Fall of the Investment Banking Giants - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Fall of the Investment Banking Giants

Reply
 
Thread Tools
  #1 (permalink)  
Old 15-09-2008, 06:51 PM
Salary.sg
Guest
 
Posts: n/a
Default Fall of the Investment Banking Giants

Just months ago, Bear Stearns, Lehman Brothers and Merrill Lynch were considered to be among the top 5 investment banks. They were the so-called bulge bracket firms - the premiere league players, the Ferraris, the LVs...

They are now all gone.

Bear was acquired by JP Morgan Chase for just US$10 a share in May 2008.

Merrill Lynch has just been acquired by Bank of American for a more reasonable US$29 a share, while the poor Lehman Brothers could not find a suitable buyer and had to file for bankruptcy - rendering its shares worthless overnight.

Many employees may be retrenched soon.

With Citigroup shaky, this recent turn of events leaves the world with just 2 ibanking giants - Morgan Stanley and Goldman Sachs.

If you're an ibanker, consider yourself lucky if you work for MS or GS. Hold on dearly to your jobs.

For those who will be displaced, take care. Hope you have enjoyed yourselves and saved up a bit while the good times lasted.

Maybe an investment banking career isn't that good after all. See my previous posts on ibanking:

- Smart students - choose investment banking
- Short career in I-banking
- Investment banker gives advice


http://www.salary.sg/2008/fall-of-th...anking-giants/

Reply With Quote
  #2 (permalink)  
Old 15-09-2008, 06:59 PM
5m10y--
Guest
 
Posts: n/a
Default 2678

Let's see how GS and MS are doing in their upcoming quarterly reports.

There are other smaller ones also that seems to be doing alright, e.g.: Barclays Capital. A friend of mine just got an offer from a private fund house to double his already-5-digit salary.

There's still hope out there if you have marketable skills and you network a lot.

Reply With Quote
  #3 (permalink)  
Old 15-09-2008, 10:29 PM
solarius--
Guest
 
Posts: n/a
Default 2682

Well I always believe in saving up during the good times..You really never know when it will end!

Reply With Quote
  #4 (permalink)  
Old 16-09-2008, 09:05 AM
solarius--
Guest
 
Posts: n/a
Default 2684

Wow time to watch the market crash and burn and then to pick up some bargains...I have been waiting since 911, not gonna miss this boat. Hurray!!!
Reply With Quote
  #5 (permalink)  
Old 16-09-2008, 09:34 AM
AL--
Guest
 
Posts: n/a
Default 2685

Well, maybe it's time for new IBs to come up. Investment banking will always come and go, cos people are innately greedy.
Reply With Quote
  #6 (permalink)  
Old 16-09-2008, 10:00 AM
Sol--
Guest
 
Posts: n/a
Default 2686

Market is crashing and burning..Was too young during 911 to do anything but my reserves are ready..I ain't gonna miss this boat. =)
Reply With Quote

  #7 (permalink)  
Old 16-09-2008, 10:08 AM
adiemuso--
Guest
 
Posts: n/a
Default 2688

this is jux the start of a crisis. a global contagion which is, at best will be short and sharp; at worst a long protracted depression.

noone will be spared. banks and financials are the first to be hit and adjust, followed by the other sectors and lastly common folks on the street.

im not very optimistic about the outlook for sg in the next 2-3 years. call me a pessimistic bear but history, facts and figures do not lie.


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #8 (permalink)  
Old 16-09-2008, 02:04 PM
5m10y--
Guest
 
Posts: n/a
Default 2690

Yet another reason to always strive to be a cut above one's peers. When the job market gets worse, only the best can survive. Networking and building and demonstrating expertise remain key.
Reply With Quote
  #9 (permalink)  
Old 16-09-2008, 08:59 PM
5m10y--
Guest
 
Posts: n/a
Default 2692

And.... Goldman Sachs's earning fell by 70%. Damn. http://www.cnbc.com/id/26733548
Reply With Quote
  #10 (permalink)  
Old 16-09-2008, 11:42 PM
Non-IB--
Guest
 
Posts: n/a
Default 2694

It's times like this that makes man on the street like you and I feel better. IBankers have been having it too good for too long. At least we are all equal now. To the IBankers who have been treating us peasants as peasants, driving their fast cars and snatching our girls.....every dog has its day! ha.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Wine Investment jacksiew Investments and Net Worth 6 18-05-2012 07:11 AM
Smart students - Choose investment banking Salary.sg Income and Jobs 8 28-06-2008 09:17 AM

» 30 Recent Threads
Starting Pay for CS/Ministries... ( 1 2 3... Last Page)
247 Replies, 111,142 Views
SMU graduates starting pay
1 Replies, 3,975 Views
Compare civil service salary ( 1 2 3... Last Page)
12,623 Replies, 7,362,794 Views
Wages are up in banking and IT: BT
1 Replies, 2,196 Views
Shld I give up looking for work? ( 1 2)
15 Replies, 4,252 Views
Process Engineer Salary
2 Replies, 5,089 Views
DBS tech seed programme ( 1 2 3... Last Page)
874 Replies, 225,935 Views
singapore scoll principals pay? ( 1 2)
11 Replies, 25,332 Views
Sacked during probation? ( 1 2)
14 Replies, 9,872 Views
How is life as a doctor in... ( 1 2 3... Last Page)
2,779 Replies, 1,417,373 Views
Engineer Pay ( 1 2 3... Last Page)
325 Replies, 139,549 Views
Lawyer Salary ( 1 2 3... Last Page)
13,755 Replies, 4,633,544 Views
High Finance Thread ( 1 2 3... Last Page)
301 Replies, 102,452 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,085 Replies, 2,531,718 Views
Career as Teacher ( 1 2 3... Last Page)
4,012 Replies, 2,509,695 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
2,714 Replies, 1,291,619 Views
How is HTX Associate Programme... ( 1 2 3)
25 Replies, 7,183 Views
SEA (Garena) ( 1 2 3... Last Page)
47 Replies, 32,086 Views
GovTech Tech Associate Program... ( 1 2 3... Last Page)
65 Replies, 36,297 Views
Citibank Singapore ( 1 2 3... Last Page)
140 Replies, 101,069 Views
Pacific Century CyberWorks (PCCW)
2 Replies, 94 Views
Civil/Public Sector -... ( 1 2 3... Last Page)
412 Replies, 268,622 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,095 Replies, 1,315,641 Views
UOB Management Associate Program ( 1 2 3... Last Page)
456 Replies, 277,847 Views
ST Electronics ( 1 2 3... Last Page)
2,337 Replies, 577,205 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
483 Replies, 274,823 Views
If you can't find a company here... ( 1 2)
13 Replies, 1,623 Views
Nomura
0 Replies, 75 Views
Queries about Cpib application ( 1 2 3... Last Page)
1,271 Replies, 643,238 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 05:30 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2