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Thread: What is Investment Banking?

  1. #41
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    Re: I-Banking after Engineering

    @ Neetu....thanks a lot for replying

    yea..i was looking for smaller I-banks as you mentioned.....how can I get to those guys?....linkedin doesn't even work on my pc...damnit! :evil: im handicapped!

    what do I do?

  2. #42
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    Re: I-Banking after Engineering

    Quote Originally Posted by time4apogee
    @ Sougata...thnx for the explanation.....

    Well, when I started this thread I began with a few generic questions which really attracted quite a few replies...
    Now I'm faced with even complicated questions :? ...I would be glad if a few seniors could help me out....

    First of all, is it possible to get into a front office role in corporate finance/M&A with a boutique right out of engg?....I'm not from an IIT or NIT...and don't have excellent acads as such...is it still possible if I work hard from here on?...
    ...I've got multiple negative suggestions in the past regarding the same and some people telling me that even a CFA might not help. :?

    I presently have an offer on campus from Patni, but I'm sure that I don't wanna take that up..So what options am I left with?....I wish to do an MBA after 4-5 years so I can't bank on an MBA to get me there.....is there anything that can get me into a good front end job....I would just be a CFA level 1 candidate when I'm out of engg in July, so how could I sell myself?...

    Last thing I want to happen, is that I register for the CFA L1 this Dec, and do get a finance job and hence end up in Patni rather than sitting at home. What will happen is that I'll screw up both...Patni training and the CFA....so I really wanted a few seniors to advice on this...Please! I have to take a decision this week and register for the Level 1 exam....

    Thanks a ton!



    I understand your situation and mostly agree with Neetu.

    CFA Level 1 won't guarantee you a good finance job. So I don't think you should leave Patni unless you have an alternate offer.

    There are 2 paths possible if you don't get a core ibanking job now:
    1. Get into an analytics firm like Evalueserve and try to do investment research, financial modeling etc.
    2. Try to get a job in derivative trading firms like Futures First.


  3. #43
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    Re: I-Banking after Engineering

    I know that Indian IT companies usually give really stupid work and so you don't want to join Patni. But you may join it and try to get some experience of the software industry. Later you can use this experience and combine it with an MBA or CFA to become an equity research analyst for technology stocks.

  4. #44
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    Re: I-Banking after Engineering

    @ Sougata:

    yea..I was considering firms like Futures First....but I suppose they recruit from top-notch colleges...wud I stand a change ?......and in case of evalueserve...I looked it up ....what skills do firms like these look for?...i can start working on that from now.....

    in fact, if someone out here has worked at Futures first, please pitch in.


    @ Kumar Ganesha:

    Thanks for the reply!

    Well, I'm looking at Corporate Finance/M&A rather than Equity Research....but yes, I can be more sector specific(IT) in my role while I apply to I-banks. Now Patni has a 2 yr bond..So if I do end up joining them, I might as well complete all the 3 CFA levels by the end of those two years. But the question is: what kind of work ex will I be getting in 2 years out there? ..I have a sibling who works in a top MNC in the Banking and Capital Markets Domain...u hardly get to learn anything about finance....its core software stuff that they do.....at least initially!...they do have domain training...ive seen the stuff...but its nothing compared to what I'll be learning through CFA....So then how wud the IT job help?...I would in face spend more of my time learning software stuff which I don't intend to...and I'm afraid it might eat into my CFA prep, especially when I reach Level 2 and 3....maybe 3-4 years of IT work ex might help bcuz by then I'll be into some sort of project mangement and will get some client exposure and will also be following market trends by then....but waiting that long would be a punishement! :mrgreen: ....That leaves me still confused :? .....Your take on it?

  5. #45
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    Re: I-Banking after Engineering

    Hi,

    I have worked in Futures First and it was a good experience. The timing can be a little odd and the work can be a bit stressful. But you'll enjoy it and you'll learn derivatives trading.

    They have recruited off-campus from non-IITs and you can check if they are recruiting currently or not.

    - Neetu

  6. #46
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    Re: I-Banking after Engineering

    Hi Neetu,

    what's their criteria of selection?....and they have an aptitude test i suppose....what's that like?

  7. #47
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    Re: I-Banking after Engineering

    Quote Originally Posted by time4apogee
    @ Sougata:

    yea..I was considering firms like Futures First....but I suppose they recruit from top-notch colleges...wud I stand a change ?......and in case of evalueserve...I looked it up ....what skills do firms like these look for?...i can start working on that from now.....

    in fact, if someone out here has worked at Futures first, please pitch in.


    @ Kumar Ganesha:

    Thanks for the reply!

    Well, I'm looking at Corporate Finance/M&A rather than Equity Research....but yes, I can be more sector specific(IT) in my role while I apply to I-banks. Now Patni has a 2 yr bond..So if I do end up joining them, I might as well complete all the 3 CFA levels by the end of those two years. But the question is: what kind of work ex will I be getting in 2 years out there? ..I have a sibling who works in a top MNC in the Banking and Capital Markets Domain...u hardly get to learn anything about finance....its core software stuff that they do.....at least initially!...they do have domain training...ive seen the stuff...but its nothing compared to what I'll be learning through CFA....So then how wud the IT job help?...I would in face spend more of my time learning software stuff which I don't intend to...and I'm afraid it might eat into my CFA prep, especially when I reach Level 2 and 3....maybe 3-4 years of IT work ex might help bcuz by then I'll be into some sort of project mangement and will get some client exposure and will also be following market trends by then....but waiting that long would be a punishement! :mrgreen: ....That leaves me still confused :? .....Your take on it?
    -----------------------------------------------------------------------------------------------------------------------------------

    I was not aware of the 2 year bond that Patni has imposed. It's sad that these companies use such tactics to retain employees. They are sure that the work is so bad that no one will like to stay even for 2 years.

    I will suggest that you start applying to other IT companies that don't have this bond. It'll be easier for you to get an IT job compared to a finance job. But once you get through Level 1 and have some finance knowledge, the chances of getting a decent finance job will also improve. Right now you may not get the really good finance jobs. They'll involve back office work and you won't like that.

    When do you have to join Patni? How many months are remaining?

  8. #48
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    Re: I-Banking after Engineering

    Th Patni bond has another clause...I've got to deposit 75k while joining them,which I'll receive along with accrued interest at the end of the two year period.

    They said in August...so if they are to be believed I've got 4 months to go! :twisted:

  9. #49
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    Re: I-Banking after Engineering

    Quote Originally Posted by time4apogee
    Hi Neetu,

    what's their criteria of selection?....and they have an aptitude test i suppose....what's that like?


    The main criteria for selection is the ability to crunch numbers very fast. They have a test were they'll give you simple maths question like 33.5X17.8 or 105/13 etc. You'll have to come up with the answers fast because it's like a competitive test. In a short time, who ever gets the max no. of correct answers goes to the next round.

    So basically they'll test your quantitative aptitude and analytical skills.

    - Neetu

  10. #50
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    Re: I-Banking after Engineering

    @Neetu:

    do they ask only calculation intensive questions like the ones you mentioned or even conceptual ones?

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