru intopedia.com....
But then the total no of shares in market will be 1.15MM(in our case) is SEC/SEBI fine with it??
Note that I'm referring to U.S. rules. Am unfamiliar with SEBI guidelines. In the U.S., greenshoe is legal, but there's a pre-specified limit - believe it's 15%. So, yes, if the Bankers exercise the full greenshoe, in our example, number of shares in the market/sold to investors will be 1.15MM.
Also, if there are releasing 1MM initially and price dips on the day of listing or on a later(max 30 days), then hw the bankers will handle it?? i read on net, they start buying shares from market to increase demand of those shares, but then shares in market will be less than 1MM, as bankers have bought some... kindly help me understand??
That's correct. If demand is lower than expected, then you are talking about the reverse of the situation I discussed above. In this case, the Underwriters will perform what is known as "Stabilization" - basically buying back shares from the market, within legal limits. This will have the reverse effect - reduce supply and therefore increase demand.
or if you some good online resource kindly share the link... i have already gone thru intopedia.com....
Apart from the usual Googling, I can't recommend any websites. I'm sure you can find them yourselves.
Hi, I am going to MDI this year with 21 months exp in IT. Can I get into IB if I opt for finance? Generally I have seen people getting IB profile if they have done from IIM A-B-C. Is there any difference in profile?
Hi Tejas,
In regards to your query. I am from MDI 2010-12. I got into SBI Caps, IBD, M&A.; I am not saying its easy but its not entirely impossible.
and I will be able to get back to everyone's questions only once I'm back on Sunday.