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 Breaking into Investment Banking, Help needed

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professordrone
post Dec 30 2015, 12:10 PM

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Applying through places like jobstreet won't really help that much. Your probability will be higher if you e-mail your application directly to the employer i.e Investment Bank or Stock Brokers (if you do not have a person to help you from within the capital markets industry or the employer). I agree with Dreamer09 about the investment society (capital markets as commonly referred to) being relatively wide. There are so many job functions you can apply to. So, knowing what you want to do in the first place can really improve the probability of landing your dream job.

The ones that are generally sought after by employees are positions for i) equity dealer (not entirely the same as remisier); ii) futures dealer; iii) fund manager; iv) corporate finance advisor; v) sell side research analyst; or vi) Compliance officer for equity / futures / fund management / IB. In addition, you can also check out jobs as a forex and money market dealer in a treasury department of an IB (not so familiar with this). These are all considered as regulated activities in that you have a statutory body like the Securities Commission, Bursa Malaysia and Bank Negara to regulate your conduct. Hence, each and every one of the function requires either a license or registration. Refer to the licensing handbook - http://www.sc.com.my/wp-content/uploads/en...inghandbook.pdf

As indicated in the licensing handbook, you need to pass certain exams from SIDC and be attached to a principal in order to apply the license (CMSRL). The exams (modules) for each functions are listed as follows:-

http://www.sidc.com.my/licensing-examinati...les-description

For treasury functions, you might want to have a look at the PKMC exams:-

http://www.ppkm.net/wp-content/uploads/201...121228-PKMC.pdf

Good thing is, you can either take this exam before or after you get the job. But, my take is, why wait for an employer to take a chance on you when you can sit for the exams and save them the hassle. Having these exams will give them a good first impression on you and it will give them something to ponder about. These exams tells the employers that you have a good base of understanding about the industry and the required knowledge of a particular job function (not in depth). Plus, it doesn't cost you that much for an investment in education. Fees per exam are:-

http://www.sidc.com.my/SIDC/files/f7/f7cbb...a0750967d5c.pdf

Book prices are:- http://www.sidc.com.my/SIDC/files/16/16019...38434b1ae6b.pdf

The more exams you have, the more it would be an eye opener for the employers (my 2 cents). Do not worry too much about your alma mater or what you study in college. I've seen and talked to people with degrees that are irrelevant to the market and yet they managed to deliver. It's your task to prove to them that you have an advantage in that you carry something different to the table. I'm a law grad from a local university and my grades are pretty shi**y. Suffice to say that it's difficult but not impossible and I've tried almost everything in the industry. So, put more cosmetic to that resume of yours and impress them.

Another useful skill that you might want to consider is financial modelling. You can get a decent course online. I recommend 'Break into Wall Street' as it teaches you the things you need to understand from basic. For certain job functions, i think it helps to understand a little bit about 'technical analysis'. CFA does help a lot, but it would be easier to comprehend the materials if you are already in the industry. Otherwise, it can be really frustrating. The industry is really competitive and you need to start somewhere and stand out from the rest. Therefore, I agree with CcL, get one foot in the industry first (apply to smaller firms or non-core job functions and climb your way up). You'll appreciate the experience.

Those of you who needs guidance or a tutor to pass the exams from SIDC, feel free to contact me to make an enquiry (professordrone@yahoo.com). I can cover module 6,7,9,10,11,12,14,16 and 19 (19A or 19B).

Good luck and all the best to you! smile.gif



 

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