already know they are a leading IB in China/HK along with CICC, how's like working there as an analyst? life style? excel? pre-training? exit opps?
Thanks in advance.
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All I know is that the Chinese banks don't pay properly...
yep, that is the truth......
I know people jumped from JPM / C / DB / UBS to CICC, pay is better.
CITIC and CICC are definitely on par with, if not superior than, GSGH, UBSS, Citi, etc in mainland China, but CITIC pays a smaller base than CICC. I would choose CICC over CITIC in most cases.
What do you all think about a corporate banking role at a BB firm, versus a role at CITIC IBD?
How do you all rank up CITIC against the rest of the BB firms?
Double post. Delete.
CITIC = sucks.
CICC on the other hand = win.
If you have a chance to start at CICC, and your chinese is good enough, it's potentially a very good job. Starting salary + bonus is often more than most BB's (globally). Had a friend... last year base + bonus exceeded $1 million RMB (which is $160,000 USD).
CICC isn't a huge international player, but they absolutely dominate domestic China markets. Shenzhen, Shanghai, and HK will be the largest equity market in the world within the next 5 years... so that's a ton of money to be made. Foreign BB"s will be mandated on deals involving foreign companies looking to list on the mainland bourses, but you can bet your bottom dollar that anytime a Chinese player wants to list in mainland, CICC gets the mandate.
Also, I imagine working for CICC would be a pretty good experience for business schools
Is CITIC really so bad? Is it due to the compensation package? I guess but if your best offer is CITIC it may be good to move into that? Also, for this role it will be based in HK, not in mainland China. Does that make a difference? Recently CITIC just got mandated for the Li Ka Shing yuan-denominated IPO, isn't that a sign of things to come, not to forget the upcoming merger with CLSA :)
Take it
just curious about how people would rank CITIC and CICC NOW. lol
Curious too, I want to land an internship in any of these two, but no luck so far.
Personally havent worked in either so wont comment on the culture and all. However I do understand Citic ranks high on capital markets deals "Globally". So saying it sucks might be too sweeping a statement. Have heard good things about CICC as well.
As a matter of fact I will take CICC over any BBs in China mainly because they have a dominating position in mega-IPO deals. Their base pay is slightly lower than UBSS but bonus should be higher. Dunno a lot about CITIC though. The problem with China BBs is that they are largely really not technical. You do not get to work a lot on pitch books and modeling. "Zero modeling" as my contact from CICC said. P/E ratios are usually determined by a "sales" approach. It was like bidding. But yeah if you can get CICC, just take it. In terms of the exit opps, you can run a quick Linkedin search but to my knowledge, they mostly will go to China PEs and HK BBs. I know a guy going to a small boutique from CICC.
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