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  #1151 (permalink)  
Old 28-06-2022, 12:58 PM
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i just got offered 5k/month at uob for branch retail manager, is that a good rate?



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  #1152 (permalink)  
Old 28-06-2022, 05:41 PM
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Most of the NUS / SMU / NTU types are grinders. 18-20 months of internships (3 x 3mth summer internships + 1-2 x 6 mth off-cycle). Very clear these are not the “rich daddy” types. Involved in a million investment clubs, case competitions, etc. Solid technicals, but can veer into being too hardo. And they have a good mix of social and hardworking skills. My feeling is 80% of them can party / club / drink hard and work till 2-3am. Can live it up with expensive meals every weekend, travel whenever they can.

The ‘rich daddy’ types are quite easy to spot - tier 3+ US college (USC, no name east or west coast colleges), no hardo vibes, smooth and can talk to MDs and senior folks without much nervousness (presumably because they meet lots of them socially in their family life). Typically done a couple of internships in the US/UK too where it’s less competitive. Technicals are ****, but some can get better. Banks also don’t practice white horse intern hiring as explicitly as before - because they have been clamped down on before.

Last group are the ivy leaguer / oxbridge types. Rarer these days. Some are more cerebral, others are more social - sometimes hard to tell if they got there boosted by a wealthy upbringing or were academic hardos in JC/uni. Probably the least hardo of the bunch. Representation in large US buyside funds is slightly more than IB pro-rata, esp for the US ivy grads.
Bankers should so elite…

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  #1153 (permalink)  
Old 28-06-2022, 07:28 PM
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Bankers should so elite…
Bro banking IS elite. That’s why only those who take the grind can make it. You are being off elsewhere



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  #1154 (permalink)  
Old 28-06-2022, 07:34 PM
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JPMORGAN 2022 corporate and investment bank inside the industry - what year of student are they looking for? Junior/soph/freshman?
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  #1155 (permalink)  
Old 28-06-2022, 07:35 PM
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Most satki are those that played in hall and still broke into IB, pwn all those hardos and nerds.
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  #1156 (permalink)  
Old 28-06-2022, 07:40 PM
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Bro banking IS elite. That’s why only those who take the grind can make it. You are being off elsewhere
Sell credit card elite or not? Close a deal elite or not? Alpha seeker elite or not ?

Is all perspective lah
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  #1157 (permalink)  
Old 28-06-2022, 07:57 PM
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JPMORGAN 2022 corporate and investment bank inside the industry - what year of student are they looking for? Junior/soph/freshman?
ITE students
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  #1158 (permalink)  
Old 28-06-2022, 10:19 PM
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JPMORGAN 2022 corporate and investment bank inside the industry - what year of student are they looking for? Junior/soph/freshman?
It's for pre-penultimate, which means mostly for soph, but sometimes freshman can also join such program after the end of their Y1S2
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  #1159 (permalink)  
Old 28-06-2022, 10:34 PM
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Eh hello, its high finance thread, why you all random CIMB/Transaction Banking/whatnots always flock this thread and spam sia. Go make your own la.
Dbs treasures deals with UHNW clients so its under high finance
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  #1160 (permalink)  
Old 29-06-2022, 12:37 AM
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Cool

hello, was browsing through this thread and saw there are couple of misconceptions around the IBD industry.

There was a comment about hard work trumping networking ability, I would say by and large this is right. Unless your parents are C-suite at a major corporate client, most people 'break in' through sheer grit, hard work (studying like crazy for interviews, racking up internships and the like), and of course a little bit of luck.

Even if your parents are hotshots, the major banks have very bureaucratic hiring systems which act as a filter against hiring if you have a close relation to a major existing client, due to issues with conflict of interest. I think only boutiques (Evercore, Greenhill etc.) have leeway to work around those restrictions.

Personally, I'm a second year analyst a tier-1 BB bank - happy to answer any questions to clear up the mystery shrouding this sector.


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