Welcome Guest ( Log In | Register )

17 Pages < 1 2 3 4 > » Bottom

Outline · [ Standard ] · Linear+

 Investment banking/Corporate finance

views
     
fino_abama
post Nov 24 2010, 10:53 PM

On my way
****
Senior Member
520 posts

Joined: Sep 2009


QUOTE(confused*88* @ Nov 24 2010, 05:53 PM)

FYI, I graduated from Monash. I'd say its not too reputable but its OK.

I have already applied for the graduate positions but I'm not expecting much from it. Hence, I'm seeking advice as to which career is a better step stone to a BB IB.

I dont want to be rotated but if thats the best step stone I might consider that path. Any advice on that?
I did intern at a MY IB. I'm already back in MY but I didn't want to go through rotations so I'm still considering other options.
Of the three that I've listed, which experience is more creditable if I were to apply for BB IB in the future?

Thanks a lot for your reply.
*
Monash is a good enough university. No harm trying to apply though. From time to time, try to furnish your resume/CV to make it more attractive to HRs.

As long as you get a chance to work in an IB, it's okay if you get rotated between departments. The most important thing is being able to show to your future bosses your interest and capability in CF. Networking is very important in this case.

Good luck.
kinwing
post Nov 24 2010, 11:50 PM

On my way
****
Senior Member
559 posts

Joined: Mar 2010
From: Ipoh/Kuala Lumpur


QUOTE(confused*88* @ Nov 24 2010, 05:53 PM)
Yeah I've signed up for the June 2011 examinations already.
Thanks for the advice.

From my experience, I'd say I'm quite certain about that but I'm sure there's more for me to find out in the field. So I didn't say I'm 100% sure.

I'm not planning to do a Masters right now, but that is a viable plan in the future.

I will find out more about the things that u've noted. Thanks.
Thanks for the reply.

FYI, I graduated from Monash. I'd say its not too reputable but its OK.

I have already applied for the graduate positions but I'm not expecting much from it. Hence, I'm seeking advice as to which career is a better step stone to a BB IB.

I dont want to be rotated but if thats the best step stone I might consider that path. Any advice on that?
I did intern at a MY IB. I'm already back in MY but I didn't want to go through rotations so I'm still considering other options.
Of the three that I've listed, which experience is more creditable if I were to apply for BB IB in the future?

Thanks a lot for your reply.
*
Read from your reply and know you did intern at MY, but you said you don't know which IBs are the top tier in MY? Not going to mention which are the top tier IBs in MY since someone could have mentioned in the previous thread, so you have to stop whinning rclxub.gif and go verify those information or google search.

Btw, IMHO it would be recommended to go for CF division of IBs, of course it would be best if you can join the best local IB.

I got another question is that since you have gone through your internship in a local IB, you should have come to know someone from another IB or work in the same industry? It could be indeed easier for you to get a CF job via connection and reference.

Share you my experience that I did an internship in a local IB before. I was attached to the CF division. I was confirmed by the bank once the internship completed, though I left the bank and join an application engineer firm later. Four years later I bored with the engineer job and finished the CFA study, I back to work in CF via through peer reference. As I still keep in touch with my ex-CF colleagues, and a lot of them are promoted to be AM, AVP or even VP and they are spread all over different IBs or commercial sector (CF is a "small" world), and with their reference I only went through for 1st interview to show face and get the job offers.

This post has been edited by kinwing: Nov 25 2010, 12:01 AM
TSconfused*88*
post Nov 25 2010, 12:49 AM

New Member
*
Junior Member
8 posts

Joined: Nov 2010
QUOTE(keelim @ Nov 24 2010, 06:01 PM)
Don’t be misguided by the forum for real. Ignore posts from the interval of 7am to 2am (+1) - Generally. Opportunity cost for IB-ers to post at this forum is just too high - Generally.
For BB/Tier-1 Corporate Finance, forget about the qualifications needed besides your Degree. Leverage on the internship. Your best cut to being an Analyst in CF is probably from internship/job placement in the campus, unless you’re some private banker’s client’s - children. If you fail this stage, go to Plan B or Plan C, or Plan D.
Plan B entails a reputable B-school. As you are aware of, you probably will be in your late 20s to early 30s. Getting an MBA will open doors to interviews at campus.
Plan C covers Big 4 CF. Generally the experience is quite similar except for capital market experiences and size of the deals in the pipeline.
Plan D involves being a specialist in your industry. This master of trade is demanded by the IBs.
Either Plan A,B, C, D, or E….CF requires you to be ‘smoky’. In the sense, never answer “I Don’t  Know” and smoke all the way, of course with substance.
*
Some good advice there. Thanks.

Anyway I'm fresh from uni, so I'm still in my early 20s. =)

I guess I'll try plan B in the future after getting a few years experience.

Mind explaining more about plan A? I've applied for BB but I'm not putting much hope on it.

Is MY Tier 1 IB experience better than Big 4 CF or the other way round? Which is more credible for BB IB?

QUOTE(gloomberg @ Nov 24 2010, 09:55 PM)
First of all, what is ur motivation behind getting into an IB? Money? Glory? Just make sure u have what it takes, i.e. relentless stamina, working late till 4-5am(when there's project, and this is frequent for big IB), adept to analyzing business, living in solitude, tough mentally and physically, great communication and client servicing skills, pro in excel, and one thing u realize when u're in it, unrealistic business valuation (cuz it all depends on ur client's satisfaction to get the deal done).

I've met many freshies, but a lot of them are super stuck up although they knew nothing. literally nothing. nil. well, if this is the attitude when they meet their clients, keep it up. Yea, glorified job, but there's a price to pay for it. In the end of the day, what matters most is not just your technical skills, but also your ability to maintain good relationship with clients (so that they continue doing business with u?), although many people didn't know that their clients can be next to them when they least expect it.
I'm really interested in the area and I enjoyed my internship very much. I like the challenges put upon me and I find value in that. Well, the money really is a plus for more motivation in this case, I wouldn't deny that.

I'm sure I'm capable of performing at this area and I also realise that I have to polish my communication skills but that can be trained as I get more experience.


QUOTE(fino_abama @ Nov 24 2010, 10:53 PM)
Monash is a good enough university. No harm trying to apply though. From time to time, try to furnish your resume/CV to make it more attractive to HRs.

As long as you get a chance to work in an IB, it's okay if you get rotated between departments. The most important thing is being able to show to your future bosses your interest and capability in CF. Networking is very important in this case.

Good luck.
*
Yeah I've applied for graduate positions but the competition is really intense. It's good if I'm able to land it but I wouldn't be sad if I couldn't.

I'm afraid to be rotated into the commercial banking side of the business. LOL. I have a basic understanding of their hiring practice so I think I'll go for the alternative route. That's if I decided to join them down the road.

Anyway, from ur advice, u reckon local IB is better than Big 4 CF experience? Thanks.

QUOTE(kinwing @ Nov 24 2010, 11:50 PM)
Read from your reply and know you did intern at MY, but you said you don't know which IBs are the top tier in MY? Not going to mention which are the top tier IBs in MY since someone could have mentioned in the previous thread, so you have to stop whinning rclxub.gif and go verify those information or google search.

Btw, IMHO it would be recommended to go for CF division of IBs, of course it would be best if you can join the best local IB.

I got another question is that since you have gone through your internship in a local IB, you should have come to know someone from another IB or work in the same industry? It could be indeed easier for you to get a CF job via connection and reference.

Share you my experience that I did an internship in a local IB before. I was attached to the CF division. I was confirmed by the bank once the internship completed, though I left the bank and join an application engineer firm later. Four years later I bored with the engineer job and finished the CFA study, I back to work in CF via through peer reference. As I still keep in touch with my ex-CF colleagues, and a lot of them are promoted to be AM, AVP or even VP and they are spread all over different IBs or commercial sector (CF is a "small" world), and with their reference I only went through for 1st interview to show face and get the job offers.
*
U reckon local IB is better than Big 4 CF experience?

Maybe we're talking about different company here or maybe they have changed their system. Before this I heard it's possible for a fresh graduate to join as an executive but I think they've changed their policies. Fresh graduates must now go through the MT program and be rotated. That's from what I understood. Correct me if I'm wrong. Thanks.
Aloong
post Nov 25 2010, 06:46 AM

Casual
***
Junior Member
484 posts

Joined: Feb 2009
QUOTE(kelvin_tan @ Nov 24 2010, 12:42 AM)
@gloomberg
arent you new towards the working force itself? From other threads I think you jsut started working right? (well at least in IB).

No doubt TS didnt do much research etc on the field he/she is trying to enter but, well, no reason to act arrogantly / cocky right? I believe this is a thread seeking advice / guidance, not a bashing one.

Most ppl in IB seem to act that way but not sure why.
*
Harsh?
Wait till they really do CF, and they'll know wat is harsh


Added on November 25, 2010, 6:57 am
QUOTE(gloomberg @ Nov 24 2010, 09:55 PM)
First of all, what is ur motivation behind getting into an IB? Money? Glory? Just make sure u have what it takes, i.e. relentless stamina, working late till 4-5am(when there's project, and this is frequent for big IB), adept to analyzing business, living in solitude, tough mentally and physically, great communication and client servicing skills, pro in excel, and one thing u realize when u're in it, unrealistic business valuation (cuz it all depends on ur client's satisfaction to get the deal done).

@kelvin_tan, lol, im new, but i ask around. and look around. there maybe claim that they are an IBer albeit they're not, but it's really up to u guys to judge what is plausible or not.

I've met many freshies, but a lot of them are super stuck up although they knew nothing. literally nothing. nil. well, if this is the attitude when they meet their clients, keep it up. Yea, glorified job, but there's a price to pay for it. In the end of the day, what matters most is not just your technical skills, but also your ability to maintain good relationship with clients (so that they continue doing business with u?), although many people didn't know that their clients can be next to them when they least expect it.


Added on November 24, 2010, 9:56 pm

Module 12 & 19, go check the website la...
*
My fren is complaining his juniors always complain of always given menial task, but wen given more important tasks, they dun do it properly and won't put in the hours. resulting in the seniors put in even mre hours than he have to initially.
juniors, especially those very determined ones, are very big headed, They are so determined about the word CF, but yet doesnt know the real day to day work. and when they dun seem to do what they are expecting(or imagining), they lose interest.


This post has been edited by Aloong: Nov 25 2010, 06:57 AM
Vengeance_Mad
post Nov 25 2010, 11:33 AM

Aston-ishing
*****
Senior Member
796 posts

Joined: Jan 2007


QUOTE(confused*88* @ Nov 24 2010, 05:53 PM)
Yeah I've signed up for the June 2011 examinations already.
Thanks for the advice.
Bro, where do you sign up for this program ?

VR9099
post Nov 25 2010, 01:16 PM

New Member
*
Junior Member
28 posts

Joined: Apr 2008


QUOTE(Vengeance_Mad @ Nov 25 2010, 11:33 AM)
Bro, where do you sign up for this program ?
*
Google.

This post has been edited by VR9099: Apr 30 2011, 12:49 AM
nokia2003
post Nov 25 2010, 02:16 PM

Look at all my stars!!
*******
Senior Member
5,786 posts

Joined: Nov 2007
From: VIC - The Place To Be


QUOTE(VR9099 @ Nov 25 2010, 01:16 PM)
if you wish to take CFA yet you dont even know where, how and when to sign up, good luck to you. Bright future awaits you.
*
the sarcasm is strong in this thread, in general! laugh.gif laugh.gif laugh.gif
kinwing
post Nov 25 2010, 02:26 PM

On my way
****
Senior Member
559 posts

Joined: Mar 2010
From: Ipoh/Kuala Lumpur


QUOTE(VR9099 @ Nov 25 2010, 01:16 PM)
if you wish to take CFA yet you dont even know where, how and when to sign up, good luck to you. Bright future awaits you.
*
There is google search instead of whining around to wait others to spoon feed. Even normal jobs, not to mention the work in the CF field, require staffs to take the initiative to take the effort to learn. While people are working, it is not always qualification, but attitude in work to gain the relevant experience is more important.
Vengeance_Mad
post Nov 25 2010, 05:24 PM

Aston-ishing
*****
Senior Member
796 posts

Joined: Jan 2007


QUOTE(VR9099 @ Nov 25 2010, 01:16 PM)
if you wish to take CFA yet you dont even know where, how and when to sign up, good luck to you. Bright future awaits you.
*
QUOTE(kinwing @ Nov 25 2010, 02:26 PM)
There is google search instead of whining around to wait others to spoon feed. Even normal jobs, not to mention the work in the CF field, require staffs to take the initiative to take the effort to learn. While people are working, it is not always qualification, but attitude in work to gain the relevant experience is more important.
*
Thank you.
I asked because I do not want to get it wrong.
I checked in www.cfainstitute.org but it seems like its not for local.
And I can't find a malaysian 1 except for the www.cfamalaysia.org which will also redirect me to the 1st website.

Anyway, if u don't want or can't answer me, or if it's too hard for you to help, then don't say anything.
Why bother to answer so sarcasticly?
You gain or lost anything if I'm spoonfed?

tommy141184
post Nov 25 2010, 06:53 PM

Getting Started
**
Junior Member
153 posts

Joined: Jun 2006


I got an interview for corporate finance with a local IB, I heard that there will be an essay and a something like financial statement analysis test, anyone here has this experience before? Normally what sort of essay questions they will ask, and the financial statement analysis is like?? any example as I couldn't find from internet.
prancingHORSE
post Nov 25 2010, 07:29 PM

I’m too awake for this to be a nightmare!
Group Icon
Elite
2,442 posts

Joined: Jan 2003
From: pJ



QUOTE(tommy141184 @ Nov 25 2010, 06:53 PM)
I got an interview for corporate finance with a local IB, I heard that there will be an essay and a something like financial statement analysis test, anyone here has this experience before? Normally what sort of essay questions they will ask, and the financial statement analysis is like?? any example as I couldn't find from internet.
*
OT:
Which IB specifically?
TSconfused*88*
post Nov 25 2010, 08:22 PM

New Member
*
Junior Member
8 posts

Joined: Nov 2010
QUOTE(Vengeance_Mad @ Nov 25 2010, 05:24 PM)
Thank you.
I asked because I do not want to get it wrong.
I checked in www.cfainstitute.org but it seems like its not for local.
And I can't find a malaysian 1 except for the www.cfamalaysia.org which will also redirect me to the 1st website.

Anyway, if u don't want or can't answer me, or if it's too hard for you to help, then don't say anything.
Why bother to answer so sarcasticly?
You gain or lost anything if I'm spoonfed?
*
I registered at www.cfainstitute.org. I'm not 100% certain but I don't think you can register through any other way. You can register for the exam and choose the venue that you prefer, they have exams all over the world.

For Level 1, there's June and December exams. Registration and exam fee is around US$1000 and it gets more expensive closer to exam dates.

Cheers.
tommy141184
post Nov 25 2010, 08:45 PM

Getting Started
**
Junior Member
153 posts

Joined: Jun 2006


QUOTE(prancingHORSE @ Nov 25 2010, 08:29 PM)
OT:
Which IB specifically?
*
Alliance Invest
keelim
post Nov 25 2010, 09:26 PM

Enthusiast
*****
Senior Member
920 posts

Joined: Feb 2006
From: ^^Heaven^^


QUOTE(confused*88* @ Nov 25 2010, 12:49 AM)
Some good advice there. Thanks.

Anyway I'm fresh from uni, so I'm still in my early 20s. =)

I guess I'll try plan B in the future after getting a few years experience.

Mind explaining more about plan A? I've applied for BB but I'm not putting much hope on it.

Is MY Tier 1 IB experience better than Big 4 CF or the other way round? Which is more credible for BB IB?

*
The good thing about Plan B is it allows you to self-assess your ability before splurging considerable amount of money for B-School enrollment. This is via GMAT program. FYI, avg GMAT score for Harvard (Top-B School) is 730 in 2009. Tier 1 IB mostly recruits from Top B-school, hence if you cant get an enrollment, drop the dream. Passion sometimes need to be assessed with ability before the reality struck hard.

The problem with Plan A is competition. This is the stage where IBs recruit interns/analyst. This is simply through their graduate's program advertised globally or campus recruitment (for top tiers Degree). Again, if you are the typical Joes on the street, this is the most possible option with a degree.

My take is any Tier 1 IB guys can do Big 4 CF job but not vice versa. The exposure and responsibilities are very different. If you have a choice, it would be a clear cut in my opinion. Unfortunately, I dont think Tier 1 IB will hire someone in the early 20s especially in the front office. If I were a client, I wont be convinced looking at a young chap pitching or doing investment valuation at my mega project. Big 4 may be a better bet, and I believe they hire young blood.


Added on November 25, 2010, 9:32 pm
QUOTE(tommy141184 @ Nov 25 2010, 06:53 PM)
I got an interview for corporate finance with a local IB, I heard that there will be an essay and a something like financial statement analysis test, anyone here has this experience before? Normally what sort of essay questions they will ask, and the financial statement analysis is like?? any example as I couldn't find from internet.
*
Corporate Finance entails lots of legal document reading, pitching and writing vignettes. Therefore, what's the best way to assess than to ask the interviewees to write an essay, which I opined to be a case study essay.

Know your financial statements. Double accounting treatment and ratios. Google up the most common ratios and why they are used. For eg. EV/EBITDA. Why EV and why EBITDA? If you are interviewing for a specialist sector, know the sector hard. Airlines will be looking at RPK, RASK, CASK. Power generation looking at EV/KWh and etc. Remember CF guys are Jack of all trades, master of none! Back-of-the-envolope DCF, comparable multiples, transaction multiples for the start. Good Luck!

This post has been edited by keelim: Nov 25 2010, 09:42 PM
gloomberg
post Nov 25 2010, 10:10 PM

On my way
****
Junior Member
509 posts

Joined: Aug 2009


QUOTE(keelim @ Nov 25 2010, 09:26 PM)
The good thing about Plan B is it allows you to self-assess your ability before splurging considerable amount of money for B-School enrollment. This is via GMAT program. FYI, avg GMAT score for Harvard (Top-B School) is 730 in 2009. Tier 1 IB mostly recruits from Top B-school, hence if you cant get an enrollment, drop the dream. Passion sometimes need to be assessed with ability before the reality struck hard.

The problem with Plan A is competition. This is the stage where IBs recruit interns/analyst. This is simply through their graduate's program advertised globally or campus recruitment (for top tiers Degree).  Again, if you are the typical Joes on the street, this is the most possible option with a degree.

My take is any Tier 1 IB guys can do Big 4 CF job but not vice versa. The exposure and responsibilities are very different. If you have a choice, it would be a clear cut in my opinion. Unfortunately, I dont think Tier 1 IB will hire someone in the early 20s especially in the front office. If I were a client, I wont be convinced looking at a young chap pitching or doing investment valuation at my mega project. Big 4 may be a better bet, and I believe they hire young blood.


Added on November 25, 2010, 9:32 pm

Corporate Finance entails lots of legal document reading, pitching and writing vignettes. Therefore, what's the best way to assess than to ask the interviewees to write an essay, which I opined to be a case study essay.

Know your financial statements. Double accounting treatment and ratios. Google up the most common ratios and why they are used. For eg. EV/EBITDA. Why EV and why EBITDA? If you are interviewing for a specialist sector, know the sector hard. Airlines will be looking at RPK, RASK, CASK. Power generation looking at EV/KWh and etc. Remember CF guys are Jack of all trades, master of none! Back-of-the-envolope DCF, comparable multiples, transaction multiples for the start. Good Luck!
*
legal stuff... tons of them @,@... which is why corporate lawyer like andre & kadir or wong & partners (under baker and mckenzie) are earning tons of money (but of course they work their a$$ off too). Technical skills can be trained, cuz there's a limit to what a person can do, unless u get into a very quant finance field, i.e. derivatives, fixed income analysis (and it's not just maths and statistical modelling, it's way beyond that).

But what i think is that if we get into a CF of a small IB, we wouldn't necessarily learn a lot, especially if ur leader is a lousy one, and continuously failing to secure any deals. In the banking industry however, take heed that CF people are often labelled as a very serious bunch of people. Sleep late, wake up early. But bonus is beyond ur wildest imagination, but well, u're gonna risk threatening ur life being there, especially at CIMB. And actually, the life of being an equity analyst is quite similar, u reach office at 7am, go back 12am, lots of coffee, ur colleagues are ur family, etc. depends what u seek for in life.

Who does no one consider debt capital market? It's an equally challenging field, maybe not as CF, but the exposure is quite huge, and gonna expand even more with islamic finance. Getting straight into CF would bring u no benefit, cuz it's better if u have experience in certain areas of expertise, for say property&construction, power generation, agriculture, etc etc. then u have sth to bring to the table if u have a great business sense in valuation of a certain project. Best of all, if u have overseas projects, and if u have a blackberry that connects to ur office email, i wish u good luck.
Aloong
post Nov 25 2010, 11:39 PM

Casual
***
Junior Member
484 posts

Joined: Feb 2009
QUOTE(tommy141184 @ Nov 25 2010, 08:45 PM)
Alliance Invest
*
CF?
didnt expect they're hiring. i tot they went into hibernation
kinwing
post Nov 25 2010, 11:58 PM

On my way
****
Senior Member
559 posts

Joined: Mar 2010
From: Ipoh/Kuala Lumpur


QUOTE(Vengeance_Mad @ Nov 25 2010, 05:24 PM)
Thank you.
I asked because I do not want to get it wrong.
I checked in www.cfainstitute.org but it seems like its not for local.
And I can't find a malaysian 1 except for the www.cfamalaysia.org which will also redirect me to the 1st website.

Anyway, if u don't want or can't answer me, or if it's too hard for you to help, then don't say anything.
Why bother to answer so sarcasticly?
You gain or lost anything if I'm spoonfed?
*
Vengeance_Mad,

I quite like the quote from dreamer101:"If you cannot stand the heat, please stay away from the kitchen". So we are here trying to wake you up by giving you some hints how would the real IB world be but you take it too personally to think we are bashing you.

If your have never come through some harsh critics from bosses like "Why you are here? You should go home and sleep and give me your salary since your work is suck like a primary student's work, as I'm checking your work till like I'm doing your job!?". Or have you ever been thrown to the face with your draft and being screamed at "I don't want to see this rubbish, get out from my sight!" and have no idea of this kind of hardship, then be happy, as we sarcastism is a small fried.

BTW, you are on the way of getting the CFA registration by bumbing into the www.cfainstitute.org webpage, do read more thoroughly you would then find the account registration session for the CFA registration. Whereby the www.cfamalaysia.org is only for those who are or want to be CFA members and this webpage is not CFA candidates.
kinwing
post Nov 26 2010, 12:28 AM

On my way
****
Senior Member
559 posts

Joined: Mar 2010
From: Ipoh/Kuala Lumpur


QUOTE(tommy141184 @ Nov 25 2010, 06:53 PM)
I got an interview for corporate finance with a local IB, I heard that there will be an essay and a something like financial statement analysis test, anyone here has this experience before? Normally what sort of essay questions they will ask, and the financial statement analysis is like?? any example as I couldn't find from internet.
*
You might be requested an essay like "What would be the Malaysian's economy is the next decade, what would be the problem the economy is going to encounter and what is the solution?" or "To discuss the most recent corporate governance issue".

Or you would be provided a company's financial statement, and this company could be in making gains or losses for years. So base on the statement, you would suggest which following corporate exercises:-
1) Bonus Issue
2) Right Issue
3) Capital Reduction
3) Share Split
4) Share Consolidation
5) Acquisition
and etc.
And you are required to justify the selection the corporate exercise and show the proforma statement for taking the exercise.
underpressure
post Nov 26 2010, 12:33 AM

Casual
***
Junior Member
378 posts

Joined: Feb 2010
I think its great to see your determination to go straight into CF. But you shouldn't get too fix minded and close other opportunies when you're unable to get into CF.

A career from commercial/corporate banking not a bad place to start if you want to go into CF. As these days you see banks offering a wide of services. I met a corporate relationship manager was working very closely with his treasury and DCM team.

Anyway just my 2 cent
gloomberg
post Nov 26 2010, 08:53 AM

On my way
****
Junior Member
509 posts

Joined: Aug 2009


QUOTE(underpressure @ Nov 26 2010, 12:33 AM)
I think its great to see your determination to go straight into CF. But you shouldn't get too fix minded and close other opportunies when you're unable to get into CF.

A career from commercial/corporate banking not a bad place to start if you want to go into CF. As these days you see banks offering a wide of services. I met a corporate relationship manager was working very closely with his treasury and DCM team.

Anyway just my 2 cent
*
u just need to know the right people to get u in... unless u're real lucky, like one of my pretty super lenglui friend who managed to get in, but left after barely a month there lol.

17 Pages < 1 2 3 4 > » Top
 

Change to:
| Lo-Fi Version
0.0268sec    0.48    6 queries    GZIP Disabled
Time is now: 29th March 2024 - 01:42 AM