LBS 的mba vs MASTER IN FINANCE

qingcao

Kevin:

Thank you for your insights.

1). For McKinsey, what is general accept rate for Chinese applicant of MIF?

2). For people without previous experience in financial industry, is it almost mission impossible to find a job in private equity/venture capital? Have you heard any successful case so far?  

icbcbj

for your questions:

1. for chinese applicants, very low

2. yes

kevinao

Thanks to icbcbj,

1) there are few mif interested in mckinsey. 1 in 2004 and 1 in 2005 joined mckinsey China. i heard at least 1 mif2005 rejected mckinsey and choose an ibank in london (don't ask me why)

2) pe/ve tend to recruit people within the same industry, corporate finance in ibanks, or transaction services team in big 4. i heard some in big 4 joined PE, but their pay is not high, mainly CNY30K/month. PE is difficult to enter, but i don't think mif are interested in such offer.

any way, no matter what you did before, there is no guarantee to enter PE industry. It's really very difficult. If you don't have ibanks, consulting or big 4 experience, it's almost mission impossible to join PE.

站在水的中央

finally got the offer today. have to start thinking about whether it is really worth it to pay 28k.

So my question is that do many Chinese graduates of MIF get into I-banking in London provided that they can sort out the VISA thing by themselves and have a few years' experience of I-banking in Chinese bank? I know this is a question that is too general, but I just want to know the figures, or other people's experience.

icbcbj

以下是引用kevinao在2006-3-2 21:58:00的发言：
Thanks to icbcbj,

1) there are few mif interested in mckinsey. 1 in 2004 and 1 in 2005 joined mckinsey China. i heard at least 1 mif2005 rejected mckinsey and choose an ibank in london (don't ask me why)

2) pe/ve tend to recruit people within the same industry, corporate finance in ibanks, or transaction services team in big 4. i heard some in big 4 joined PE, but their pay is not high, mainly CNY30K/month. PE is difficult to enter, but i don't think mif are interested in such offer.

any way, no matter what you did before, there is no guarantee to enter PE industry. It's really very difficult. If you don't have ibanks, consulting or big 4 experience, it's almost mission impossible to join PE.

actually, McKinsey is a very good firm. Why few MiF guys got its offer was not because they were not interested in it , but for the fact that usually consulting firms are not interesed in MiFs.

That MiF guy who rejected Mck applied for the Asia House program of Mckinsey...it is more like a traning program...so the base pay is not very high...even quite low compared to the postions in IB firms...that is why he took another offer ....Another MiF lady joined MiK China team...yes...but she has particular backgroud...so...do not put her in the statistic sample...

Above, for MiF students....it is quite difficult, if not impossible,  to touch consulting industry...of couse...still one or two luck MiF guy said bingo with the offers of McK in 2005...

About the Private Equity issue....i bet 90% MiF students are interesed in the industry....but....unfortunately...that is too hot and tough....

But....this year...the market in London is fantastic....I would not worry that every single MiF could land a job finally....i said finally....that is exciting.....  

[此贴子已经被作者于2006-3-3 11:28:32编辑过]

qingcao

Thanks Kevin and icbcbj:

How about private equity division/group within i-bank? From what I read the GS has a separated Merchant banking/private equity division, while ML has its private equity group within Investment banking division. It seems GS hires new graduates for analyst and associate positions in this division. So I am wondering in those cases, are the hiring requirements similar to those of IBD instead of other pure PE firms?

kevinao

GS PE should be extremely difficult to join. Unless you are very confident about your background (e.g. Harverd undergraduate, GS IBD/Mckinsey etc), otherwise just forget it. One MiF joined PE division of one eupean Ibank in HK last year, but that's related to the industry he worked in Shanghai. About 8-9 MiF last year joined PE, and most of them have PE experience or have industry background that PE need.

amazingsummer

IB backoffice有哪些工作呢？这些工种的起薪大概多少呢。front office是不是就research/sales之类。

说IB会给entry-level associate发sign-on bonus（10K-30Kpounds），这种现象普遍吗？在中国学生身上发生过吗？

[此贴子已经被作者于2006-3-6 18:13:12编辑过]

kevinao

middle/backoffice jobs should offer lower pay and much lower bonus. these jobs include accounting, operation, IT, system control. product control, risk management, credit control etc. Normally MiF will only take product control/risk control funtions since they are more related to business. Front office include IBD (IPO, M&A etc), capital markets (fixed income, derivative etc), research etc.

I think sign-on bonus is normal for IB and consulting firms.

amazingsummer

以下是引用kevinao在2006-3-6 19:14:00的发言：
middle/backoffice jobs should offer lower pay and much lower bonus. these jobs include accounting, operation, IT, system control. product control, risk management, credit control etc. Normally MiF will only take product control/risk control funtions since they are more related to business. Front office include IBD (IPO, M&A etc), capital markets (fixed income, derivative etc), research etc.

I think sign-on bonus is normal for IB and consulting firms.

dear shixiong, thank you for your info.......

let all of us strive for front-office to get sign-on bonus, higher pay, and much higher year-end bonus......