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Seanc:
Are Indian women good looking ?

On average, no; they are not. Although the average has improved markedly since i graduated, its still not really comparable with a place like Venezuela. You do get some solid bombshells though that'll give you a stiffy in a jiffy. The good looking ones can sometimes be overly snobbish though, but all they need is someone to act even more elitist than them and they come back down to Earth.

India is a very aspirational place right now and you can get a good looking albeit shallow chick if you act like you are the money. The ones with looks and substance look for depth and are VERY touchy feely about cozying up to you before about the 51st date.

That said, as in any place the world over, sometimes you just have chemistry between hot people, and when that happens, good shit happens from the word go, provided you got the balls to handle it.

Caveat, this is my view on Indian women in India. I imagine the scene with ladies of Indian origin would (probably) be a little more liberated in the US or the UK or anywhere else. In my limited experience, that was the case.

"God takes care of old folks and fools, while the Devil takes care of makin all the rules", P.E. 1998
 

They are not actually transfering personnel to India. That would not be cutting costs. They are actually hiring Indian citizens to take over functionality of a lot of the roles within Citi. FOr example instead of having back office positions in NY for a lot of the groups, they will outsource the jobs to people in india willing to work for 1/3rd of the cost.

 

Even if BBs move, its mostly jobs of analysts that would get shifted. We're monkeys after all right.

The ones already operating in India are JPMorganChase, Morgan Stanley, Bank of America etc. Therefore only pitchbook creation, valuations, comps etc gets done here for deals outside India.

India still has frontend ops of BBs with India focused deal origination/execution.

Most of the analysts are Level 1 or 2 CFA candidates along with their graduate degrees, so its not that some idiot would be doing these jobs.

I mean c'mon did you really think analysts were indispensible?

 
analyster:
Even if BBs move, its mostly jobs of analysts that would get shifted. We're monkeys after all right.

The ones already operating in India are JPMorganChase, Morgan Stanley, Bank of America etc. Therefore only pitchbook creation, valuations, comps etc gets done here for deals outside India.

India still has frontend ops of BBs with India focused deal origination/execution.

Most of the analysts are Level 1 or 2 CFA candidates along with their graduate degrees, so its not that some idiot would be doing these jobs.

I mean c'mon did you really think analysts were indispensible?

so that means that banks instead of hiring analyst in us/uk/ will outsource pbook creation,modelling,etc to INDIA? I now thats monkey work and anyone can do it,but this gets me very worried abt the job prospects in the IBD.if u work in trading u risk of being sacked because of these computer made algorithms,now if u work in IBD u start being sacked because they outsource everything to Asia.

 

MDs want their analysts sitting in the cubes in front of them, they don't want to have to deal with differnent time zones etc. Not likely that the analyst position will be transferred to India.

 

People have been predicting that analyst jobs would be moving to India since the late '90s. The fact of the matter is that the senior people want to be able to communicate with the analysts face to face.

When I was interviewing with Lehman, one of the VPs I spoke with was responsible for the India analyst outsourcing effort. He told me that Lehman has been experimenting with outsourcing analysts for the past 3 years (he actually spent the last year in India), but there were a few problems that they simply could not overcome.

The main one he referred to was that the senior people just weren't comfortable calling up an analyst over the phone or through a videoconference everytime they wanted to get in touch with them.

He also mentioned that the cost-savings were not as much as they initially thought because the cost of living in India is going up, as are the salaries for top business students in India (the IIMs, etc.)

Anyway, Lehman's (and from what he said, other banks') stance on this right now is to hire a few analysts in India to take care of non-core analyst tasks (Comps, PIBs, etc.), but there are no immediate plans to outsource the analysts.

 

I agree with the posts which say that its not a complete transfer (yet), but yes, there are considerable advantages that a bank gets in hiring analysts in india to carry on comps+ pitchbook + valuations for foreign deals.

The JPMorgan office in india is huge, and so is the Morgan Stanley one.

Lehmann has a small sized team (30 people max).

This is commonly called Knowledge Process Outsourcing (KPO) btw.

However, putting all this into prespective, lets just say, not ALL analyst jobs would go. That is not happening!

 
analyster:
I agree with the posts which say that its not a complete transfer (yet), but yes, there are considerable advantages that a bank gets in hiring analysts in india to carry on comps+ pitchbook + valuations for foreign deals.

The JPMorgan office in india is huge, and so is the Morgan Stanley one.

Lehmann has a small sized team (30 people max).

This is commonly called Knowledge Process Outsourcing (KPO) btw.

However, putting all this into prespective, lets just say, not ALL analyst jobs would go. That is not happening!

Of course they're always going to hire a few analysts in developing countries to help with the more tedious tasks to take the load off analysts here.

I'm just saying that from speaking with people here, I just do not see the real analyst position moving to India anytime soon. Like I said, people have been saying the analyst position will be outsourced since the 90's, but the the level of bankers above analysts (associates onward), see this as enough of an inconvenience that they're not backing it.

Though JPM and MS may have centers in India, that has not reduced their hiring in the US. IIRC, it is analysts here that interact with the analysts in India, not associates or above.

 
Mr. Determined:
Don't analysts just do comps+ pitchbook + valuations all day long? An analyst job isn't hard to do. Basic math pretty much. Their job can be easily replaced. All you need is a little training.
So why pay analysts $100k? Just pay a shitload of HS students to come in and work, right? Of course its not rocket science, but I don't think the job can be considered as simple as you are making it sound.

I agree w/ Streetluck and Bateman too. You are not going to see many analyst jobs shifting over to India I don't think, at least not in the mass exodus sense that so many seem to be worried about. I would guess that back office stuff will move over completely before they start shifting appreciable amounts of typical analyst workloads over there.

 

Fraser-

Have you even worked as an analyst or even at an IB yet? You don't even need to major in economics or any related field to go into IBing. The former CEO of GS was an English lit. major.

And 100K? A few do, but read salary posts and see how much they make. Half of their pay is bonus so their pay all depends on the company's revenues. Their total pay can be 50K if the market is really bad and the company isn't making that much money.

 

There's more judgement at the analyst level than you would think. It's not the easiest job in the world as a lot of you would argue.

I'm not saying its rocket science but if you are in a top group with heavy levels of modelling and sheer volume of work - it helps to be bright.

Don't underestimate the judgement part when you consider offshoring the analyst position.

 

The place I worked in London is one of the banks mentioned with a big site in India.

They were at some point involved in my day to day tasks (equities). They are a serious pain in the ass to deal with. You need to highlight what exactly you need them to get for you.

No one in the office thought highly of the lads in india.

 

Of course I haven't. I know people who have and told me the truth about IB.
You need to get a glimpse of reality, you can be easily fired and replaced. Software design, something much harder than analyst work has been replaced by much smarter people in 3rd world nations.

 

Determined- I, like you, am not an analyst nor have had any IB experience yet. But if you haven't either, then how do you presume to tell me I can't comment on here? Did you not see that I wasn't saying it was rocket science? And of course your degree doesn't matter, because they just end up having training for you. Also, I think that software design is a poor choice for a comparison. That is something that does not require as much of the human component as something like IB, even at the analyst level, does. While analysts may not be the ones pitching clients, the analyst role certainly serves the grander purpose of grooming new people to become the associates, VPs, and MDs in the future. This is why not all analyst jobs will go over to India.

 

Fraser- I do agree with you not all analyst jobs will go to less developed nations, but you need to watch that there will be some. Everyone on this forum doesn't think it will happen, but you never know. Stuff happens.

 

Yea, I wouldn't be surprised if some go over, but like I said previously, I think this whole doomsday scenario of nearly all analyst roles in the US being shipped out to cheaper labor markets is simply preposterous. I think there is definitely an intangible value associated with having analysts working in the HQs instead of halfway across the world.

 

I wouldn't mind being a senator. Do nothing pretty much and just golf with other senators.
My ultimate dream job is to become an ambassador to some European country or Asian country. Live the sweet life for the next 4-8 years.

 

I didn't read this thread beforehand, wtf kind of question is that - would you be willing to move to india!? You don't need four years of college education to know that when jobs move to india, it's just the jobs that move, not the bloody people! Such a lack of common sense and intelligence is shocking to be honest.

 
Oconnor:
I didn't read this thread beforehand, wtf kind of question is that - would you be willing to move to india!? You don't need four years of college education to know that when jobs move to india, it's just the jobs that move, not the bloody people! Such a lack of common sense and intelligence is shocking to be honest.
Actually, I have heard of many companies offering to move the employee being laid off to India provided they accept the local salary, etc. Of course, a very low percentage of the people getting laid off actually decide to move to a foreign country as opposed to just finding a new job.
 

Hey idiot, there are many opportunities to network with asian banks in the area. People are offered to move with the job. After a year or two, you can work at a different bank because of your network. Also, you may be able to transfer to a different location within the same company. Think long term not short term. Such stupid people like Oconner.

 
Mr. Determined:
Hey idiot, there are many opportunities to network with asian banks in the area. People are offered to move with the job. After a year or two, you can work at a different bank because of your network. Also, you may be able to transfer to a different location within the same company. Think long term not short term. Such stupid people like Oconner.

Sure man, whatever... I heard some of the BB banks in India are currently hiring mail room clerks, maybe you should check it out? Networking and exit ops are said to be great.

 

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