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chiks-cfa2
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HI people, I jus recently joined this site and I must say I pleased to find quite afew of u u smart nigerians doing CFA. Trust me it ll b good 4 your career in finance.
I am myself, will be currently sitting the the CFA level 2 exams in JUNE and I worked for a Derivatives advisory firm in london for almost a year as a financial risk analyst, I also value companies with a friend of mine who is a freelance eqiuity research analyst (i bulild the financial models on excel) and I have worked as a finance analyst in an energy for a year. I am an active investor in the NIga stock market.
I am well educated in the UK with BA in accounting & finance & also MSc in Fund management at exeter university.
HOwever despite all this I want to move back to nigeria and work in the INvestment banking side preferrably in a M&A or private equity or even trading before setting up my own business a few years later.
Can anyone please tell what the average salary is for front-office guys in investment banking in nigeria and what the bonuses are like. Naira amount would do just fine. Please guys just numbers and the area of Investment banking will do.
I would also be happy to advise people on CFA if u need my help. Thanks guys
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ty2001
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i work in one of Nigeria up coming big bank,i think for your qualification and experience you would most likely come in as a manager in any of the bank and the salary range across the industry for that postion is between =N= 11,000,000-13,000,000/yr(45,000 --55,000 pounds per annum) you will be entitle to a Honda accord latest model(most banks),for some banks you will be entile to profit sharing.
But i think your driving force of coming back should be coming to add value,if you look at the money you will be disappointed at the end of the day,because of inflation.you can try banks like IBTC-stanbic,GTBank,Zenith.
I also believe some of these investment houses pays better than banks,so u might get investment house offering you between 50,000 --- 70,000 pounds per yr.
Good luck!
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chiks-cfa2
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hey ty2001,
Thanks alot, I really appreciate your reply. Of course I agree with you that my returning home should not just be money motivated but to add value which is one of my reasons anyway. But I need to look at ££ side too because I ll be bringing a new wife with me and she has to eat.
As it stands I have 3 interviews with banks back home. Rand Merchant Bank, Renaisance Capital (russian Bank) & the investment arm of world bank.
Thanks a lot for input and god bless, hopefully I will return the favour next time u need help.
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gentleme (m)
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@chiks-cfa2
i kind of agree with ty2001 about the pay for a person with your level of Xprience but aside from being home sick don't u think the world bank prospect is better?
Secondly i want to pursue a career in finance myself, so please can u shed more light on CFA. a lot of people seem to think it's Xtra difficult. please share your Xprience so far. thanks
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chiks-cfa2
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gentleme,
To be honest with u, i believe there is no such thing as too difficult. If u want somethin bad enough, u ll find a way. Its abit like living or fighting for your family.
The thing with the CFA, try to undastand the concepts first by reading through the main material, if u have a background in accounting or finance or maths like myself it is abit easier. also make sure u do lots of pratice questions a month before the exam. The CFA now offer mock exams I suggest u try them a month before the real thing.
MY trick was that I used a combination of the CFA core study material they provide for areas like ethics & economics and I use a study guide called schweser for areas like financial statement analysis (which is accounting ), fixed income (bonds) and equity valuation.
I will b happy to provide links if need for this study guide and also more light on how I have so far successfully tackled the exam if u want.
Lastly make your highly motivated, sometimes studying and working depresses people it even gets to me sometimes but I jus thing of what it will do for me at the end of career, thats what keeps me going.
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greatobie
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chiks-cfa2,
Really interested in investment banking and think i need some advise. cld u please send me your email addresss 4 some consultation. mine's greatobie@yahoo.com
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chiks-cfa2
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greatobie
u ll have to tell what your background is first. For example, what u studied at school, what u done so far so its easier for me to give u direction.
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bigtop
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Chiks-cfa,
Hi, am quite impressed with you, i work as a fixed income securities dealer in one of the major banks in Nigeria and currently rounding up my MBA with one of the top 5 business schools in UK. I will start my CFA level in Dec08.
I hope to stay in Uk and work for 1 yr 'cus of experience and return home. Do u think this is a good idea?
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ukgold (m)
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chiks-cf2, thankz for your post and i will be glad to get your advise, I studied Accounting and hope to pursue an MBA in fixed asset mgt or fund management. I intend writing my ICAN PEII this Nov.08 and hopefully write the CIS (chartered institute of stockbrokers Nig) but a friend advise that CFA is better and well recognise. plz could u trow more light n how much does it take to write the exams here in Nigeria.thankz
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