請問Investment Bank的工作內容與待遇

[jamesgenie]

不知道有沒有可以分享星港台wealth management/private banking的狀況呢？謝謝！

[polarbear]

不知道有沒有可以分享星港台wealth management/private banking的狀況呢？謝謝！

TW:
就我了解似乎只有UBS & Citi有在做on-shore的business,其他像是GS, MS, JPMorgan, Barclays等比較大家的,因為不想受到太多規範,所以都只以off-shore為主,也就是在台灣無private banking的office,這些private bankers都是在港台兩地飛來飛去.至於機會,我知道的都是有local & global hire. Package不一樣,而local hire比較多是在金融界或是產業做過一段時間,尤其是Citi,他們的人常常被挖去別家. Global hire也是以香港為主統一招人,看個人興趣或是背景分派不同的國家去cover. So, Taiwanese may be assigned to TW.

HK & Singapore:
大概就是Asia-ex Japan兩大private banking的總部所在地,也都有global hire的. 通常都是直接到美國做Campus recruiting,面試時端看哪個office需要人,有可能香港新加坡都一起來面試你,甚至管台灣的主管也會來.我所知的資訊蠻雜的,無一定的模式.

而private banking就很有可能需要雄厚的家世背景,畢竟這是個人的business,不像公司的business.公司即使老闆的小孩還是親戚來推銷IPO, CB, M&A,還是要董事會通過,股東不反彈,顧及社會觀感,所以其實IBD裡的人background硬對senior banker只是略為加分而非決定因素. 然而private banking管的是個人的錢,所以關係很重要,這些有錢人要的是可以信得過的人,而家世背景雄厚的人,當然這方面資源就多,也較容易建立關係. that's my viewpoints.

各銀行的strategy也不同:
GS, JPMorgan是採高門檻,客戶基本上要在該行開戶至少要US10M and US5M, repsectively. 這是採高資產價值高服務品質的策略
UBS & Citi就比較寬鬆, I know UBS 的好像US50K就可以開私人銀行戶.採取的是廣納客源,有利就圖.當然UBS是全世界最大的私人財富管理公司,資源雄厚,所以有這樣擴張的本錢.

[vc1209]

Two questions:

1. For IB jobs in HK for people from Taiwan, what language is used on a daily basis at work (especially orally)?

2. Is it expected to learn Cantonese over the long-run or Mandarin only is enough?

[polarbear]

Two questions:

1. For IB jobs in HK for people from Taiwan, what language is used on a daily basis at work (especially orally)?

2. Is it expected to learn Cantonese over the long-run or Mandarin only is enough?

1. English & Mandarin. Internally, many bankers, either junior or senior, are still from around the world and couldn't speak Mandarin. So, you need to communicate with English. For clients, if you are involved in China or TW deals, most of the time you speak Mandarin. But for deals in other countries, such as India, you will use English all the time.

2. Unless you are staffed with Hong Kong team, you won't have to speak Cantonese at all. And most of the time, Hong Kong team or HK deals will be staffed by Cantonese speakers. Of course, in the long-run, it will be great to learn as many languages as you can. But it is not expected since most of the senior bankers still can not speak Mandarin even though they are handling Greater China market.

English is "the" most important since you still have to use it everyday even though you are in HK office.

[vc1209]

非常謝謝!

[vc1209]

再請教一個笨問題:

既然 IB 聽起來這麼難進, 為什麼 Top 15 每年還是有 1/3 (or higher) 進得了 IB 呢?

[MarkHsu]

--I don't believe it's 1/3 at all top 15
--it's more like 1/3 at wharton, columbia, chicago, nyu
--also, not all investment banking jobs are doing investment banking
--there are more opportunities in private wealth, s&t
--also, NYC & London are the world's #1 and #2 financial markets, but for most Taiwanese, they can only work (by this, I mean their skill set) in Asia

[polarbear]

再請教一個笨問題:

既然 IB 聽起來這麼難進, 為什麼 Top 15 每年還是有 1/3 (or higher) 進得了 IB 呢?

I am not sure where you get this figure so I won't be able to comment on it.

You need to clarify the "IB" you used. Is it for IBD only? or it includes IBD, S&T, Equity Research, PWM, PE within IB?

For IBD, I would say it is really hard to get in. Some statistics I know for 2007 summer class in HK.

IBD summer associates
GS(13), MS(19), JPMorgan(6), ML(9), Deutsche Bank(6, not sure), UBS(3), Credit Suisse(3), Lehman(6), Citi (around 3 I guess). So the total summer class is around 70 people (actually, you could see that GS and MS hire a lot in 2007 summer, which sort of expand the usual summer class size)

How many people in Top 15 MBA want to find an IBD job? Assume 25 students per school (of course, Wharton, Chicago, NYU, Columbia, etc. will have more students. From my observation, not only Chinese and Taiwanese, but also Koreans or Indians want to work in HK), that would be around 375 from Top 15 MBA. You can calculate the rate.

And of course, there are not only Top 15 MBA over there; there are also LBS, INSEAD, and other schools. I know one of the banks got around 2,000 applications in 2007. I would say it is even harder than attending a Top 15 MBA program.

[agk99]

不知道有沒有可以分享星港台wealth management/private banking的狀況呢？謝謝！

我曾經和一位美林新加坡的PB sales聊過
此人普普通通，實在令人好奇如何進得去美林
我問他加入美林PB的條件是什麼
他告訴我
只要能立刻帶進手上有三千萬美金資產的客戶
而且可以立即下單買美林的產品
他也可以介紹我進美林

以上訊息供你參考

[Savana]

我同意
我認識幾個大行的private bankers
都非top15 MBAs畢業的
如果手上有"大客戶"
基本上進去沒有什麼問題

不知道有沒有可以分享星港台wealth management/private banking的狀況呢？謝謝！

我曾經和一位美林新加坡的PB sales聊過
此人普普通通，實在令人好奇如何進得去美林
我問他加入美林PB的條件是什麼
他告訴我
只要能立刻帶進手上有三千萬美金資產的客戶
而且可以立即下單買美林的產品
他也可以介紹我進美林

以上訊息供你參考

[Savana]

http://www.michaelpage.com.hk/pdf/HKFINSER_ss_web.pdf

這是香港Michael Page做的調查
或可作為IB薪水的參考
因為只調查base salary
裡面的數字沒有一般聽起來這麼多
畢竟IB的bonus才是真正"決生死"之處
base salary的50%-1000%作為bonus
我週遭都有人領過

如果是歐美的bankers
薪水範圍則又完全不一樣

[KKWOMAN]

感覺IB好難進，大學生成績不好如果GMAT考高去念MBA還有機會嗎？

[agk99]

感覺IB好難進，大學生成績不好如果GMAT考高去念MBA還有機會嗎？

離現在越近的指標越悠關
當然離越遠的就越無所謂了
大學成績差
連一個好的MBA
還是可以補救的

但坦白說
這些都不是絕對進不進IB的關鍵

[aliceberry20[origen]]

不知道能不能請各位談一下日本IB的情形?

聽說日本IB很封閉 只錄取日本人
這麼大一塊餅 如果以在top15的日本人MBA的人數去看的話 會比僧多粥少的大中華區來得還競爭嗎?
假設一個會說英中日語的人 想在亞洲區發展 哪裡最有希望進去 又哪裡的前景最好呢?

我小小的想法 :
日本僧少粥多 最容易進去
但中國經濟起飛 未來必定會成立至少一個位於中國的金融中心 最好先在香港工作 方便日後去大陸卡位 各位以為呢?)

[polarbear]

不知道能不能請各位談一下日本IB的情形?

聽說日本IB很封閉 只錄取日本人
這麼大一塊餅 如果以在top15的日本人MBA的人數去看的話 會比僧多粥少的大中華區來得還競爭嗎?
假設一個會說英中日語的人 想在亞洲區發展 哪裡最有希望進去 又哪裡的前景最好呢?

我小小的想法 :
日本僧少粥多 最容易進去
但中國經濟起飛 未來必定會成立至少一個位於中國的金融中心 最好先在香港工作 方便日後去大陸卡位 各位以為呢?)

看你要去的部門.
IBD:不會說日文不可能進去, 你的客戶都是日本人, 不說日文根本不可能做deal.
S&T: 機會較多, 畢竟你可以只面對歐美的buy-side客戶, so, 會講英文即可.
Private banking: 不會日文不可能, 一樣, 客戶都是local日本人.
策略部門: 會英文即可, 以前有台大財金系學姐HBS畢業後到日本高盛的策略部門做過.

簡言之, 日本粥也許多, 但不會日文, 不了解日本文化, 沒有locacl connections, 也只會看得到吃不到.

中文的native speaker, 還是以到香港發展較有優勢.