This post has been edited by bigturtle89: Aug 21 2012, 03:21 PM

I never saw this post. I fail in four elements that you state out. Wahahaha. But, I am quite well in software.

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Added on August 21, 2012, 10:28 pm

This post has been edited by LuisaLui: Aug 21 2012, 10:28 PM

I have read some of the posts here and cant help myself from giving my honest opinion.

I have been working in a local IB for the past few years. All I can say is IBs never recruit from any forum, lowyat, etc.

For those who desperately wants to enter top tier IBs, unless you are a datuks' son or daughters or graduated from prestigious unis, go equip yourself with the necessary work experience or qualification first before applying. Then go harass the IBs hr dept or get someone from inside to recommend u. After that, it's just a matter of luck.

Once i accumulated experience, i wont bother to apply to ib since i will not consider a pay cut and i want to focus on my family.

Funny enough. We just recruited two from this forum alone.

Unless u r cimb, mayb u can come and laugh at my bank. In any case, I am still tier 1 IB.

Is about getting creative and deliver results, I only care about getting the right person, not the methods.

Yes, I recruited very good ppl (ranked uni) from Low Yat to work at IB front office. and i still want to hire 1 more fresh grad.

so what? u want to come to my office for interview now?

if you have honest opinion, u dun need a new account to give just that opinion.

This post has been edited by IBank BeanBag: Aug 25 2012, 02:36 AM

U don't need a pay cut if u join top tier IBs.

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Added on August 25, 2012, 9:23 amI am just giving my opinion. No need to get defensive.
Tier 1 IB? That's a valid point 10 yrs ago.
Interview? No thanks. Maybe I'll accept the initial offer to come and laugh at u instead.




This post has been edited by Shinden9: Aug 25 2012, 09:23 AM

In my opinion and in accordance to my years of working experience in IBs, there are only 3 tier 1 local IBs, i.e. CIMB, Maybank and AmBank, and the rest are tier 2 or even tier 3, not to mention the lowest should be those converted from universal brokers. RHB used to be tier 1, now should be tier 2.

This post has been edited by kinwing: Aug 25 2012, 04:03 PM

You must have worked too long in the industry and too busy to not notice where AmBank is now.

As long as ECM is concerned, Ambank cannot claim to be Tier 1 but RHB can.

A simple guide would be whether the bank would secure any bookrunning role in the equity transactions.

This post has been edited by IBank BeanBag: Aug 25 2012, 07:38 PM

There are no tier 1 IB in Malaysia.
All, including CIMB, is tier 3 at best.

The tier 1 are those goldman and morgan stanleys of the world.
Those co only have offices in Singapore and not Malaysia.

Tier 1 local IB

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Added on August 25, 2012, 8:22 pmanyway, the case remains, I have one to two vacancies for fresh graduates to fill up

This post has been edited by IBank BeanBag: Aug 25 2012, 08:22 PM

how to define the tier?

I don't know what is considered Tier 1 or 2 IB. All I know is that RHB-OSK merger will create the largest investment bank (by assets) and the biggest stockbroking firm in Malaysia (the pole position may be fluid depending how the integration process is managed) when the merger is completed.

http://www.theedgemalaysia.com/highlights/...hb-osk-ib-.html

Of course, in M'sia - CIMB is commonly-regarded as the leader in local IB scene. One cannot compare local IBs with foreign bulge-bracket IBs as they do not have IB operations such as CF/ECM/etc in Msia (due to "protectionism") with staff based full-time in M'sia, but a few of them have some securities/research activities locally. Please note the winds of change is re-shaping the global finance scene...Asian banks are going to benefit from the Western countries' woes and you will see the changes in the next decade or so.

This post has been edited by chabalang: Aug 25 2012, 09:34 PM

I wish to ask TS some questions

-Why working excessively long hours is a norm in IB? Can't the management just increase the headcount even if it's just contract position to reduce the workload distribution per person

-Is TS still working ~100 hours per week currently? Your posts seems that you are enjoying what you are doing

-Do you or your colleagues have any health issues which is the consequence of working excessively long hours?

malaysia got lots of qualified peoples, but the problem is the HR interviewers are the unqualified OL thats likes to involves in office politics...

Is training provided for this job?

RHB-OSK merger the largest investment bank (by assets) ? - Dude, Investment banks don't have big assets. Thier asseets are entirely made up of employees and furinture & fittings. That's it.

Asian Banks are still suckers to the Goldman and Morgan Stanleys of the world.
Simply becuase those banks have the capacity to pay bulge bracket pay to hire the brightest talents, while the local banks are just feeding on scraps or people who these bulge bracket investment banks reject.

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Added on August 26, 2012, 3:04 pmIf you can't work late, forget about working in the banking sector. period. let alone investment banking.
It's the nature of the job. There is a reason why banks (investment or commercial) pays alot of in terms of salary and bonus compared to other sectors and its NOT for you to go home at 6.00p.m. sharp.

This post has been edited by mercury8400: Aug 26 2012, 03:04 PM

1. Cos good ppl r really hard to find. Even contract staff cannot be filled easily. If any, I think a concierge/maid service would help to reduce the downtime or less productive time.

2. Yes, this week seems to be 100 hours.

3. Non actually died from that.

@IBank
Transaction Banking I believe refers to Commercial banking not Investment bank correct ? (however, CIMB parks it under their Investment arm. Not sure why)

What kind of bonuses banks generally provide in transaction banking (Product Development) ? Can please provide a range?

Normally, I would not bother to respond but there is a need to clarify "Thier asseets are entirely made up of employees and furinture & fittings. That's it.". If IBs only have employees and furniture & fittings as their assets, the sub-prime crisis in 2008 will have much smaller impact or "may not even happen at all" (I do not wish to dabble into the leveraging part and repeal of Glass-Steagall Act)

Please check the following links: http://ycharts.com/companies/GS/assets and http://ycharts.com/companies/MS/assets. GS - nearly USD1 trillion and MS -USD749 billion of assets as at 2Q12 (btw, staff are not part of balance sheet). Yes, talents are KEY in IBs but size and scale DO matter. IB work is not only pure advisory work - there are other aspects of IB operations that require capital & $$$l.

As for your "bashing" of the local IBs, I am just wondering whether are you currently working or have worked in investment banking? Of course, local IBs do not have the global outreach of foreign IBs but Msia local big IBs are NOT bad as you make them sound (do you know how much CIMB and MayBank (under TZ) are paying for senior staff/ top performers?) Do you know which IBs are the global coordinators and book runners for the world's second and third largest IPOs in 2012 (until July 2012)? Yes, you may call them "jaguh kampung" but Msia IBs are not too bad on an Asean scale... it will take time to build up, at least I can see them up and coming in the Asean region.

If TS is genuinely offering an opportunity, why not? (even though I do not endorse 100-hour week) Not everyone can get the opportunity to get into bulge bracket IBs and the opportunity is even rarer in Msia (BTW, GS does an office in Msia at Menara Maxis since it has fund mgt/corporate finance advisory license in Msia but most of the deals in the region are still done from Spore and HK).

This post has been edited by chabalang: Aug 26 2012, 10:21 PM

not quite true.

yes, i agree that advisory work requires capital. However, for the case of local IBs, they are usually a subsidiary of a banking group, therefore these IB subsidiaries can tap on the banking group's balance sheet. For example, to fund an M&A transaction, the IB subsidiary usually do not provide funding, but will be funded by the banking group itself. thus, usually for local IB, they don't have big balance sheet.

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Added on August 26, 2012, 10:24 pmyup, totally agree

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Added on August 26, 2012, 10:40 pmunlike most businesses, IB transactions are usually non-recurring deals - e.g. a company can only ipo once, and it is high dependent on the capital market. therefore, there can be period where there's nothing in the pipeline, and do not need that much headcount. however, when deals happen, and in many cases clients would push for tight deadline, then the I-Bankers need to work long hours to meet the deadline. in the short timeframe, it will be difficult to hire new ppl immediately.

from my experience, 100h / week is not uncommon, but doesn't happen throughout the year. it happens during peak period, e.g. when there are big deals coming in. it's a good sign though - means can expect big bonus the following year


This post has been edited by pentel: Aug 26 2012, 10:40 PM