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-   -   High Finance Thread (https://forums.salary.sg/income-jobs/11831-high-finance-thread.html)

Unregistered 29-07-2019 01:02 AM

Quote:

Originally Posted by Unregistered (Post 122201)
personally, i'm interested in equity research or sale and trading, but given my big 4 tax advisory background, how do i go about changing field?

For Sales and Trading, it is almost impossible to break into the field as an experienced hire without a strong quantitative degree (Math, Engineering, CS etc) or relevant experience. I assume you have an Accountancy degree?

For Equity Research, it is very possible since they are not really particular about any specific background. However, a background in tax would be less competitive/attractive as compared to Corporate Finance or even Audit since it is less finance-related compared to these fields. Since you are already in the Big 4, the ideal path would be to first lateral into the Transaction Advisory/Valuation team. The scope of work and skill set required by these teams would be more aligned to that of ER, in that they are more finance-related (Involves Financial Statement Analysis, Modelling etc).

If not, you can try looking at boutique corporate finance advisory firms by performing searches on Google or Linkedin. There would usually be a company e-mail or phone number listed on their website which you can try using to contact and introduce yourself. These firms are usually less stringent compared to other more established shops with regards to relevant experience.

Either way, you have to demonstrate interest in investing in general. These can mean reading investment-related books (think Securities Analysis or Intelligent Investor), keeping up with financial news (CNBC, WSJ, FT). Most importantly, you need to learn how to make and justify an investment recommendation. I would recommend seekingalpha.com, which really gives you a good exposure to how an investment recommendation is crafted. If you have not already done so, you should start working towards the CFA charter since they are highly-respected in the ER field and will certainly be a huge boost in your candidacy.

Lastly, networking is key so try reaching out to as many professionals on Linkedin, websites etc.

Unregistered 30-07-2019 09:13 PM

Quote:

Originally Posted by Unregistered (Post 122125)
How does the pay in PE compare to IB? Is IB entry level pay rly 10k+pm?

I've seen quite a big range for both. BB banks and large cap PE are comparable for junior roles (analyst to associate). For mid-market or bigger boutique firms, PE attracts better talent and hence has to pay more. For smaller firms (<15 headcount), it can be anything really.

And yes, for IB at decent firms, analyst base salary is in 5 figs per month.

Unregistered 30-07-2019 10:16 PM

Quote:

Originally Posted by Unregistered (Post 122190)
Thanks for starting this thread OP. i am in my early 30s and am a corp tax manager in a big 4 in the tax advisory space (done some tax due diligence etc) and am interested in moving out of tax and into high finance. What are my best options in consideration of my experience?

Appreciate the help!

time is running out

your best bet is to enroll in a M7 MBA program and summer as an associate

Unregistered 31-07-2019 11:55 PM

Quote:

Originally Posted by Unregistered (Post 122282)
time is running out

your best bet is to enroll in a M7 MBA program and summer as an associate

Not sure if an M7 MBA is optimal for OP at this point, given the cost and time commitment required.

These programs usually takes at least a year to complete (at least 2 years from now since recruitment for the upcoming intake is over) and are really expensive (>USD100K), not to mention that entry are insanely competitive (flooded with MBB Consultants, BB IB Analysts, F50 MAs etc). To be considered one would need to possess nothing less than an exceptional professional background and a high GMAT/GRE score, which will likely require a significant amount of time to study for as well.

An MBA isn't really useful for ER/HF and would be more appropriate for IB/PE. An MFin at a local university like SMU seems a viable option though, given its lower entry requirements and significantly lower fees (~SGD40K). However, you would have to prepare for the GMAT/GRE still and the course duration is also similar (1-2 years).

Networking and persistence are really key here. I would suggest looking at boutique funds and contacting the relevant personnel (more senior staff like managers/senior analysts), asking them if they are willing to meet up for coffee chats or informal interviews. Of course, you need to be very well-prepared for any questions and demonstrate interest (CFA, technical knowledge) for them to consider you as a potential hire.

Just my 2 cents.

Unregistered 02-08-2019 11:06 PM

Equity funds
 
Hi, which will you consider as good equity funds in Singapore? Both long only and hedge funds in terms of returns/career progression /culture/pay as a junior?

Unregistered 02-08-2019 11:20 PM

Quote:

Originally Posted by Unregistered (Post 122322)
Not sure if an M7 MBA is optimal for OP at this point, given the cost and time commitment required.

These programs usually takes at least a year to complete (at least 2 years from now since recruitment for the upcoming intake is over) and are really expensive (>USD100K), not to mention that entry are insanely competitive (flooded with MBB Consultants, BB IB Analysts, F50 MAs etc). To be considered one would need to possess nothing less than an exceptional professional background and a high GMAT/GRE score, which will likely require a significant amount of time to study for as well.

An MBA isn't really useful for ER/HF and would be more appropriate for IB/PE. An MFin at a local university like SMU seems a viable option though, given its lower entry requirements and significantly lower fees (~SGD40K). However, you would have to prepare for the GMAT/GRE still and the course duration is also similar (1-2 years).

Networking and persistence are really key here. I would suggest looking at boutique funds and contacting the relevant personnel (more senior staff like managers/senior analysts), asking them if they are willing to meet up for coffee chats or informal interviews. Of course, you need to be very well-prepared for any questions and demonstrate interest (CFA, technical knowledge) for them to consider you as a potential hire.

Just my 2 cents.

Am not the OP, graduated 3 years ago with a local uni biz degree
Worked as an accountant during this time

Am looking to breaking into finance, have been taking the CFA exams

Any advice for me

Unregistered 03-08-2019 03:57 AM

Quote:

Originally Posted by Unregistered (Post 122184)
IB can range from 6 to 10k entry. ~70 hour work weeks expected tho, 14 hours daily

14 hours a day? wah damn shiok. my friends at CS half the analyst still online at 2-3am most days

Unregistered 03-08-2019 03:58 AM

Quote:

Originally Posted by Unregistered (Post 122365)
Hi, which will you consider as good equity funds in Singapore? Both long only and hedge funds in terms of returns/career progression /culture/pay as a junior?

point72 lor. starting grad pay 16k

Unregistered 03-08-2019 04:00 AM

For OP, if I'm in a top-tier BB in Singapore IBD ranking (so JPM/MS/CS), what kind of shops should I be looking to recruit on buy side apart from BX/KKR etc?

Will GIC be a good exit? Heard the pay is roughly the same but better hours

Unregistered 03-08-2019 12:56 PM

Quote:

Originally Posted by Unregistered (Post 122367)
Am not the OP, graduated 3 years ago with a local uni biz degree
Worked as an accountant during this time

Am looking to breaking into finance, have been taking the CFA exams

Any advice for me

Which part of finance do you intend to break into? You can refer to the post by the OP of the thread if you are unsure.

Also, what sort of firm are you working in right now? Like in Big 4 or MNCs or local SMEs etc?


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