Working in a bank

[ericgohjunhui]

I have seen many different types of analyst job in different websites but which type of analyst is related to investment/trading? Thanks

Hi, I'm not sure if this is the correct place to ask, but since this topic is about banks, I shall just try my luck.

1) I'm not aiming to be a trader at IB. I hope to be an analyst. So what's the difference between an analyst and a trader beside salary?

2) Well I am a local uni undergrad. To my knowledge, IBs usually take employ the cream of the crop from high Tier universities. Is it the same case for analyst?

3) Is analyst considered front office or middle office role?

4) I am going to graduate at 26yo cause I went poly. Is 26yo consider late for a fresh grad, considering most of my JC peers graduate at 25yo?

Thanks fellow peeps! Your help is appreciated.

Sorry threadstarter i hijack your thread.

I am in my 40s working in semiconductor industry. As we know the semicon/electronics industry is facing sunset in Singapore. My friend said he once took a cab and the taxi driver used to be a Sales Director in a semicon company. He was retrenched and could not find a job so he became a taxi driver.

I am thinking to join the banking industry for job secutiry with reasonable pay to feed my family and maintain my current lifestyle (everybody is saying Singapore is becoming a financial hub).

Does anybody have similar experience? Does having a MBA help for such career switch? What is the type of banking role, if any, suitable for a career start in banking? Financial planner?

thanks in advance.

Wa lao. Read the prev posts!!

Just my 3 cents worth:

When you say you hope/want to join banking, the least you can do is to do some research before making that decision. From what I see here, many just want to join because of the pay and the so called prestige that IBs/BBs offer, when clearly many don't have the necessary qualifications or even the capability to achieve a role in the financial sector.

IMO, view analyst as a rank rather than a role. Analyst will prolly be the lowest level of the chain in banks. Almost every single dept in IBs will have an analyst role. i.e. IT analyst, finance analyst, ops blah blah blah.

If you really want to view analyst as a role, it most prolly has to do with research, securities, EQ or investment. Job scope depends on whether you're on the buy side or sell side. Mostly it involves going through financial data and writing reports.

When looking for opportunities in such places, don't just look at FO. Remember the fact that FO ONLY looks for the best out of the best, either that or you have some rich father that gives you connection to the "elites". MO and BO has plenty of opportunities as well. Take a good look in the mirror and make a honest assessment of yourself before saying you got what it takes to make it to FO.

As for career change, it's gonna be very hard. The easiest way would be become a financial planner. Taking modules from MAS like M5, M9 would help. But be prepared to be in the low ranks like doing sales of financial products. Don't look down on these people, they actually do earn quite a far bit. I know of some friends that sell products OTC to aunties in banks earning close to 8k per mth for a quarter.

In conclusion, please do make an effort to use your brains, make an effort to assess whether you are really capable enough to make it to IBs/BBs. I'm not saying that it's not impossible, but fact is that those capable ones are not here asking such questions anymore, they're out there doing it already.

All the best.

Originally Posted by Undergrad

Hi, I'm not sure if this is the correct place to ask, but since this topic is about banks, I shall just try my luck.

1) I'm not aiming to be a trader at IB. I hope to be an analyst. So what's the difference between an analyst and a trader beside salary?

2) Well I am a local uni undergrad. To my knowledge, IBs usually take employ the cream of the crop from high Tier universities. Is it the same case for analyst?

3) Is analyst considered front office or middle office role?

4) I am going to graduate at 26yo cause I went poly. Is 26yo consider late for a fresh grad, considering most of my JC peers graduate at 25yo?

Thanks fellow peeps! Your help is appreciated.

1) traders trade, analyst analyse and get anal-yse. traders a few, analysts a plenty.

2) what uni? SMU, NTU, NUS? if not, be prepared to get heavily discounted out. recruitment sites at IBs will state second uppers and above for graduate roles. there's a reason for that and the reason is that the system will basically filter out those below 2nd uppers. sad but true. unless you have keywords in your resume to get pick up by the system. don't need ask what the keywords are, mostly role specific.

3) EVERYWHERE.

4) No.

Originally Posted by Anon

Take a good look in the mirror and make a honest assessment of yourself before saying you got what it takes to make it to FO.

That's one of the best pieces of advice meted out in this forum.

It seems like investment banking has become the career of last resort for almost everyone in this forum who has no better idea of what to do with their lives. And everyone is trying to run down everyone else as to why everyone else is not suitable to become an investment banker besides themselves, ironically for a profession which has no entry requirement other than to "look beautiful" or "have a rich father" or "an Ivy League degree".

The world is much bigger than investment banking. If you are an engineer, why not take a step back and ask why you can't reach the income of ST Engineering CEO ($6.2 million p.a.) or his deputy ($4.2 million p.a.), both engineers by training. If you are a taxi driver, what makes you so different from the CEO of Comfort Delgro, who earned $1.8 million p.a., since some taxi drivers were sales directors and even have PhDs?

Originally Posted by Unregistered

1) traders trade, analyst analyse and get anal-yse. traders a few, analysts a plenty.

2) what uni? SMU, NTU, NUS? if not, be prepared to get heavily discounted out. recruitment sites at IBs will state second uppers and above for graduate roles. there's a reason for that and the reason is that the system will basically filter out those below 2nd uppers. sad but true. unless you have keywords in your resume to get pick up by the system. don't need ask what the keywords are, mostly role specific.

3) EVERYWHERE.

4) No.

Thanks! I will be heading to SMU. Sorry if I am not clear, but I am looking more forward to finance/equitity analyst.

Originally Posted by Undergrad

Thanks! I will be heading to SMU. Sorry if I am not clear, but I am looking more forward to finance/equitity analyst.

typo. I meant financial* analyst.

Is there a difference between financial analyst and trader? Cause trader also have to analyze before selling/buying?

Originally Posted by Anon

Just my 3 cents worth:

IMO, view analyst as a rank rather than a role. Analyst will prolly be the lowest level of the chain in banks. Almost every single dept in IBs will have an analyst role. i.e. IT analyst, finance analyst, ops blah blah blah.

All the best.

Actually, it really depends on companies - there are some research analysts, business analysts which are actually quite 'high ranking' and 'highly paid'.

I do feel that the whole banking industry is getting sucked into this corporate title inflation trend. I don't know if labelling a team lead as VP is appropriate, and if it achieves anything at all other than boasting the ego of some individuals.

cheers