Hey guys - I am researching a business idea and want to better understand junior banker's / private equity experience with outsourcing a portion of their work load to India (or wherever else work is outsourced).
1) Does your firm offer outsourcing capabilities for lower level work (trading / transaction comps, profiles, combining spreadsheets etc.)?
2) If yes to #1, how has your experience been with outsourcing? Do you find it valuable/does it save time?
3) Would it be more valuable if you were in the same time zone as the outsourcer and could contact via instant messaging/phone instead of e-mail?
Appreciate the feedback!
Bump
If you’re looking to contribute to or start a business that outsources investment banking work I don’t think people on this forum are interested in helping you do so. I’m certainly not haha.
Firstly, college students like yourself weren't the target of this post. Given that you have zero experience in investment banking, let me educate you.
Every major investment bank utilizes outsourcing in some capacity to help accelerate work product. When I was an analyst (not too long ago), I found India to be very useful. From a business perspective, it makes sense to outsource low-level work such as trading comps to India.
If you ever become a banker, you'll understand the large quantity of bitch/bullshit work you'll have to do and how doing so is an inefficient use of time and therefore money.
so your exit opp was outsourcing bitch work to India? what bank were you at lol ill cross it off my list
“Please provide me free market research so I can make money by outsourcing your jobs.” lmao
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Yes, I found this to be true as well for a lot of projects I worked on with India...do you think it was a time zone issue? Or maybe poor service?
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Appreciate the anecdote. Yeah I had similar experiences with India too, but you learn to start giving them lower priority work and that makes them more useful.
I would argue that outsourcing, in theory, is a logical business decision, but it isn't currently being executed properly.
glad I could help. take care
They always over-promise and under-deliver
Yup, they do all our comps and profiles. Also price updating books, etc. you def have to double check but I hit send and go to sleep and worry about it in the am. I heard CS uses them for literally everything
Was at a top BB, and trading comps / transactions and a huge amount of other PPT bull sht got sent over to them.
There is not a play to outsource it to a 3rd party contractor -- they were in house employees of the bank. Far too much sensitive info for Bank A to be sending to a general contractor who also happens to do work for Bank B C and D.
Also lmfao at all the college kids giving you sht. This trend was already happening ~3-4 years ago when I was an analyst and will only accelerate with remote learning and infrastructure getting better and better.
My biggest issue tends to be communication, sometimes I really suffer to understand them
Time zone is not an issue normally, but the amount of help we get is usually too low, we have to book their help in advanced and that definitely is a problem when we work on time sensitive projects
No time issue. Actually helps they work overnight. Quality varies. For standardized stuff, they tend to be better than in-house analysts. For other stuff, it’s a matter of luck.
We have problems with weekend work
My firm doesn't do it, but I would payto get some of these things done for sure.
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