whats up peeps, nice thread you got goin on here. wud appreciate some aspa securing a job in investment banking in naija.

I am aware that most investment related companies, banks included normally demand a 2.1. unfortunately i missed out on my 2.1 from a solid uk university by hairlines, no thnx 2 sum yawa in my final year. I jus completed my service year at central bank. I want to know realistically wat r my chances of breaking in. I know 2.1 is not d end of life, and besides i am in the process of upgrading my cv by registering for the cfa programme. I am really keen to get some experience in Ibanking in naija b4 going for masters. If any of the folks in d house know places i can drop my cv and be given an opportunity to prove myself in aptitude test/interview it would be much appreciated. Any general useful tips and advice is also welcome. cheers

bemster:

Of course I figured where u work! What sort of analyst will I be if I didnt work that one out?
I love love Actis, they have such good rep and have that emerging markets focus thats a big attraction to me but I missed the boat on this year's recruiting. Are your IFC friends in the Nigerian office? I feel like I've spoken to almost everyone there. Btw, you seem to have 'friends' in high place, can I be your handbag?

Re stories,

hehe
Of course, if im supposed to open an IB shop right now, the best biz model will surely be to focus on emerging markets. Friends in high places?
when u land in 9ja, u'll know how the HNIs value their IBs. Ive done deals and it makes sense to have met or done one or 2 things with the 'players' in the IB space 9ja. We are not plenty
the AFricInvest, Chapelhill, StanbicIBTC, Rencap, ARM, BGL, ACTIS peeps are still the same peeps doing the deals. and oh yeah, my friends are in Lagos IFC office. Youve spoken to everybody there?

you know Chi . EG?
dont be my handbag o

ill pass my email to you , so we can talk later
cheers

tkb417:

hehe
Of course, if im supposed to open an IB shop right now, the best biz model will surely be to focus on emerging markets. Friends in high places?
when u land in 9ja, u'll know how the HNIs value their IBs. Ive done deals and it makes sense to have met or done one or 2 things with the 'players' in the IB space 9ja. We are not plenty
the AFricInvest, Chapelhill, StanbicIBTC, Rencap, ARM, BGL, ACTIS peeps are still the same peeps doing the deals. and oh yeah, my friends are in Lagos IFC office. Youve spoken to everybody there?

you know Chi . EG?
dont be my handbag o

ill pass my email to you , so we can talk later
cheers

Pardon my ignorance but what does HNIs mean?
And yeah I've spoken to Chi. EG. I hear he's quite the whiz-kid, although all the OAU guys ve met lately seem to be of similar calibre - it must be something in the water over there
So I got an offer from P&G as a fin analyst and while I'm not keen have heard the pay is really good. Really tempted but feel like I should wait for my first love (IFC) but who knows when they will make up their mind!!!!

What do you know of Travant Capital? It was set up by some ex-Oando peeps

Will be waiting patiently for your email address, and the strap to your handbag

Heheheh
They told u he's the whiz kid? LOL
OAU guys are always on point, trust me

I'm actually on my way to work now, ill pass my email and talk better

@OAU guys
Another round of applause for u peeps
We are simply the best
LOL!!!

bemster:

Pardon my ignorance but what does HNIs mean?
And yeah I've spoken to Chi. EG. I hear he's quite the whiz-kid, although all the OAU guys ve met lately seem to be of similar calibre - it must be something in the water over there
So I got an offer from P&G as a fin analyst and while I'm not keen have heard the pay is really good. Really tempted but feel like I should wait for my first love (IFC) but who knows when they will make up their mind!!!!

What do you know of Travant Capital? It was set up by some ex-Oando peeps

Will be waiting patiently for your email address, and the strap to your handbag

HNIs= High networth Individuals

yeah, i know Travant- They are the one of the PE coys around. ki lo sele? are you yoruba? lol

meanwhile, we'll talk about this ur P&G thing and ur convo with IFC- how u can marry both

im sending my email anytime from now

All these CFA people. I bow for una.

My sister is currently studying for her's . . . . . . . aswerigad, I no dey hear word or see road again.
Na so so book cover everywhere.
Na so e hard?

OMO IBO:

All these CFA people. I bow for una.

My sister is currently studying for her's . . . . . . . aswerigad, I no dey hear word or see road again.
Na so so book cover everywhere.
Na so e hard?

ol boi i wont say its not hard

studying can be stress especially when u have a job.

let ur sis bury her head in the books o and smash the exams
is she writing on Saturday too?

lol so na CFA dey rain now

Hi house! Great work so far, very informative. Keep it up.

Quick one: can anyone help me with some info on Cardinal Stone Partners, I mean deals they've handled in the past n their likely survival rate for the future given that this is a very tough business to be in. I know they handled the horrible honeywell IPO, but anything else?

OMO IBO:

All these CFA people. I bow for una.

My sister is currently studying for her's . . . . . . . aswerigad, I no dey hear word or see road again.
Na so so book cover everywhere.
Na so e hard?

I get one yankee returnee colleague wey dey do too o. . .na so so book cover everywia

hey guys pls as urgent as possible i need to know how much afri-invest and wstc pays corpers and entry level thanks guys

What happened to Capital Alliance PE (CAPE) they made noise some years ago but seems they are quiet now. Actis seems to be doing more deals. Abi dem dey work underground?

hey peeps this is so awesome! been tryin to get info on nig's inv bankin, n bang!!! here it is. thx for sharin this y'all. been very educative.

@tkb417 : would be nice to hav more insight, drop ur email, if u dnt mind. thx

MisC**:

hey peeps this is so awesome! been tryin to get info on nig's inv bankin, n bang!!! here it is. thx for sharin this y'all. been very educative.

@tkb417 : would be nice to hav more insight, drop your email, if u dnt mind. thx

ah
maybe u shd drop urs and u take it off when ive seen it

is that fair

how do i delete abeg?

ok delete wayo woman

hmm

@tkb, i vigorously want to pursue a career in the investment banking sector, i'm presently with a financial advisory firm but i don't think i'm learning enough as i should be. All i know about M & A i've learnt by myself from finance30.com's mergers & acquisition academy. I'm currently also preparing for CFA in december 2010. Coming from a science background, i had to register for a post graduate diploma in economics in Unilag and i just got my admission letter. I've had 1 year + of experience in Banking (credit risk mgt). I just need a bit of advice as to how to proceed wit ma career goals and most importantly i need a "big bro" figure i could always turn to for guidance and advise in this line

sharkins:

@tkb, i vigorously want to pursue a career in the investment banking sector, i'm presently with a financial advisory firm but i don't think i'm learning enough as i should be. All i know about M & A i've learnt by myself from finance30.com's mergers & acquisition academy. I'm currently also preparing for CFA in december 2010. Coming from a science background, i had to register for a post graduate diploma in economics in Unilag and i just got my admission letter. I've had 1 year + of experience in Banking (credit risk mgt). I just need a bit of advice as to how to proceed wit ma career goals and most importantly i need a "big bro" figure i could always turn to for guidance and advise in this line

ure on the right path bro

the zeal, the determination to read plenty books , learn on the job would surely get u there

i think your science background is not gonna be a debilitating factor as u'll be dealing with numbers in the investment banking profession

have u started reading? have u registered for the exams? if not, then u need to get on with that like 2mro morning cos its getting late already

do u really need the program in Unilag? i dont think so

nyways, stick around and ill surely pass whatever info u need to u when the need arises

tkb417:

ure on the right path bro

the zeal, the determination to read plenty books , learn on the job would surely get u there

i think your science background is not gonna be a debilitating factor as u'll be dealing with numbers in the investment banking profession

have u started reading? have u registered for the exams? if not, then u need to get on with that like 2mro morning cos its getting late already

do u really need the program in Unilag? i dont think so

nyways, stick around and ill surely pass whatever info u need to u when the need arises

Thanks alot for the response. As for the exam registration for CFA, i already registered and i've been reading for a long while. Thanks again "big bro". U r aprc8d

The Mosaic theory - a beautiful method of analysis for Analyst. Involves a use of insider info, thus, it's been criticized but the CFA recognises it as a

valid metod of analysis. Could be very tasking also

you can never go wrong if u go into investment banking. money dey there wella

candylips:

you can never go wrong if u go into investment banking. money dey there wella

What about your life?

In core IB in London, you work 80 to 100 hours a week at least for 49 weeks a year. Make your £75K to £2m a year but hardly have time to spend it.

You are greying early, you have high blood pressure, your wife is probably sleeping with someone else, she spends the money and you hardly see your kids (that is, if they are yours).

Believe me, most go wrong, very few investment bankers have a good life but they make serious dough. They just don't realise it and have a lost focus and misguided valuation of existence.

Do it, but at each point in your life focus on what is important and put the right valuation on this at the right time. Try and ensure you live a life you enjoy, not a life of a rich indentured slave (especially of money). The money is fantastic but make sure the price you are paying for it is worth it otherwise you are going wrong.

I don't know the IBs u roll with oh

Some of 9ja dudes in London will be joining in the rendezvous in Dubai next week for the October 1 jamboree. U work long hours yeah but u most of them catch their fun on d job. Dunno of jobs where u practically live in 5 star hotels, fly first class cabins and u roll with CEOs and of course d pay is good.

Some people pray to live this kinda life, this is what some people wanna do. What I know is, IBs don't really do this long hours thing for a long time. Usually, they get poached, set up advisory firms, or venture into an unrelated bizniz

Saga, ill rather overwork than be under employed

tkb417:

I don't know the IBs u roll with oh

Some of 9ja dudes in London will be joining in the rendezvous in Dubai next week for the October 1 jamboree. U work long hours yeah but u most of them catch their fun on d job. Dunno of jobs where u practically live in 5 star hotels, fly first class cabins and u roll with CEOs and of course d pay is good.

Some people pray to live this kinda life, this is what some people wanna do. What I know is, IBs don't really do this long hours thing for a long time. Usually, they get poached, set up advisory firms, or venture into an unrelated bizniz

Saga, ill rather overwork than be under employed

Consultants stay in 5 stars hotels as well eat in the finest restaurants since the company pays for it. How you think illiterate like me could ever taste lobster if not for that?  But one soon gets bored of it especially as they get older and priorities change.

I don't want to live my life rolling with CEOs, I want to live my live rolling with my doggs in Germany, London and Nigeria, watch documentaries about life (animals, people, societies, business that enlightens me about the quirky and sometimes harsh world we live in), seeing my nephews and chasing Risikatu, Kudirat, Chinenye, Pambra and Peace (when I was younger o ). That is when I am the happiest. 

When people leave for advisory firms, the money usually drops a bit.

Look the money is fantastic and very tempting, one should just know when enough is enough or when it is no more right.

I got my external consultant gloss briefly and I moved to internal consultancy where the work life balances better. I still have the same friends and I have not lost them.

One of my homies (a former UniLag guy) finished his MBA in MIT and joined one of the top IBs in USA doing M&A. I sent him an urgent email last week (almost 2 weeks), twice, to send some documents I wanted quickly, it took him 10 days to respond saying it "dropped under the radar". I had already done without the input. Thank God I am someone that understands what he is facing. 

In the UK, anecdoctally, 80% of IBers and Consultants with more than 15 years experience have been divorced once.

Nobody wins an argument with this Saga
Lol

To some extent, ill agree with u cos I'm only gonna get married when I'm outta IB. I can't be married and be living on the plane. Even my relationships suffer in a way cos ill love to see ma babe daily but na lie

Nyways, for now, 'the street is not smiling' so awon boiz gotta survive.

Ise lowo for now, later, we'll see what we can do

tkb417:

Nobody wins an argument with this Saga
Lol

To some extent, ill agree with u cos I'm only gonna get married when I'm outta IB. I can't be married and be living on the plane. Even my relationships suffer in a way cos ill love to see ma babe daily but na lie

Nyways, for now, 'the street is not smiling' so awon boiz gotta survive.

Ise lowo for now, later, we'll see what we can do

https://www.nairaland.com/nigeria/topic-465084.128.html#msg6253743

https://www.nairaland.com/nigeria/topic-465084.128.html#msg6260133

https://www.nairaland.com/nigeria/topic-434692.0.html#msg5934111

https://www.nairaland.com/nigeria/topic-434692.0.html#msg5934947

I don't know about Naija o, but in the UK, consulting is gradually losing its luster.

Back in the 90s and early 2000s, it used to be a wireline finish between IB and Consulting in regards to attracting the best grad and MBA through base pay. IB took it based on bonus, Law was third.

Nowadays, even Law has overtaken Consulting and the Oil & Gas employers are even paying on par with Tier 2 (Ops and Full integration Consulting), whilst IB has just dusted everyone. It is now IB >> Law >> Consulting/Oil & Gas. I really don't know the salary progression in O&G in UK to know which is better.

Package:

IB (Bulge Bracket)
First Year: ave £45K base salary + £5K joining bonus + £30K bonus = £80K
Second Year: ave £50K base salary + £40K bonus = £90K
Third Year: ave £55K base salary + £55K bonus = £110K
Tier 2 pays roughly the same base but with lower bonus, maybe bonus reduced by 30%.
Hours worked: ave 90 - 120 hours per week


Law (Magic Circle)
First Year: ave £38K base salary + £0K joining bonus + £4K bonus = £42K
Second Year: ave £43K base salary + £5K bonus = £48K
Third Year: ave £61K base salary + £9K bonus = £70K (Salary jumps as they have finished exams and are now fully qualified)
Some tier 2, Silver Circle, pay roughly the same base, some a few k lower (max 3K lower in salary), but most might not be able to match Tier 1 post qualification, paying 5-10% less.
Hours worked:ave 70 - 100 hours per week

Consulting (MBB)
First Year: ave £36K base salary + £5K joining bonus + £4K bonus = £45K
Second Year: ave £42K base salary + £5K bonus = £47K
Third Year: Usually, no third year in MBB as you are expected to go and do MBA or join industry (after 1 or 2 years doing MBA, base salary is about £70K [total package £100K]). The handful [of the very best] allowed to stay for third year make the same as MBA grad.
Some tier 2 Strategy and Boutique firms might pay more than MBB (circa £48K total package in first year) so as to attract quality as they can not compete with MBB based on brand. The other tier 2, Ops and Full integration, pay less than MBB firms by margins of 10-20% (total package, reduced mainly due to no bonuses) at junior levels and close to 30% lower at senior level.
Hours worked: ave 65 - 90 hours per week

Oil & Gas (Shell, BP etc)
First Year: ave £34K base salary + Don't know joining bonus + Don't know bonus = £??
Second Year: Don't know
Third Year: Don't know
Hours worked: ave 40 hours per week

Consulting firms margins are being squeezed as firms are building internal teams, using supply chain best practice, expertise availability is open globally and management are finding it a struggle to measure and map the value consultants add to the bottom line to justify the huge daily charge-out rates.

The advantage Consulting can use to beat competition in attracting the elite graduates is just the variety of interesting work and the fast-paced learning and development that industry jobs can not provide. Consulting sharpens you real hard.

I'm sure u know I started out with a consulting firm and I can say I really learnt but didn't make money cos the salary was next to nothn.

I can't really compare my time in consulting with what I'm doing now cos consulting afforded me the opportunity of going through 3 different SBUs. I started out with Performance mgt and I learnt how to deploy balanced scorecard. Was part of d team that implemented the stuff for some banks and later moved to strategy. Finished off with corporate finance and there and then, I made up my mind to be an investment banker cos all I needed to know to be an allrounder, I have learnt.

Insha Allah, I have done 2 years in IB, time to move again!

Saga, u know what I wanna do. Lol

That's d next stage for me oh, Money dictates where I go mehn

Ure right as per d dearth of activities in consulting terrain ad most orgs are developin competence in-house.unlike early 90s when banks would chase after consulting firms to implement their performance mgt model for them or even map out their corporate strategies; its not uncommon to find strategy desks in these banks. Most of these non consulting coys are poaching and attracting d best brains to come into d industries.

As for Law, I don't think the lawyers are earning that much but they are strategically placed to make money cos u practically need a lawyer to do any deal in Lagos. What they don't earn in official emoluments, they earn in cuts, soft dollars and transfer payments.

For Olaniwun Ajayi to have built that edifice in Banana island, then law firms are making serious money.

As for O n G in 9ja, they are still the don puzos. If I leave for a multi national Oil and Gas coy tmr, Saga my salary would be 120k GBP. Its dt easy!

^^
Not yet the MNCs. They still bring in the big boys from outside (Mckinsey, Booz Allen Hamilton, Peppers and Rodgers, Delta Partners, etc, into Nigeria to do major strategy consulting. The local cosulting firms are not doing much beyond advisory, with a few performance management and bsc deployment jobs in between.

tkb417:

As for Law, I don't think the lawyers are earning that much but they are strategically placed to make money cos u practically need a lawyer to do any deal in Lagos. What they don't earn in official emoluments, they earn in cuts, soft dollars and transfer payments.

Abeg wetin be cuts, soft dollars and transfer payments?

tkb417:

For Olaniwun Ajayi to have built that edifice in Banana island, then law firms are making serious money.

Na official edifice or residential edifice?

Abeg imform. You know, me I never reach Banana Island as dem no go allow me, na only Agbalumo Island go let me enter.

tkb417:

As for O n G in 9ja, they are still the don puzos. If I leave for a multi national Oil and Gas coy tmr, Saga my salary would be 120k GBP. Its dt easy!

So the O&Gs are still the kingpins for pay in Naija?

Over here, it is strictly High Finance.