This is the first time I hear CF jobs paying OT... meal allowance yes but official OT?

---

Added on June 23, 2012, 10:17 pmIB bean bag.... The salary you talk about here doesn't seem to reflect the true market price. Although I hope I'm wrong too. You're talking about non-Tier 1 local CF.... end of third year, 8k basic sounds like it's on the high side. You mentioned "a lot of ppl making close to 8k on basic" so I have to be skeptical about this, star performers maybe. Most CF jobs reward employees from bonuses which can go up to more than 2 years but their basic salary should be lower than that based on local Tier 2 or Tier 3 levels.

Also, if you're making 8k per month basic, it wouldn't make much sense for you to move to CIMB for an extra 1500. Bonus is not guaranteed, unless they offer you a sign on bonus.



This post has been edited by fletcherwind: Jun 23 2012, 10:17 PM

On OT, u think they pay u RM10 meal allowance ah? From our side, the meal allowance is crazily high 1. It can exceed RM100 on some days. The only reason I can think of is by calling it meal allowance, it is not taxable. Your tax normally is 20+% at top tier, so u can see that giving u sumthing not taxable is how wonderful ya?



a lot of people means not one or two, means it is not rare. I do not know everyone's salary. I am talking about tier-1 local CF because I am tier-1 local ECM. And the people who I know their salaries, they were tier-1 CF at some point of their life (not CIMB).

If u will get into the ECM position in my bank, u r ready to be star performer. Because the whole department only has star performers. It is in our culture. It is up or out, that is why I am cautious about who to get because I do not want u to be jobless.

I am projecting 3,500 for the 1st year and apply 30% increment for the next 3 years. Your wage growth get slow down only if u hit 7,000 and even slower after u hit 12,000.

If you are damn good and I dun give u increment, other bank will poach u with 40% increment. The art of managing talent vs cost is I make it difficult for people to build a 20% premium on you.

End of first year = RM4,550 (if add 20% premium = RM5,460)
End of second year = RM5,915 (if add 20% premium = RM7,098)
End of third year = RM7,689 (if add 20% premium = RM9,227)

Your downside in absolute amount in each year is around 10% from the aforementioned figures as follows:

End of first year = RM4,095 (if add 20% premium = RM4,914)
End of second year = RM5,323 (if add 20% premium = RM6,388)
End of third year = RM6,920 (if add 20% premium = RM8,304)

The figures with 20% jump ship premium looks like what CIMB would pay if they really want you.

On your 2 years bonus, only CIMB does that. Not getting double digit from CIMB is a very unfortunate event for many ppl, bcos it means u r getting laid off if a retrenchment takes place. It is not guaranteed, but it is almost like given kinda thing.

---

Added on June 23, 2012, 10:52 pmThat is why you need to do ECM, but the ratio of ECM vs CF is so low in tier-1 local IB. Not every year we hire ppl for entry level.

Whole town only 50 ECM ppl i guess, good 1 only 20 at most.

ECM doesn't need to photostat that much because we don't do submission and best thing is we dun do submission to SC and Bursa.

Once you are good, you dun need to check line, check spacing, check spelling.

Only ppl who's english is not clean need to check line check spelling. That is why we hire ppl who have good english.

So that we both no need to check.





This post has been edited by IBank BeanBag: Jun 23 2012, 10:52 PM

I hope you're genuinely looking for people because many fresh grads here are looking for an IB related job. But, the things you say .... I can't help but to take it with quite a pinch of salt. For e.g. your company's variable >RM100 a day meal allowance...

genuinely looking for people. Bro, if u have not seen >RM100 a day meal allowance, u PM me your XXYYZZ@my.oskgroup.com, @affininvestmentbank.com.my; @alliancefg.com; @ambankgroup.com; @hdbs.com.my; @kenanga.com.my; @midf.com.my etc etc.

I send you sumthing for you to see. Bcos u have never claimed those stuff dun tell me it does not exist.



This post has been edited by IBank BeanBag: Jun 23 2012, 11:43 PM

No, I don't work for those.

Allowance and reimbursement is different. But anyway, good luck in looking for someone credible.

don't u feel like seeing the >RM100 allowance? CF ppl like to sight things. if u have fren that need some sort of hints that this is true. let me know.

Yes, allowance is different then reimbursement. It means i put rm100 in your pocket, u can eat cup noodles and keep rm98.

do you think they know your result meh? even my colleagues don't know my result.
If in equity research also no need technical meh?

no la bro, i think possibly he's trying to make a point saying nowdays our money had become small man, small!
Back in those years, i think 20-30 cents can get you a cup of aromatic kopi O, now, 20 cents and u go the mamak, you cant even buy bread crumbs.

welcome... welcome............

WELCOME.............

to the real world..........................................

rise of the the generation Y era

goben say WE hire foreign worker cause they are cheap, well not, I hire foreign worker who`s salary is double of local, even I pay local tripple also they are not willing to work.............

Hi IBank BeanBag,

What are the tasks and responsibilities for ECM analyst?

Do you spend most of your time refining the valuation models (DCF, Ccomparable Companies, precedent transactions) and refining the marketing pitch book?
Is ECM work related to staying on top of the market, following current trends, making recommendations to industry and product groups for clients and pitch books?

I'm guessing that in ECM you would mainly work on IPO, debt issuance and private placement.

Thanks.

This post has been edited by vaan4: Jun 24 2012, 05:13 PM

You pretty much just answered your own question...

if u want to show me ur cv, just pm me for the email.

+1

Exceptional performance is a very iffy thing in today's market. Furthermore, genuine KPI accountability only works in a society that is not prone to office politics "for the sake of office politics".

The problem lies in the intention of TS which he wants to interview only candidates from top 200 unis ( i don't think he only wants that, he wants those from Imperial, London School, or maybe Wharton) with excellent results ( presumably strong 2nd upper and 1st class honours).

If there is such a person exists in Malaysia, i fail to see why he or she wants to join TS's bank. He might as well aim for Mc Consulting, Bain Consulting, CIMB, Maybank , Bank Negara , Khazanah and etc.

So, there goes TS endless whining and complaining.

Or, TS just wanna TROLL.

Granted, but even at 70 hours (the minimum that you have suggested) is by far in excess of the average overworked staff. Definitely a bitter pill for Next-Genners to swallow. Those already in the creative and communications industry are complaining about hours in excess of 60 per week - what more the figures that are being demonstrated in investment banking.

Of course, the two do not function at the same level nor capacity. However, one important thing to point out is that despite the remuneration being clearly better, there is always an applicable of diminishing returns on any reward - monetary or otherwise.

As for Quality of Life, I believe it is an empowerment issue. Any individual should be given the option to improve on their QoL at any stage of their career. This is an important aspect to address if the hiring party wants to secure good talent.

Every organization's administration must realize sooner or later that QoL does not necessarily mean monetary rewards. It could be something as simple as access, trust or even tiny perks that make the overall work experience easier to bear.

By putting the carrot (QoL) all the way at the end, many will not be motivated to take part in this race. Many of our forefathers and seniors have taken this road and have found that there was NO CARROT at the end, despite what they were told.

IMHO, TS should try to get those people from local Unis such as UM, UKM with exceptional results or maybe NUS/NTU/SMU.

But i dont think those studying in SG would come to KL and work though.

Please don't mind me being straight forward.

I find that TS' tone and statements quite unreliable and way too exaggerating, not as professional and solemn as one who works in a bank should behave.

LOL, pls dont tell me your definition of paying local for 30 ringgit per day is triple of the 20/10 ringgit per day that you are paying locals.

Dear debbieyss,

Assuming you are replying to me:

Nothing to apologize for. I find that your observations are often fresh and with insight. I happen to particularly agree with this line of observation that you have put forward earlier regarding bonuses and their subjective unreliability.

Hi, I think you have got me wrong. I was actually referring to TS, TS is an abbreviation for "Thread Starter", which is pointing directly to IBank BeanBag.