HELP! NY IBD MM (RBC, HL) VS HK IBD BB(JPM, CITI)
Hey guys! I learned a lot from your expertise and now I need help again to choose my offers: NY IBD MM (RBC, HL) VS HK IBD BB(JPM, Citi) Or make it simple: top MM NY vs JPM Hong Kong Language is not a problem and both are Summer IBD analyst positions. Dont know which group yet.
Please give me some suggestions which one is good for my future career in banking (no plan for PE).
I love you all!
Congrats on your offers, the primary factor in your decision process should be where do you want to live after graduation? Both RBC and JPM are solid banks so your decision should come down to where you want to be.
JPM. HK is amazing.
congrats on the offers.
i think it comes down to a choice of where you'd like to be in the long run lifestyle in HK can be drastically different from that in NYC
fuck rbc...its more like HL vs. jpm HK. decide where you want to spend the summer (and potentially the next 2-3 years post grad). HK will look bad ass on b-school apps.
love you too.
I really like your name Oldmansacks!!!
hk all the way
HK Top BBs (like JPM) is comparable to top BBs in NYC. Therefore, if you believe that Top NY BB is better than NY MMs, the choice would be simple...
Again, thank you so much for your advice. I will have to make a decision in the next 38 hours. Any more ideas!? Cheers
Hey congrats on the offers.
If you're staying in the US, I would not rule out RBC as others have suggested. They're a very solid shop with a very strong balance sheet. They are also growing very aggressively and rapidly. Their bonus pool actually increased. I know quite a few people there from HR to analysts to MDs.
Best of luck with your choice. It's a great problem to have.
thanks again
When in doubt..NY over all else.
I think the HK offer would give you more options down the line when it comes time for FT. I would think the BB name would have more weight for FT. Seriously, how much does a SA do anyway, I doubt the experiences would really be that different. Just my thought though, I'm only starting my SA this summer as well.
Don't really know what the big deal about NY is besides it being NY. HK and NY both offer similar pay (HK probably slightly better due to tax), both are world cities, and both are in IBD. If you are Asian, might be a cool idea to go to HK and be the majority for once. I also think the growth potential of Asia make HK the more interesting path, though more risky. Your call.
Hi Everybody, I rejected my NYC MM BB offers and I am joining JPM HK! Please PM me if you are also joining!
NY MM vs. HK BB? (Originally Posted: 10/25/2015)
Hello all - In a bit of a unique personal situation. Been studying in the US as an international student from Asia. Recently received FT analyst offers from MM IBD in New York (think Nomura/Macquarie/Jefferies), expecting to receive my green card some time in 2016. Also recently received an offer from BB IBD in HK (GS/MS/JP).
Mid- to long-term goal here is to have a finance career in the US, but also hope to develop connections in Asia for potential business relationships. How much of a benefit could it be to choose the BB in HK over the MM in NY? Would it be very difficult to lateral/transfer back to NY? What about B-School opportunities for these two paths?
Would love to hear from folks who had experience in HK and/or NY. Thanks!
I have seen Analysts in HK offices at BBs transfer to NYC offices after a year or so. I'm not totally sure how common this is so would be best to consult HR.
If you're offer is at a top MM like Jefferies or one of the better groups at Macquarie / Nomura, I would strongly consider that over your BB offer. Lateralling from one of those places to a top bank is very doable and at the very least you are starting your career / building your network in New York.
Thanks for the feedback, OppositesAttract.
-Double post-
Once you leave school (which I presume is soon) it will be very hard as an international to get back into the US for a position. The easiest way to work in the US as a young international kid is by getting a grad job out of college. If you are dead set on spending some of your professional career in the US, choose Jefferies. Great shop, and an HK BB will gladly take a look at you with Jefferies on your resume if you want to head back to HK at some later date. NY bankers generally get a more intensive banking experience than their HK peers (technicals wise).
I am about to join GS/MS/JPM in HK, but I am from NY. FYI transferring from HK office to NY office is very very difficult as a junior, especially for GS/MS/JPM. I really can't think of many who have pulled it off recently. It's a lot easier to go from NY to HK than the other way around. Just the way it is.
bump!
Subtle Jefferies trolling!
Top BB HK vs. weaker BB NY (Originally Posted: 01/27/2012)
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How can you put MS in the "weaker category"... -_-
Unless you're Chinese and want to get back to the motherland you should choose the NY one. NY v. HK has been debated too many times on this forum. But ultimately, those who work in NY never say they wish to work in HK, while those in HK would most likely prefer to work in NY. Why?
New york has better pay and better exit opps. Most hedge funds and pe shops are in the city.
If you want to go to grad school, you dont have leave a country.
Also, comparing BBs across different sites isnt transferable. New York and London are the crem de la crem of finance locations. UBS NY is more sought than GS HK (i'm sure people interviewing/workin in Asia will bitch about this). However, thats not to say that HK or SG are not exciting places to work, as the area is up and coming and I would'nt be surprised if they take over as the finance capitals of the world in the future. However, today, NY is still better.
These are all good points. But since the OP has no geographical preferences, shouldn't he go with the better BB? Wouldn't working as a trader at GS or JPM give you more exit opps than say BAML?
I think you are really underestimating the asian markets and would be surprised if anyone chose UBS NY over GS HK.
This x100.Re: desk choice, I've seen a lot of wannabe traders get fucked by the shitty market over the last few years and end up in roles they weren't really interested in (sales, structuring, prime brokerage etc) so you need to keep this in mind when you make your choices. If you have any leverage you can use to guarantee a desk, do make an effort to do so.
[quote=etrain86]Before you start tiering institutions you should really take a look at their FICC revenue shares, the chart below (from Nomura research) may throw up a few surprises to those of you blinded by prestige...
http://av.r.ftdata.co.uk/files/2012/01/NomuraGS.jpg[/quote] The only surprise being Citi which Op misclasified as a tier 2 FICC house?
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Product group.
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All else equal I'd do NY unless you really want to be in Asia.
All else equal I'd do HK unless you really want to help the US with its budget deficit by paying more taxes.
Well if he's American its moot anyway, you pay at least US tax rate.
Yeah I'm American so it doesn't matter either way.
What if the Asian business performs significantly better?
In terms of potential for advancement, is there an advantage either way? I figured Asia would be something of a Wild West where you'd have more freedom (read: start managing risk earlier on). Am I off-base on that?
So you would rather have more freedom and manage risk 6months in on a shitty desk with shitty leaders who let you blow your book up. Or would you rather spend 18months learning from the best, slowly gaining exposure, having a good mentor etc...
Before you start tiering institutions you should really take a look at their FICC revenue shares, the chart below (from Nomura research) may throw up a few surprises to those of you blinded by prestige...
http://av.r.ftdata.co.uk/files/2012/01/NomuraGS.jpg
As to getting your shot earlier, it is really a function of the liquidity and/or complexity of the product you end up in - you're more likely to start running risk quickly in govvies than in high yield, or credit correlation
Does Nomura break the distribution into products or does it leave it at FICC revenue?
depends... exit opps are diff in NY vs. HK
I feel like I am in a banking thread. Since when did top BB or exit opps become such a concern to being a good rates trader?
London and NYC are the top places to trade fixed income world wide, the largest desks are in those locations. Likewise you should not be thinking "top BB vs middle BB", you should be looking at the desks you can get and if you ACTUALLY ENJOY the product you will be dealing with.
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Like I said, I surmise the difference is probably not big. I know a few traders and quants working in HK. Many of them worked in London and New York for 4-8 years. And you are right. Which group you are with is much more important. E.g. a good mentor and better learning experience won't help you much, if you end up with a index arbitrage desk.
The GS share will come as a shock to all the ranking junkies
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