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.

Yes, I agree with your point (at least I know that you are well aware of IB operations). Local IBs tend to "piggy back" on the whole financial group's balance sheet. That's why OSK need to merge with RHB to ride on RHB Capital balance sheet. Yes, local IBs' balance sheets are relatively Small compared to their commercial banking arm but they are still in billions. The purpose for my two earlier posts was to show that asset size (either on IB standalone or as a group) do play a part, and RHB with OSK will not be small in M'sia and will have better regional outreach.

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).

Diligent and meticulous. Willing to work up to 70-100 hours / week during peak period.

Are you kidding me? 70-100 hour / week is like 14-20hours per day if it is common 5 days work. Make me scare to for interview with an investment bank next week.

Are you kidding me? 70-100 hour / week is like 14-20hours per day if it is common 5 days work. Make me scare to for interview with an investment bank next week.

I'm willing to work hard and learn so long i get paid well. im from banking call centre tho with a record of 50+ ours of OT ><

As for one of the poster who said IB mainly does non recurring deals, that's not absolutely correct. This is because not only can a company go for IPO, there are a lot more corporate exercises (for eg, bonus issues, acquisitions, etc) that can be done.

RM70k pa = RM 5.83k per month
work like 100 hours a week, while other normal jobs work not more than 50 hours a week, they are getting paid at rm2.8k for freshgrads

hence what so special about the high pay, you work double the hours than most people, so you deserved for the double of most people earn

don't count in the bonus, that would be an unfair comparison

I am amazed how short-sighted our graduates could be. Perhaps it should be called job seeking myopia.

IB not only give u more $ up front, it forces u to grow fast, thus promoting u very fast. Who gives u 30% increment year after year if you perform?

I am amazed how short-sighted our graduates could be. Perhaps it should be called job seeking myopia.

IB not only give u more $ up front, it forces u to grow fast, thus promoting u very fast. Who gives u 30% increment year after year if you perform?

Well, health is one key reason why people refuse to work 100-150 hours a week despite the slightly higher pay.

Research shows that working anything beyond a certain level and it breaks down. Not to mention the obvious illness you are bound to get from long hours and prolonged stress like hypertension, diabetes, weight gain, heart problems, etc. Also the lack of social life i.e. you will have very few (if any) friends who are not clients or other bankers and i suppose no time for gf/wife.

No amount of money can compensate for health and social life.

Besides, with the lacklusture market conditions and extremely fragile external economies these days, not many Investment Banks are paying obscene bonus anymore, if they are even paying it in the first place.

IBanking is no longer as glamourous as it used to be with regulators slowly but surely clamping down on salary scale and bonuses and the extra regulations and compliance thanks to Lehman Brothers, Sub prime crisis, etc

Need good ppl now