crito: please does any one has info of how much arm investment managers pay corpers in lagos. my brother intends to serve with the coy in batch B, 2007.
Thanks & hoping to get ur response. .

bookface: Thanks for this Tanimola22. Do you have some information about what someone with 3 years experience as an Equity Analyst in a mid size boutique from the US, may expect in this sort of place? i.e in terms of available roles, compensation and the general hiring policies?

Compensation is far from what is obtainable in NY. A third year equity analyst at a mid-level boutique in NY can comfortably bring home a yearly total pay of $80k and above. However, that same person can hardly command up to NGN8M ($54K)at ARM. No doubt, compensation at ARM is really good by naija standards, but definitely not what an equity analyst based in Manhattan would term stellar.

Nigeria's equity market is really doing well at the moment, people are making millions by the day, capital gains are heading towards two digit figures week-on-week, even foreign based firms are increasingly increasing their positions in African equities, both for diversification and total expected return purposes..Imagine someone entering the market just 3 weeks ago with $20K and exiting with a return on invested capital of $9K, thereby growing his capital to $29K from $20K in less than 1 month.. And this occurred in the same Nigeria where people say there are no investment opportunities

violent:

Hi Tanimola,

Does this 8million normally include Bonuses or just base pay? From what i have heard, i'm not sure where, Private Equity firms in Nigeria tend to pay much more than this figure and if I'm not mistaken, Arm Investment Managers do have a huge Private Equity group that compares with the likes of AFC, No?

tanimola22:

Yeah, base pay is less; the figure includes bonuses, but the bonuses can be much higher, depending on how well the analyst performs in the year under review.

PE shops pay well in Nigeria, especially if one is poached from a BB abroad. Yes, ARM has a private equity group which is good to those who are lucky to be there. But the group is not known to recruit heavily, unlike the firm's securities management group.

I agree that the financial climate has been good towards equities. One should enjoy some mad, quick returns before things begin to head southwards.

T22

violent:

Na wa oh for pay structure in Naija . 8 million is like 32k pounds na? O'boy!!! and that includes Bonus? O'boy! Third year analysts? O'boy!

As for your last bit, well, there's a certain speak around here; Bulls they say, make money, Bears also make money, but it is the destiny of pigs to go to slaughter.

North or South, my friend, home is home 8

tanimola22:

Violent, you make me laugh real hard..That 32K Pounds you computed, many 8th year analysts in Nigeria will kill to earn it..There are many 4th year analysts earning a total compensation of 2.5 Million per year. Many of them even believe that they are very well paid. When I came to Nigeria in July, I was privileged to be on the panel that interviewed some people looking to break into one of the boutiques in Nigeria. I was shocked when a guy, who has been working for 3 years for a slightly reputable investment firm in Ikoyi, was asked his total compensation and he responded saying 1.9 Million/year..hahaha. That is less than 10K Pounds per year.

Anyway, analysts should normally not expect to earn the standard investment analyst pay in Nigeria. If they did, they would be shocked!




Hi sir, am really sorry for the late in response; it was due some reasons. I sent u a mail yesterday have you checked it?


T22

tanimola22:

Violent, you make me laugh real hard..That 32K Pounds you computed, many 8th year analysts in Nigeria will kill to earn it..There are many 4th year analysts earning a total compensation of 2.5 Million per year. Many of them even believe that they are very well paid. When I came to Nigeria in July, I was privileged to be on the panel that interviewed some people looking to break into one of the boutiques in Nigeria. I was shocked when a guy, who has been working for 3 years for a slightly reputable investment firm in Ikoyi, was asked his total compensation and he responded saying 1.9 Million/year..hahaha. That is less than 10K Pounds per year.

Anyway, analysts should normally not expect to earn the standard investment analyst pay in Nigeria. If they did, they would be shocked!

T22

tanimola22:

Violent, you make me laugh real hard..That 32K Pounds you computed, many 8th year analysts in Nigeria will kill to earn it..There are many 4th year analysts earning a total compensation of 2.5 Million per year. Many of them even believe that they are very well paid. When I came to Nigeria in July, I was privileged to be on the panel that interviewed some people looking to break into one of the boutiques in Nigeria. I was shocked when a guy, who has been working for 3 years for a slightly reputable investment firm in Ikoyi, was asked his total compensation and he responded saying 1.9 Million/year..hahaha. That is less than 10K Pounds per year.

Anyway, analysts should normally not expect to earn the standard investment analyst pay in Nigeria. If they did, they would be shocked!

T22

tanimola22: Corpers at ARM are considered as interns and earn anything below NGN120k/month. The salary may be near the 120k mark, or even more, depending on whether the corpers are a JJC in the field of investments or whether they already did something similar in the past and therefore can contribute to the firm, even as corpers.

First year analysts at ARM earn a wage of NGN3.6 Million/year. The company has a bias for recruiting advanced degree holders, with little or no previous finance/investment experience, as first year analysts. The best time to apply for analyst jobs is between December-March. In so doing, you stand a good chance of being invited for chats, assessments and technical interviews.

Finally, information available to me has it that the firm has lost a number of its analysts to other companies or to M7 business schools in the US. You would therefore not be wrong if you guessed that the firm might be looking to hire fresh analysts.

In any case, the firm is good and is one of the decent investment houses to work for in Lagos. AUM is NGN300 Billion; this is commendable by Nigerian standards.

T22

Oziy: You guys seem vast and knowledgable in this, kudos!
I, on the other hand, am a complete novice in investmant banking (I read Chemical Engineering) but I got invited for an interview by ARM investment managers this Saturday. Is there any hope for me, any advice, suggestions? Thank you.