₦airaland Forum

Jarus:
Let me attempt to analyse some of these instituions based on what I know about them.

VETIVA
I had a brief stint there in 2007, pre-NYSC and till today I'm still a friend of the company. They are a very nice set of people. I met their MD in my present company(both of us were waiting for the elevator) and he easily recognized me. I have also met their company secretary and other top notch recently, after leaving the company. We still relate. I still use one of them as my referee even till now.
Vetiva is a well-paying organization, but you'll work your ass off. By 5pm, the day is just starting, if you get what I mean!
You will be trained on the job. I joined them just weeks after finishing university, and that was my first work experience.
They maintain a small staff strenght of about 25 staff, 20% of which are either NYSC or Pre-NYSC. They don't take just any corper, you write their standard test and interview, and they give you the job and pay you 50k monthly plus free lunch, with the intention of using your service year to assess your capability. If you perform well, they will staff you, and welcome to money! The common route for employing fresh graduates in the company is through this pre-NYSC and NYSC arrangement, but some people have criticized this as cheap labour(you work for more than one year, earning just 50K). Sometimes though, they hire fresh graduates that had served elsewhere.
But in any case, as a permanent staff, entry level, your monthly take-home is in the region of 200K. But where the bulk of your income will come is from the profit sharing and other bonus schemes. Being a company with small staff strenght, but huge profits, an entry level may receive up to a million, if not more, as share of profit.
Another thing mention-worthy is that they hold their annual retreat abroad every year and all staff, including corpers, go.
Also, if you are in corporate finance, you will have the opportunity of meeting who-is-who in corporate Nigeria through the various meetings you hold with them. In my brief stay there, I had the rare priviledge of meeting and interacting with CEOs and EDs I see on newspapers.
All in all, Vetiva is a very good company pay- and exposure-wise, but if you are the weak type that easily fall sick, then please don't go near.

IBTC Asset Mgt:
I wrote the tests and interviews of IBTC and Vetiva around the same time(Dec 2006) and I landed offer from both,and asked to resume same day (Jan 3, 2007). But for some personal reasons,I chose Vetiva. My brother, who we live under the same roof, is the MD of IBTC Asset Mgt(IAML), and I didn't want us to be in same company.
I will not say much about IAML but it's a very good company. The pay for pre-NYSC and NYSC during that time was 60k and 106k respectively, but I learnt they have slashed it to 30K now. Like, Vetiva, they recruit you standardly, not just any posting from camp. You write test and interviews like normal entry level recruitment, and after service you will be staffed but their take-home, for entry level, is not as high as that of Vetiva, but they have avery good training culture. Unlike Vetiva, they have a more standard promotion structure.some of my friends also had brief stints there before moving to P&G and Shell, and a couple are still there.

BGL
One of my closest friends worked briefly with them before moving to Glo and later GTB. Pitiably, he didn't say good about them. They are not that structured and pay package is somehow arbitrary. You will see somebody of your level earning higher than you and there will be no clear explanation for the differential. They however have the brand as a force to reckon with in Nigeria's investment banking system.

MERRISTEM
This is another coy I know quite much about. The whole of their research dept was once dominated by my friends in Ife Economics and Accounting. The current head of their research was my tutorial teacher in Ife(two years my senior, TKB's classmate) and still very close to me. One of his subordinates was my class mate and another my immediate junior. And a number of my friends were there briefly in 2007/2008.
To go straight to the point, as a corper or Pre-NYSC staff, you collect 50K per month, after being staffed or recruited fresh as an entry level you collect around 166K per month take-home. This was as at mid-last year. I'm not sure of what goes on there now.
All in all, Merristem is another company with great prospect. If you join them and stay,you can easily rise as they expand.
Their MD is also a family friend.

GREENWICH
One of my close classmates work here but I don't know mucha bout them

AFRIBANK CAPITAL
I have a friend here too, but I don't know much about them. But I have a feeling taht their pay is OK.

ZENITH CAPITAL
I don't have exact figures about their packages, but for somebody to move from Vetiva, despite their pay, to Zenith Capital makes me suspect there are some goodies there too. A former colleague of mine in Vetiva, with masters from Cambridge, did that.

PS: This is just a well-intended sharing of job information. No intention of bad-mouthing any organization, just as any figure quoted here is not authoritative.

Nice one here Jarus, you know the saying that once an 'analyst', always one! you called to bear here, your previous job skills of analysis.But i have some comments and dissenting views, though a 'soon to be' entrant into that sector,i have some info from close associates in the sector, boys that we ate beans together in U.I,staying back in schl during the long sessional vacation and cracking ICAN papers,i was the youngest amongst them and many of them graduated b4 me and now fixed in these places,so pretty know some of these places,though not all o.
My comments include:
1-fine,in 2007- early '08, most of these investment banking institutions were doing great,most esp the consolidatn period, but do you still think they re maintaining that standard in this economic crises and which amongst them can we vote to still be floating well, too bad most of them are not public companies,we could have gotten an EPS and CAPM analysis of their share and capital&riskiness status.

2-As regards your comment on entry into that sector,you never mentioned the traditional skills set and necessary grad qualification to penetrate the sector at entry level(most think u have to get a CFA, MBA b4 u can get in but i disagree, PASSION is it and a good numerical discipline degree/qualificatn!!).And dont u think things are a little tight now with the events in the economy.Also considering that most of their recruitment offers are not publicized like that, for me i ve not seen any in the papers or online.

3-I was reading somewhere on NL where TKB was replying to a guy as regards the 'sweetness' of the operational aspect of inv. banking which he refers to as the 'real thing' as against the marketing side, are there different qualificatns to achieve these. Good to know that u know TKB, u guys finished from Ife,hmmmm, no comment.

4-Am intending that to a large extent,professionals in investment banking on the forum shd demystify the clouds surrounding the profession and help guys having passion for it to develop a career in this path and have adequate info to make an informed decision. this Jarus u have started and u cant imagine thousands that ur info and will help out.

5-from info that i have gathered, Vetiva, Greenwich trust, and CSL stockbrkers, BGL are doing great as regards performance indicators against some industry benchmarks. As regards remuneratn of entry level, i concur with your assertions, as the average pay is around 180k-200k.

I rest my case for now,when i get more info,i will shoot again.
But one thing, guys lets come and share knowledge and lets become more informed. Dont read the thread alone,make the move to type in what you know.Peace.

My opinion: top 10 invst banks in nigeria

1-Grennwich trust ltd
2-bgl securities ltd
3-Chapel Hill Denham
4-FSDH
5-Vetiva capital mgt ltd
6-CSL stockbrokers
7-WSTC financial services
8-Stanbic IBTC asset mgt
9-Capital Bancorp ltd
10-Meristem securities

Hi guys,

The public attention has been on the commercial banks since the inception of the global meltdown regarding the economic health status of Nigeria,but come to think of it, the investment banking institutions (ie issuing houses,stockbrokers,market makers,asset management boutiques,merchant bankers etc)do most of the background capital dealings,on behalf of most of these commercial banks in the capital market.Just wondering if we can get concrete insider info as regards how they are faring in these times and the 10 best of them in terms of:
-corporate share capital base.
-human capital strenghts.
-deals engaged in currently.
-other parameters.

As an aside,what is the list of the 5 best paying of these investment banking companies for an associate level(fresh graduate recruitee) and the figure for the grade? Please be specific.

NB-pls, this is a serious thread for serious minded NLanders and finance professionals having the requisite info,plssss resist the urge to type if u dont have anything impacting to share,thank you.

SPECIAL INVITATION:pls by all means,all members of WELCOME TO MY OFFICE thread are invited to contribute-TBK417,Jarus,Ajalankoko,and co.

Lets get the ball rolling!!!

Hey,
how is it rolling on each y'all's end? God is control.
for all our peeps enjoying  a well deserved leave break, enjoy urselves maximally! cant say am envious of you,hope i get something similar soon.
@jericho
senior colleague jericho, welcome back in2 d house, was wondering how the draftings,document perfections and client conferencings could have kept u out of the show that long.welcome.
@tollu.
this long waiting is killing me slowly, any gist? but am prayin on, all the same. God dey.
@topic
nothing interesting for now,just same routine.

Where is TKB? bros, oi neva see ur mail o! anyhow, i guess it's loads of work.

@TKB
thanks gee,pls we can IM on teecannrecruiting@yahoo.com temporarily, so that i can get ur mobile and email addy from there, like that,we can shoot and who knows, we may share 1 or 2 ideas beyond d agenda,u can neva tell. thanks tho

Hey y'all!

How every? and life in our go-slow system.

@tbk417
bro,longest time, no hear, pls i nid to av an off-forum small time with u for some candid advice, just joined a fin services relevant prof exam wagon,still in d spirit of aligning well for that route, just some ques and il be as clear as air.How work? dont worry,sack no dey for ur portfolio, that na why u no go fit get any anticipated returns(quick escape 4 mba) and God will remove one of its inherent risks[/b]frm u 4 now(variance/sd??)-N0 pay pepper!! lol. sure say u understd!

[b]@tollu
Cant wait to demask u in d trainning school, that face behind the NL veil! lol
May God ractify our supplications.pls kip me posted as our blessing of the year unfolds- toni.cann@gmail.com(whenever i get a mail from you tru this addy,il send u a reply thru my personal email)so that we can kip d info flowing. thkx gee.

@topic
God dey,i'm good,, nobody go kill john bull for im mama! just within 7 months, av known surrounding towns where someone who has been stayin in Abk for yrs havent visited, God dey!,i just pray that all these runz will soon be bringin in d solid peeeeeeee,

luvola:
hey t-cann, wht do u take bsc accounting for, I WANNA LET U KNOW THAT ICAN EXAM IS AS EASY AS ABC, AM NOT AN ICAN STUDENT YET BUT THE EXAM IS EASY NOW, AM CURRENTLY A 200L ACCOUNTING STUDENT OF LASU, U CANT COMPARE WHT WE UNDERGRADUATE ARE GOING THRU IN SCH TO ICAN, MANAGEMENT ACCOUNTING IS THE MOST EASIEST ACCOUNTING COURSES,

i dont really have much comment to make for now, when i av more time online,il shed light on some areas u re failing to see,but for now i adopt CBT online's comment,think about it!

T-cann
Sounds like we have a prospective employer in common. Nobody said anything abt being impressed abt me sha o. lol
All the best with that


@TOLLU
Most likely!! i wouldnt want to doubt u, since i gave enuf clues for a smart person as you to decipher fairly well. never mind the omission of their comment,God's comment matters d most, and we re successful prima facie i pray for d best for us(amen), as we wait.

what can i say?
may God follow u into d exams halls and grant u memory speed and good recollections.
you av gone thru alot: studied hard and recorded several sleepless nights, all that will be crowned by God.
As someone who was once in this stage of life and currently helping others prepare for same, i can only pray for u
Ican exams are more than ur preps, it is a test of mental stamina and long term determination and stubborness to achieve the golden ACA fleece.
In the exam hall, like a senior chartered acctant friend of mine told me when i was writing my PE 2-''wheneva u read a ques that looks like what u havent come across B4(even when u av extensively trashed that topic) in all ur months of preparatn,GIVE THEM ALL KNOWN ANSWERS AND IN ADDITION, ALL ANSWERS CREATIVELY PERCIEVED BY U TO BE RELEVANT TO THE QUES AT HAND, THERE SHD NOT BE 'A NO-IDEA' SITUATION FOR U''.that's is why it is ICAN.
It is well with you all!!

@MAXTOP
U may never have a tip of the feelings and psychological conditions these guys re presently, i dont blame you, u think say na ur Bsc wey u get by reading for it with biscuit and coke, in the comfort of ur sittting room? go and ask 1st class degree holders in accounting that av tasted ICAN and let me know the report of their comparism .

Hey good people,
wadups? d house is dry, work,work, work, i guess.
May God help all man,
am out for now sha.

hello everybdi,
How is life and work?
As an aside, does any house mate residing in nigeria feel this slowness in the polity?can also feel it that the country is paused,at least,with baba,no week passes by without one having sensational scandals keepin us on the edge and leaving one desiring more, court of public opinion was rife and active, ok,sorry just my thots.

@Everybodi
Thank u too for acknowledging my post, kinda inductn 2 d house-lol, Hope to keep up wit d thread.

@Cristalz
Thanks bro, by all means,ask whateva u need to know about the legal sys in nigeria as it relates to any area-finance,real estate,politics,etc.woteva cant b fully trashed out will be contributed to by my other[b] learned colleagues [/b] in the house and in NL at large.u re welcome always.

@tOPIC
Got this mag crt hearing by month end that am working on presently,criminal in nature,prosecution is opening their case-i.e the beginning of trial. series of preps to do.

Got interviewed by the big bank of naija yestaday and after d last round btw me and a panel of 4 interviewers, i was actually told by 2 of em that they re impressed with my current affairs knowledge base and my trainnings,but am scared,u know u can neva fully trust these nigerian interviewers, they cld tell u somthg and u see totally diff results.but i guess yours sincerely tried in my attempt. anyway God dey!!

Hope to be in soon again!!, lotta luv to every1,am out.

@JERICHO

learned colleague,
Good one u are puttin up here.

hey forum people,
ok, its like it's bad of me not to contribute here,instead of reading religiously other people's post all d time.Am a lawyer, like i said in my earlier post and am with an NGO temporary 4 now,also i part time with a law firm,temp too,b4 moboi moves on(i also do 'pp'-woteva u understd that to mean-lol).
In all of NL,(as I read around that much) i av not till date found a better coordinated and matured thread than-"WELCOME TO MY OFFICE",couldnt av happened but for the intelligence&maturity of everybodi here-like tollu, diggler,AjanleKoko,Cristalz,MrCrackles,tkb417,WORLDZ,Jericho,LAWYER and scores of other brillant world class professionals from diff. fields.
@JERICHO
ur new free legal advisory thread attest to the leaps being recorded by people from this area of NL.We at "WELCOME TO MY OFFICE" are proud of u. If u need a helping hand, when the load gets heavy,am available to u.
@TKB417
thanks broz, tho i av not seen ur email in my inbox yet. thanks for the advice.
@WORLDZ
Where hath thou?
@TOPIC
am off to the court to see the registrar as regards the rejectn of one of my client's sureties. they said he didnt meet the conditions.
Peeeps,do av a luvly day!
senior (LAWYER),pls come back into the house,we want a here!!, lets make an intergrated professional forum.these bankers and fin. analysts shdnt outnumber us. ^{(at least b4 i cross carpet})

worldz:
Hi everyone,

Am kind of inspired with this thread espcially with d kind of people in it who are mostly professionals in their fields.

I wd like some mentoring espcially frm pple like TKB and d rest. Ve always wanted 2 launch a career in the Financial/Investmnt Mgt field, am presently doing my IT in a bank and currently writing PE3 of ICAN after which i intend doing CIS(Chrtd Inst. of Stockbrokers).

I hope 2 go back to sch afterwards to complete my studies, but am afraid dat i might not beat d age limit i.e 26/27 for entry levels in the job market.

I currently need advice from everyone on dis thread, on whether my fears will b put 2 rest with d professional exams am writing and a good grade @ school as backup? Or do employers strictly look at those age limits? thanks.

with serious interest for months now, i 've been following posts here esp, those relating to persons engaged in the career path which i wish to launch into soon with hope of picking up one or two things from them,say mor like am their unknown protege.Persons like TKB417 and other bros in the investment mgt field.
I am a lawyer, a chartered accountant and currently a PE2 candidate of CIS(also a candidate of the investment compliance diploma of SII, london). I major in Investment&securities law and coupled with my trainings in finance,i 've always dreamt of having a career in investment mgt since my university days,it's wot am passionate about!!

@WORLDZ
I am replying to this thread cos i can associate with your dream and passion and by God's grace, we will hit it. Age will soon not be a major issue by the time you 're thru with CIS plus your ICAN, trust me,just comb the net and see for yourself age brackets of positions like Inv. analysts and stkbrokers(btw 28-35).try to reach me with the email below,its temporary and il give u my personal email when i get ur mail.

@TKB417
Broz,i hail o, i know u are an extremely busy person,considering the nature of the job,i'd love it if u can chip in 1 or 2 things here and maybe for some other hints,arrangements can be made for IM-ing. Also please help me send ur email addy into my office email- [teecannrecruiting@yahoo.com].thank you.

@Others
I hail o! its a nice stuff going on here, with this humble beginnings, soon professionals by categories will start things big like mentoring and pro bono advisory tips services to help scores of naija youths hoping to amke headway with their lives and fulfil destiny.

Pls if you have something to chip in on the points that i have raised, by all means, contribute. Thank you.

@dupsyl,

I appreciate ur drive to build a career along HRM line,am equally interested in doing what you ve embarked on,i mean the CIPM exams,I am a 2008 theatre Arts graduate and I happen to love HR more than acting thus I want to write CIPM exams and possibly do an MBA later but i need to evaluate what I'm about entering into,i mean checking out the syllabus and knowing whether I can get a tuition house to prep 4 d exams,things like that.pls if u or anybody in this forum can send to me a soft copy of the syllabus,i'l really love it.my email is [toni.cann@gmail.com] AND again i think it will be nice if we can maintain this tread to help ourselves thru the rigour of our career growth,thanks.

Cant believe I could be drawn into this 'oau is better,u.i is d best' argument! it has always been and 4eva will it be, but i just av to drop a few lines inspite of myself.my lines are to inform the distinguished house on lastest info that seem so obviously lacking in the assessment of commentators.As a product U.I,the rule is dat am not accorded an audience on d issue,but really,it laughable when people seem to have a very thin info about lastest happenings in that ivory tower,u hear such things about old profs,dilapitated structures cos going by their deductions,since U.I is 60 thereabout,it shd have dotting acoss its landscape,almost collapsing buildings.ok lets set the records straight herethis info is as at july 2008)

-itc infracture is fully operational in d shl,just like oau,hotspot facility,for staff and students alike,3 ict resource centres(cybercentres) with about 50 systems a piece in each.
-hostel facilities fully functional,i mean shower running almost thruout the day on topmost floor,flushing toilets,lights,renovated structures every session ending.
-depts having a minimum of 3 world renowed profs(confirm it by googling for example, profs of economics from university of ibadan)
-superb road network(starting from d oduduwa road all d way 2the mainbowl behind awo hall) and neat green environment.if u happen to be in ibadan,spare time to take a drive through d campus.
-ongoing research in several depts in collabo with top institutes in d world.
-lib(deptal lib with internet facilities and PCs)
-mgt/shl population relations as in for everything that happen weekly in the uni,the shl publish bulletines to that effect(its been on b4 i entered UI and its still on till now)
-responsive 24 hr security service(ask any UI person about 'ABEFELE',u'll get to know more about what am saying)
-on academic standards,u cant patch it along in UI,is either u float or flow out of the system(ask again about the sessional 'TSUNAMI BOOKLET).with due respect to those that did their secondary shl in lag,am using them as an example here cos they re the worst hit yearly:they think UI is like O, , where u can get anything done,so they end up socialising their 1st yr away,and UI show them d way out.Also u CANT RUNZ anything on admission in UI to a large extent,little can your uncle Prof do to help u enter,I for one,and so many of my colleagues,recieve our admission letter right on our doorpost at home.

The problem with most people is that they have limited infomation about the school,partially because they didnt have any cause to visit d shl(admission criteria is stiff b4 i got admitted in 2000,& its still is) so admission that would have made them visit the shl in d 1st instance,is stacked in d odds against them,to make d matter worse,U.I students and grads will typically not defend the shl,WHY-res ipsa loquitor:the thing speaks for itself,they will tell u,it's no use,facts are facts about the shl any day.I bet, many UI students&grads are reading along the proceedings,but they wont shout,as oau pple would typically.
I rest my case
with luv, LL.B(U.I) Nig Law Shl,Abuja.