I want to make the most money possible - LONDON/HK
I go to KCL, first year.
Applied, got one spring week from Morgan Stanley .
I have a Hong Kong passport and a UK passport.
What is the most lucrative path I can take
I know my university is not the greatest but there is nothing I can do about that now.
Man doxxed himself 🤦
Congrats on MS, if you want to maximise income whilst young there’s quant (Most quant firms I’ve heard pay +£120k base for summer interns) or working at a top EB (PJT for example pay £80k base for summer interns)
Or even better, all on black
Hahah there are actually several people who i know who have the same passport situation at kings .
I am not clever enough for quant ahahahha
How do you suggest moving into working at a top EB?
Del
L/S equity @ P72/Citadel/Millennium. Senior analysts and PMs have the capacity of making 7-8 figures if you’re on the right tail of outcomes and you’re a risk taker.
Actually pretty similar to betting it all on black like the other user said tbh.
Macro HF + Quant but you already ruled this out.
I’m sorry if I offended anyone
Get a job at Tci
convert the sw to sa, convert sa to ft and go into a mf after 2 years, and then maybe move into a l/s hf
How creative
Very long-winded process to get to a l/s hf
What would you recommend instead?
I’m genuinely very clueless I’m sorry if this is offending anyone
You’re good mate
Speak English
Wait I do speak English ? And I’m speaking English right now?
Your balance would be between the nominal income, the ceiling of your income, and the respective tax rates/living costs applied.
Broadly speaking and with little to no real data whatsoever, the potential ceiling of your income in London is higher than Hong Kong due to the trans-atlantic dealflow and broader base of economies you serve (all member states of the European Union). Also factor in the possibility of China's economy not recovering in the medium/long term, though that is not to say the Eurozone is doing much better.
However, the tax rates in the UK are also significantly higher than Hong Kong, which is known to be one of the most tax-friendly places to middle/high income but not asset-wealthy people in the world. London is heavily asset-owner friendly and conversely pure-income unfriendly, even more so than Hong Kong despite the latter's already high living costs, in my opinion, having lived in both across the span of >10 years.
From a somewhat vague view of the immigratory aftermath of the British colonisation of Hong Kong, I would assume you either hold the British National Overseas or, even better, outright British Citizenship (do NOT tell us). Signing up to the BNO visa would save employers a lot less hassle and put you into the pile which does not need visa sponsorship for it places you onto the track for British Citizenship. I had a friend who was rejected from a mid-market bank in London (think SocGen, BNY, Mizuho) after all interviews and assessments because they didn't want to sponsor the candidate, but had he/she signed up to the BNO visa, they would have let him/her in. But the tradeoff is your friends and family, daily life, and overarchingly whether you are willing to spend the next five years of your life living in the UK.
If studying at King's is your first time quasi-living in London, do give it due consideration about the lifestyle differences. I say quasi because living in London as a student and employee is vastly different. The social circles you had in university would be restructured once you enter employment - you won't be going to lectures at the same time, joining the same clubs and societies, doing the same sports, getting pints after class...etc. So do ask yourself, and only yourself, whether you like (or can put up with) living in London to achieve what you want. It is entirely fine if you cannot - Hong Kong is a great place for day to day living if you don't care about certain, now unspeakable, aspects.
Best of luck.
As others have alluded to, get a job at an MM HF out of undergrad. Get the training there until you’re ready to be a PM. Then leave to HK as a PM who knows what he’s doing. Get paid on minimal tax. Most people dont make it to PM and even more don’t last. So this is all going to be useless information ultimately.
Stay in HK. Pre-tax base is higher at BB. Post-tax is significantly higher.
IB A1 Pre tax pay at HK is around 70-80 HKD per month base at most banks, UK salary is ~65K GBP. Tax in HK is also lower and living cost is slightly cheaper in HK (I would also assume your family lives in hk so you can also save up by staying at home lol)
However, you have to factor in the other stuff like the toxic junior culture at HK IB and geopolitics (HK is mostly China deal and as you probably know its the economy is not doing so well) A lot of things to consider.
Just to clarify, salary vastly depends on which banks. Most banks have base salary of 70k but some indeed 65k (usually lower BBs and some MMs). Top EBs are 80k. There are some exceptional cases like TD which pays 75k, Piper Sandler pays 78k base or Commerzbank pays 80-85k (?)
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