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Seeking Advice For Jobs In Finance Sector

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  #21 (permalink)  
Old 21-02-2012, 09:53 AM
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pls stop giving him false hope.

at his age and background, at most he will just end up in ops in a bank. I wld rather him be a civil servant than join ops in a bank.

if he wants to go where the money is at front office, he needs a branded masters or MBA to switch in (not local uni pls). But nowadays even with that, it is hard to break in. My fren at BB FO receives tons of resumes everyday from ppl cold emailing him. These ppl have branded Masters or have relevant work experience and even these ppl are not getting interviews, what more an engineer who just wants a career switch.

short of getting a masters, i think he has a higher chance of getting rich by being a property agent or financial planner than entering a bank's front office.

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  #22 (permalink)  
Old 21-02-2012, 10:18 AM
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Originally Posted by Unregistered View Post
pls stop giving him false hope.

at his age and background, at most he will just end up in ops in a bank. I wld rather him be a civil servant than join ops in a bank.

if he wants to go where the money is at front office, he needs a branded masters or MBA to switch in (not local uni pls). But nowadays even with that, it is hard to break in. My fren at BB FO receives tons of resumes everyday from ppl cold emailing him. These ppl have branded Masters or have relevant work experience and even these ppl are not getting interviews, what more an engineer who just wants a career switch.

short of getting a masters, i think he has a higher chance of getting rich by being a property agent or financial planner than entering a bank's front office.
Well the hope these people subscribe to is that as long as they can get some overworked underpaid crap work in a bank, it is at least a step in and they just need to perform and play politics to worm their way to the lucrative front office after that.

Just like anywhere, 95% of them wonít make it to FO. But then everyone likes to think they are the 5%, donít they? They are adults and can & should make their own informed decision.

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  #23 (permalink)  
Old 21-02-2012, 05:18 PM
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Originally Posted by Unregistered View Post
pls stop giving him false hope.

at his age and background, at most he will just end up in ops in a bank. I wld rather him be a civil servant than join ops in a bank.

if he wants to go where the money is at front office, he needs a branded masters or MBA to switch in (not local uni pls). But nowadays even with that, it is hard to break in. My fren at BB FO receives tons of resumes everyday from ppl cold emailing him. These ppl have branded Masters or have relevant work experience and even these ppl are not getting interviews, what more an engineer who just wants a career switch.

short of getting a masters, i think he has a higher chance of getting rich by being a property agent or financial planner than entering a bank's front office.
ops in a bank is better than civil service.

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  #24 (permalink)  
Old 23-02-2012, 12:53 AM
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why everyone keep on saying finance is a tough industry to get in, and then immediately cites front office investment banker job?

got a lot of other areas mah
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  #25 (permalink)  
Old 23-02-2012, 10:11 AM
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why everyone keep on saying finance is a tough industry to get in, and then immediately cites front office investment banker job?

got a lot of other areas mah
risk management is an area that's quite under the radar.
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  #26 (permalink)  
Old 26-02-2012, 12:51 PM
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risk management is an area that's quite under the radar.
how to get into risk management job? i dont see such job ads in straits times, only the usual civil service, engineering roles.....
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  #27 (permalink)  
Old 26-02-2012, 02:43 PM
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how to get into risk management job? i dont see such job ads in straits times, only the usual civil service, engineering roles.....
Usually you don't call them, they'll call you, as cliched as it may sound. You can start by getting a relevant degree and start with risk ops jobs.
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  #28 (permalink)  
Old 26-02-2012, 02:49 PM
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Real risk management job (not the admin, check for compliance kind) requires serious financial modelling skills in a bank, it is not a job that people who dun really know Finance can just talk c0ck and smoke his way out.
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  #29 (permalink)  
Old 26-02-2012, 03:55 PM
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Real risk management job (not the admin, check for compliance kind) requires serious financial modelling skills in a bank, it is not a job that people who dun really know Finance can just talk c0ck and smoke his way out.
Glad to hear that, my background is R&D digital signal processing with masters from NUS-MIT alliance. I just finish reading the Stochastic Calculus for Finance book by Steven E. Shreve, a bit like quantum mechanics of mathematics which I studied for physics. I find it pretty easy for me - with my DSP knowledge, I can easily use fast-fourier transform to solve some excerise in the book.
My friend, a trader, is trying to arrange a job in a bank for me, but it is put on hold as there is no headcount. Not sure what the job entails but something to price and risk manage some counterparty otc contracts, but my friend jokingly says if I can smoke and talk cock very well e.g. prove that black-scholes equation wrong, I will get the job immediately.
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  #30 (permalink)  
Old 26-02-2012, 04:00 PM
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...but my friend jokingly says if I can smoke and talk cock very well e.g. prove that black-scholes equation wrong, I will get the job immediately.
All jobs require smoking. BS theory, though a major breakthrough during its days, is generally _always_ wrong. Some parameters require plucking from air.
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