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25-03-2011, 08:23 AM
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Quote:
Originally Posted by ericgohjunhui
So is it advisable for me to leave the force in aug to look for the relevant job that provide the right experience while doing my part time degree at the same time?
Anyway what does MM stands for?
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Clearly this guy knows nothing about finance and is only in it for the money, despite his protestations.
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25-03-2011, 08:29 AM
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Eric, I was like you but had a much better resume than you do. I was the top maths student in a top JC, graduated among top 5 from an ivy league, have IQ assessed by Mensa to be above 150, but still didn't get into IB FO (I'm not talking about local banks or even foreign consumer banks). not even an interview. My good friends in FO said they couldn't help me cos they were not senior enough yet (or maybe they were just being polite). I suspect the main reason is because I started my career and wasted some years in a different industry like yourself (yours is worse).
I think it's easier for you to get rich and have self actualization (whatever that means) if you start a business. I'm doing that now.
Like someone above, I'm gonna be blunt: Just give up lah! Don't waste time. Do something useful that has a greater rate of success. Or stay in your job.
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25-03-2011, 08:34 AM
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Quote:
Originally Posted by Unregistered
Eric, I was like you but had a much better resume than you do. I was the top maths student in a top JC, graduated among top 5 from an ivy league, have IQ assessed by Mensa to be above 150, but still didn't get into IB FO (I'm not talking about local banks or even foreign consumer banks). not even an interview. My good friends in FO said they couldn't help me cos they were not senior enough yet (or maybe they were just being polite). I suspect the main reason is because I started my career and wasted some years in a different industry like yourself (yours is worse).
I think it's easier for you to get rich and have self actualization (whatever that means) if you start a business. I'm doing that now.
Like someone above, I'm gonna be blunt: Just give up lah! Don't waste time. Do something useful that has a greater rate of success. Or stay in your job.
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How hard is it for a mid-career switcher to break into IB, assuming that he graduated from a top Ivy (undergrad) and spent 5 years working in something irrelevant? Is a top MBA needed?
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25-03-2011, 10:19 AM
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Quote:
Originally Posted by Unregistered
How hard is it for a mid-career switcher to break into IB, assuming that he graduated from a top Ivy (undergrad) and spent 5 years working in something irrelevant? Is a top MBA needed?
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Go read through this entire thread. Lots of good insights and advice, but if you can't tell good from bad, good luck!
I like the posts with these timestamps:
03-03-2011, 04:55 PM
03-03-2011, 11:41 PM
I am not him, btw.
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25-03-2011, 12:02 PM
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Verified Member
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Join Date: Feb 2011
Posts: 22
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Quote:
Originally Posted by Unregistered
Dear Eric,
How long have you been with the RSAF? Before you quit your job with the RSAF, have you given careful thought to why are you quitting? Are the reasons due to pay (low?), or working hours (high?), or lack of respect (rank, esp when talking to senior officers?) etc etc etc?
If the reasons are a combination of the above, then my advice is not to quit your job. In ib, especially with a boutique, you start out with super low pay, approx 50% of what your peers get in BBs, you work like a dog during the day and when your wife/kids are sleeping, and you have no pride when your MD barks at you to fetch coffee from the nearest starbucks every morning.
the only valid reason for you to quit the RSAF is that you have 0 future staying with them. Exciting promotion opportunities are only provided to scholar-officers and all others are mere stepping stones for them to command and control. In contrast, successfully landing a job in ib and eventually PE/HF would almost guarantee you a 6-figure annual salary before you hit 40. Hell, even way before that for those that start early.
Now the only question is how HUNGRY are you to get a job in IB? Are you desperate enough to quit your job, desperate enough to study hard in school and desperate enough to venture out of your syllabus and learn the relevant skills (see above post)? The decision is yours to make, not anyone's.
Yes? you think its easy?
Talk only and no action would only get you as far as the nearest bus stop instead of the CBD. There is a reason why a career in FO is so lucrative. They recruit from the best by the best. If you dont start out among the best, work/study your ass off to get to the best.
P.S. judging by your level of knowledge you wont even survive the initial resume/CV screening, not to mention the subsequent interviews, aptitude tests and assessment centres. If i were you, I would think twice before quitting the RSAF. Its possible that you end up working/studying your ass off and still NOT land a FO role.
The best bet for you now is to graduate with a good honours and apply to a masters program(NOT MBA, you cant get in) in a target school in the UK/US. I know some BBs recruit from schools like warwick, lse and maybe nottingham/manchester. NYU would be a good bet too.
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Thanks sir for the advice. You were right because I see no future of myself in the RSAF and initially I signed on was due to funding of my degree. I'm in the force for 5 years and I'm 26. I wanted to leave the force because I understand the need fir experience in related fields. Like what u said, I might not even land myself in an interview. Further studying might not be possible now as I'm lack of funds, I really want to work my way to the IB. What type of experience you would reccomand me to to have after leaving the rsaf and how can I get there? Thanks
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25-03-2011, 12:38 PM
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Quote:
Originally Posted by Unregistered
Go read through this entire thread. Lots of good insights and advice, but if you can't tell good from bad, good luck!
I like the posts with these timestamps:
03-03-2011, 04:55 PM
03-03-2011, 11:41 PM
I am not him, btw.
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thanks dude I read those. alright, I do currently have an offer in a top MBA program in the U.S. (almost always in the top 5). I'm wondering whether it's worth the small fortune I'm about to drop on the tuition. If I've worked for the past 5 years in the public sector in organizations not directly related to finance or business, would my MBA help me break into IB?
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25-03-2011, 12:59 PM
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Quote:
Originally Posted by Unregistered
thanks dude I read those. alright, I do currently have an offer in a top MBA program in the U.S. (almost always in the top 5). I'm wondering whether it's worth the small fortune I'm about to drop on the tuition. If I've worked for the past 5 years in the public sector in organizations not directly related to finance or business, would my MBA help me break into IB?
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Your MBA will help, but job market in US is bad. Unlike Singapore, they tend to hire their kind first. Call it patriotism.
I know of a few top MBAs who have to make do with relatively junior and relatively lower paid positions in non-IB banks back in Asia.
Bottom line: you can try, but no guarantee. If I were you, I wouldn't.
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25-03-2011, 01:08 PM
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Quote:
Originally Posted by Unregistered
Your MBA will help, but job market in US is bad. Unlike Singapore, they tend to hire their kind first. Call it patriotism.
I know of a few top MBAs who have to make do with relatively junior and relatively lower paid positions in non-IB banks back in Asia.
Bottom line: you can try, but no guarantee. If I were you, I wouldn't.
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lol, talk about a rock and a hard place. In the US they hire their own kind, and in Singapore they don't. Anyway, I'm open to working anywhere at least for a few years. I'm also open to working in research roles because my previous roles were analytically heavy - especially equity research which really appeals to my nerdy side. Hopefully that won't be as difficult as actual IBD?
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25-03-2011, 01:10 PM
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Quote:
Originally Posted by Unregistered
lol, talk about a rock and a hard place. In the US they hire their own kind, and in Singapore they don't. Anyway, I'm open to working anywhere at least for a few years. I'm also open to working in research roles because my previous roles were analytically heavy - especially equity research which really appeals to my nerdy side. Hopefully that won't be as difficult as actual IBD?
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As I said earlier, BO/MO will never lead you to FO roles. Better for you to apply to a boutique then hope for lateral transfer.
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