Investment Banking in India

Major players

by skotwani (Chimp, 3 Points) on 6/13/06 at 11:09am

What are some major players for I-Banking in India?

• 0
• 

I speak Tamil and am

by pro.gatsby (Chimp, 14 Points) on 6/20/06 at 1:24am

I speak Tamil and am learning Hindi very quickly...will these help in India, or is everything conducted in English? How are the salaries in India? How fast are markets emerging? How quickly does one get promoted? How can I get my foot in the door to start working in India?

• 0
• 

how good is very good? compared to US?

by ghosht (Orangutan, 352 Points) on 11/19/06 at 4:50am

cause if its anywhere near the US pay, you can have your freaking castle.

• 0
• 

bump. Any comments?

by IB2007 (Monkey, 59 Points) on 11/28/06 at 2:46pm

Any idea about IB First year Associate compensation in India?

• 0
• 

Indian Investment Banks

by netking007 (Baboon, 101 Points) on 2/13/07 at 3:00am

I think when it comes to Investment Banking in India, things are really picking up...with recent global deals such as

Vodaphone acquiring the Telecom assets of Hutchison Telecom in India
KKR acquiring the software unit of Flextronics
Tata Steel acquiring UK based Corus
Hindalco acquiring US based Novelis
Oracle acquiring a controlling stake in I-Flex
Mylan acquiring Matrix Labs
EDS acquires controlling stake in BFL Mphasis
Swiss cement company Holcim acquires ACC
Suzlon acquires Belgium's Hansen Transmissions and Germany's RE power Systems
Dr. Reddy's Laboratories acquires Germany's Betapharm

Big IPOs over the last couple of years - WNS (US Listing), Idea Cellular, TCS, DLF(coming up in the next few weeks), EXL Services, Mindtree Consulting (in the coming week), Jet Airways, Deccan Airways, Cairn Energy India, Reliance Petroleum, Infosys - Equity Follow On,ICICI One Source, Biocon and many more

Plus a number of private equity firms - Bain Capital, Blackstone, Carlyle, Apax Partners, Texas Pacific group, Warburg Pincus...have stimulated deals.

The Indian government has recently announced that it would kick-start the privatization process, taking three power sector companies public.

I think the following banks dominate the league tables (Equity and M&A combined)

1. DSP Merrill Lynch
2. JM Morgan Stanley
3. ABN Amro Rothschild (JV between ABN Amro & Rothschild)
4. Kotak Mahindra
5. Citigroup
6. ICICI
7. UBS
8. HSBS Securities
9. Deutsche Bank

Goldman Sachs, Lehman Brothers and Credit Suisse are building operations.

• 0
• 

Compensation

by eyebanker (Chimp, 1 Points) on 11/3/07 at 5:52am

Regarding compensation structures...
Kotak -Base 11.5 lakhs + 4 lakhs assured bonus ...average bonus goes from 100-150% of base salary

JPMC, Merrill - 18-20 lakhs base
Credit Suisse - 23 lakhs

• 0
• 

thats good money in

by yinyanyon (Monkey, 59 Points) on 11/21/07 at 1:35am

thats good money in india...23lakhs base...and then another 20lakhs in bonus is nearly $100K, which is a lot considering its india.....ofcourse im assuming these salaries are for analysts...

• 0
• 

actually if im not

by yinyanyon (Monkey, 59 Points) on 11/21/07 at 3:14pm

actually if im not wrong...hyderabad is paying in that range...50lakhs+comp....its an amazing deal...a lot of the ibanking firms are setting up headquarters in hyderabad now....and the cost of living there isnt that high either....much lesser than mumbai and delhi...

• 1
• 

When you guys are saying

by qwerty123 (Chimp, 8 Points) on 11/21/07 at 6:45pm

When you guys are saying figures over 40 lakhs, are you talking about analyst positions??
My god that is a shitload of money. My cousin (21 years old) works for oracle, and they pay him 10 lakhs, and he is considered to be really well of. But 40-50 lakhs is in a whole new level!

• 0
• 

hmm, sounds awfully high for

by TheBenevolent (Orangutan, 339 Points) on 11/21/07 at 9:05pm

hmm, sounds awfully high for analysts

50 Lakh is about $127,000, i would say 50 lakh for an analyst is impossible
even for an associate, it seems a little far stretched
i understand the progress india is going through, but, 50 lakh is stil a hugeee amount to be making yearly

i will be glad though if i am wrong :-)

• 0
• 

i have some info on what the

by yinyanyon (Monkey, 59 Points) on 11/24/07 at 8:23pm

i have some info on what the money there is like...first of all...theres no way associates are making 50lakhs....i found out from my friend who's cousin is apparently an associate in DB...he is making close to 25 - 30 lakhs after bonuses which is close to $60-70K. And that too these are people who are hired from IIM or international business school of hyderabad....

• 0
• 

i Banking in India

by kapoor502 (Chimp, 7 Points) on 11/27/07 at 6:28am

Hi Everyone,
I am glad people are finally talking about Investment Banking in India.I am currently working for a Dutch Boutique in India in their M&A team.The bonus is obv related to the number of deals you close.I disagree with the fixed bonus component.
I would say an analyst today would start with 12-15 lkhs average with a bonus of atleast 100% their first year
Associates draw approx 18-20 as base with 100% bonus depending on the deals they close
Lehman, Credit Suisse and Goldman have opened thier operations in India and the pay is way more than the industry average.
The work and the exposure one gets in India is very good and your pushed on a transaction from day one.Also, you have engineers from IIT and graduates from IIM, whome you can learn a great deal from.The selection process is very hard and interview questions are highly technical.Having interviewed with I banks in Newyork, I can def say that interviewing in India is way harder
I would advise any one to do an internship in India, given the present day scenario

• 0
• 

Hi slik, Sure, I would be

by kapoor502 (Chimp, 7 Points) on 11/27/07 at 10:55pm

Hi slik,
Sure, I would be happy to answer all your questions.
The recruitment in India is pretty much the same as the Us,although a little less structured.It works more on refrence, for example if you know a vp or an associate to forward your cv to the right hand.If you do have an Mba from the US it really helps and your resume will speak for itself. You do have a lot of Indian Investment Bankers with foreign MBA's and my advise would be to start networking like crazy.More importantly, you have a lot of headhunters in India now who specialize in Corporate Finance jobs
Also, I know friends who have worked as analysts in the US and have come back to India in a year to work in thier Indian operations with a real good salary package.
India is booming right now and you should not have trouble finding a job/internship.We curently have 63 PE funds on hold all waiting to set up shop once they get the required licenses.Between Jan to March is when all the recruiting in India begins.
Lastly, it really does not make a differnece whether you start in the US or India you would have an advantage both ways.You also have a lot of regional indian boutiques who do great work and give you great exposure.

• 0
• 

How many dollars is one

by holymonkey (Gorilla, 599 Points) on 11/27/07 at 11:40pm

How many dollars is one lakh?

"We are lawyers! We sue people! Occasionally, we get aggressive and garnish wages, but WE DO NOT ABDUCT!" -Boston Legal-

• 0
• 

Hi Slick, Salary for an

by kapoor502 (Chimp, 7 Points) on 11/28/07 at 12:42am

Hi Slick,
Salary for an Analyst is between 8-12 lakhs base and bonus would typically be 100% due to the deal flow in India.Associates draw between 12-18 depending on where you are.Goldman, UBs, Morgan and Credit Suisse pays you around 12-15 as a analyst and 20-25 as an associate.This excludes the bonus component and are very hard to get into.
To be honest it really depends on how good you are in your work.If your MD likes you and your closing good deals your salary can shoot 30% in 6 months.Demand for quality Investment bankers are high so firms typically pay you what it takes to keep you there.I have friends making good money and leading a very high quality of life as first year associates.Social Life in India is great expecially mumbai.Bars, Night clubs and food is great.The standard of an average Indian has gone up past 2-3 years and everyone is cashing in on the Indian story.
Working hours in regional boutiques are about 65 hours a week while the bb's are around 75-80.
Cost of living in Bombay is expensive due to escalation of real estate prices

• 0
• 

Another thing you have this

by kapoor502 (Chimp, 7 Points) on 11/29/07 at 9:14am

Another thing you have this whole outsourcing wave in India.Goldman, Morgan etc have thier back end operations as well.The fuck up is in a bpo your working at the night shift which suks but they pay is decent and jobs are easy to get.It is always good to be on the front end i.e doing front end deals with Indian companies as well as cross-border transactions. Its great if you can get an internship here.I met a guy from one of the top PE funds recently and he is second generation Indian.I mean born and studied in the US,but is getting some experience in India.He loves it here and is planning to extend his stay from 1-3 years or so.So life here is great and the quality of work is even better.Your meeting CEO's making presentations etc within the first year itself.Again it depends on how fast you can pick up the stuff and the structure between an MD and analyst/associate is much less.
Also, if your looking at an MBA i guess foreign exposure always helps, especially since India is the flavour amongst all emerging markets right now.I love it here and there is no fucking way i am going back to the US, although i did my undergrad there.I hated the banking life out there
Hope that answers your questions

cheers

• 0
• 

Thanks Kapoor, looks like

by slik vik (Senior Baboon, 180 Points) on 12/1/07 at 3:56pm

Thanks Kapoor, looks like you're enjoying your life in India. How are the PE funds in India? Are you thinking of joining one? Hows the compensation in Indian PE funds? Thanks once again.

• 0
• 

READ BLOOMBERG MARKET MAG. RECENT EDITION

by Longhorn (Senior Chimp, 27 Points) on 12/4/07 at 10:25am

There is a special on the India scene - specifically the outsourced valuation work that goes on there.

• 0
• 

^I'm curious about this as

by nontargetbanker (Senior Monkey, 81 Points) on 7/21/10 at 1:19am

^I'm curious about this as well

• 0
•