Can anyone provide information on any possible focus that banks set up in Warsaw would have?
Poland's been in the financial news a lot due to their recent surge in investment opportunities through privatization, and so i'd want possible info before i contact some of the main banks there.
Specifically, im interested in whether DB, SocGen, MS have generalist offices (typically the case with small desks) or if they focus on a particular sector. DB and SG have been there a while, but recently CS re-opened their brokerage, and MS and GS have both opened a desk in the last few months.
Otherwise, is it possible to find a regional desk's specific focus on a Bloomberg?
Interested in this as well. Any info. would be great.
i read that credit suisse and citi have also opened groups there; the government is privatizing many of its former assets to raise capital to pay off its debt, this will be a good economy to tap into....very promising
whats the pay like there? Sure you want to shoot yourself in the leg and try to elbow through the closed cliques to get a decent position?
i am quite curious about the business environment there as well. I'm assuming you wouldn't fit in that easily.
They are all generalists, not enough business to warrant an industry specific group. Those offices in Warsaw are usually used by bankers flying in from London anyways.
BNP Paribas and UniCredit CAIB. hires I-bankers in Warsaw.
There is very few junior positions to be filled and the language is a must. I think the financial press overhyped the market a bit.
Im positive that its over-hyped. There are two things "happening" in Poland right now: Road construction and building construction with energy becoming a growing concern. Plenty of wind farms were developed, now methane power plants but there is a lack of power for the future. As almost all development the wind farm investments were mainly driven by the EU incentives, road construction started due to EU funding.
From the foreign investors I have spoken with that have invested in large industry in Poland, think WSK Swidnik, WSK Rzeszow, are complaining they bought into the hype and are starting to feel less enthused. The archaic accounting and legal systems are not keeping up with development, plus anyone with ambition and brains has unfortunately left the country creating a talent problem. As to the reason for leaving: 6000PLN (~$2000) a month is considered an amazing job in Warsaw, which has the highest pay in the country, as an associate in McK/E&Y. Sure the pay structure varies VASTLY and people do make $, but the opportunities to be in a decent pay bracket are limited to the closed clique of the countries "In" network or to the savvy entreprenuers that are developing the market not to the employees.
Id like to hear if someone does have different thoughts.
Entry level in McK Warsaw office is $4k. Around $3k in UniCredit CAIB.
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