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Assumptions/stories u guys heard are partially true. I don't know many banks, but I only know some (I'm still new in the market). For me, if i wanna know about pay, i'll directly ask somehow who is actually working at that particular bank itself, for say the HR, if they are willing to tell. If not, ask somehow who has a close friend there, which is hard as well. So best of all, get yourself an interview, and ask when u get the offer, but seriously, it's highly unlikely that they would hire a freshie for their CF, but for research houses it's quite common.
There is an exception though, cause I knew this guy from Maybank Investment who got into a department which is CF related, called origination - he said it's sth to do with writing a pitchbook (to get a deal). If there are pro here who could kindly explain what is origination, it would be deeply appreciated. He's freshie, and got confirmed after 6 months via the Maybank Apprenticeship Program. U guys could try it out.
the lenglui friend i has just switched to a different department at a different IB LOL (i got an offer at that diff IB, but rejected it). Words like 'dark','crazy','nonsense' are associated with CF, at least for her company. Ermm, what I can say is that it's very demanding, and the ppl there would expect u to be able to deal with a whole load of sh1t while u're there. Working hours during the project can be into the wee hours of the morning, and in the weekends as well. there is no such thing as peak season, cuz if u're in those huge IB, really, it's always peak season if deals are always pouring in, especially during this time of global economic recovery. U will notice the trend once u're in the market.
In the end, it all depends on what u want in life.
Please don't think CF is about stock market guys, although i have no idea myself what it was until i was working. It's similar, as in the valuation part and they have to keep up to date with the regulatory news that governs the area they are covering (taxation, sovereignty,political,etc). When some corporates want to do M&A,IPO,Privatization,ECM they'll ask those IB for help with an astounding fee. There's definitely A LOT of legal stuff in CF that is dealt here, which is why corporate lawyers are earning soooo much.
All in all, pay is good, bonus can be >12 months, especially for this year, and there's so many types of bonuses... (individual performance, company performance, contractual) but u are risking ur health and ultimately fertility.
If u really want money, go study actuarial science overseas, and dun come back malaysia. or study chemical engineering or some sort of engineering and hopefully land urself in an oil&gas company. really, there are better ways to earn money. For example, being an insurance agent. A manager from Great Eastern claims to have earned a steady 40k per month, having a lot of downlines. I mean, seriously, who doesn't want to be rich? to use a Mont Blanc pen, Salvatore Ferragamo tie, or even an Armani suit. Ah the glorified world of investment bankers... But always remember there are better ways... don't hop in just for the fame, it's just not worth it... unless u loved to be adored by people, and u have the hunger to be praised and complimented all the time...
Smart ada 2 jenis, satu street smart, another book smart. If u're street smart, u can actually earn more (entrepreneur), but of course it's a tougher road, but what is this world is free from potential risks? If u work for ppl, u risk being fired, although the probability is low.
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