How to get into Banking industry?

[coolcat25]

Originally Posted by Unregistered

you went overseas for study?

your internship might not be a good match for the banking industry. you might need to start from entry level contract jobs.

yes i went overseas to study. what kind of contract jobs u suggest? thank you

[coolcat25]

Originally Posted by Unregistered

you went overseas for study?

your internship might not be a good match for the banking industry. you might need to start from entry level contract jobs.

oh yes i know im incompetent atm. i did try for ops assistant role in a bank but the recruiter does not even want to bother giving me the role as he feels i might be over-qualified. he said for ops role need o level cert only and the pay is too low. i said im ok with 2K as a start but he then slams saying that the role is now open for internal transfers only. so i understand from myself from this that i cant go too low or entry level if bank recruiters are not willing to give anyone above diploma level for entry starters.

Hi all, what are your views on transaction banking sales in corporate or FI sectors?
I know it is not as prestige as your IBD and S&T, can it still be considered as a good FO role?
What are the chances for junior Mid/Back office executives to make the switch or even fresh grad?

How is the progression and compensation like in a short or long run?

Originally Posted by Unregistered

Hi all, what are your views on transaction banking sales in corporate or FI sectors?
I know it is not as prestige as your IBD and S&T, can it still be considered as a good FO role?
What are the chances for junior Mid/Back office executives to make the switch or even fresh grad?

How is the progression and compensation like in a short or long run?

It might not be as prestigious as IBD and S&T, but it is still a front office role which will give you more excitement and prospects compared to MO/BO.

How easy it is depends on your internship experiences as well as how relevant your current role is. There are many MO and BO roles, and they are not the same.

I'd imagine if you are currently in Treasury, it would be easier to go into transaction banking sales because you might have the relevant product knowledge already.

if you are a girl, and pretty enough, you will find it easier to enter as entry or fresh. can go for RM roles. To score a few big deals when you are new helps your progression tremendously. find a male sponsor (boss) and be prepared to Go the Extra Mile (GEM) esp during probation period.

btw, for certain jobs, they look at where u stay as well.

I don't think it is worth doing operations and programming type of jobs in banks. These type of jobs have moved to India for one fifth of your salary.

I believe there are 2 ways.

1. Get a professional cert related to the area of banking you wish to enter. Give HR a reason to call u in for an interview.

2. Keep applying, especially contract roles. The shorter the contract, the lower the amount of applicants. This is how i got in, my degree was totally irrelevant to banking but i accepted a 3 month contract to remediate some admin stuffs. Slogged like crazy and completed all the remediation in less than a month. As there are 2 months left, i was helping the team with their BAU stuffs. Someone resigned within the 2 months and i was the no brainer choice to take over in a permanent capacity.

Originally Posted by Unregistered

I believe there are 2 ways.

1. Get a professional cert related to the area of banking you wish to enter. Give HR a reason to call u in for an interview.

2. Keep applying, especially contract roles. The shorter the contract, the lower the amount of applicants. This is how i got in, my degree was totally irrelevant to banking but i accepted a 3 month contract to remediate some admin stuffs. Slogged like crazy and completed all the remediation in less than a month. As there are 2 months left, i was helping the team with their BAU stuffs. Someone resigned within the 2 months and i was the no brainer choice to take over in a permanent capacity.

2nd option is a brilliant strategy. thumbs up

[JobHunter45]

Originally Posted by Unregistered

I believe there are 2 ways.

1. Get a professional cert related to the area of banking you wish to enter. Give HR a reason to call u in for an interview.

2. Keep applying, especially contract roles. The shorter the contract, the lower the amount of applicants. This is how i got in, my degree was totally irrelevant to banking but i accepted a 3 month contract to remediate some admin stuffs. Slogged like crazy and completed all the remediation in less than a month. As there are 2 months left, i was helping the team with their BAU stuffs. Someone resigned within the 2 months and i was the no brainer choice to take over in a permanent capacity.

Admire that you have the hunger and tenacity to go for what you want, and glad that things turn out well for you!

Having been in the banking & financial industry for more than 10 years previously, my word of advice, don't enter into back office operations now, especially if you are new, young and thinking of working your way up the corporate ladder in BO ops. As someone has shared previously, many banks have shifted their BO functions to overseas offices, unless you are aiming for local banks. Alternatively, I would suggest asset/fund management companies, which also have operations functions.

If your desire is to get into the banks (in any kind of role), and is willing to learn and pick up official certification or degrees, why not try taking up a specialise degrees in areas like quants finance or data science, or certifications like risk management? These niche skills or certification will give you an edge to apply for specific roles in the banks.

In today's world of fast moving technology, automation, and data science, generic BO operations functions are being phase out very quickly. I have started out as Ops many years ago, and over the years my role evolved to something that is no longer pure Ops (of course in between include alot of retraining, taking up new skills, etc.).

In any case, good luck in your search.