Need serious career advice please - Banks/MNCs

[Water]

Hi all, I'm an undergraduate in one of the local universities and will really require help in my career path (Finance). May I ask of the following 3 career choices, which will you prefer, taking into consideration career progression, compensation, stability, future prospects, etc:

1) Foreign Banks' MA (e.g. Citi, HSBC; excluding bulge brackets)
2) Local Banks' MA (e.g. DBS, OCBC, UOB)
3) MNC Finance Leadership Programmes (e.g. GE FMP, J&J FLDP, Unilever UFLP, etc.)

As a student, I don't have much knowledge and experience about the realities of the working world. All the information that I have are from HRs, etc. I understand that these are all top programmes (and hard to get into), but given a choice, which would you advice an undergraduate today to get into?

Thank you so much.

Citi MA is pretty prestigious. Good brand name too. Dont bother local banks MA.

get a reality check?

Originally Posted by Water

As a student, I don't have much knowledge and experience about the realities of the working world. All the information that I have are from HRs, etc. I understand that these are all top programmes (and hard to get into), but given a choice, which would you advice an undergraduate today to get into?

Thank you so much.

advice that you adjust your expectations given that u admit u dont even know about what you want

[Water]

Thanks for all of your replies.

I understand the difficulty in getting into them. I've seen the statistics, and it's something like this:

Total number of related-degree undergraduates (acc,bus,econs,etc.) in SG: 4,000
Number of MA Positions per bank: 15 (after excluding Ivies) (approx 75 spots for all mentioned banks)
Number of Finance Leadership Positions per MNC: 4 (approx 10 active MNCs actively recruiting in SG = 40)

Competition is tough, but still, may I please seek for your advice for the career decisions?

personally, I'll go for MNC Finance Leadership Programmes (e.g. GE FMP, J&J FLDP, Unilever UFLP, etc.). the rate of burnout in banks is just incredible.

Originally Posted by Unregistered

personally, I'll go for MNC Finance Leadership Programmes (e.g. GE FMP, J&J FLDP, Unilever UFLP, etc.). the rate of burnout in banks is just incredible.

I'd second this, I'd personally rather go for an MNC Finance position as well. That is if I could get it in the first place. Though you shouldnt hold your breath unless you at least have a first-class or a very good connection.

[Water]

Thanks for all of your replies. Seeing the competition around me, I understand that it will really be an uphill battle getting into them. I appreciate all of your replies nevertheless.

Originally Posted by Water

Hi all, I'm an undergraduate in one of the local universities and will really require help in my career path (Finance). May I ask of the following 3 career choices, which will you prefer, taking into consideration career progression, compensation, stability, future prospects, etc:

1) Foreign Banks' MA (e.g. Citi, HSBC; excluding bulge brackets)
2) Local Banks' MA (e.g. DBS, OCBC, UOB)
3) MNC Finance Leadership Programmes (e.g. GE FMP, J&J FLDP, Unilever UFLP, etc.)

As a student, I don't have much knowledge and experience about the realities of the working world. All the information that I have are from HRs, etc. I understand that these are all top programmes (and hard to get into), but given a choice, which would you advice an undergraduate today to get into?

Thank you so much.

To be more precise, all 3 you have listed aren't really top programs per se. No doubt they are good and competition will be stiff, but top programs would be those from Goldman, Credit Suisse, BOA, the 3 MBB consultancies and oil & gas powers like Exxon, Shell etc

Local bank MAPs are much easier compared to #1 and #3, so I would recommend keeping them as a last resort. But #1, #2 are very different to #3 in terms of career track, so its also a matter of where your interest lies.

But to be realistic, unless you really are the cream of the crop (which is unlikely since you mention you are from a local university), it is better to apply all and keep your options open. The question is more of who wants you rather than who you want.

[Water]

Originally Posted by Unregistered

To be more precise, all 3 you have listed aren't really top programs per se. No doubt they are good and competition will be stiff, but top programs would be those from Goldman, Credit Suisse, BOA, the 3 MBB consultancies and oil & gas powers like Exxon, Shell etc

Local bank MAPs are much easier compared to #1 and #3, so I would recommend keeping them as a last resort. But #1, #2 are very different to #3 in terms of career track, so its also a matter of where your interest lies.

But to be realistic, unless you really are the cream of the crop (which is unlikely since you mention you are from a local university), it is better to apply all and keep your options open. The question is more of who wants you rather than who you want.

Thank you. Have to agree with what you mentioned, which applies for positions like Goldman/JPM IBD, etc. These are reserved for the really top candidates, which I would like to put aside so as to be realistic with my choices.

I'll apply for all, but I'm slightly apprehensive towards Banks' MA programmes for the following reasons:
1) Banks' MA programmes are typically 2-years rotational, which you may end up in departments that you may not like (e.g. Ops & Tech, etc.)
2) Even if you end up in the Front-Office roles (e.g. Corporate Banking, Private Banking, etc.), they are after-all sales related, with performance measured driven by your ability to sell and maintain relationships with clients. There is a tiny chance (~1%) of entering IBD, but I wouldn't count on it.
3) Politics
4) Volatility of the banking industry
5) Pay is good, but not extremely good (comparing with BBs). In fact, the pay may be comparable to MNCs' Leadership Programmes (?)

In comparison, MNCs' Leadership Programmes are more towards 'managing the company', instead of 'sales/relationship management roles'. --> More visualisable career progression/exit opportunities (?)

However, even with the above, it seems that Banks' MA programmes are like the 'in-thing'? Is there something really good about the MA programmes that I do not know? Thank you.