Which of the three banks has the greatest deal flow and which one is regarded most highly? Anyone who worked in those banks/locations can offer some insight on lifestyle, culture and the people at the firm?
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I'll take the BJ for sure. not even sure what HK stands for but it can't be good
I agree.
Would rather get a BJ from Goldman Sachs than a pair of Holiday Knickers from MS.
BJ... why is this even a question?
Where's the girl who left banking for porn? She has a target resume for the Goldman Sachs BJ group.
I hear she's in negotiations for Group Head.
She'll be an up-and-coming star, a true comeback story.
OP the choice is obvious, you'll be working with top industry talent.
Comedy aside, I would recommend Beijing. A lot of IB activity at all banks has been moving there in past years. On the side, China strikes me as a more up and coming place than HK where everything is already rather saturated.
Not sure about GS's specific structure, but I found that although the analysts in BJ did some good work, a lot of time was spent doing nonsense for the client. e.g. analysts were sent to sit in the SOE's office and twiddle their thumbs as the guys in HK cranked on the RFP - was done to show that the bank had 'capacity' and was committed.
Let's also not forget the 15 vs 30% income tax rate
Isn't Beijing's hour a lot worse than Hong Kong? And Beijing office gives the potential candidate a lot less job mobility in terms of geography than the Hong Kong office? Also is Beijing local people a lot less outgoing than the ABCs from the MS Hong Kong office?
I have a friend who got a GS BJ offer. He took the HK offer at another top BB (MS/JP) and never looked back. HK gives you flexibility and assurance you'll have the better deal flow out of the offices. Beijing office just narrows your opportunities down. You can go from HK -> BJ, but not the other way around for a reason. And plus, even though mainland China is where most of the business comes from, HK is still Asia's financial hub, and will be for the foreseeable future. BJ just has too many restrictions. Lots of the advice above are pretty bad imo. I went through Asia IBD recruiting and have done quite a bit of networking.
In terms of culture, BJ is definitely more mainland centric, even though there aren't that many ABCs in HK as much as before. I would absolutely recommend you to take MS HK for sure and think you would be making a big mistake if you take the Beijing offer just for the name. MS HK gives you better exit opps than GS BJ for sure. Besides, HK as a location is 10x better than Beijing.
Just be sure that you'll do well, since MS HK is said to have a pretty tough return rate.
Hey, could you discuss a little bit more about HK vs Singapore?? I am not very familiar with Asia IBD recruiting, very much appreciated. Thanks!
Etaractic, what if the choices are between GS in Beijing office and UBS HK or Moelis & Company Hong Kong?
Bump.
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