I am a human being and I don't want juniors to feel miserable. Corporate talks about mental well-being but nothing is really being done about that.

I think all senior guys like me suffer from a very typical syndrome at GS : We just want to say "it happened to me too, stop being a snowflake"

In the end, that's how the work is, get ready for it or leave. We pay well for a reason, we expect a lot from everyone. No one is going to be nice if you are underperforming

 

I am a human being and I don't want juniors to feel miserable. Corporate talks about mental well-being but nothing is really being done about that.

I think all senior guys like me suffer from a very typical syndrome at GS : We just want to say "it happened to me too, stop being a snowflake"

In the end, that's how the work is, get ready for it or leave. We pay well for a reason, we expect a lot from everyone. No one is going to be nice if you are underperforming

I have a hard time believing you are an MD with this attitude. I understand the “this is hard work and we pay a lot attitude” I don’t understand the “this happened to me” attitude and I think that misses a lot of the point. If you continue to perpetuate what happened to you, then you will never have change. At the end of the day, GS no longer pays that much compared to buy side jobs (at least in the US) and the top talent is starting to turn down these jobs for better WLB and pay. Pretty weird attitude to have (and I’m a partner on the buy side). 

 
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I've stayed on the sell side as I could see me grow there. You climb the political ladder, you fight your way up and it's exciting. Each year comes with more responsibilities.

I could move to the buy-side, but would I be successful there? Not sure, it has never been my business.

Last year we lost a star quant, the guy was relatively junior (4-5 year of XP) but was generating revenues like crazy. He was very respected and people wanted him to stay. In the end he left for a quant fund in HK. I am not too sure why to be honest. Did they promise a much bigger comp? Could be. Could also be he got fed up with the politics and did not receive what we wanted from it.

I am saying that to express that each path is unique and it's a lot of luck to get in a good spot. You can be brilliant and fail because you were in the wrong spot. You can be stupid and be successful. 

I think the sell-side is pretty lucrative and we are not shying away from giving good comps. However, it takes time to climb up and you have to respect this. You can be brilliant, you're progression will be slowed down by the process (HR and mgnt). Sell-Side is about grinding your way up, sticking to your seat and expand. Buy side is more immediate reward but it can also be the end of your career

 

Less and less so.

In the 2000s, we used to hire art majors in trading positions. It's not the case anymore, we want technical guys. So what you study does matter, where you does matter more.

We got enough CVs to be picky

 

Where in Asia are you based?  Is equity flow dying over there?

 

HK. For equities, the most flow desks are doing exceptionally well. For more complex desks in equities, this year is a struggle.

 

Don't be a snowflake. I say this in a nice way.

If you want to climb you need to accept that your work becomes more like project management. You manage a few guys, you take care of the business, you drive initiatives.

When initiatives turn out good, make it clear to your management and fight for recognition (they need to hear you). 

Politics is just the long game. That's what the job is about. 

 

I wasn't in the industry in the early 2000s when things were all about taking risk. I think comps since 2009 have grown, but in 2009 I wasn't senior so what do I know...

 

Any advice on a banking career in SG vs HK in terms of lifestyle, WLB, exit opps, comp etc, which one is better in your opinion

 

HK remains #1 spot for careers in banking

 

Curious what ballpark compensations of MDs at bulge brackets are

 

We hire people from all over the world to come here. Visa is not a worry and English is the only true language requirement.

 

Could you talk more about the politics side of the business? As a Analysts/Associate, who are usually the key people for you to invest your time? Immediate VP/Directors/MD of your group? Does it make sense to network with other people in other areas?

Also, could you specify what politics means? How do you do it in the correct way? What does it include?

My previous role I had very little politics to deal with, I'm a little concerned with this aspect of the job

 

Hi, thanks so much for the Q&A. I'm curious about the desks in APAC. For example, I've heard that UBS's trading desks are quite powerful (but dont know which specific asset class is better) and Citi is strong at credit trading. Thank you in advance for any insight.

 

Hi, could you talk about exit opportunities from equities S&T, along with sales vs trading? Also are you in cash products or derivatives, or a mix? Thanks!

 

Possible, though no one will like if you come and try to move within the first few years

 
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can I please get an update on my hirevue status its been a month 

 

To my knowledge, prop trading firms don't usually pay that much. But I would imagine it's not too far off

 

We think it's important to improve diversity on the floor. Not as important to have financial background as you will learn on the job. People should become technical as they learn

 

1. What do you think about the current state of the market?
 I think we're at the beginning of a long bull run. I'm bullish on marijuana stocks right now.
 2. Do you think the industry will continue to grow? Why/Why not?
 Yes, I think the industry will continue growing. There's still a lot of room for growth.
 3. How would you describe the current regulatory environment?
 The regulatory environment is evolving. We've seen some good things happen recently, but there's still a lot of work to be done.
 4. Is it possible to predict what the future holds for the industry?
 It's hard to say. But I think we'll see continued legalization around the world.
 5. What advice would you give investors who want to get involved in the space?
 Investors should focus on quality over quantity. If they have a passion for the industry, then they should invest their time and money where they feel passionate about.
 6. Where do you see the industry going in five years?
 In five years, I think we'll see a lot of consolidation.
 7. What are the biggest challenges facing the industry today?
 We need to make sure that we don't create a situation where people are getting arrested for using marijuana. That's something that we really need to avoid.

 

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