I got two offers, one is Royal Bank of Scotland, algo trading analyst; the other is Nomura, Equities Sales....
Which one should I take? I know algo trading is very hot now, but it's like narrow down...while equities sales can easily move to other positions....
Anyone has some suggestions? Thanks.
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do you want to work in trading or sales? there's another thread that was recently started about GS Sales v Barcap Trading go check it out
http://www.wallstreetoasis.com/forums/barclays-vs-gs
I actually like both, I have worked in both desks....what I am concern more is about the future.... In terms of brand name, which one is better? I am not sure how much brand name will affect my later job hunting....
Um, you guys in the US don't understand quite how much of a shit-show RBS is... think Citi x 10 in terms of how screwed the institution is. 84% state owned! Hello!!!!!
I would never work for RBS, not in a million years.
I actually am not sure how much it will affect individual after it's 84% owned by government....think Merill was also bought by Bank of America...but nothing much changed inside....hmm....i might be wrong....
You make a good point, so many people on this site make such a big deal over how well a bank is performing when in reality it has just about zero effect on the life of the analyst. Furthermore, as an analyst looking into exit ops, nobody is going to blame you for your bank sucking. Your analyst experience, skills and compensation will basically be the same no matter how your bank does (with the only exception being deal flow, which will have something of an effect). Also, it's still prestigious to get into ANY of these places, it's not like anybody can just wake up one morning and decide to work for RBS, there is such crazy over demand for these jobs. I'm tired of people saying how you shouldn't work for Citi because X factor isn't in their favor, or that working for UBS is like a death knell.
That being said, I make a special exception for RBS. RBS is fucked at such a high level that it's practically on its death bed. The bonus structure is horrendous, and there are rumors swirling (rumors mind you) that they will scrap cash bonuses altogether, even for analysts (and replace with stock bonuses). When you take also into account recent UK government laws governing the compensation structure of investment banks, I can only say that unless you have no other offers, stay far far away from RBS.
Also a lot of peole in the US don't realize Nomura isn't that bad. I would take Nomura.
BAML got rid of any government stake, RBS on the otherhand is still as screwed as AIG in the US and majority owned by the government.
I would take Nomura which is up and coming and working hard to build its franchise, rather than RBS which is unlikely to ever get back to where it once was.
in before bespoke tries to defend rbs
go for nomura
Thank you so much for everyone, they really help :)
Dude
I am serious - I live and work in London. RBS is a familiar beast, and it is one that is so fatally wounded that I can promise you your experience will never be as good as even Nomura. Why? The talent is / has left RBS in droves. The bank can't hold on to anyone good and the UK government has no idea how to influence the management of the business.
Citi is the closest analogue but, as I said before, nowhere, and I mean nowhere, near as bad. You must remember - RBS as a markets business was never BB quality anyway - it was built off the back of Natwest Markets and ABN AMRO primarily (although feel free to correct me re. US businesses). This was not on a par with any of the other Europeans (ABN arguably was ok) but most certainly not in the same league as the big US players.
Nomura is a safer bet, a growing business, no major institutional risk (yet) and willing to pay for talent.
This should be the standard answer to all questions regarding working at RBS from now on, just insert "random bank name" in place of "Nomura"
my both offer are in Hong Kong....but I think I've already got an idea...thanks again
I have a follow up question, what about the "hot" algo trading desk in RBS? what if I work here for some time first (1year-2year?) and move to other good banks?
Nomura is up an coming. Great company culture too I picked up on during an interview.
Nomura is huge in Asia and Europe, after buying Lehman over, and they recently appointed the 1st non Jap as a C-level executive, who is bent on expanding investment banking operations in US. Nomura definitely is a good choice, strong and still growing...
Nomura is the only company I know of where the CEO of European Operations (Sadeq Sayeed), himself, did the presentation for on-campus recruiting. That was awesome.
I wish I had gotten the chance to interview there.
They appointed Jesse Bhattal as president of the wholesale division, but the appointment is just a charade to stop the blood letting of ex-Lehman bankers. Nomura culture outside of Japan offices is much like the Lehman era particularly in HK and London however.
That said, I would take Nomura over RBS.
I know a bunch of top execs at RBS that went to Nomura, BNP here in Tokyo.
So if RBS top heads are going to Nomura that should tell you something.
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