Comments (32)

Jan 24, 2014

They're both very good firms and will look good on a resume. CS in SE Asia is in fact good and I know they're office in Singapore is really active. It sounds like you're naturally more inclined for the CS SG gig so take that. Can't really understand what the dilemma is.

"Yes. Money has been a little bit tight lately, but at the end of my life, when I'm sitting on my yacht, am I gonna be thinking about how much money I have? No. I'm gonna be thinking about how many friends I have and my children and my comedy albums."

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Jan 24, 2014

Though I totally understand, particularly having read a lot of this forum, that you're feeling the GS brand name over CS, it's a bit different in Asia and the brand premium of GS is not as high as in the US. As a non-chinese speaker, you'll probably be more likely to get the full time gig in singapore than the one in HK. I am suprised you got that internship in HK... but I guess they need some koreans too as I don't know about the size of their Seoul office / how much is run out of hk.... anyways, that's a bit all over the place, but I think you can go with where you think you fit cause GS (while still in a sense the best) does not have the dominance in terms of brand it does back home (my home... the states).

All that said if you want to go to the US at some point i'd go Gs.

Jan 27, 2014

Thank you for the insight. I was actually told by the interviewer that I'd probably spend about 70% of the time covering Korea and 30% in doing South East Asian deals at GS HK. Which I thought was kind of weird, because other interviewer also told me that the Seoul office is pretty big and actually handles a lot of the execution as well. As per your last comment, would GS HK be "much" better than CS Singapore if I do end up looking for FT in the states (which I'm not really considering at this point, but I would like to keep my options open)?

Jan 27, 2014

I interviewed for JPM HK as well. Did you interview in NY or Chicago and have you already received your offer?

Jan 27, 2014

Interviewed in ny and received offer last tuesday

Jan 27, 2014

Thanks. I interviewed in Chicago. How long after your superday did they get back to you with an offer?

Jan 27, 2014

What is the pay for a HK IBD analyst gig?

Jan 27, 2014

From what I hear it looks like the base is the same, bonus really depends on the firm but recently has been slightly higher than the Street, and there is also the housing stipend added to it

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Jan 27, 2014

As someone somewhat familiar with this, the choice should be pretty easy - CS Singapore. It's the most prestigious and you don't speak Chinese. It should be an obvious decision.

Jan 27, 2014

IBD gig in HK shouldn't be too far off compared to London/NYC. You might get less in terms of salary but with much more favourable tax rates in HK you'll probably end up earning the same if not slightly more.

Singapore on the other hand is a little lower from what I hear at the analyst level.

Jan 27, 2014
Jyung:

IBD gig in HK shouldn't be too far off compared to London/NYC. You might get less in terms of salary but with much more favourable tax rates in HK you'll probably end up earning the same if not slightly more.

Singapore on the other hand is a little lower from what I hear at the analyst level.

False, Singapore salaries are much higher. You don't know what you're talking about.

Jan 27, 2014

I guess I don't sorry. Would love to learn more though!

Jan 27, 2014
Sav:
Jyung:

IBD gig in HK shouldn't be too far off compared to London/NYC. You might get less in terms of salary but with much more favourable tax rates in HK you'll probably end up earning the same if not slightly more.

Singapore on the other hand is a little lower from what I hear at the analyst level.

False, Singapore salaries are much higher. You don't know what you're talking about.

Is there any reason that is the case? And would that be the same at both junior/senior levels?

Jan 28, 2014

Sav, rather than throwing out "You don't know what you're talking about" like a tool, why don't you provide some info (as others have so kindly requested)? I too have heard that Singapore 1st year analysts make below street (studied abroad there). Can you provide some examples of what a first year analyst might make?

"Yes. Money has been a little bit tight lately, but at the end of my life, when I'm sitting on my yacht, am I gonna be thinking about how much money I have? No. I'm gonna be thinking about how many friends I have and my children and my comedy albums."

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Jan 27, 2014

When did you get your offer from GS?

Jan 27, 2014

Got a call sometime early last week (Tuesday? Wednesday?)

Jan 28, 2014

You're a korean speaker? did you interview at MS? You need to work in a product group (I don't mean capital markets). You can do sponsors or M&A. I would take GS HK over CS Singapore for too many reasons to list.

Jan 29, 2014

I actually did interview at MS but did terribly at the superday (partly because I knew I had a few other offers by that point) and was put on a wait list. But I think the HR removed me from the wait list after I told them that I have received several offers from other firms...

Jan 29, 2014

but that is still good

Jan 28, 2014

1st years in Singapore don't make below street FYI - that is a misconception. The most common reason why they make less is usually lack of visibility in Singapore so when roundtables come about - they get no support. If you position yourself well, you'll get paid.

Stop worrying about what you make as a first year. The delta between buckets is meaningless anyway. Worry about where you'll get the best exposure / deal flow. Would you pay 10k to have a better opportunity? I sure as hell would

Feb 3, 2014

.

Jan 28, 2014

Generally, mobility at the junior level is still rather high. I have friends from GS HK who received amazing exit opportunities after their analyst stints; despite not having 100% focus on that certain region.

With respect to covering South East Asia, there is a slight undermining of how wide the diversification is in this region. Many of my peers who are/were involved in this area usually had an region where they executed most of their deals e.g. China, Indonesia, Vietnam/Thailand/Cambodia. Each country is usually extremely unique in her native language, culture and economic ecosystem - which makes it almost impossible to be a superstar across the countries.

Also, investment banking in Singapore generally does pay very well (usually above your usual US$70k plus great tax brackets) so my advice would be ignore the pay and focus on the intangibles.

Jan 29, 2014

Hi thanks for your input. What kind of exit opps can one expect from a GS HK analyst gig? Were they fluent Chinese speakers?

Jan 29, 2014

anyone else accept CS sing ibd? just did today

Jan 29, 2014

I have a friend who got a top BB NY offer after his GS HK gig.
As far as Mandarin is concerned, you will be fine as long as you are not staffed on the China team.
As previous thread mentioned, ignore pays and focus on the exit opps.
In case you do get an offer from MS HK, steer clear cuz the rate of return offers is ~20%.

Jan 29, 2014

You don't have to speak Mandarin to get staffed on great deals in HK. Even if you don't speak Mandarin or Cantonese, the staffing and types of deals you get are generally based on factors like your rapport with the staffer, how seriously your opinions and taken and just general randomness. I'd suggest you take the GS offer. Sure, the deal flow may be better at CS in Singapore (gathering from what's been mentioned as I have no idea) but it's a pretty small difference in pay at the analyst level as mentioned above, and has little bearing on the actual work environment. If you find the culture in each firm and experience in living both cities to be incomparable (or you simply don't care) the next thing you should look at is exit opps. The GS gig gives you way better exit opps all over the world (not to mention going for an MBA, even if you've only considered that for a moment) in various industries. GS aren't exactly dry in terms of deal flow and even if they are in 2/3 years it's way easier to jump ship to CS or another bank or even industries/sectors (PE, consulting, Asset Management etc).

The fact that you'r seriously contemplating this means you'r not a status whore and want to think through this rationally- the above is my assessment and rational advice on what you should do). Hope this helps, cheers.

Jan 29, 2014

Lots of people don't know what they are talking about. GS may have the name, but CS Singapore hands down. They have some of the top groups in Asia - extremely strong deal flow. I disagree with the above poster because strong deal flow translates a lot of responsibilities - the experience and exposure are definitely worth it, and PE firms know how strong CS Singapore is, and you can go anywhere after your CS gig. Plus, I am pretty sure you aren't worse off when it comes to MBA admission. GS HK is still decent, but CS has stronger dealflow and seems to fit you better.

Jan 29, 2014

What do you mean they have "some of the top groups" in Asia? As far as I know it's more of a generalist pool especially for junior bankers. And if dealflow is the measure here, wouldn's GS HK be better than CS SG hands down? I'm not trying to refute your arguments, but was just wondering where they were coming from / if there are any tangible evidences to back them up.

Jan 30, 2014

look, it's really simple here. If you prefer SE Asia deals, CS SG dominates the region - look at other Asia threads on this forum and you will find people saying the same thing. They have gotten asia deal of the year awards for massive deals like IHH IPO. With such a lean team, you are gonna get a lot of responsibilities I imagine. And yes, you are likely to get stuck with korean deals in HK because you are fluent in Korean and are the ideal person for them to place on Korean deals (plus banks especially GS HK like to hire people with different backgrounds to fill their analyst classes so that they are diverse and can do different deals) - the two korean friends I know at BBs in HK are staffed on korean deals all the time - PM me about that if you want to know more

Jan 31, 2014
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Jan 31, 2014