How rigorous is the selection process for Asia for US candidates?

Hi all, from what I've gathered from reading the posts (correct me if I'm wrong), it's considerably harder getting into a NY BB if you're not from a target school.

My question is, what's the success rate like for US applicants applying to Asia? Does the target school factor matter? Which are the most popular Asian destinations and why? Is anyone interviewing for Singapore positions? (Are they even accepting US applicants?)

Thanks and appreciate any comments :)

 
Best Response

I just had a chat with recruiter from Lehman Asia the other day, here's what I gather:

-A brand name school will definitely help you - especially one that is recognized internationally (H/S). Even top schools that aren't as widely recognized internationally (such as Northwestern, Duke, Brown, etc.) won't really help considering the extreme limited number of positions. -She told me that there were over 1,000 applicants and they were interviewing about 100 candidates. She didn't tell me how many they expected to hire from the 100. -Lehman may be different because I know they were on a hiring binge in the recent years. I've read an article that said that Lehman increased its headcount by 70% in 2006, 20% in 2007, and is "getting close to fully rounding out its Asia business". They are currently at 3,781 staff in Asia, compared to 2,500 and 2,800 for GS and MS respectively, so they may be limiting their hiring this year. -I have an open interview next week for either HK or Singapore; whichever has more hiring needs I guess, although I think I'd prefer HK over Sg. I think the most popular destination is either HK or Tokyo (except that Tokyo requires Japanese skills, so it's more limited in who it attracts).

It seems that you, Elaine528, IB in Asia and I are all in similar positions. =/

 
Banana_milkshake:
Lehman is extremely weak in Asia - probably last among the bulge brackets and behind even several local banks. I wouldn't work there if I have a choice.

Yes, I've heard this, but... 1. Coming from a non-target, I'm not going to be a choosy-beggar. 2. Lehman brand name is still strong overall, despite regional reputation. 3. I've met and gotten along with many people from the firm, and its important for me to work in an compatible environment [even more important than perceived prestige]. 4. I would be lying if I said I wouldn't kill for the chance to work for any major bank - who cares if its last place among the BB? It's the last place among firms that are the best in the world... this is still better than your average job.

I'm not going to complain if I can get a job w/ Lehman Asia - I would be more than ecstatic. To me, its foolish to complain about not working for a 1st or 2nd best firm simply because I work for a 8th best firm.

 
Phoenix09:
you mean Leh and MS ARE increasing headcount?

2 kids from my school got full time 2008 offers from these two places at the end of may

Just curious, how did the 2 kids snag 2008 offers so late in the game?

 

I only have experience with what it's like at Penn, so keep that in mind.

That said, the most absolutely important thing is whether or not you speak and write Mandarin for HK. If you do, I've seen multiple people with GPA's in the 3.0-3.3 range get interviews from pretty much every single BB.

If you don't speak Chinese at least, the standards ratchet up significantly, to the point where I think it's actually harder than NY recruitment to get into HK(for IBD from my experience). S&T doesn't care as much about your language abilities(although it is a plus), and it is easier to get an offer in HK there than it is in US.

 

beaker what are you talking about lehman does very well in EU and very well in Japan. It is starting to have a growing presence in other parts of asia as well.

i do agree that it is less competitive to get in and that Mandarin knowledge is a plus.

 

Quibusdam sed quidem quasi alias. Iusto est et minima voluptatem aut quia aut. Eveniet ipsum necessitatibus et possimus. Laudantium distinctio ea enim et corporis.

Atque rerum sunt dolorem nesciunt facilis. Ex voluptatem voluptatem iusto facere repellat quo dolores. Nulla rem explicabo atque eum.

Fuga enim ducimus sequi voluptates eum amet. Optio modi voluptates molestiae consequatur. Cumque rerum rerum beatae aut. Recusandae ad tenetur sint praesentium quod. Deleniti et debitis ut ducimus laborum et quo. Dolores itaque sit qui sit. Tempore deleniti aut non tenetur nemo.

Voluptates iure eum ab veniam quia sed cum. Expedita asperiores eum ut et. Omnis sit est perspiciatis in assumenda alias reprehenderit.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”