@Saga
Cuts and soft dollars are monies u earn aside ur emoluments. I know my top execs issue cheques to lawyers on most of our transactions aside the official fees due to their firm. Its a normal thing and also they tend to do one on one legal advisory for peeps that cannot afford their huge fees

Olaniwun Ajayi is a law firm and they own that multi million dollar edifice that houses Zain. its a sky scrapper and the building is one of the most expensive office complex in Lagos

On the average, the Oil and Gas sector pay higher than other sectors. The only problem with the sector is that people don't usually get promoted and the thing is, u might enter the sector with a high salary and u'll still be earning the same amount in 5 years.

Finance is catching up, they pay huge bonuses when they make money; on the average, the differential in salary compared to O n G is minimal but people prefer Oil and Gas cos of the fact that u do little to earn a lot. For every dollar u earn in IB, u'll probably dissipate a lot of energy to earn it.

With time, d financial sector will be at par or overtake the Oil and Gas


@Ajanlekoko
Ure right cos I know some MNCs that are still paying huge sums to McKinsey for some sort of interventions. Presently, McKinsey are in Abuja in partnership with a leading indigenous consulting firm on some projects in 9ja.

With the way u top professionals are training urselves on almost everythn, I hope u won't make the likes of Accentue and Phillips Consulting go broke. Lol

Sagamite:


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

don't know where u got your figures from. but bonus in IB are not fixed as you have illustrated above.

Bonus are usually quoted in percentages of base salary and it varies from bank to bank  and it is also usually discretionary.

The only folks usually guaranteed bonus are traders and senior management and theirs are usually linked with P&L.

candylips:

don't know where u got your figures from. but bonus in IB are not fixed as you have illustrated above.

Bonus are usually quoted in percentages of base salary and it varies from bank to bank  and it is also usually discretionary.

The only folks usually guaranteed bonus are traders and senior management and theirs are usually linked with P&L.

I gave averages, mate.

Bonuses are different between individuals, different between banks (even salaries and joining bonus) and different between job types (trader, M&A, Sales etc), same applies in other jobs ala Consulting and Law, I just gave an indicative average for a decent year for each job.

@Candy
Dunno about UK but here bonuses are tied to profitabilty

We make money, u earn ur bonus

In 2007, bonuses was as high as annual salary
Lmao

Hi jarus,
With an background in engineering and STRONG desire for investment banking.Please how do i start.Like i asked in the other forum, how do i kick off.

Tolulop001:

lol, thank goodness i'm not alone

^^^^^these guys dey another level!
with time, hustle and hard work, we go reach there
BTW,

sharkins:

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

i beg to differ, it is a combination of analyst insight and non material significant info abi?

here is a site with the daily updates on jobs vacancies http://www.nigerianvacancies.com/2010/09/enugu-jobs-in-nigeria.html

hectorbanks:

Hi jarus,
With a background in engineering and STRONG desire for investment banking.Please how do i start.Like i asked in the other forum, how do i kick off.

To get entry level job in investment banking, many organizations will not shortlist your CV out of teh many CVs with them except you have finance or management background(Economics, Accounting etc) or degree in other areas but with finance certificates(e.g CIS, ACA etc) or prior practical experience in finance(maybe you served in bank, Investment banking institution etc).

This is unlike mainstream banking where for entry level, course of study is  almost irrelevant. The reason is that the rudiments of IB are quite technical and nobody has time to be teaching you the ABC of it. So it's easier to recruit someone that you won't have to explain what stock or fund or M&A or commercial paper  to or how stock exchange operates.

I will advise you to enroll for CIS, and garnish your CV while you're still writing it, and begin to circulate your CVs to investment banking insitutions.

Tolulop001:

^^^^^these guys dey another level!
with time, hustle and hard work, we go reach there
BTW,
i beg to differ, it is a combination of analyst insight and non material significant info abi?

Sure u right. use of material significant insider info is a crime.

Jarus is right. u need to beef up your CV

This is the best post on career so far, I am an investment banker (post MBA) , did my MBA internship with the demon himself (GS) and joined a smaller boutique IB in Pittsburgh, my experience with IB in USA is that its a crazy, high octane career, with endless travels, long work hours chasing deals, writing pitch, developing models, powerpoint presentations and back to back meetings.

However, I came to Nigeria last year and teamed up with an ex-bank MD who was planning on setting up a private equity and principal investment firm, damn!!!, with all the promises he made when we met in NY, he has not fullfilled one, we dont even have a decent office or an official car and he has recruited 4 of his jobless family members to work with me, i have perserved this long because of 3 deals I am working on with 2 europe based multinational, and a local firm.

In the IB world two things matter, knowledge and the depth of your Rolodex (contacts), I hope this forum will give me an opprtunity to meet up with investment bankers who are desirous of starting up their own coy, or opportunities around.

^^^
do you want to start up or work in another place ?

looks like he wants to start something.

btw. how easy is it to start a coy in 9ja

^^
u wont sweat to incorporate a coy but u'll sweat to keep ur costs very low

if u have cash to get an office space, incorporate ur coy, reach the target audience, then no hassles

i doubt legislation would debar anyone from setting up a company

Problem with most folks is that they dont really understand what it takes to run a business. They start up with Low capital, poor or no business plan and end up crashing. They then turn around and blame the "hostile environment".

^^^ true

hmm i see. so its tough starting a biz in 9ja.

^^
is that what you deduced from my post?
lol

^^ legally its easy but operationally, business skills is a big issue. Most are more interested in the fixed assets (cars, fancy office etc) but they fail to design and implement good processes and procedures. Its not the physical structure (hardware) that makes a business but the unseen procedures (software) that drives the business.

mrjingles:

^^ legally its easy but operationally, business skills is a big issue. Most are more interested in the fixed assets (cars, fancy office etc) but they fail to design and implement good processes and procedures. Its not the physical structure (hardware) that makes a business but the unseen procedures (software) that drives the business.

Thank you.

One such procedure is staff salary.

I would rather sign an agreement to pay my experienced staff N25K per month and give them a 1000% bonus at the end of the year, than promise them I would pay them N400K a month and then not pay them for 4 months in a row because I am struggling with cashflow but yet I am sitting in some fancy office in VI.

Problem with most folks is that they dont really understand what it takes to run a business. They start up with Low capital, poor or no business plan and end up crashing. They then turn around and blame the "hostile environment".

This is a common mistakes by business start-ups everywhere, but I agree in Nigeria it's more the case.

It's almost as if investors go in with best case scenario analysis only.


The other day, someone presented me with a business plan for a start-up in Nigeria, which was about to launch. I brought out my spreadsheet and quickly did some very basic P&L modelling using data from the market analysis he had carried out.

He was horrified at the outcome. Even at an overly optimistic 50% above his projected annual turnover (which I thought was already quite high), the venture would still be running at a loss - mostly due to high operational costs.

Nothing beats rigorous analysis - competitive analysis, appropriabilty, and most importantly operational cost.

Hello house,

Has anyone got a link/links in vetiva cos i'm trying to get a foot into Vetiva.

I'm currently with a financial advisory firm.

All i need is an opportunity to speak with them and i'm sure they will be impressed

^^^^ thats confident

Tolulop001:

^^^^ thats confident

Why not?

If he thinks he is got it, why shouldn't he be confident?

my point is that IMO, there is having what the coy wants

and then there is them actually hiring you.

Tolulop001:

my point is that IMO, there is having what the coy wants

and then there is them actually hiring you.

,

, and the way to find out if both converge is to speak to them. Never hurts to try but not trying amounts to a dead end already

^^^ i agree absolutely

Tolulop001:

my point is that IMO, there is having what the coy wants

and then there is them actually hiring you.

I think I agree here. Naija coys are not about what someone can do for them. Some companies want you to beg for job. Sometimes, it is not just worth wasting your time over.

I attended an interview earlier this year at a rival company, against my better judgement actually. Someone told me they already had a candidate, and were just looking to walk through the formalities. Nonetheless I still showed up.
After the whole thing, they were like, do you have any questions for us, and I said this:

'Word on the street says you already have a candidate. If so, why did you invite me, a senior manager and head of department, to come and make up the number? Don't you know I could lose my job for attending this interview? At my level I expected to be head-hunted, not to be called to waste my time talking to you guys. Your internal candidate could never be as good as I am, or else you'd have given him the job already. Please, in case you don't know, this is highly unprofessional, and I'm sure none of you sitting here would take kindly to this if it is done to you.'

Na so dem drop jaw. In fact the HR guy at the interview nearly fell off his seat.

^^^ Wa she're!!! (May you do well [in life])

AjanleKoko:

I think I agree here. Naija coys are not about what someone can do for them. Some companies want you to beg for job. Sometimes, it is not just worth wasting your time over.

I attended an interview earlier this year at a rival company, against my better judgement actually. Someone told me they already had a candidate, and were just looking to walk through the formalities. Nonetheless I still showed up.
After the whole thing, they were like, do you have any questions for us, and I said this:

'Word on the street says you already have a candidate. If so, why did you invite me, a senior manager and head of department, to come and make up the number? Don't you know I could lose my job for attending this interview? At my level I expected to be head-hunted, not to be called to waste my time talking to you guys. Your internal candidate could never be as good as I am, or else you'd have given him the job already. Please, in case you don't know, this is highly unprofessional, and I'm sure none of you sitting here would take kindly to this if it is done to you.'

Na so dem drop jaw. In fact the HR guy at the interview nearly fell off his seat.

*loading*

but seriously were u still hoping to get the job after this?lolol

or u already knew it was a lost cause?

cause there was still a chance that the 'word on the street' was false and the interview was for real