US vs. UK vs. Asia - starting out in S&T
in another thread I asked about some opinions towards two graduate programs in which I got admitted, LSE MFin & CMU MSCF, which would ideally set me up for BB S&T, where CMU would be good for US (NY) and Asia (HK/SGP), and LSE for UK(LDN).
But what I would like to get your view on here is: If you were to start your career in S&T today (or in 1-2 years) and you had free geographical choice, where would you start out?
Things to consider are probably:
- business volume
- exit opps to buyside (ideally credit- or macro-related fund)
As to where I personally want to end up in - I don't really have a preference since I have studied on all three continents in the past and I pretty much liked each of them.
The thing about Europe is, the whole debt situation seems to start getting out of hand, and who knows which country blows up next to Greece... Also, the regulation is getting stricter (crazy to think about how much time today is spent on dealing with regulators); and with the whole LIBOR scandal going on, I think it really does no favor to the banking industry. Lacking growth remains an ongoing concern too.
US seems to be better off than almost anywhere in the world right now, but the question is how long is that gonna last. Regulation is an obvious concern and I think one would be foolish to think that sellside S&T is not getting hit quite hard. Although US BBs seem to have ramped up their analyst hiring recently, while cutting back on experienced hires (probably just to cut cost).
Asia - especially Hongkong and Singapore: traditionally the argument seems to have been "get the training in NY or LDN and then move to Asia, since the market and infrastructure is not well developed for starting out there". I spoke to an associate director at CMU another day and he sounded quite confident that the training in HK/SGP today can be just as good as the developed financial hubs, since a lot has happened during the last 10 years (he was a former BB trader working in SGP as an American, before retiring in 2007). And what's attractive in my mind to Asia too is, the market place is still evolving and until every major Asian economy has adapted an established insurance system, there should be considerable potential for further capital market expansion.
Any opinions and suggestions would be highly appreciated, especially if you're working in S&T in one of those regions.
p.s. Background: European engineering undergrad, internships, tri-lingual (so no language barrier in HK/SGP)