Chinese IBD or Hong Kong Boutique

I have been through the SA recruiting process for BB's HK offices and had no luck landing an offer after few Superdays. As a result, I spent a lot of time reaching out to boutiques in HK and banks in China, and now I have landed an offer from a leading Chinese securities firm's IBD (not CICC) and an offer from a HK boutique.

The Chinese IBD and is perhaps the leader in investment banking in mainland China at the moment with lots of deals. However, similar to many other Chinese ibanks, it runs a model that's distinctly different from the traditional approach adopted by international banks. I have done lots of research and found out that, at the junior level, the nature of work is entirely different from banks in HK/US and I need to learn everything from scratch (barely any modelling/valuation work, no comps, no DCF etc). Things are changing and becoming more market-oriented but it will take some time.

On the other hand, the boutique in HK adopts the international approach and I am much more familiar with it. The MD and ED also came from BB prior to working at the boutique.

Although I would like to work in China in the longer term, I am more interested in starting my career in HK and work there for 2-3 years before transitioning back to mainland. It would be great if you monkeys can shed some light on this and let me know what you think - appreciate it.

Many Thanks,


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Comments (8)

Jun 6, 2014 - 11:09am

First off, congratulations on securing both offers. You don't have to confirm, but it sounds like with the first choice you're talking about CITIC. If I were in your position, I would take the offer at the Hong Kong boutique and wait for mainland's market reforms to play itself out before plunging myself into the mainland. The skill development benefits that you mentioned along with your familiarity with an "international" approach means that the boutique is a great place to start off your career. Good luck with your decision!

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