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Old 22-05-2015, 04:25 PM
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Originally Posted by rampa001 View Post
Yes I meant doing operations in a Investment Bank.....actually looking at my peers and based on what I've heard It's really hard to get into other departments without a strong Finance background (My Masters is a general management degree with one module on corporate finance) and I don't have a CFA (not even lvl 1). I also don't have previous work ex in programming / software modelling either . So what i thought was to get into the Bank first via Operations where I kind of have a chance (I thought !) then work on a CFA or something later ?? any ideas are most welcome....Thx
Please don't fall into the prestige trap. I have nothing against Operations (I appreciate their work, really), but it would be a waste to work in Operations even if its in an Investment Bank. Unless you're willing to embark on a career where you do mostly stuffs that don't really require any specific technical knowledge, I suggest that you avoid Operations/Technology (AKA Back Office).

To give you a context about operations:
Primary job scope:
(1) Clearing Trades: To make sure that the records one bank has kept of the sale of a financial security match those of the bank or organisation it sold the security to.
(2) Settling trades: Covers everything from preparing the documentation required for a sale, to making sure the bank has been paid for all the shares it has bought and sold.

What is so "Bad" about operations?
(1) Largely requires no technical expertise
(2) Easily outsourced
(3) Relatively lower pay
(4) Lack of career progression (Unless you can play politics really really well)
(5) Monotony

For your case, if you don't have much financial knowledge, your best bet within the banking industry would be:
(1) Risk: Operational Risk (you may try for Credit/Market Risk too, but will be harder)
(2) Compliance
(3) Retail banking: Sell credit card (not kidding; you can be really successful if you're good)

Those two roles are considered to be "middle office", and would be better than Operations. If you're thinking to get into a bank first, then network your way to the other departments: This is not impossible, but will be very difficult.

Also, the banking industry doesn't really pay that much higher at all. If they pay higher, it's usually front office roles (i.e. Investment Banking or Sales & Trading). This slightly "higher pay" is often compensated by the volatile nature of the job (i.e. they are more willing to hire & fire). Goldman, CIMB, Macquarie, etc, all scaled down their Singapore Investment Banking teams recently. Don't choose a job just because of prestige; I don't find banking prestigious at all. But you may wish to join banks for other reasons that I don't know.

If I were you I would really explore careers in other companies. Just search around. I'm sure many would at least interview you, since you have a reputable MBA.
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