I recently saw a post by someone from India looking for some help. Since I am from India and have been in FO for quiet sometime now, I thought I will do an Q&A to give back something to the community.
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Are you at an Indian bank or a US/European bank?
What coverage / product group?
If you're at a US/Euro bank does it still hold true that Indian front office roles are a lot of outsourced pitch/valuation work (though this view might be quite dated)
I am at an Indian Bank.
There is no division groups-wise. It is one team that takes care of the most of the stuffs, Fund-raise, M&A, Capital Syndication, etc. It is similar at other banks too.
The US/Euro banks mostly have BO roles here, but there are few FO roles as well. The US/Euro banks mostly have 2-3 senior guys and 1-2 analyst supporting them. Some banks just have an ECM team and few MD level guys for business development for M&A, once the M&A transaction heats up, a team from some other location will fly in to execute the transaction.
The ticket size really varies and is generally sub USD100 Mn. At this point of time the market is still evolving and the Ibanks do small ticket size transactions as well. This is done generally to build relation with the company and the main idea is to keep in touch till the time firm is large enough to engage for a substantial transaction.
There are a lot of banks here, Kotak, Axis, Moelis, GS, MS, JPM, Avendus,etc.
Other than lifestyle adjustments i think it would be fairly easy if you can network your way around. The hours are better as compared to US.
The comp varies from bank to bank and ranges from USD 25,000- USD 50,000 (fixed) at the analyst level. The variable would range from 30-100% of your fixed. on PPP that is way better then it seems.