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Debt markets and M&A activity in SEA hasn't been strong since.......forever. Recent pullback and cuts are due mainly to drop in equity underwriting and not debt or M&A activity since there isn't a ton of debt or M&A activity in the SEA region anyway due to its infancy. |
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It is somewhat true that Singapore (or Asian companies in general) firms are not as open to M&A as compared to their American or European counterparts. Alot of it is due to culture differences and what not. You must remember that a much higher percentage of businesses in Asia are family businesses and therefore, family controlled. Convincing an Asian family clientele to sell 51% equity in their family business? I would much rather fancy my chances at getting into Harvard law. Also, more specific to MacQ, I think part of the reason why they're cutting back is also because they might be realizing that the investment banking business (IBD, S&T etc) is a very scalable business. i.e. clients realize that big players can offer more and at better value. Much respect to MacQ for toughing it out but 9/10 times the business flow goes to the big players in SEA (the BBs like GS, JPM, CS, MS etc and perhaps the big local banks like OCBC and DBS). I think people are getting too caught up over a few isolated cuts in the business. These cuts and pullbacks happen all the time. It doesn't mean business is dying. |
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Read thread starter definition: not referring to top FO, normal FO. Didn't say I was in BB, just a normal commercial bank. So is my sum reasonable? |
Not sure about Singapore, but I'm a first year analyst at a BB in London, getting £50,000 as base and bonus depends really on your performance, we don't go by months, but rather as a percentage of your p&l. My desk does fixed income quant strategies, bonus can be pretty substantial, more than your base at times, but the EU is introducing a bonus cap and a 50% tax on bonuses above £25,000. So in the end, we probably end up earning lesser take home pay Anyone has any advice if Singapore has any well known quant shops to move to? I know jump trading and Hudson River have a presence here.
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The person who posted the bit about JPM not paying their interns 10k doesn't have a clue. I know of several friends who interned at JPM, and they are paid 10k in FO roles. No joke, I saw the pay slip/amt that HR sent them.
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For multi-millionaires MDs, they go to China club in floor 52, yummy dim sum... Later we head off to fitness first in floor 9 to burn off the excess calories, before going to red dot building next door to pick up babes... haha your 10k/mth paycheck fantasy |
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