SWFs in ME or Singapore

Anyone with insights on SWFs in UAE/Singapore? Would be really curious to get some information

Generally there are 0 barriers to entry in terms of just being a foreigner for entry-level/associate hires - I have friends at GIC and ADIA and they are full of foreigners. Not a problem at all at that level.

GIC compensation at the junior level is going to be comparable market base compared to an IBD role of similar seniority, but probably a little less. This is comparing Singapore GIC to IBD in a major hub like NY/HK/LDN. Lifestyle is a little better than banking, but I know GIC juniors work their asses off regularly because that's just the culture over there in SG.

Personally, don't see either as a very attractive opportunity. SWFs tend to attract those kids who have always eyed that public sector prestige...you know the ones that have day dreamed of one day becoming a diplomat, almost went to Gtown SFS but chose Stern at the last minute, etc. IFC/World Bank is lumped here as well. In general, the talent they take is generally slightly worse than the kids that end up at KKR/Carlyle et al. Not to say these guys are not talented though. Both funds also get progressively more unbearable as a foreigner the further up you go.

Don't get sucked into the novelty / "cool factor" of working for a SWF. it disappears the moment you get there. I know for a fact GIC is a great place to learn (i.e. their GPP program) but the traditional private sector routes would be of similar difficulty with larger payoff imo.

Thanks for the great reply! But is the payoff really that much better in the private sector? I mean certainly you'd get a higher payout at some MF in NY/HK/LDN, but then there is tax and you probably also work much longer hours.

So do you think one should't apply there at all, or would it be legit to complement your entry level applications with e.g. an application for the GPP, NBIM Investment Talent Programme etc. and also your Buy-Side applications later on with applications to SWFs?

From what I know (a friend did GPP and another went through NBIM interview process), undergraduate recruiting for GPP/NBIM ITP is much more selective than the experience is actually worth. Meaning that you, as a non-national, will probably be able to land a gig at BB/AM more easily than GPP. But say you get both and take GPP, would you come away with skills greater than a similar stint in ER/IBD/AM? Most definitely not. You will also typically make less than your counterparts in pure private sector finance too. But what you do get is a somewhat more differentiated brand and entry-level experience, which will be worth more or less depending on who is viewing your resume.

I think going to a place like GIC is a lot more reasonable of a choice post-IBD/ER for a 2-year stint before B-school, because SWFs genuinely do look very nice for applications and they place well into B-School. That way you get the benefit of the brand without committing to rising up in their crappy political hierarchy while also experiencing the tried and true 2-year post-undergrad experience in IBD/ER/AM.

People doing SWF at the undergraduate hire (right out of college) level typically have extrinsic motivations to do so besides the drive to grind tons of hours and learn finance/investing to jump somewhere else. Whether that is the public sector prestige, patriotism, working culture, etc - I don't know enough to opine.

Ok that sounds reasonable, appreciate your input!

Thanks for the insights! I have interned at a BB, though it was in AM, as well as in Big 4 TAS. There is no IBD internship on my resume yet (may be to come between my bachelors and masters). Do you think that is already solid enough to apply or do they require IBD (internship) experience?