Working in a bank

May I be very honest here? I just want the career path which gives me the best probability of returns vs effort. I recognise that job security is probably just as bad in both.

I did my internship in corporate finance so I know what is in stored. I have a degree in accountancy. I don't know much about the treasury position but my friend (junior) in there appears to be doing much shorter hours than me but complains about P&L stress which we don't get at corp fin at junior levels. Juniors in corp fin don't need to meet P&L target but we suffer from physical drain out instead.

Maybe the grass is greener on the other side but I prefer shorter hours versus the gruelling hours I had endured during my internship stint.

Again, corp fin appears to offer a higher base pay versus the treasury position. $2k difference (not including housing allowance). Will treasury compensate back in terms of total comp ? (i.e bonus). Thanks.

More inclined towards treasury for now.

Originally Posted by Unregistered

That you might receive from internet forums. Seems there are plenty of bad advice being dished out here but it was entertaining to see the kinds of questions being asked.
Do people actually know what Investment Banking is about? There are so many aspects of it and its actually more M&A. If you want to trade, the group you should look at is S&T. Its easier to get a sales job than a trading job. But if you're not good looking with impressive credentials, it is near impossible.

One of the early posters said its not about luck, well, that's not true. Alot of things in life are about luck. Being at the right place, at the right time and knowing how to seize the opportunity.

There are people on the forum who have made the switch from Engineering/something/whatever to finance-based roles (not necessarily, front office roles) but alot of that is attributable to luck. Its more common in the States where I'm currently working but in a tiny market like Singapore, its very very hard.

I'm not trying to discourage anyone: just know that Investment Banking is not all its made out to be. Behind the glamour (perpetuated by the people in the industry), there's alot of back-stabbing and you're not going to make that much money anyway, unless you're in those elite few banks. And those are few and far between now. The US banks are fearful of having to close down their prop trading operations because of the new regulations coming out of Washington. Hence, unlikely to be hiring there anytime soon. The European banks are all in a tizzy because of the on-going sovereign debt crisis. And really, the whole industry is all a house of cards. when one falls, so do the others....

I work in the capital markets now and make pretty decent money but with experienced eyes, i would probably take a job in any other industry that pays just as well but is not tainted with some of the most selfish, narcissistic human beings I've seen.

Seriously, all that matters after awhile, is having a stable job with a decent income, being fulfilled in that job and deriving deeper satisfaction from contributing to society.

I've chased the same dream and now that I'm living in some version of it, it's not all I expected it to be.
Maybe, its just a matter of getting older and finding that out.

To the poster before me, corporate finance is very different from a sales job with very different skill sets. It all depends on what you want to do 5 years from now. So what do you want to do?

Originally Posted by Unregistered

I just want the career path which gives me the best probability of returns vs effort. I recognise that job security is probably just as bad in both.

That seems to be a code word among freshies these days. In plain English it just means I want a job that is slack and pay well.

Originally Posted by Unregistered

That seems to be a code word among freshies these days. In plain English it just means I want a job that is slack and pay well.

who doesn't want that?

even when you hear things like "i want a job where i can learn and grow", it still means "i want a job where i can learn ... so that i can slack and get paid well in the near future".

only horses and buffalos work hard all their lives.

Originally Posted by Unregistered

who doesn't want that?

even when you hear things like "i want a job where i can learn and grow", it still means "i want a job where i can learn ... so that i can slack and get paid well in the near future".

only horses and buffalos work hard all their lives.

Sure everybody wants to slack and get paid well, but there aren't many jobs like this for everyone. Most jobs are either high pay work like cow, low pay slack and some worse jobs are low pay work like cow.

Having a goal of slacking and high pay right after school is just setting for failure and disappointment.

Originally Posted by Unregistered

5 yrs as corporate credit. 6.8k per mth. Not sure is on par, below or above avg.

Across the different jobs in a bank, are corporate credit analysts' salary in the average range? Is the barrier of entry high?

Originally Posted by Unregistered

Across the different jobs in a bank, are corporate credit analysts' salary in the average range? Is the barrier of entry high?

hi i dont have much idea about this.

but i will share with you my friend got in merrill lynch as analyst for a starting pay of 4,200

Originally Posted by Unregistered

hi i dont have much idea about this.

but i will share with you my friend got in merrill lynch as analyst for a starting pay of 4,200

4,200 as starting pay! I guess your friend has relavant working experience even though is analyst.

Originally Posted by Unregistered

4,200 as starting pay! I guess your friend has relavant working experience even though is analyst.

4200 is quite low for a foreign investment bank analyst even for fresh grad...

Hi I will be a fresh graduate from local university. Considering getting a job in the banking industry.

I have average results. Not targeting to be an investment banker. What is the average salary like after 6 years in banking industry with degree? Is 7K normal after 6 yrs?

Originally Posted by Unregistered

Hi I will be a fresh graduate from local university. Considering getting a job in the banking industry.

I have average results. Not targeting to be an investment banker. What is the average salary like after 6 years in banking industry with degree? Is 7K normal after 6 yrs?

Yes normal. Make sure you make friends and form alliances with the smarter people, stab the nasty ones and stab them hard.