BB IBD Lateral Hiring / Exit Options / Office Transfers in Asia

Hi all - first of all, I would like to thank the WSO community for being a helpful resource during my recruiting process for investment banking. With WSO's help, I have been fortunate enough to secure a FT offer from a BB in Asia. Recently, I have been thinking a lot about my short-term career plans and would love to get WSO's inputs.

I will be joining a 2nd-tier BB (think Citi, UBS, Barclays, BAML) in their Hong Kong office this August as an IBD analyst. Been spending a lot of time brainstorming on whether I want to stay in banking for the long run, and if not, what I want to do after. So far, I THINK my long term interest lies within buy-side, whether it is public equities (mutual fund / hedge fund) or private equity. In addition, I have also been pondering on the possibilities of lateralling to a top-tier BB within the region at the 6-month or 1-year mark, or transferring to an US office within my bank at the 2-year mark. Despite doing some research online and talking to people within the industry, I still have a few unanswered questions and would love to get WSO's inputs / advice.

Buyside Recruiting
- Is PE recruiting process in Asia as structured as it is in the US?
- Does it go through headhunters? If so, which are the headhunting firms in the region that work with mega funds?
- What are the interviews like for PE recruiting? How can I best prepare?
- Are there many Hedge Fund / Mutual Fund exit opportunities within Hong Kong?
- How is the compensation for PE / HF / Mutual Funds in Hong Kong?

Lateral Hire to other BBs
- How does the process work? Should I be reaching out to peers who work in other banks, so I could be updated when there are openings?
- What are the interviews like for BB lateral hiring interviews?

Office Transfer
- Without a US citizenship, is there a possibility for me to move to a US office within my current bank in 2 years?

MBA placement
- How is MBA placement from BBs or PE firms from HK offices?
- What can I do in the coming 4-5 years to best position myself for MBA application process?

Hoping to get inputs / advice from WSO members who have had relevant experiences / exposure. Thanks in advance!

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (9)

Feb 25, 2015 - 7:39pm

@"Jadwa"

I was a SA and received a full-time offer. I currently attend a target school in the US. And most BBs would recruit from here. Went through the standard phone interviews / superday, and was fortunate enough to get the SA offer. In terms of my mandarin, I'm somewhat fluent but not native, but enough to get through the interview process. Please let me know if you have any additional questions!

@"noname111231111"
Thanks for the support!

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Feb 25, 2015 - 7:46pm

That's great, congrats! In fact, I did an exchange program in HK and attended some IB events where I was told Mandarin is mandatory to get a job in M&A. It's another story for S&T..

Best Response
Mar 3, 2015 - 11:59am

Bump + 1! In the exact same boat (2nd-tier HK IBD in August) and curious.

From what I gathered in HK, PE is a lot more unstructured overall (not sure about Mega-funds but definitely with MMs and would be country/sub-region specific). I.E. China-focused shops may prefer ex-consultants due to operations focused PE in the region (since majority ownership is limited with SOEs and debt capital markets aren't very sophisticated).

Being unstructured also makes commenting on everything else much harder I.E. compensation. Heard about IBD compensation being just as competitive as PE in the region as PE firms do not continue the relocation package. But this is obviously variant among shops I'm guessing (BB/megafunds vs MM, whether relocation packages continues in IBD).

Definitely interested in some other perspectives though. Seems to be a relative lack of recent info on HK in general.

May 28, 2015 - 11:32pm

Saepe quasi rerum facere. Nostrum id harum sequi id et voluptatem. Et nihil recusandae neque dicta. Incidunt sit voluptas quis assumenda id quia molestiae. Expedita optio labore excepturi quos illo in. Quasi vitae est debitis voluptate neque autem dolorum quia.

Et sint debitis debitis. Reiciendis voluptates quis aliquid facilis quis incidunt libero neque. Sint rerum sequi sit molestiae aliquid. Corporis et repellendus corrupti dicta sit. Nobis aliquam adipisci in saepe dolore sit.

Start Discussion

Total Avg Compensation

September 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (38) $367
  • Associates (218) $232
  • 2nd Year Analyst (130) $153
  • 3rd+ Year Analyst (30) $147
  • Intern/Summer Associate (102) $144
  • 1st Year Analyst (483) $135
  • Intern/Summer Analyst (375) $82