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Top 10 Best Nig. Investment Banks In This Meltdown Period? - Investment (5) - Nairaland

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3 Easy Ways To Survive The Present Financial Meltdown In The Nigerian Economy / Beware Of Wonder Banks, CBN Warns / The Meltdown Of The Nigerian Capital Market: Causes And Consequences (2) (3) (4)

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Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Sagamite(m): 9:31am On Jun 16, 2009
Puvguy:

@sagamite
It's an irony that u're economical socialist- a leveller and socially a conservative.


Oga, this oyinbo pass me o. Abeg explain. grin
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Puvguy: 9:41am On Jun 16, 2009
U wan rub on me this morning. U cited the Scans welfare system which I benefit from, as I model of a state. U should also know that they're very liberal here- open gays and lesbians. So u catch my me now,
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Sagamite(m): 9:54am On Jun 16, 2009
Puvguy:

U wan rub on me this morning. U cited the Scans welfare system which I benefit from, as I model of a state. U should also know that they're very liberal here- open gays and lesbians. So u catch my me now,

No vex me  angry tongue, Chineke, we no suppose copy everything. Pick and choose the Ora (fatty source) from the good meat.  tongue grin grin grin

Oya back to economics and finance.  cheesy

And, No, I am not a social conservative, I am a social liberal with a filter.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by tkb417(m): 10:02am On Jun 16, 2009
Equitable distribution? Na beans, for where?   

Except you are saying the government will introduce compulsory military service, as equitable distribution of national cake only goes to ex-Generals. 

Fact is, some select few people are going to make a killing from these deals because of there networks and/or societal advantage, and most likely not because of merit.

I am yet to see a capitalist system deliver general well-being in the form or at the level that the Scandinavian model delivers. Capitalism appeals to the inherent greed that exist in humans and it cultivates it to come out unashamedly and acts like an auto-advocate for the worst breed amongst us.

Here is a classic example (Note: I am not saying all bankers are like this, but I do find this interesting):

http://www.thelondonpaper.com/thelondonpaper/news/london/city-trader-paid-1-3m-bonus-sues-company-for-being-short-changed

This arse paid himself 92% of the bonus pool, like if he did 92% of the work. Whilst paying others in the team peanuts or nothing (just because he can) and still has the guts to sue for more. 

But, let me be clear, I think there is room for PPP in Nigeria but I just hope the government have altruistic, deep and smart thinkers to get them a good deal.  

There are people but the sincerity of purpose has always been an issue.
Lets hope the likes of Saga will come on board my govt in 2018 grin grin grin

Pally, u don win
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Sagamite(m): 10:07am On Jun 16, 2009
At your service, my Excellency. wink
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by seunallday: 10:36am On Jun 16, 2009
been a while, good to see things are still happenin over here, had to get me nysc clearance done,

neways, heard ogun state has a bond issue coming out pretty soon, sure they wanna model lagos and akwa ibom (i tink) financing infrastucture with debt instruments, seen that first hand, was part of a team that went to pitch a proposal for their international/cargo airport, seen a bit of commitment on thier part but its pretty hard for PPP to thrive because from wat i saw there was a political undertone, fiscal instability is a threat to any PPP especially for a project with a payback period of about 20years, as in this case, but i hope it works for them, and for us in naija, we need a well balanced socio-capitalist mix wit each bloc checkin and balancin as they see fit, dunno d intricacies of political economics tho,
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by TCann(m): 12:31pm On Jun 16, 2009
Sagamite:

Equitable distribution? Na beans, for where?  grin grin grin

Except you are saying the government will introduce compulsory military service, as equitable distribution of national cake only goes to ex-Generals.  grin

Fact is, some select few people are going to make a killing from these deals because of there networks and/or societal advantage, and most likely not because of merit.

I am yet to see a capitalist system deliver general well-being in the form or at the level that the Scandinavian model delivers. Capitalism appeals to the inherent greed that exist in humans and it cultivates it to come out unashamedly and acts like an auto-advocate for the worst breed amongst us.

Here is a classic example (Note: I am not saying all bankers are like this, but I do find this interesting):

http://www.thelondonpaper.com/thelondonpaper/news/london/city-trader-paid-1-3m-bonus-sues-company-for-being-short-changed

This arse paid himself 92% of the bonus pool, like if he did 92% of the work. Whilst paying others in the team peanuts or nothing (just because he can) and still has the guts to sue for more.  undecided

But, let me be clear, I think there is room for PPP in Nigeria but I just hope the government have altruistic, deep and smart thinkers to get them a good deal.

@SAGAMITE
nice to know about ur inclinations gravitating towards socio-welfarism and u have successfully driven your points home using amongst the best socio-political arguments i ve ever ran into on NL,painting all the way,how best greedy capitalists could get (bankers 1st and foremost). All well said.Abeg bros,lets set up another arena for this and lets spank ourselves silly there.really,u will have a tough beat in some of us here.I can understand ur wrong notion-'finance guys that knows next to nothing on socio-welfarist stuffs' and u coming here 2 harass em.
lets leave the IB thread out of this,so that it wont look like we hijacked the thread and if u as much as take my challenge and set up another arena4it,i'll be the first to reply u,and u ll see what a combination it is to be a lawyer and a finance person. Deal,is it?
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Sagamite(m): 3:07pm On Jun 16, 2009
I am even struggling of what the thread should be titled as. grin grin grin

1 Like

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by kadman(m): 6:48pm On Jun 16, 2009
@ SAGAMITE

My bros from another mother. . I sent you an email,please reply me as soon as you can !
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 2:34pm On Jun 17, 2009
Sagamite:

I am even struggling of what the thread should be titled as. grin grin grin
Me too o. It started with ranking of Nigeria's IBs, then IB general market outlook, later info on getting job in IBs, later oil companies, later capitalism/welfarism argument and still counting. grin

Maybe the title should have been something like RANDOM DISCUSSION ON INVESTMENT BANKING AND NIGERIAN FINANCIAL TERRAIN.

1 Like 1 Share

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by worldz(m): 3:34pm On Jun 17, 2009
@Jarus

I will really appreciate it if you will continue with the infos u were giving before about the recruitment process in the oil and gas industry as u promised

Under 'achievement', you will be asked to give an achievement you have made in your life(they don't take academic achievement, so they won't take First Class as an achievement from you. I will give practical question-answer scenario later in this thread when I'm less busy).

COMING SOON: MOBIL AND OANDO. I will invite my friend in Chevron global headquarters in US, loma, also a Nairalander, to come and give us hints about Chevron, but the challenge is that he is in their IT dept and may know little about recruitment in their Finance. But let's see what he can offer here.

There are lots of people out there like me u are really helping. cheers!
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 4:58pm On Jun 17, 2009
worldz:

@Jarus

I will really appreciate it if you will continue with the infos u were giving before about the recruitment process in the oil and gas industry as u promised

Under 'achievement', you will be asked to give an achievement you have made in your life(they don't take academic achievement, so they won't take First Class as an achievement from you. I will give practical question-answer scenario later in this thread when I'm less busy).

COMING SOON: MOBIL AND OANDO. I will invite my friend in Chevron global headquarters in US, loma, also a Nairalander, to come and give us hints about Chevron, but the challenge is that he is in their IT dept and may know little about recruitment in their Finance. But let's see what he can offer here.

There are lots of people out there like me u are really helping. cheers!
Noted. I have not forgotten. Just quite busy.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by TCann(m): 9:17pm On Jun 17, 2009
Jarus:

Maybe the title should have been something like RANDOM DISCUSSION ON INVESTMENT BANKING AND NIGERIAN FINANCIAL TERRAIN.
It will never have attracted the traffic, thread traffic is all about the attractive and curiousity-laced topic keywords and sensible contributions of people like you.

worldz:

@Jarus

I will really appreciate it if you will continue with the infos u were giving before about the recruitment process in the oil and gas industry as u promised
hmmmm, Oil and Gas(finance)=/ IB.-unbalanced equatn,
Genius Jarus, dont guck yourself o, this maybe a good window to start that consulting thing that u ve always wanted to run-LOL(am just kidding b4 they tear me apart)

@WORLZ
longest time,bro,how was ur exams,God dey.u ve really missed some nice shows,update urself and get abreast of issues,esp this thread.send my ur num in my yahoo addy,we need to talk,som beautiful recently came up.

@Jarus
What is the test format like for an entry level aptitude test for an IB/Issuing house? is it the general GMAT or some customized Financial management/accounting tests.Pls reply soonest cos somethg is in the pipeline for yours sincerely.
Also,what will be ur comment on the average entry level package industry wide-either now or when u were still in the show,whichever info u av.

@others
I want to suggest that the thread shd take another turn,so as not to burn out the initial passion and also to keep abay thread hijackers from other areas of NL.So,

WHICH ARE THE 5 MOST VISIBLE IB INSTITUTIONS ON NIG. CAPITAL MARKET TERRAIN?

WHICH ARE THE 5 'TIGHTEST' CORPORATE FINANCE DEALS IN THE LAST 1 YEAR IN NIGERIA (ie M&A,RESTRUCTURING,SHARE INTRODUCTION INTO THE MARKET) AND BY WHICH IB?

Let everybody gets informed by your knowledge.Cheers.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 9:58pm On Jun 17, 2009
See my response 2moro by God's grace. Replying 4rm fone, so constrained 2 type much. U no say me i b talkative or is it writeative, lol. Gudnyt
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by seunallday: 9:37am On Jun 18, 2009
T-Cann:


@Jarus
What is the test format like for an entry level aptitude test for an IB/Issuing house? is it the general GMAT or some customized Financial management/accounting tests.Pls reply soonest cos somethg is in the pipeline for yours sincerely.
Also,what will be ur comment on the average entry level package industry wide-either now or when u were still in the show,whichever info u av.

@others
I want to suggest that the thread shd take another turn,so as not to burn out the initial passion and also to keep abay thread hijackers from other areas of NL.So,

WHICH ARE THE 5 MOST VISIBLE IB INSTITUTIONS ON NIG. CAPITAL MARKET TERRAIN?

WHICH ARE THE 5 'TIGHTEST' CORPORATE FINANCE DEALS IN THE LAST 1 YEAR IN NIGERIA (ie M&A,RESTRUCTURING,SHARE INTRODUCTION INTO THE MARKET) AND BY WHICH IB?

Let everybody gets informed by your knowledge.Cheers.


yeah, would also like to know the test formats,

CF deals, most of the sweet deals i tink have been PE deals, cant say how sweet but i hope Meristem's eterna oil offer goes really well for them, i know one of the worst tho, starcomms, and whoever did the honeywell bit, dat was just ill timed, hrd bgl is helpin savannah bank restructure and recapitalise tho, any gist anymore before TBK starts pickin members of his cabinets, lol
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by tkb417(m): 11:41am On Jun 18, 2009
i have done a lotta deals in my present coy and they are huge
the big banks in Nigeria and others were our heavily paying clients for some time

my mandates span the finance/manufacturing, real estate to the oil and gas but i dont think i can mention the details of the deals

i don sign some non-disclosure agreement grin grin
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by server34(m): 6:18pm On Jun 18, 2009
Jarus, I think ur doing a good job with ur posts, they are very educating and inspiring. But I also think some of ur comments are unnecessary and pompous. Try 2 keep it on d low most times ok?. . . my2centimes. . . Plus I think u shouldn't have moved to the Oil sector from your previous job. because I can see you are obviously very good with the economics and investment sturvs, sadly however the engineers/geoscientists run the show within the oil (producing) companies. The money is good yeah, but please always do ur investment/economics thingz on d side. . . . don't let dat slide. . .
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by TCann(m): 11:26am On Jun 20, 2009
@Genius Jarus
Howdy, still waiting to recieve in ur response.


@seun
Yep,i want to agree with u on the ETERNA OIL deal, i used to be a curious investor way back in the Uni those days about the low share price of the coy,as it always closes at ridiculously low price compared to other O&G coys quoted at d end of each trading day and since i have followed the devt in the coy,so the restructuring by Meristem was quite somthg, considering the swelling market value of the coy pre-meltdown time.Hopefully,stuffs already put into place during the restructuring shd blossom and take more definite shape when this whole fin. mess start clearing off,hence leading to the visible and stronger ENTERNA OIL brand-share price wise and goodwill-wise.

As regards the SAVANNAH BANK restructuring thing,good to know somthg like that is in the pipeline,but can u shed more light on it, dont really know much about it for now,except i research it.


@tkb
As regards other mamoth deals that u ve dug ur teeth into or that have come to ur notice in the course of ur work,we can at least know the names of the coys involved in the transac, i can tell u authoritatively from a legal point of view that u will not be contravening any provision of any non-disclosure doc u might have signed with ya employers,by mentioning parties to a deal.These CF deals info,most times, are within the purview of public domain and info on them can always be gotten from several sources.
Bros,lets share from the fountain of ur practical experience and exposure,nothing do you o!-LOL

@others
it's as if others are just playing observers,common on,puvguy,babalawo,sagamite,worldz, et al, we can do berra now.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by babalawo(m): 3:39pm On Jun 20, 2009
@ t cann
I just got back to 9ja so just chilling with wify and little son
keep the trend hot
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by hayoakins(m): 5:28pm On Jun 20, 2009
i wish to contribute to this topic but am a  newbie, got nothing to say, i am really feeling this thread,

thanks to all that have contributed in a positive way.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 2:40pm On Jun 21, 2009
server34:

Jarus, I think ur doing a good job with ur posts, they are very educating and inspiring. But I also think some of ur comments are unnecessary and pompous. Try 2 keep it on d low most times ok?. . . my2centimes.

If the above is well-intentioned, then I must say a big thank you. But remember you said same thing when we crossed path in one thread in education section and I bluntly replied you right there that 'if advising the junior ones is what you call self-trumpet blowing, then I want to blow it louder' and we later came to an understanding after exchanging few posts. So I'm still struggling to believe this is not undue fault-finding(Stalking is too hard a word here, much as I was tempted to use it).

I don't think I can impress anybody here and I don't want to. That's just the natural way I express myself. Who do I even want to impress when we have far bigger boys here in Ajanlekoko(a mgr), TKB, debosky, Crackles(playful as he is), oyb(we work in same coy and he's my senior) and others? So who am I here? Advising and motivating sometimes may require words that may appear proud, even though the intention is far from that.

In any case, one thing about me is that I care about what people say about me, so I'll PM you(I have the right as a Mod) and ask for my posts that smacked of pompousness so that I can modify them.

Thanks

1 Like

Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 3:03pm On Jun 21, 2009
server34:

Plus I think u shouldn't have moved to the Oil sector from your previous job. because I can see you are obviously very good with the economics and investment sturvs, sadly however the engineers/geoscientists run the show within the oil (producing) companies. The money is good yeah, but please always do ur investment/economics thingz on d side. . . . don't let dat slide. . .

Yeap, I have my academic degree in Economics and that is my primary field and that is where I think I can do best, but you know, boys need enough dough at this early stage, so boys will not hesitate to join any company that offers the highest reward with minimal stress, and that is what oil coys are. I have become an accountant overnight(forced to write ICAN) and put aside my Economics certificate/knowledge aside, but by the grace of god, I still have great and conscious plan to go back to my primary field, but not investment banking really. CBN is where I'm actually eyeing but I'm too young to join a government establishment now. Boys need money, so still playing around within oil & gas sector

Ajanlekoko's theory says it almost all: https://www.nairaland.com/nigeria?topic=261802.msg3996382#msg3996382

I'm still on general track, but consciously planning to go back to personal track.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Sagamite(m): 3:22pm On Jun 21, 2009
Jarus:

If the above is well-intentioned, then I must say a big thank you. But remember you said same thing when we crossed path in one thread in education section and I bluntly replied you right there that 'if advising the junior ones is what you call self-trumpet blowing, then I want to blow it louder' and we later came to an understanding after exchanging few posts. So I'm still struggling to believe this is not undue fault-finding(Stalking is too hard a word here, much as I was tempted to use it).

I don't think I can impress anybody here and I don't want to. That's just the natural way I express myself. Who do I even want to impress when we have far bigger boys here in Ajanlekoko(a mgr), TKB, debosky, Crackles(playful as he is), oyb(we work in same coy and he's my senior) and others? So who am I here? Advising and motivating sometimes may require words that may appear proud, even though the intention is far from that.

In any case, one thing about me is that I care about what people say about me, so I'll PM you(I have the right as a Mod) and ask for my posts that smacked of pompousness so that I can modify them.

Thanks

If you float like a butterfly and sting like a bee, let them know.

If you are the special one, let them know.

Isambard Brunel, Jose Mourinho, Simon Cowell, Brian Clough, Muhammed Ali, Prince Naseem Ahmed, Kanye West are all people I admire very much.

They are talented and they know it.

Don't let anyone EVER tell you what your style should be when you are talented and can prove it. It is aight to be cocky, nothing wrong with that.

Brian Clough (great football manager) said:

On getting things done.
"Rome wasn't built in a day. But I wasn't on that particuar job."

Looking back at his success.
"I wouldn't say I was the best manager in the business. But I was in the top one."

On dealing with a player who disagrees.
"We talk about it for twenty minutes and then we decide I was right."

On the influx of foreign players into the Premier League.
"I can't even spell spaghetti never mind talk Italian. How could I tell an Italian to get the ball - he might grab mine."

Criticism of his players (Derby county) in a game a streaker interferred.
"The Derby players have seen more of his balls than the one they're meant to be playing with."
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 3:29pm On Jun 21, 2009
T-Cann:

@Jarus
What is the test format like for an entry level aptitude test for an IB/Issuing house? is it the general GMAT or some customized Financial management/accounting tests.Pls reply soonest cos somethg is in the pipeline for yours sincerely.
Also,what will be ur comment on the average entry level package industry wide-either now or when u were still in the show,whichever info u av.

Different IBs have different test formats, just as different banks also have different formats. I don't know much about their tests.

For Vetiva, it's 55 questions plus an essay, the title of which I will not say here, but I'll advise you don't waste much time on the essay. The time is 90 minutes and it's a mixture of English and Maths, mostly word problems. There is 'sentence correction' aspect, and of course 'nearest in meaning' and 'opposite in meaning' sections. The passmark is 60%. They are more related to foreign GMAT than this locally made GMAT book most job seekers carry around.

For IBTC, if they've not changed it, it's 60 questions, 90 minutes and that was the cheapest test I have ever done. The passmark is 50% and I wonder why people fail this test. I won't state my score here to avoid being called pompous again here but it was quite high. It's a mixture of English and maths, but most of the Maths are business maths - simple, compound interests etc. English also contains 'nearest in meaning', 'opposite in meaning', etc. No shapes and figures. No graphical interpretations.

I don't know anything on the test formats for other IBs.

Package? First, it differs markedly across different organizations. Second, I learnt from a friend in one of them yesterday, that they implemented pay cut when the crisis hit them. So I may not be able to help. But for those that are wholely owned subsidiary of banks, their pay is usually the same as what entry level earns in their parent bank. For those that are strictly IBs, it depends on the size and the success: The big ones(most mentioned earlier in this thread) pay between 160-200K per month as take-home, while the small, not too successful ones pay between 80-120K net per month. It differs markedly.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Sagamite(m): 3:38pm On Jun 21, 2009
T-Cann:

@others
it's as if others are just playing observers,common on,puvguy,babalawo,sagamite,worldz, et al, we can do berra now.

Back to the finance.

I have to play mostly observer as I am not that versed on the Nigerian IBs as the market is fragmented and the players don't reveal much info.

If there is something needed to be said about the Western ones or in a comparative context with Naija IBs, then I will be able to add.  wink
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 4:23pm On Jun 21, 2009
worldz:

@Jarus

I will really appreciate it if you will continue with the infos u were giving before about the recruitment process in the oil and gas industry as u promised

Under 'achievement', you will be asked to give an achievement you have made in your life(they don't take academic achievement, so they won't take First Class as an achievement from you. I will give practical question-answer scenario later in this thread when I'm less busy).

COMING SOON: MOBIL AND OANDO. I will invite my friend in Chevron global headquarters in US, loma, also a Nairalander, to come and give us hints about Chevron, but the challenge is that he is in their IT dept and may know little about recruitment in their Finance. But let's see what he can offer here.

There are lots of people out there like me u are really helping. cheers!

DISCLAIMER: Anything mentioned here about a company does not represent the official position of the company, just as any organization or figure quoted here, and in my other posts, should not be taken as accurate. The goal here is to contribute our little quota to solving unemployment problem in Nigeria, and demystify the widespread pessimistic mentality and demonization of the job market in Nigeria. Lack of information about the job market, as opposed to lack of requisite skills, is the bane of many job seekers in Nigeria.


MOBIL:
Mobil is one of the highest paying companies in Nigeria.
RECRUITMENT PROCESS: They also don't recruit anytime, but usually once in a year. Bear in mind that we are talkng about Finance jobs here. They place advert in papers and shortlist a lot of people(unlike Shell) running into thousands but at the end of the process may not take more than 100. They organize tests in batches, taking 3-4 days at times. Their test is usually divided into three parts:Verbal reasoning, quantitative reasoning and abstract reasoning.
Under verbal reasoning, you will be given a number of short passages to read within limited time and questions will follow each passage. The question takes the form of a statement which you will be asked to say whether it's TRUE, FALSE or CANNOT SAY. The idea is to test your understanding of the passage.
Under quantitative, you will be given a chunk of graphs and tables with headings, and you will be asked to answer questions based on your interpretation of the graphs and tables.
Under abstract, you will be given figures and shapes and asked to complete blank spaces, where you will need to identify the realtionship between the figures and shapes.
You have to be super fast. Few people usually scale through test stage in Mobil.
The common Nigerian GMAT could be useful here. There is one special section in that GMAT that exactly covers these areas.

If you are lucky to scale through the test stage, then interview will follow. Their interview is also like Shell's, though not structured like Shell's.
It's not the regular interview of 'tell me about yourself', 'why do you want to work with us?' ,' where do you want to see yourself in the next three years?' etc.
It requires conscious preparation, because if you don't have ready made answers for most of the questions, you may be caught napping and unless you are a very fast thinker, you will find yourself embarrassingly uttering incoherent answers, like one of my friends that fluffed the interview used to make jest of herself.
The interview is quite thorough and you will be asked to describe a scenario in the past where you had to work as a team, where you were faced with the challenge of having to compromise, where you disagree with your team members, other challenges you have faced in your life. And the challenge here is not ' . . . . ehn, when my grandmother died. . so I was living alone. . .so I didn't have any food to eat'. They require real life problem-solving challenge, working with other people, resource constraint, challenge of having to work with a difficult team leader/member etc. It will be quite theatrical and you will be drilled. If you have any, probably when you were in school and you were president or exco or member of a club/association etc, it is advisable you refresh your experience so as to be confident, coherent and take charge of the interview.

PACKAGE:[/b]Their pay package is in the region of 6M per annum for entry level. Free lunch, good working environment etc.

[b]CONTRACT JOB
Mobil takes a lot of people on contract, but the above described process is for regular, permanent offer. For contract offer, it's not as strict and thorough as decribed above and pay far less, of course. The chance of having a contract offer converted to permanent one tends towards zero, but your contract may be renewed again and again.




OANDO:
Oando is great company by all standards, ably run by the wonder kid of corporate Nigeria, Wale Tinubu. An indigenous company giving almost century-old multinationals a run for their money, and foraging into areas nobody imagined a home-grown O&G player could dare. A company with a great future, if you ask me.

RECRUITMENT PROCESS: Entry level in Oando used to be handled by the company's HR dept, but it has now been outsourced to an external consulting firm, Brass consulting, effective last year. So all the entry level recruitment is now being handled by Brass. They have a programme called Graduate Trainee Programme(GTP) which was just started. Here, Brass, on behalf of it's client,through advert in papers, invites applications from sutably qualified candidates. But beyond that I don't have any idea about the other stages, but of course, the shortlisted candidates will write test, and face series of interviews etc. At the end of the exercise, the successful candidates will join the company. They will be subject to one year on-the-job training and will move across various entities and departments and they will be assessed after one year.

PACKAGE: Competitive. Good working environment. lipsrsealed
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by server34(m): 7:02pm On Jun 21, 2009
Jarus:

In any case, one thing about me is that I care about what people say about me, so I'll PM you(I have the right as a Mod) and ask for my posts that smacked of pompousness so that I can modify them.

Thanks

Ur welcome. I'd reply to ur PM when am less busy. . . . say tomorrow.
Jarus:

[b]PACKAGE:[/b]Their pay package is in the region of 6M per annum for entry level. Free lunch, good working environment etc.

Its way more than that. Unless the package is different for entry level engineers.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by zander87: 8:59pm On Jun 21, 2009
I have been following this thread with great interest.I think you guys are doing a good job in demysifying the terrain.I have some question though;

What kind of training programmes can someone at entry level expect from an investment bank in Nigeria and do these firms organise training courses for their staff away from the office ?

Apart from salary,are their any other criteria that seperates one investment firm from another which a potential employee should consider?

Thanks.
smiley
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by rasmur5: 9:29pm On Jun 21, 2009
server34:

Ur welcome. I'd reply to ur PM when am less busy. . . . say tomorrow.
Its way more than that. Unless the package is different for entry level engineers.


See this:

Jarus:


Bear in mind that we are talkng about Finance jobs here[/b]
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by TCann(m): 10:33pm On Jun 21, 2009
Jarus:

Different IBs have different test formats, just as different banks also have different formats. I don't know much about their tests.

For Vetiva, it's 55 questions plus an essay, the title of which I will not say here, but I'll advise you don't waste much time on the essay. The time is 90 minutes and it's a mixture of English and Maths, mostly word problems. There is 'sentence correction' aspect, and of course 'nearest in meaning' and 'opposite in meaning' sections. The passmark is 60%. They are more related to foreign GMAT than this locally made GMAT book most job seekers carry around.

For IBTC, if they've not changed it, it's 60 questions, 90 minutes and that was the cheapest test I have ever done. The passmark is 50% and I wonder why people fail this test. I won't state my score here to avoid being called pompous again here but it was quite high. It's a mixture of English and maths, but most of the Maths are business maths - simple, compound interests etc. English also contains 'nearest in meaning', 'opposite in meaning', etc. No shapes and figures. No graphical interpretations.

I don't know anything on the test formats for other IBs.

Package? First, it differs markedly across different organizations. Second, I learnt from a friend in one of them yesterday, that they implemented pay cut when the crisis hit them. So I may not be able to help. But for those that are wholely owned subsidiary of banks, their pay is usually the same as what entry level earns in their parent bank. For those that are strictly IBs, it depends on the size and the success: The big ones(most mentioned earlier in this thread) pay between 160-200K per month as take-home, while the small, not too successful ones pay between 80-120K net per month. It differs markedly.
@Genius Jarus
U have not for a day disappointed the confidence i reppose in you and am sure am saying the minds of several pple.
Good reply there.
Jarus,i'd love to tell u something here-never be distracted by comments.Apply OBJ's model(never reply critics).I dnt know when u were at Ife, whether u had the oppurtunity to lead people,at political/faculty/deptal levels.Pple will always throw careless comments around.My 5yrs at U.I were spent being a president of XYZ association or the other,develop a thick skin and like a friend of mine that finished from Ife will say-'i wont grant them the luxury of a reply or joining issues'
-Books apart,you re a a smart and well versed person,a mspecial rear breed on NL. pls keep up the good works here.
-Are u qualified,i mean ICAN.
-I need to give u some hints,send ur IM addy to me or berra still,join me to ur yahoo IM

peace.
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by tkb417(m): 8:27am On Jun 22, 2009
If the above is well-intentioned, then I must say a big thank you. But remember you said same thing when we crossed path in one thread in education section and I bluntly replied you right there that 'if advising the junior ones is what you call self-trumpet blowing, then I want to blow it louder' and we later came to an understanding after exchanging few posts. So I'm still struggling to believe this is not undue fault-finding(Stalking is too hard a word here, much as I was tempted to use it).

I don't think I can impress anybody here and I don't want to. That's just the natural way I express myself. Who do I even want to impress when we have far bigger boys here in Ajanlekoko(a mgr), TKB, debosky, Crackles(playful as he is), oyb(we work in same coy and he's my senior) and others? So who am I here? Advising and motivating sometimes may require words that may appear proud, even though the intention is far from that.

In any case, one thing about me is that I care about what people say about me, so I'll PM you(I have the right as a Mod) and ask for my posts that smacked of pompousness so that I can modify them.

Thanks

ol boi, forget it
even if we didnt meet while in school. David and Banwo ur fellow First class people grin told me about u
ure what Dbanj called ogbona feli feli grin

ride on brother, the sky is the limit
nothn do you
Re: Top 10 Best Nig. Investment Banks In This Meltdown Period? by Jarus(m): 8:33am On Jun 22, 2009
server34:

Ur welcome. I'd reply to ur PM when am less busy. . . . say tomorrow.
No problems, server. I will delete my earlier comment after our discussion 'off-camera'.

Its way more than that. Unless the package is different for entry level engineers.
Thanks. I don't know whether it's the same for Engineers & Finance recruits. But I know it's not less than 6M for finance recruit and could be as high as 8M.
Also note my earlier caveat that any figure quoted here may not be accurate, as people prefer to give range, rather than being exact, when it comes to disclosing earnings.

T-Cann:

@Genius Jarus
U have not for a day disappointed the confidence i reppose in you and am sure am saying the minds of several pple.
Good reply there.
Jarus,i'd love to tell u something here-never be distracted by comments.Apply OBJ's model(never reply critics).I dnt know when u were at Ife, whether u had the oppurtunity to lead people,at political/faculty/deptal levels.Pple will always throw careless comments around.My 5yrs at U.I were spent being a president of XYZ association or the other,develop a thick skin and like a friend of mine that finished from Ife will say-'i wont grant them the luxury of a reply or joining issues'
-Books apart,you re a a smart and well versed person,a mspecial rear breed on NL. pls keep up the good works here.
-Are u qualified,i mean ICAN.
-I need to give u some hints,send ur IM addy to me or berra still,join me to ur yahoo IM

peace.
Thanks for your complementary remarks. Being an Econs grad, you know I will have to pass thru 5 stages in ICAN, and I never had initial plan to be an Accountant, so I started quite late, but I'm now 2 steps away from qualifying, and already with a number of prizes at previous stages. In any case, I don't have any plans to establish a long-term career as an Accountant. But the certificate and the practical experience I'm gaining now is surely going to be an added value when I return to my primary field of interest.
And one last thing, do me the favour of dropping that prefix/title you gave me. I'm far from being a genuis, a struggler at best. grin

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