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Tips for Investment Banking

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  1. #1

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    Tips for Investment Banking

    Guys, I am looking for advise as to how I can land a job in investment banking from the Big Banks (HSBC, JPM..etc). For a BBA undergraduate from any of the big 3 universities (HKU, HKUST and CUHK), what things do they look for in a candidate other than their grades? I am currently pursuing Accounting as a major and computer science as a minor. Looking for advise from people who are in ibanking or who have tried before. thanks


  2. #2

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    Investment banking is a very wide field so you should first figure out what area of investment banking you want to consider or at least you should know about it more (except you really only want to do m&a but that would be way too narrow in my mind). Depending on this, requirements can be different.

    One thing that is always there though is that you have to build connections and networks into the industry to give you leads for internships and jobs in the future

    EuroDash likes this.

  3. #3

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    Look for the oncampus recruiting programmes that come to your school. The banks will send reps there to answer any and all questions. Besides marks the other key assets are Mandarin written and verbal skills, global outlook, curiosity and an inquisitive mind and a team oriented attitude. This is for front office roles. I cannot speak for back office functions.


  4. #4

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    threelittlepigs has pretty much summed it up so .. pls do your own research first. here are some tips from me

    1. try to get an internship. all i banks in hk (first and second tier) offer summer internship programmes but i believe the deadline for the 2016 programme has long passed and most banks would have completed most hiring by now

    2. if you are a first year student on a 3-year course, or a second year student on a 4-year course then you should try to join the spring programme to gain an insight, and most importantly network. but again, i believe the application deadline (for 2016) has passed.

    in general, for the front office roles, the first tier i banks prefer hiring hungry mainland chinese students who are fluent in English, usually US or UK educated, or least from the very top students from the top mainland chinese universities. these students would have done some sort of internship in the related field before applying for the summer internship programme.

    hk local students from local universities would also be hired but these students tend to be outstanding, fluent in english and mandarin, and all rounded. (some desks in the front office actually require a fluent canto speakers or other Asian languages depending on the desk coverage and clients )

    for the middle and back office, in general, they would hire more local students or mainland chinese students. fluency in english is absolutely essential.

    in short: the basic things i banks or any employers look for when hiring a graduate are:
    hunger to succeed
    knowledge of the industry, micro and macro
    excellent team working skills
    excellent communication skills

    if you can't through the campus route (given the current climate, the hiring number has gone down unsurprisingly) just work elsewhere and build experience first. there are many ways to enter the industry as an experienced professional

    shri, EuroDash and threelittlepigs like this.

  5. #5

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    Thank you very much for your input.

    I am studying a penultimate year student at HKUST. I've applied for J.P Morgan, Morgan Stanley, Citibank and HSBC however I didn't make it through to any of their summer internship. I am fluent in English, French and Spanish however I only have basic communication skills in Chinese. I am a local who went through the IB curriculum thus why I am not fluent with cantonese/mandarin.

    Am I at a disadvantage then in regards to my language skills? I am planning on pursuing a CPA while working with any Big 4 and trying with investment banks again. Would you recommend this route or is it better to work for any division of a bank and trying again for a career in iBanking if I do not make it to the big investment banks through the campus route?

    Thanks


  6. #6

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    Thank you very much for your input.

    I am studying a penultimate year student at HKUST. I've applied for J.P Morgan, Morgan Stanley, Citibank and HSBC however I didn't make it through to any of their summer internship. I am fluent in English, French and Spanish however I only have basic communication skills in Chinese. I am a local who went through the IB curriculum thus why I am not fluent with cantonese/mandarin.

    Am I at a disadvantage then in regards to my language skills? I am planning on pursuing a CPA while working with any Big 4 and trying with investment banks again. Would you recommend this route or is it better to work for any division of a bank and trying again for a career in iBanking if I do not make it to the big investment banks through the campus route?

    Thanks

  7. #7

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    Original Post Deleted
    My experience is many, many years out of date (and I was in the tech side), but back in the day I went on campus recruitment drives but the HR bod flatly admitted to me that they didn't bother recruiting from the local universities. They did the drives simply as a long term brand building exercise.

    The bank mainly recruited from a narrow list of US/UK universities. And internships went to people with important parents, or who were likely to be super high achievers after university so again this was mainly a networking excercise. I knew a bunch of interns in HK and the UK and none of them joined the bank, but would have been useful people to have as part of the bank's extended network.

  8. #8

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    OK, who do you consider top tier investment bank in Asia? Goldmans, MS, HSBC, JPM - yes. UBS, Citi, Credit Suisse, BAML - OK. DB, SCB, Barclays, ANZ - all reducing scale in Asia, so no. and then the more niche players Macq, BNP. The Japanese banks are making a big splash on the loans side but not really considered iBanks. The Chinese banks are aggressive but little international presence.

    Only a few of those names would hire from local unis - look for the ones with large HK client base. If the top tier will not hire you then try the lower tiers - eg apply to BNP and hope to get a French guy to interview you and surprise him with your French language. That probably means more than marks. Network - join rugby clubs. If you get a CPA, then forget about joining a front office role down the line. Those days are gone. You might get a Compliance role or something in financial control.

    Your better off getting an MBA from top school (like HKUST/Kellog), getting a MSc in Financial Modelling from Monash and CFA. Legal degrees are quite handy too.

    EuroDash likes this.

  9. #9

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    Quote Originally Posted by EuroDash:
    Guys, I am looking for advise as to how I can land a job in investment banking from the Big Banks (HSBC, JPM..etc). For a BBA undergraduate from any of the big 3 universities (HKU, HKUST and CUHK), what things do they look for in a candidate other than their grades? I am currently pursuing Accounting as a major and computer science as a minor. Looking for advise from people who are in ibanking or who have tried before. thanks
    Ibanking to do what?

    Trading? Structuring? Sales

    Financing? Structured? Corporate?

    Advisory?

    m&a?

    Support functions?


    Sent from my iPad using GeoClicks

  10. #10

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    Thank you very much for your detailed input.

    One of the reasons I joined HKUST because of its reputation for business - Even better than most US universities other than Ivy League Universities. I have had a few acquaintances from HKUST who landed a summer internship in J.P. Morgan in various iBank functions - Some common qualities I noticed is fluency in English, Cantonese and Mandarin.

    By the way, can you please let me know which IBs don't recruit local university grads because it is exhausting writing a cover letter knowing it won't even be looked at. Currently, I am hell-bent on making it to JPM, MS and Goldman thus making sure I take every step towards my goal.

    Since you mentioned that IB is a shrinking industry, do you think it is still sensible of me to pursue this career. It is a rewarding career in monetary terms - Despite liking the industry, I plan to eventually start my own practice once I have the network and funds. Nevertheless, I would be grateful if i could get your opinions. And just to be sure, are you a recruiter for any ibanks? thanks

    Last edited by EuroDash; 12-04-2016 at 11:18 PM.

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