Are mgt assoc programs at citi/stanchart/hsbc worth pursuing?

[hustler]

I've been considering the management associate programs at banks like Citi, Standard Chartered, DBS and HSBC.

It seems to me that you don't get to choose which role you are assigned to. Many of these MAs end up in commercial banking, rather than asset management or IB.

What is the career progression and salary progression of a MA like?

enter UOB MA program, you can end up in transaction banking.

ERM. Of course it is worth. The question should be, are you of any worth to these banks?

"Management associate" sounds like a nice title, but it's not as prestigious or high-paying as specialized roles like investment banking, sales & trading, private equity or asset management.

You should go for these specialized roles if you have the opportunity. The problem with MA is you might end up in back office or some department you don't like.

Originally Posted by Unregistered

"Management associate" sounds like a nice title, but it's not as prestigious or high-paying as specialized roles like investment banking, sales & trading, private equity or asset management.

You should go for these specialized roles if you have the opportunity. The problem with MA is you might end up in back office or some department you don't like.

At least the MA's starting salary is higher than those specialized role. 4.5k minimum for these foreign banks.

For those who are still unsure which specialized role or dept he or she wan to be involved in, joining MA would be the ideal choice. Job rotation in most of the depts allow you to familiarize in majority of the processes and products the bank is taken charge of.

I am just doing HR in one of these banks btw.

Of course that is assuming you are able to get into any of the MA programs. They take only the top grades and have extremely competitive tests and interviews to go through. DBS MA program for example includes group interviews, group projects etc and how you can differentiate yourself from the other candidates who are interviewing together with you.

Banks use the term MA too loosely.

As example, Citibank has a so called IT MA program. Lots of computer science/ engineering grads inside.intake is huge
False glamour/title only.

Just another IT executive..

Originally Posted by Unregistered

At least the MA's starting salary is higher than those specialized role. 4.5k minimum for these foreign banks.

For those who are still unsure which specialized role or dept he or she wan to be involved in, joining MA would be the ideal choice. Job rotation in most of the depts allow you to familiarize in majority of the processes and products the bank is taken charge of.

I am just doing HR in one of these banks btw.

MA's pay is not the highest for fresh grads.

Starting salary for fresh grad:

IB analyst >9K
Sales & Trading analyst >8k
Financial consultant at Oliver Wyman 8k
MA at HSBC/UOB/DBS/OCBC - $4000 - $4800
MA at Citi, Standard Chartered - $3800 - $4000
Operations at Credit Suisse, Goldman Sachs, Bank Of America, etc - $3,750

I would strongly recommend starting your career by joining an MA/Graduate programme.

Higher starting salary aside, it helps that you are seen as 'top talent' by the firm and the amount invest in you for training and networking opportunities is tremendous. Rotations also help to provide a rather holistic view of the company's operations, as compared to your peers who start a role and stay there for at least 2 years before making a mobility move. Best of all, in banks like DBS, UOB, HSBC etc. you tend to be fast tracked.