Thanks for the comment tkb,but I have some questions,

1.Given that I would be available to start work from the begining of september,when do u think would be the best time for someone to drop my CV with these companies in order to be called for test in september?

2.Do the investment banks have a specific period when they employ people at entry level?

3.Can u plz list the names of some of the oil and gas firms u where refering to(as I have applied to exxon mobil and shell without luck)?

Thanks.

Hmmm, investment bankers, still talking big! Tread carefully. Very carefully o, Does anyone really know how well these 9ja investment banks are doing? Weren't many of them exposed to the banks in the West? If the Lehmans and the Bear Stearns (public companies) could decieve us into thinking all was well, how do we know for sure whats up with the Naij inv. banks (private companies). I'm hearing its not all rosy as the threads seem to be suggesting. Be very careful o,
To the chap who says all their friends are looking to head back to the banks in Naij. When did you last speak to them? Give them a call today, and you'll hear a somewhat different story. The banks simply are not able to pay the astronomical salaries they were paying barely a year ago. As a matter of fact a number of them are laying staff off!
, and to tbk417, you dis guy!!!! 'bonus of 100% of your salary'. In which world? in 2009? The bank from the cold country (as you put it)? Be serious please! I've done work with u guys in the past. Now though, you guys are pulling out of deals simply cos there just aint no dough to blow,
As an investment banker you should be careful about making such arrogant comments (even if inadvertently). The world has a very negative perceptions about IBs and their extravegances. Dont prove them to be wholly right!

^^^^ Be careful comparing Naija IBs to the ones in the West.

Naija IBs do most of the stuff West IBs do except the subprime and most of the derivatives (I think Naija's market is essentially Vanilla).

It was the sub-prime and derivatives that brought the West IBs down.

Agreed Sagamite, but i'm i'm talking cause and effects here. We know the cause of the problems in the west, but have we seen the full effects wrt Naija IBs? These Nija IBs had lots of exposure to the western banks, or so i understand. The liquidity crisis in the west would therefore surely affect and have indeed affected the 9ja banks.
I'm now sounding like a doom monger,

Sagamite:

^^^^ Be careful comparing Naija IBs to the ones in the West.

Naija IBs do most of the stuff West IBs do except the subprime and most of the derivatives (I think Naija's market is essentially Vanilla).

It was the sub-prime and derivatives that brought the West IBs down.

nice one

such an educating thread.
my appreciation goes to each and every contributor on this thread.
in the midst of all the mundane stuff we read and contribute to on this forum, it is refreshing to be a part of such  an enlightening topic.

some points;
i hope TBK and co will address the pessimism of Azigiza? a pessimism which i share a bit of.
on the issue of IBTC-Stanbic, it is so obvious that they are one back that the 25mil cap did more harm than good to.
from a strategic hindsight view (every one has a degree in hindsight, i even have a PH.D in it!!), the universal banking thing has horribly diluted the IBTC brand.from my little interactions at a there branches late last year, i even feel that their organisational culture has been affected.
maybe a better idea would have been keeping the two commercial banks they acquired as a subsidiary of IBTC, while the parent body remains in the niche market it is known for.
to go full circle, they bit the bullet called standard bank (stanbic) believing that it will give them the financial muscle to battle the commercial bank giants on thier own turf.the problem is that battling those guys takes more than money.will IBTC-stanbic be willing to do some of the things those guys are doing to maintain their position?stanbic will frown at some of the practices (but they are what bring results here) and IBTC is not even used to such in the past.so you begin to wonder
anyway, i believe that intelligent and experienced pros like Atedo Peterside and the lady that is their DMD are too smart not to have an ace up their sleeve.

dont get, there only 24 charterholders in naija? tot they would have been more

yep. Its actually 26 charterholders with about 38 members

deprofy:

tkb,

kindly help on this, how many stages does CFA has and what is the duration of the program with the fees.

thank you.

3 stages.
you can read up on the Institute and the fees on their site

mbulela:

. some points;
i hope TBK and co will address the pessimism of Azigiza? a pessimism which i share a bit of.

just about leaving office now when i read the posts for today, i hopefully suppose to put in a rejoinder when i get home.Till then, this is just superbly excellent, i mean all yr posts 2day!!

zander87:

Thanks for the comment tkb,but I have some questions,

1.Given that I would be available to start work from the begining of september,when do u think would be the best time for someone to drop my CV with these companies in order to be called for test in september?

2.Do the investment banks have a specific period when they employ people at entry level?

3.Can u plz list the names of some of the oil and gas firms u where refering to(as I have applied to exxon mobil and shell without luck)?

Thanks.

you can send ur CVs anytime you want. You havent completed ur grad studies so i guess you dont have to entertain any fear.
complete ur studies, send ur CVs and be expectant

I dont work in an Oil and Gas coy. Jarus should be able to help with that

Azigiza:

Hmmm, investment bankers, still talking big! Tread carefully. Very carefully o, Does anyone really know how well these 9ja investment banks are doing? Weren't many of them exposed to the banks in the West? If the Lehmans and the Bear Stearns (public companies) could decieve us into thinking all was well, how do we know for sure whats up with the Naij inv. banks (private companies). I'm hearing its not all rosy as the threads seem to be suggesting. Be very careful o,
To the chap who says all their friends are looking to head back to the banks in Naij. When did you last speak to them? Give them a call today, and you'll hear a somewhat different story. The banks simply are not able to pay the astronomical salaries they were paying barely a year ago. As a matter of fact a number of them are laying staff off!
, and to tbk417, you dis guy!!!! 'bonus of 100% of your salary'. In which world? in 2009? The bank from the cold country (as you put it)? Be serious please! I've done work with u guys in the past. Now though, you guys are pulling out of deals simply cos there just aint no dough to blow,
As an investment banker you should be careful about making such arrogant comments (even if inadvertently). The world has a very negative perceptions about IBs and their extravegances. Dont prove them to be wholly right!

first thing first

I dont have anything to say about ur comment on Investment Bankers talking big, are you saying Oil workers arent talking big cos of the crash in oil prices?

as for my friends in diaspora. I really do not know how to answer you but ill give you a piece
Whatever you see happening in Nigeria is happening globally. The investment banking terrain in Nigeria may not be as rosy as we had like 18 months back but its not all sad tales.

we have a system that cant be isolated from the recent happenings globally and i dont see any reason why we shld run beserk or start mourning. Most of the Investment banking outfits that really got shocked in 9ja were as a result of their exposure to the 9ja capital market basically, it wasnt really as a result of the subprime issues and the sophistication of the market( we dont run a derivative thingy here)

The investment banking terrain in 9ja isnt suffering in isolation. Commercial banking, retail banking and all sorts are on a low cos of our financial market crisis. It may interest you to know that its abating and bizniz is picking up.
as for my friends, they'll rather come back home where they know they can still bambozzle their way to getting employment than stay abroad where unemployment rate is spiralling
check the US unemployment rate today and ull know we dont have such problems here

I never said its all uhuru here and u will get that from my previous posts except ure the type that wont take time to read and understand b4 posting

sagamite in a lil way has been able to add to what i would have said.
The hardship is everywhere and it spreads across all nations and all organised private sectors
so how is INV banking different?

as par the bonus thing? ask and you shall be told
stop telling untrue tales


cheers

ehn , i didn't know that Nigeria had investment banks. Its good that naija is moving forward.

davidif:

ehn , i didn't know that Nigeria had investment banks. Its good that naija is moving forward.

haba,

Nice thread.

Really enlightening.

Basically what is the best investment window now with funds starting from N25,000 and above.

Ciao.

tkb417:

you can send ur CVs anytime you want. You havent completed ur grad studies so i guess you dont have to entertain any fear.
complete ur studies, send ur CVs and be expectant

I dont work in an Oil and Gas coy. Jarus should be able to help with that

@tbk
plz can i get ur IM so that we chat when I am abt to submit my dissertation I don't want to get myself in a fix after I complete my programme.I intended to work here for a while but the job market in the UK for a foreigner is ridiculous.If there is a good chance for me to secure a job wit an investment bank in Nigeria,I would leave here as soon as I am done.

@Jarus
Plz can u comment on the oil and gas companies at entry level for a finance role.

Thanks.

@tbk
plz can i get ur IM so that we chat when I am abt to submit my dissertation I don't want to get myself in a fix after I complete my programme.I intended to work here for a while but the job market in the UK for a foreigner is ridiculous.If there is a good chance for me to secure a job wit an investment bank in Nigeria,I would leave here as soon as I am done.

Thanks.

ok
gimme urs and ill add you.

tkb417:

ok
gimme urs and ill add you.

mine is arinze99uk@yahoo.co.uk.
Thanks for the comments I really appreciate them.

Thanks for your response.
I don’t want you to get me wrong. I as much as anyone here wants the Naij IBs (NIBs henceforth) to do well. I see no reason why they cannot become inernational powerhouses, forces to be reckoned with - certainly within Africa, if not globally just yet.
The comments re arrogance, bonus etc where non too positive, and only detracted from the benefits and encouraging nature of the thread.
The thread has proved very informative esp for those looking to break into the industry. As one who has been in the industry for over a decade (abroad), I would like to think that I could contribute positively in some way, back home. I had a number of positive conversations with a few banks back in 2006/07 (btw I never saw FCMB listed in the rankings, or did I miss it?) . It was a no brainer for me. Working at home, salary+ bonus matched!, what else could I want!!!,
And then the world was flipped on its head…, all of a sudden it wasn’t so straight forward.
Deeper questions had to be asked. Doubts began to surface, rumours floated…, There's now family and commitments that makes such decisions all the more important!

I therefore put out the following questions, and I'm sure there are many who would benefit from honest answers to these question. This is directed not only at you tbk417, but to all who have worked in the industry in Nigeria, be it with a NIB or a foreign one. Esp those who began their careers abroad.
In your experiences, what have you found are the benefits of working for an IB at home as opposed to abroad? Do you think it’s a good idea in todays environment to make the transition? In your honest and various opinions, do you thing these banks/Investment houses are solid enough to stand the test of time? What safety nets are there if things are not so rosy? (I heard when the few banks retrenched staff a few months ago, there was nothing like severance packages. Could this be true?). And a question directed more at tkb417, would you leave your bank to join one of the NIBs in today's environment?

I know that there will always be risks when making such transitions, and the decision can only be mine eventually. Nevertheless, due dilligence never does anyone any harm does it? So talk to me anyone…,

@tkb417

Thanx for ur contribution to this discuss. I also wanna particularly thank Jarus for his PURE contribution, his writings alone preveils the man behind   the intellect, an all round good guy.

I have a friend(33) in Northern Europe with masters in Applied Mathematics with bias to investment services . He did his thesis on financial Derivatives. However his only working experience to date is as a research assistant to a professor (datamining, algorithm etc) and some few years a junior staff in one of the leading banks in Nigeria. I wanna know since age is a barrier these days, what are his chances?

Note: No pressure on you just your 2 pence would do.

God Bless!!!

NobiGod:

@tkb417

Thanx for ur contribution to this discuss. I also wanna particularly thank Jarus for his PURE contribution, his writings alone preveils the man behind the intellect, an all round good guy.

I have a friend(33) in Northern Europe with masters in Applied Mathematics with bias to investment services . He did his thesis on financial Derivatives. However his only working experience to date is as a research assistant to a professor (datamining, algorithm etc) and some few years a junior staff in one of the leading banks in Nigeria. I wanna know since age is a barrier these days, what are his chances?

Note: No pressure on you just your 2 pence would do.

God Bless!!!

His he interested in moving back to naij or just general chances worldwide?
with an MSc in applied mathematics dude should just work as a derivatives analyst.
Plenty of jobs if he applies through efinancial careers, huxley et al.

Thanx Jay Bee. He's only interested in coming back home, tired of the western life.

zander87:

@Jarus
Plz can u comment on the oil and gas companies at entry level for a finance role.
Thanks.

For entry level, most oil companies, especially multi-national upstreams, have organized recruitment system and standardized recruitment process. Coming in through the backdoor is therefore very unlikely. Unlike banks and other institutions, where you can drop your CV or fill a form online anytime and get invitation for test, Multi-national oil companies don't just accept CV anytime. They have period they call for applications, and they usually advertise, although sometimes they don't advertise in newspapers. They don't take entry level outside this period/process, and it is usually annually.

Let me talk about Shell and Oando, which I know very well, having gone through the processes:

SHELL
APPLICATION PROCESS: They have a standardized graduate recruitment process, and usually annually.They don't collect CV except at the period they are recruiting. They have a universal recruitment process, that is, the same process they use to recruit in Shell Nigeria is what they use in Shell UK. When it's time they want to recruit, they place advert in papers and/or on their website and outline the procedure. It used to be 2-2 and above in any Social Sciences or finance-related course, but the latest one(that closed May 31, 2009) said 'minimum of 2-1 or 2-2 plus masters degree'. Expectedly, they receive millions of application, but by criteria only known to them, they shortlist about 500. I actually made their shortlist in 2008, passed their interviews, but due to some personal reasons , I didn't show up for their SRD(the last stage) which I was invited for in Warri, so I let go the chance. At last they took about 50 and my closest friend made it, and with them today.

[b]INTERVIEW: [/b]Shell is a merit-driven company and I respect them a lot. After shortlisting, they invite you for interview. They used to start from from test before but they've cancelled test since last year.(I'm talking about Finance pls, not engineering). At the interview, you will have the opportunity to meet a senior, sometimes retired, staff, and you will be evaluated on 3 criteria they call CAR(Capacity, Achievement and relationship skills). For techical grads, tehy have the fourth criteria called Technical ability.They don't attach much importance to paper certificates, or at best it can get you shortlisted for first stage interview, but at the interview they don't care whether you had First Class, ACA,ACCA,CIS etc. The interview will last for about 1 hour or more. Under 'capacity', they will give you a set of topics, usually relating to Shell and its business environments, and ask you to chose one, on which you will be questioned on. 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). You will then be questioned on that achievement-the challenges you faced,how you surmounted it, what you learnt from it etc. On 'relationship skills', you will be asked to state a time when you found yourself in a team, the role you played, the challenges, the lessons etc. While you are doing all these, your interviewer will be making notes, and at the end of the exercise you will be asked whether you have any question. It is better for you to have prepared in your mind the question you want to ask, and try to make it intelligible: Questions like: Sir, as an insider, what do you think is the cause of the Niger Delta unrest. Is it that MNCs are not doing enough or these boys are just greedy. I will like to know sir. Or: As a staff with Shell for more than 30 years, and now retired, what advice do you have for someone like me just hoping to join this respected company?

SRD: Two weeks or less after their interview, you will be contacted whether you are successful or not. If you are successful, you will be invited for the next and final stage called Shell Recruitment Day(SRD). This is a full day event, and usually take place in their Edjeba residence in Warri. You will be reimbursed for your flight there and given return fare(about 40K). You will be advised to fly to Warri a day before and be prepared to go back a day after the SRD, because SRD lasts 7am to 6pm. You will be given a full suite to lodge in and, a night before, there will be a dinner organized for you all where you will be given the opportunity to interact with Shell staff to narrate their experience etc. On the D-day, you will again be assessed under CAR, but here more practically. Under 'Capacity', you will be given loads of emails, documents etc bordering on an issue. You will be required to proffer solution to the issue at hand. Here, you need to be a fast thinker. You will be given time to read all the documents but the time is not usally enough to have full grasp of the issue, but your head must be working seriously. To test 'relationship skills', you will be grouped into a team about 6 or 7 candidates, and you will be asked to select somebody as group leader. You will be given a series of projects and asked to, as a team, pick one. You will hold meetings(Think of business reality shows!). You will brainstorm, work as a team and you will be given problem to solve. It entails a lot which space will not allow me to fully narrate here. While you are doing this, the observers, usually senior Shell mgt staff from recruiting depts, will be observing. At the end of the team project, there will be a 'press conference' where your observers will ask you questions on the projects, a la journalist. The objective here is to see your relationship/team skills. Hints: Be active but don't be overbearing. Chip in intelligent ideas, shake your head to approve a team mates' idea etc Under achievement, it's exactly like the first interview, and one on one, you will be asked to state an achievement in your life upon which you will be questioned.
It's a whole day activity and there will be lunch beak in-between. Very rigorous. You need to be prepared. I was invited for their SRD after passing their first interview but couldn't show up, I resumed another company that week.
After about two weeks, you will be contacted on the outcome of your SRD, whether successful or not. 2 or 3 people may be selected from a team,but they say it happens at times that they select everybody in the team if they all impress, just as they can discard everybody in a team.

MEDICALS: If you pass SRD, then Medicals follow. This is also usually very rigorous and they carry out many tests. They disqualify people here too.

PACKAGE: Shell spoils you with money. Their annual pay for entry level, is between N6.5-7m per annum.I know the exact but will not state it here. If you are posted to a place outside your primary city of residence, for example, you live in Lagos but they posted you to their PH office, they will, on resumption, pay you N1.8m as hotel fees(they expect you to stay in hotel for 3 months @ N20k per night, while you sort out your accommodation). There are other benefits like N1.3million non-deductible car grant after confirmation. Confirmation is after one year.

WORK ENVIRONMENT: Stressless. Closing is 4pm.

TRAINING: Unlike engineering recruits that usually get overseas training, you have little chances of being sent abroad for training as a Finance entry level recruit in your fisrt two years. Most of the training programmes are within Nigeria. After you have fully settled, maybe after confirmation after one year, then all those foreign trips may start coming.

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.

Jarus

This is a goldmine for those aspiring to work Oil and Gas industry. I guess my friend doesn't belong here.

call me a stalker but I have read about three of ur articles healthy for the mind.

Jarus, see as you put me for world.

Disclaimer- I have never worked in Chevron Nigeria (though I went to Ife on their scholarship)! So while I know more aout the entry level recruitment in the US, I can say little about the Naija one. Also I can only talk from a technical point of view. I am just on the way to becoming a finance guru, not there yet!
Also ,the views expressed below are mine, and do not represent the official view of Chevron or any of its affiliates

Nigeria- In order to abide by NNPC rules, the company publishes almost all vacancies for entry level in the Nigerian dailies. Applicants are shortlisted (I learnt they still accept 2-2),based on GPA ,etc. Then those who scale the aptitude test are invited for a skills test, followed by an interview session for those who are lucky to get to that point.

Salary wise, you almost cannot do better in any company else in Naija. Opportunity wise, you get the chance to go on assignments and workshops outside Nigeria, even for the finance folks,etc. You get opportunities for two-year crossfunctional posting to the US if you are identified as an hipot(high potential).

Its relaxed, very people friendly,and a great place to work in. In addition, they also recruit for Naija from US and UK colleges, and the recruitment process in this case is done through agents, campus visits,etc. IF you are being recruited for Naija , you also have to write an aptitude test even here in Hosuton.


The recruitment process for the US is totally different, but I do not need to bore anyone here with it. If you are interested, you can PM me.

Jarus, over to you!

Tanx Loma. Sori 4 d exposure. U're a gold fish dat has no hiding place.                                              I also schooled on Chevron's bill in Ife.

d

Plumber:

@Jarus>>>

Who is ur bro @ IBTC Asset mngt, O. xxxxxx or Y.xxxxx

Piece of friendly advice - Not appropriate to name names on internet forums unless you have permission to do so. It's gross violation of privacy.

wwheelz thanx. I wonder if He was just naive or playing dumb. grow up man!!!

I definitely wont name d person. But none of d 2 u mentioned, altho dose 2 are our family friends. Kindly delete names.

i can see the oil people are hijacking the thread
nice one

Loma and Jarus
awon first class people

@ jarus and t-cann,

this is the second time am asking, i really hope you guys reply,

new graduates like me dont have all the information concerning these investments banks and some other good places that we can work,

i have interviewed with kpmg and they ve kept me a waiting list and how long that is i dont know,

so please if you guys can steer us towards the right direction by giving us insiders info, it would really be appreciated.

i have already checked out some of the websites and just no luck applyin