Hi,guys. right now I have two offers at hand, one is GS Research and one is CICC IBD. I am not sure weather you guys know about CICC. It's the top native investment bank in China and has a lot relationship with Chinese Politicians.I want to go to PE after I exit from IBs... Thank you!
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CICC IBD where? Beijing?
Yes, in Beijing~
Is G.S. research GIR in NY?
No, it's base in BJ / HK..I am from Peking University……
Do GS; Research is better anyways. Period. I'm signed up for it myself at a BB :P
^yea not biased at all
Join CICC if you have relationships. If not, join GS for the time being.
Goldman's research is nowhere near the top of the street. Moreover, for a PE exit I see IBD as more relevant, so I would say CICC is a better choice.
If you want to work in China, go to CICC. BTW, how's package? I heard that first year analyst can get 1 million yuan all in.
The package is just on par with its competitors. The Base is 41,8000 RMB($62,000)... i am not sure about the bonus... The most advantage of it is that CICC never lacks of deals and the bonus is competitive compared with others....
CICC does pay 1mil+ to first year analysts. Also, the great thing is, CICC will never run out of deals due to it basically being a state-run company.
By 2020, Shanghai will probably have much more open markets. Expect deal-making activity to simply explode. I would not be surprised in the least if total Investment Banking revenue from the Asia-Pacific region for big players in China (GS/UBS) to surpass the revenue for the Americas and Europe.
YTD, APAC revenue is about $10billion, half of the $20billion revenue generated in the US. But expect that number to grow at a very rapid pace over the next decade.
Thanks~~~~
What is the bonus range and also baseof the yuan pay?
The base is 41,8000 Yuan... If it is a bad year, the bonus may be 0. But in normal, the base is about 1-1.5 times of the base. If you are lucky or the deal is really good, the bonus is about 2-N times of the base...
Thanks for the info. Seems to be on par to BB's in HK due to less base but chance of higher bonus.
BB 70k+65k * 7 is around 945k yuan.
So if we take the 1.25 multiple on CiCC's 418k base (avg of 1 and 1.5 base) then we get 522.5k in bonus which is a total of 940.5k yuan. Of course if you get a 1.5 or 2 times multiple on the bonus then that would be more.
Are you also including a signing bonus of 70k yuan (10k USD?) The BB's have that but not sure if CICC does.
OMG. 418,000 RMB + bonuses, not to mention the growth potential. Ford to city: drop dead. everyone should consider a career in beijing not NYC.
Go to Beijing, Join CICC. You will build up tons of relationship there, very important for your later career.
Thanks for your advice and the good suggestion~
Thanks for your advice and the good suggestion~
Thanks for your advice and the good suggestion~
^ GS first years in IBD get 545,000 RMB base.
If the US has its way (and it will eventually), the RMB to USD ratio will reach parity around ~5:1 from the current 6.8:1. A few years ago, that number was 8:1.
To put this in context, that GS-GH analyst in Beijing who's making 545k RMB base w/o sign on is already equivalent to $83,000 or so. If that analyst puts that in the bank, along with the 500K bonus at year end, and waits for the RMB to appreciate... well, that's a lot of USD. Taxes are pretty high though (~35-40%)
Cost of living is dirt cheap compared to NY or HK. I guess the only real downside is that working in BJ is a "pigeon-hole", but if you're Chinese-native and that's your home, I guess that's pretty much an advantage.
[quote=ibhopeful532]^ Thanks for your reply~~~ GS does not pay that much in China... I am sure It pays 54,5000 HKD(=0.85 RMB) in HK and the equivalent in Beijing...
delete
Thanks for your advice~~~
How is the culture like in CICC? all native chinese? I guess the hours are better there?
The culture is more Chinese and the hours is kind of better than BB in HK...
The majority of the Bankers are Chinese^
I heard that CICC takes on ~40 analysts from campus recruiting this year. To be honest I'd take CICC IBD over non-GS/MS/JPM/UBS BB IBD offers in HK/BJ/SH.
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