Next summer (Southeast Asia vs. GCC)
Hi everyone,
I'm already planning for next summer. I would appreciate your input on where I should go next summer. Before someone starts a scathing reply, I'm not some unsecure person who cannot decide for himself. I like both options equally as much. I just don't know which is better down the line. I would really like to have a summer/co-op term stint at a BB/top boutique either in London or in NY, and seeing that I am an international student, I would really need to impress them to be worth the work permit hassles for them to go through.
IBD in Indonesia vs. IBD/Corp. fin. at Saudi Arabia's top IB.
I know this might sound crazy or an outright lie, but I'm currently working for a very large family-owned conglomerate in a special team selected by the chairman of the company. I am actually getting to do work that affects the performance of the company and my advice is considered as much as anyone's in the team, so it's not some Coffee internship. I met the chairman during my previous internship (IB) while on a pitch with the MD and I guess he was impressed by what and how much I knew given my age (even though I still think it wasn't much) lol
So what's the smartest choice? Southeast Asia or GCC?
P.S. before you get your panties in a bunch, things work a little differently in Saudi. IBD at most, if not all, banks is very small. Like 1 or 2 analysts type of small, so you get to spend a lot of time with the seniors, and they're generally much nicer than the NYC/London/HK MDs I hear about on WSO. No calling at 9 pm to make sure I was there kind of BS.
My vote is for Saudi Arabia.
What's your nationality? If I'm not wrong, all BBs and even reputable Asian banks e.g. HSBC, Stanchart who do IBD work for Indonesian clients are based out of Singapore.
Both are equally prestigious provided you're working for the same level of firm. Neither is NYC, London, HK, or even Dubai, Singapore.
My vote's for SE Asia though: Better looking people, much more fun (Bali?!), diverse international experience.
lol "better looking people". I've been to Indonesia more times than I can count, but on that point I must disagree. They are as equally good looking as Saudis. Bali is 1.5 hours away from Jakarta.
I just might end up doing the stint in Indonesia, to add a little flavor for my next move...Brazil! BRIIC, gotta have'm all! lol
what do you want to do post graduation? work in the GCC or South East Asia? decide on that basis.
Post-grad London or NYC.. if I can land it, that is. If not, HK (even though I doubt that it's going to be any easier). Last option would be Singapore (again..if I can land it), since I can speak Indonesian quite fluently and its very similar to malayu. Trying to stay away from Dubai/Riyadh/Jeddah for now, might consider moving there later.
Depends on the industries you'll be working in and what you enjoy the most.
I did an IBD internship in India in college where I worked on financial services deals in Indonesia - I'll just say it's a very interesting country with a lot of growth potential. The government (like Saudi Arabia I would suppose) it pretty involved in the private sector because their oil money allows them to provide subsidies for tons of things. As well, indonesia has started to grow a fairly large start up sector.
Personally I see the financial services industries moving towards Asain-based clients (not exclusively but in some industries and certain IB groups). I think you could get some great experience working out there.
on a side no, if you're born and raised in the US regardless of your choice it will most likely be 2 weeks before you understand what people are saying on the other end of the phone.
Isn't the MENA region banked heavily from London ... you'll find it difficult getting sponsored unless you are studying there.
I'm studying in Boston currently. I've seen and contacted atleast 15 KFUPM finance grads who did internships at BBs in London. 1 out of the 15 landed a full time offer, but that's only because the 14 really weren't up for it (they're not too bright on the relationship side of things, and some couldn't stand the hours when they actually experienced them).
To answer your question (was it a question?), no. Except for the highly complicated products that you rarely find buyers for over here.
I am guessing you are talking about Bin Laden Group or Kingdom Holding Group? Both are top notch.
Damn. Good guess haha. One of these two. What really pulled me away from lounging around the beach for the summer was getting to work for the chairman and have your work submitted to him...which I hope I can leverage into an IB opportunity with his help and clout :P lol
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