If you're from iBanking and you're spending time here at PG that means You're in india. I wasn't trying to inform you about anything because I'm just a 12th grader. I was telling you about 'why I'm obsessed' Things here in india is much different from NY/London. I found it by cold-calling many bankers who were luckily cool-headed. If you don't like your profession. Too bad. But if you feel you are trying to prove your supremacy, then chill bro. I'm just 16. I aint worth the 'bankers' time.
I dont know whom u r talking to
But ur perception about the scenario in NY/Lon is grossly misplaced
Please see the Reuters article in my next post for data
And dont worry about me .... forum lurking is a hobby of sorts
Many began outlining layoffs plans 18 months ago and are now cutting more deeply as they reassess their entire business to cope with tougher capital rules, while some are cutting because of acquisitions or mergers they are involved in.
Switzerland's UBS in October added 10,000 job cuts to the 3,500 it had earmarked last year, after deciding to exit most of the rates and trading.
Staff cuts announced since mid-2011 or reported to be in the works at major banks have now reached 158,000.
Below are aggregates of various redundancy rounds. They are likely to be conservative figures, as not all banks have announced lay-offs publicly, and the number does not take into account smaller investment banks, boutiques and brokers.
The data also shows the net job losses (or job additions) at these firms since the end of 2009, when the euro zone debt crisis began.
Job cuts announced since 2011: 157,969
Jobs lost at these firms since end 2009: 167,216
Jobs created since 2009: 83,553
Net jobs lost since end 2009: 83,663
Jobs lost at these firms since end 2009: 167,216
Jobs created since 2009: 83,553
Net jobs lost since end 2009: 83,663
BANK Cut plans* Total staff**
HSBC 30,000 267,000
BANK OF AMERICA 30,000 272,594
LLOYDS 15,000 95,975
UBS 13,500 63,745
ROYAL BANK OF SCOTLAND 6,418 140,300
UNICREDIT 6,150 157,190
ING 5,050 94,000
INTESA SANPAOLO 5,000 97,144
MONTE DEI PASCHI DI SIENA 4,600 30,422
CITIGROUP 4,500 262,000
ROYAL BANK OF SCOTLAND 6,418 140,300
UNICREDIT 6,150 157,190
ING 5,050 94,000
INTESA SANPAOLO 5,000 97,144
MONTE DEI PASCHI DI SIENA 4,600 30,422
CITIGROUP 4,500 262,000
Morgan Stanley.4,333 57,726
BARCLAYS 3,922 139,000
CREDIT SUISSE 3,500 48,400
MIZUHO 3,000 56,109
ABN AMRO 2,700 23,863
CREDIT SUISSE 3,500 48,400
MIZUHO 3,000 56,109
ABN AMRO 2,700 23,863
DEUTSCHE BANK 2,400 100,654
CREDIT AGRICOLE 2,350 87,451
NORDEA 2,000 31,692
DANSKE BANK 2,000 20,997
BNP PARIBAS 1,769 198,423#
SOCIETE GENERALE 1,580 159,616#
BANK OF NEW YORK MELLON 1,500 48,200
RABOBANK 1,200 61,103
BANCO POPOLARE 1,120 18,981
NOMURA 1,100 27,168
CREDIT AGRICOLE 2,350 87,451
NORDEA 2,000 31,692
DANSKE BANK 2,000 20,997
BNP PARIBAS 1,769 198,423#
SOCIETE GENERALE 1,580 159,616#
BANK OF NEW YORK MELLON 1,500 48,200
RABOBANK 1,200 61,103
BANCO POPOLARE 1,120 18,981
NOMURA 1,100 27,168
Goldman Sachs 1,000 32,600
JULIUS BAER 1,000 5,700##
JPMORGAN 1,000 259,547
NATIXIS 277 20,451
JULIUS BAER 1,000 5,700##
JPMORGAN 1,000 259,547
NATIXIS 277 20,451
*As announced by the firms in the past 18 months or confirmed by sources ** According to latest available figure from filings # latest available staff numbers date back to year end 2011 ##headcount number includes integration of Bank of America's international wealth management unit. Julius Baer said in October it would cut around 1,000 jobs following the acquisition.
(Reporting by Sarah White; Editing by Jon Hemming)
As I said, recovery is slow and figure of 83,663 net job loss is scary. Agreed. But most of the guys are kicked out because of the mergers and acquisitions they are involved in. So, If they'll commit mistakes- they will pay the penalty. Moreover what do you think, Condition will remain the same when I'll break in i.e 2018? Just like behind every unsuccessful man there is a women, behind every boom there's a bust. So, I assume and I'm optimist that when I'll break in, things will get better. Fingers crossed.
@Thewallstreeter Good Luck
My comment about the widespread craze about IB on this thread was really for people who have absolutely no idea about what IB is (can make out from their queries) and just want to join it for the lure of money.
U appear to be quite different .... both from ur age and by the amount of ground work u have already done ... and i wish u all the very best
BTW ... I am not in IB 
....never was ... was on equities Sell-side earlier ....and now on the much more relaxed Buy-side ... but have worked very closely with the IB team during my sell-side days ... and i understand their pain
....never was ... was on equities Sell-side earlier ....and now on the much more relaxed Buy-side ... but have worked very closely with the IB team during my sell-side days ... and i understand their painWhats the future of CFA if the sector is shrinking 
Hello Mad-Head / Wall Streeter, My query goes like this,
I am from Engineering background(2008 batch) with a meagre 66-67 % in UG with a decent school acads, I joined IT industry on Jul 2010(recession took a toll on my offer), so in those 2 years I worked in a BPO and then started a joint venture( Teaching Institute - Bank Exams) and performed decent in that too. Now I am 25(almost 26) and will be joining one of the top B-Schools next year and when I graduate I will be 29. Recently I learnt that I banks look out for freshers or guys up to 25 as they wont mind the odd working hours. additionally I was also told that my profile wont be even shortlisted during the interview process considering my age, Is this true??? My decision to switch to I banking @ late 20's , is this any wrong??? as far my quality is, I am good in numbers, very strong analytical & comm skills, superior presentation skills, event management & crisis handling skills. Do I stand a chance if I perform well in my PGDM acads or now the curtains are down for me already??? finally do let me know if my UG score can be compensated with any kind of profile building / finance related certifications???
@mariaantony Bankes prefer guys from 22-26 years of age as an analyst. Since you'll be a Mba graduate and have some work experience, Banks will consider you for 'Associate' role(above analyst). Your age is not a constrain. The problem here is your UG score. Banks rely on it enormously and ofcourse, you'll have to graduate among the top quartile of class for breaking into this highly competitive feild. I would advice you to go through entire thread. You'll get a clearer idea. If you'll follow some networking tips given and back it up with outstanding acads, you'll win the race. Good luck mate.
it seems even CFA L2 wont help in breaking into banking sector after 4-5 years academic teaching experience. 
Hey mate, I am into IT Software development for the last 2.5 years, that teaching stint was for a span of 12 - 13 months, I did that for my earning till I got a call from the company that recruited me in my final year....So I will be 4 years exp in IT and 7 odd months exp in BPO when I join the elite Bschools....Tell me now what kind of profile building can enhance my chances. My queries on age factor and UG CGPA was answered, now can you tell me will the I banks look my work experience BPO and teaching prior to IT as a potential break in professional experience????
@Thewallstreeter
hello sir
my age is 19 and right now m pursuing b.com, final semester. I m regular 75% scorer.. i want to be in a IB sector and that too in BB. i am planning to do msc in investment and finance from Middlesex university (uk) , does thz degree enhance my opportunity to be in IB sector?
What should be my 1st step towards thz profession?
Does doing msc in investment and finance from Middlesex university uk is betr option for me rather than joining any Indian b-schools,As top Indian business schools want some work experience which i don't have.. plz guide me
@meTheansh Top indian b school doesn't demand any work experience. Even for b school in US/UK Work experience is 'preferred' It's not a necessity. And If you're planning to do msc in investment and finance from non-ivy-league-school and that too as an international- then you'll end up wasting you $150 k with little to no chance in breaking into iBanking or any job for that matter. There's a huge probability that you'll return india jobless, or work in any hotel as waiter. And If you're taking any debt for your studies- Then you'll spend your entire life filling your enormous debt in pounds while earning in rupees. I aint demoralizing you buddy, neither I'm deflating your confidence but think yourself - why a bank will choose you over lakhs of uk students having part time banking experience since they are in std 12? why they will sponsor your H1B visa, which is itself a daunting ask? Left aside BB, Why even the small frims will choose you over the international students from London school of business and Insead, having MBA degree? Banks don't care of JD/ CFA etc certificates. They even dont care for Masters and Phd in finance. All they care for is- Bachelors and 'Masters in Business' degree. Yes, you can break if you'll network ridiculously but the chances are pretty slim or looking at the market, there's not a chance at all. Europe economic crisis is on it's pinnacle, Even for an ivy league international graduate, It's quite tough to get a job. I would recommend you to go aborad only if you can get to Top 10 b school and that too with atleast 3 years of workex. If you can get to IIM's A/B/C and graduate among the top quartile of class and ace your interviews and summers smartly, you can get an ibanking offer from top BB's in London/NY.
@Thewallstreeter
Thanks a lot sir for Ur valuable and eye opening suggestions, I would have waisted my dads money for sure, really thanks for saving me..
As I have got a golden opportunity to get suggestions from the stalwart person lyk u, i would like to get full advantage of it by putting up more questions , plz help me out in thz..
what should i do to know every aspect of IB ?
As i will be 2014 mba aspirant, i hve decent time to get some work experience, so do i have any chances of getting pre mba job related to IB sector or in any financial institution, which would enhance my financial skills and make me familier with IB.
@meTheansh If you're from SRCC/ Stephens etc you can get front office analyst job in top BB/MM but if you're not from any top tire undergraduate school then it's very tough to get those roles. You'll get stuck in back office job at KPO's which isn't recommended. But since you're a 2014 MBA candidate, I would advice you to take those jobs and try to excel there. Banks want to be completely sure that you can put 100hrs/week effort. Having atleast 50hours/week workex will give you a headon advantage over freshers in b school having no work experience.
For gaining information about investment banking, read this thread from its threshold beginning- you'll get familiar about this sector. Reading books like 'one up on wallstreet' by peter lynch will help you gain prerequisite knowledge about investment in US- if you're really keen for working there. Remember- Getting to IIM A/B/C is not enough, you'll have to compete from top IITians there. If you want to get a foreign IB job, then it's even more tougher. If you want to work in UK, getting to LBS will help you more than IIM but if you can't get to LBS/Insead and dont have the appetite for fiscal risks then get to IIM's and work VERY VERY hard.
Hello Jamiroquai and others,
I am currently pursuing CA
I may clear my CA final by next year
I am planning to get some workex and than try to get into the MIF program from london business school
Is london b school a right path towards building a career in finance sector
what would you suggest me to ahead for getting into IB
I would heartily appreciate peace of advice
Thewallstreeter, send me a PM when you get a chance. You may not regret it.
Adiyogi
Hi all,
Do anyone know, what is the average pkg of S P Jain (IB) and what is the admission procedure for the same.
can't work for 100hrs, seriously . those who are attracted by high pay etc. should think twice. I had a job that made me work 6*10 hrs a week...i quit it. going for mba now -_- hoping to get some comfortable life....