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Building A Career In Investment Banking: Please Advice - Career (2) - Nairaland

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Re: Building A Career In Investment Banking: Please Advice by deezed1(m): 11:19pm On Sep 04, 2012
U guys r GOOD!I've bin seekin 2 knw more abt IB and hw 2 get cos I wud really lyk my yonger sis 2 pursue a career in dis direction. But d issue is tryin 2 get her see things in dis light.
She's currently in her 1st yr as an undergraduate of Banking n Finance. Though I've nt discussed dis wit her, my fear being dt I wudnt want 2 b d 1 "pushing" her in2 it and wudnt also want her 2 accuse me of causing her "woes" (if any, in d future).As for her MBA, God willing, dt shud nt b a problem 2 handle.
I jst want advice on hw 2 go abt gettin her 2 buy into d idea of a career in IB witout her seeing it dt I'm tryn 2 force her into it.
Once she WILLINGLY decides 2, den evry other tips dat have been dropped here, I can talkover wit her.
Thanx y'all 4 ur anticipated replies.
Re: Building A Career In Investment Banking: Please Advice by missdharmie(f): 8:32am On Sep 05, 2012
Wow!This is a well of knowledge... Please can I get some career advice. Which of this Institutions offer internship positions. I am a graduate of Economics and an ican student at the moment. Seems the job offers are not coming through. So any place at all where I can get hands on experience? Thanks!
Re: Building A Career In Investment Banking: Please Advice by alexjelvis: 8:44am On Sep 05, 2012
I do believe there isn't any Investment banking activities in Nigeria at the moment because the Nigeria market is too narrow and lack the basic components needed to drive investment banking activities such as hedge fund, Derivative trading, portfolio construction , balancing and asset allocation et.al.
Re: Building A Career In Investment Banking: Please Advice by PBundles(m): 9:53am On Sep 05, 2012
How does the saying go again, you can lead a horse to the stream but you cant make it drink. Thats a tough one since to be honest this is not cut out for everyone. Even those that choose banking may not like or want a career in IB and at times I dont blame them. As I mentioned before its about grasping concepts quickly, relationship management etc. You also share in the success of large corps and their development. There is a kick, at least for me to see on the news a transcation come through that you have been working on. You also meet people you would not have met otherwise
(I met the head of TATA steel and his son during a transaction some years back). Also the pay is good, but that shouldnt be the driving force, though to my dismay,many are in it for that.


dee-zed:
U guys r GOOD!I've bin seekin 2 knw more abt IB and hw 2 get cos I wud really lyk my yonger sis 2 pursue a career in dis direction. But d issue is tryin 2 get her see things in dis light.
She's currently in her 1st yr as an undergraduate of Banking n Finance. Though I've nt discussed dis wit her, my fear being dt I wudnt want 2 b d 1 "pushing" her in2 it and wudnt also want her 2 accuse me of causing her "woes" (if any, in d future).As for her MBA, God willing, dt shud nt b a problem 2 handle.
I jst want advice on hw 2 go abt gettin her 2 buy into d idea of a career in IB witout her seeing it dt I'm tryn 2 force her into it.
Once she WILLINGLY decides 2, den evry other tips dat have been dropped here, I can talkover wit her.
Thanx y'all 4 ur anticipated replies.
Re: Building A Career In Investment Banking: Please Advice by PBundles(m): 9:59am On Sep 05, 2012
As I mentioned, my knowledge of the African job market/institutions are lacking sorry. If it concerns the US or EUR market I can send you info on that as seminars, and summer internships which is VERY VERY ( did I mention VERY) good way of getting your foot in the door. If you get a summer intern, be the first in and the last to leave, be inquisitive and take on all tasks. Believe me those are the ones that leave an impression and are not forgotten when we look for new intakes.


missdharmie: Wow!This is a well of knowledge... Please can I get some career advice. Which of this Institutions offer internship positions. I am a graduate of Economics and an ican student at the moment. Seems the job offers are not coming through. So any place at all where I can get hands on experience? Thanks!
Re: Building A Career In Investment Banking: Please Advice by PBundles(m): 10:04am On Sep 05, 2012
You could be right as I dont have much info on the nigerian market, THOUGH, I think that it boils down to the fact that the Nigerian Banks are not innovatie enough when it comes to IB. When I see market news concerning Nigeria, 9 out of 10, it concerns the involvement of a foreign investor and to some extent the local, state of federal government. I would think that banks would need to be involved in the process think of : performance bonds, insurance, possibly FX hedging since many foreign banks wont touch NAira forwards etc. So I think that teh IB market is still in its baby shoes in Nigeria but banks need to be more proactive.


alex jelvis: I do believe there isn't any Investment banking activities in Nigeria at the moment because the Nigeria market is too narrow and lack the basic components needed to drive investment banking activities such as hedge fund, Derivative trading, portfolio construction , balancing and asset allocation et.al.
Re: Building A Career In Investment Banking: Please Advice by PBundles(m): 10:16am On Sep 05, 2012
Also dont be afraid to look within independent non banking firms. For example

http://chapelhilldenham.com/careers


missdharmie: Wow!This is a well of knowledge... Please can I get some career advice. Which of this Institutions offer internship positions. I am a graduate of Economics and an ican student at the moment. Seems the job offers are not coming through. So any place at all where I can get hands on experience? Thanks!
Re: Building A Career In Investment Banking: Please Advice by missdharmie(f): 11:47am On Sep 05, 2012
PBundles:
Also dont be afraid to look within independent non banking firms. For example

http://chapelhilldenham.com/careers


Thank you very much! Please will my basic knowledge of Reuters and Bloomberg computer application be useful?
Re: Building A Career In Investment Banking: Please Advice by PBundles(m): 12:32pm On Sep 05, 2012
Always useful but not a deal killer. BB can be quite easily learned.


missdharmie:
Thank you very much! Please will my basic knowledge of Reuters and Bloomberg computer application be useful?
Re: Building A Career In Investment Banking: Please Advice by missdharmie(f): 12:46pm On Sep 05, 2012
PBundles: Always useful but not a deal killer. BB can be quite easily learned.



*Whew!
I wonder what the deal killer(s) is /are. Thank you very much for taking time out to respond. No knowledge is uselessgrin
Re: Building A Career In Investment Banking: Please Advice by deezed1(m): 8:35pm On Sep 05, 2012
PBundles: How does the saying go again, you can lead a horse to the stream but you cant make it drink. Thats a tough one since to be honest this is not cut out for everyone. Even those that choose banking may not like or want a career in IB and at times I dont blame them. As I mentioned before its about grasping concepts quickly, relationship management etc. You also share in the success of large corps and their development. There is a kick, at least for me to see on the news a transcation come through that you have been working on. You also meet people you would not have met otherwise
(I met the head of TATA steel and his son during a transaction some years back). Also the pay is good, but that shouldnt be the driving force, though to my dismay,many are in it for that.



Thanx a bunch. Wit dis hint, I guess I've got where 2 strt 4rm. Thnx 1ce again.
Re: Building A Career In Investment Banking: Please Advice by lovekillz(m): 10:30am On Sep 06, 2012
@ Pbundle,ijebulogic et all
i appriciate your advice & ur comments.
GOD BLESS U.
Re: Building A Career In Investment Banking: Please Advice by gentleme(m): 8:37pm On Sep 06, 2012
Guys,Pls I need ur advice on finance related certification and specialization.

I have several years banking branch operations experience and about rounding up a local mba program.

I am looking to leave commercial bankinking in a few yrs.

I need advice on d kind of finance certifcation I cld get dat wld not require too long a time 2 conclude and dat wld be sufficient to facilitate my moving to d finance dept of any blue chip organization (not necessarily invesment bank).

I read about on-line certifications like Financial Analyst Specialist Certification.how credible and acceptable are dis kind of certifications?

Ur candid opinion and advice will be highly appreciated.tanx in advance. Ajanlekoko respect.
Re: Building A Career In Investment Banking: Please Advice by Lehman: 11:45pm On Sep 07, 2012
For everyone exploring I-Banking, first you have to make sure you understand exactly what Investment Banking is and what it's not. Try to understand what the entry level jobs are and exactly what Analysts/Associates do at that level. You should also know that in the developed economies it is a roughly 10 to 12 year apprenticeship to truly become an Investment Banker. If you still like it after getting all these information, then maybe you have a shot at it. It's may not be as sexy as you think. Of course you can also pursue it as a means to other ends.
Re: Building A Career In Investment Banking: Please Advice by gentleme(m): 9:28am On Sep 08, 2012
Pbundles,oneblacboi,T22 and other finance gurus. Kindly help respond 2 my inquiry above.
gentleme: Guys,Pls I need ur advice on finance related certification and specialization.

I have several years banking branch operations experience and about rounding up a local mba program.

I am looking to leave commercial bankinking in a few yrs.

I need advice on d kind of finance certifcation I cld get dat wld not require too long a time 2 conclude and dat wld be sufficient to facilitate my moving to d finance dept of any blue chip organization (not necessarily invesment bank).

I read about on-line certifications like Financial Analyst Specialist Certification.how credible and acceptable are dis kind of certifications?

Ur candid opinion and advice will be highly appreciated.tanx in advance. Ajanlekoko respect.
Re: Building A Career In Investment Banking: Please Advice by tanimola22: 1:41pm On Sep 08, 2012
gentleme: Pbundles,oneblacboi,T22 and other finance gurus. Kindly help respond 2 my inquiry above.

I am not aware of any certification that would be sufficient to facilitate your proposed move to the finance department of a blue chip company, although I believe that some certifications may help. ICAN readily comes to mind in this regard. People with ICAN are many in the finance departments of top companies. Ask any HR person you know. ICAN is not bad. In fact, besides capital markets analysis and perhaps some intricacies involved in corporate finance and underwriting, a good ICAN holder can function well in the finance departments of many non investment/finance type firms. A good substitute for ICAN, as you know, is ACCA.

For online certifications, excluding online MBAs, MScs and co, I am not aware of anyone that used them as an edge to land a great job in Naija.

T22

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Re: Building A Career In Investment Banking: Please Advice by gentleme(m): 2:43pm On Sep 08, 2012
Tanx T22
Re: Building A Career In Investment Banking: Please Advice by lambalamb(m): 4:57pm On Sep 08, 2012
tanimola22:

I am not aware of any certification that would be sufficient to facilitate your proposed move to the finance department of a blue chip company, although I believe that some certifications may help. ICAN readily comes to mind in this regard. People with ICAN are many in the finance departments of top companies. Ask any HR person you know. ICAN is not bad. In fact, besides capital markets analysis and perhaps some intricacies involved in corporate finance and underwriting, a good ICAN holder can function well in the finance departments of many non investment/finance type firms. A good substitute for ICAN, as you know, is ACCA.

For online certifications, excluding online MBAs, MScs and co, I am not aware of anyone that used them as an edge to land a great job in Naija.

T22

Mr T22, have been trying to contact you since, av even sent you a mail. hope to hear from you.
Re: Building A Career In Investment Banking: Please Advice by Ufeolorun(m): 10:43pm On Sep 08, 2012
I am still seriously looking for these Investment banks in Nigeria because the form and structure of financial activities and big transactions in the economy,(new businesses,acquisitions,big project funding) do not reflect the presence of this form of banking in our country or are you referring to stock broking.Most of the above mentioned transactions are carried out by foreign investors using their special purpose entities.
If they do exist, then I think their impact is minimal( too many big,viable projects in Nigeria waiting for injection of new ideas and funding)
Re: Building A Career In Investment Banking: Please Advice by Mustay(m): 8:56pm On Sep 09, 2012
love_killz:
@ oneblacboi
could you please shed more light on the 'internship'.

It's what we call Industrial Attachment/Industrial Training/I.T.

It's done in the after the 2nd, 3rd, 4th or 5th year depending on the course and the university but relating it to this topic, it's the one where your school 'permits' you to go for a training (internship) for a certain period.

A lot of us don't go for it and we joke with our unseriousness saying we did our IT at "Iya Aluwe's ponmo shop" and the likes. That period is valuable. Based on your school's academic calendar, you can keep working with the coy during your hols - the unpredictability of the public universities (all manner of strike) makes this difficult and easy. Difficult in the sense that tomorrow, ASUU can call off the strike and you have to go back to school immediately. Easy in the sense that ASUU strike could last several months thereby increasing your experience.

missdharmie: Are the Internship offers really available? undecided
TBH, we know this to be in the -ve but some still offer. It's all about awareness as an undergraduate and a mindset. Just the way a job seeker looks for a job, an undergraduate can get this offer if s/he searches for it. cool
Re: Building A Career In Investment Banking: Please Advice by Mustay(m): 9:01pm On Sep 09, 2012
Re: Building A Career In Investment Banking: Please Advice by lovekillz(m): 11:00pm On Sep 09, 2012
@ mustay thanks,your response is highly appricieted. . .
Concernin the ASUU strike-the school does not go on strike.
I still need to answer these quetions for me.
{1} Does investment banker deal with private equity?
{2} Can someone still apply for the internship if it is not in the school course curricullum?
Re: Building A Career In Investment Banking: Please Advice by lovekillz(m): 11:01pm On Sep 09, 2012
@ mustay thanks,your response is highly appricieted. . .
Concernin the ASUU strike-the school does not go on strike.
I still need you to answer these quetions for me.
{1} Does investment banker deal with private equity?
{2} Can someone still apply for the internship if it is not in the school course curricullum?
Thank u once again.
Re: Building A Career In Investment Banking: Please Advice by deenee: 7:11am On Sep 10, 2012
I appreciate the effort at providing tangible responses to the questions asked herein. However, a lot of the people asking questions seem to have what I will call a "Hand me all the answers mentality"

This kind of mentality is not appropriate and ultimately does more harm than good. For the poster, investment banking and private equity are similar yet different in some aspects. Use the google search engine to do some research instead of waiting for ready made answers! If after you have done your research, you still have some grey areas that require further clarification, you can throw it open on domains such as this for further deliberation.

As for the internship, it is usually part of the school curriculum here in the West. I am also aware that most private universities in Nigeria have something along the lines of an internship for their students which still requires a little bit structure. Either way, you can still arrange privately to have an internship in unpaid capacity with a handful of the firms in Lagos. However, this might not translate in an automatic job offer upon completion. All the best!

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Re: Building A Career In Investment Banking: Please Advice by Mustay(m): 10:04am On Sep 10, 2012
deenee:
Either way, you can still arrange privately to have an internship in unpaid capacity with a handful of the firms.

True. It has to be pointed out that the financial reward should not be the incentive but the experience you'd garner and how it would build your career. Have a default mindset that you're gonna work for free and if you are lucky to be paid, no qualms, clean your crystal ball.


Essentially, you have to plan ahead (forecast). IMO from high school, guidance and counselling services are usually not either paid attention to, made use of or effective in their dispensation.
Re: Building A Career In Investment Banking: Please Advice by lovekillz(m): 11:22am On Sep 10, 2012
@ mustay & denee thanks i really appriciate ur commets & ur advice.
Re: Building A Career In Investment Banking: Please Advice by jeffharden(m): 6:31pm On Aug 27, 2014
Good day sir,i have a national diploma in banking and finance, but now am considering going to university to study economics. Can i still use that to further more on investment banking?. cause i want to be an investment banker. i will really appreciate your reply sirs.
Re: Building A Career In Investment Banking: Please Advice by nitrogen(m): 8:32pm On Aug 27, 2014
jeffharden: Good day sir,i have a national diploma in banking and finance, but now am considering going to university to study economics. Can i still use that to further more on investment banking?. cause i want to be an investment banker. i will really appreciate your reply sirs.

Nawa o, everybody wants to be an investment banker, God dey!

Economics is a solid background for investment banking, so give it a shot, and graduate with firstie or 2.1, maybe, you would get your desired afterward.
Re: Building A Career In Investment Banking: Please Advice by houseoftuition: 1:01am On Aug 28, 2014
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Give us a try and see that these are no mere words.

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Re: Building A Career In Investment Banking: Please Advice by seunEsq(m): 6:41pm On Nov 06, 2014
hi, I graduated with a 2:2 LLB from OAU and a 2:1 from Nigerian Law School. I have done independent training courses in Fin/Biz Analysis and Modelling, basic valuation etc. I'm interested in Corporate Finance and M/A. I would like to ask; what are my chances of getting an entry level position or in the alternative which firms are best for internships. Thanks

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