Omnidragon
Devil
No point throwing tens of millions around and comparing them. In all these jobs you mention, most guys will never see anything like that from their gig.
-
Best of luck to the class of 2024 for their HSC exams. You got this! Let us know your thoughts on the HSC exams here -
YOU can help the next generation of students in the community! Share your trial papers and notes on our Notes & Resources page
Investment Banking (2 Viewers)
- Thread starter Merlin2512
- Start date
Bro Hedge Fund Manager
You do realise that Investment Banking is a temporary (2 years basically) job for most of its graduates (which all take analyst roles after completing an undergraduate degree, associate for post grad)? Most people use it as a launch pad for Hedge Funds and Private equity (No necessarily in Aus, the finance sector is nowhere as big as it is in HK, Singapore, NY or London). So to actually get to a Hedge Fund you will proably need to do investment banking.
Chronost
Ex CAG auditor - current CAG deal-maker
Expect most don't end up in PE(this is more doable but not really in Australia) or HF even if they wanted to after 2 years in IB - don't need to do IB at all for HF, it's all about the skills, obviously IB helps because you get those skills taught at work, but anyone in can learn the same skills and still go in to HF (e.g. high performing financial modelling analyst (not IB)- or someone who does very well trading stocks for a considerable period with a proven formula etc..). A lot in HF do come from an IB background, but it's not a must definitely.
Last edited:
Well A2A promotions are more commonplace in Australia so there's less movement to the buy-side, not to mention the tiny DCM / LevFin market over here - just going through Dealogic will tell you that. That being said, I don't see any other job being comparable to IB in producing a "high performing financial modelling analyst" (what does this even mean LOL) given the amount of hours bankers put in.
Also, a lot of the stuff posted on WallStreetOasis (seems to be a source a lot of you guys regurgitate here) are written by college students so take it with a grain of salt... lols.
Also, a lot of the stuff posted on WallStreetOasis (seems to be a source a lot of you guys regurgitate here) are written by college students so take it with a grain of salt... lols.
Last edited:
Chronost
Ex CAG auditor - current CAG deal-maker
If you think people in IB are the only ones producing financial models (Which they don't even do most of the time ) - have a bit of a look around
Anyways if you want any chance at a hedge fund, your not having it here, move to Asia (if your Asian and can speak Mando/Canto ideally) or otherwise the US for any luck.
Which other places would be building operating models that forecast every line item possible to support their merger models or LBO models? Please let me know. Also, financial modelling skills are just one (small) part of what PE firms look for - no one wants to hire some Asian who can calculate WACC in his sleep but has zero personality.
Also, the buy-side scene in Hong Kong is almost just as quiet as the one in Australia - again, you could just read through Dealogic to know this.
Also, the buy-side scene in Hong Kong is almost just as quiet as the one in Australia - again, you could just read through Dealogic to know this.
Chronost
Ex CAG auditor - current CAG deal-maker
Commercial Banks(both AUS and US), Big 4 audit firms,many investment/wealth management firms (state street,regency,bloom,platinum etc..) I can go on and on, have plenty of high performing employees with better financial modelling skills then an average IB guy (where most don't do modelling on a full-time basis) - doesn't have to be a merger model or LBO (although most of these would've have done enough LBO models). Obviously it's not the only thing, but it's a necessary skill and it's not a small part but does actually get tested, and if you can't build a good model for them, your not going to get the job in PE as an analyst. (My friends friend has just moved into PE and there was plenty of technicals tested to keep you on your toes)
I don't know if you're responding to my Asia statement, because it doesn't matter really matter about your "buy-side scene" for Hedge funds.
I don't know if you're responding to my Asia statement, because it doesn't matter really matter about your "buy-side scene" for Hedge funds.
- Joined
- Feb 16, 2005
- Messages
- 8,384
- Gender
- Male
- HSC
- 2006
Not sure if srs. Google is your friend.
Well depending on who you ask, you may be told that data scientists build LBOs and do it better than bankers!
Do Data Scientists need extra requirements compared to IB (Maj. Finance)? I'm definitely interested in Sales and Trading or FICC, however I do have the knowledge to use Excel and code applications.
- Joined
- Feb 16, 2005
- Messages
- 8,384
- Gender
- Male
- HSC
- 2006
Data scientists definitely need to code well for starters. They also need to know the in's and out's of data analytics (e.g. data mining techniques, data extraction, data validation, predictive analytics). Traditional investment bankers really only need a finance related qualification without any computer science.
Note that data scientists can apply the same skills in fields other than finance.
Dual Comm/Comp. Sci. might be a better choice after all, but I find no interest in Computer Science. Traditional Investment Bankers (M&A) are better off doing a humanities degree, @Trebla, when applying for a job in IB, are you able to choose which area in IB you would like to do?
Nailgun
Cole World
- Joined
- Jun 14, 2014
- Messages
- 2,193
- Gender
- Male
- HSC
- 2016
You might as well just do Comm. with hons
get out a year early
otherwise, I hear law is a good double for ib