Merchant banking (1 Viewer)

[santaslayer]

Originally posted by t & co.
gm,

Just wondering why you'd need commerce/law?

finance, accounting/law always go well together, if u can handle the workload at uni.
in terms of finance , u will always be referring to the law in your daily activities, just like in some accounting divisions. eg. Tax and Law division in Ernst & Young usually require people who did BComm (Accounting, Finance)/ B Laws degree holders. Although, it has been known in Ernst & Young that they have recruited arts/law people in the tax and law diviosion as well.

this is probably a follow up on gm's previous post, highlighting his points...

 

[santaslayer]

so yea one question from me.......Where do all the Asians end up?...LoLz

 

[alman]

Originally posted by Isaaq
Fast forward 30 years and I think you'll find that a lot more of the top positions in finance companies will be held by those with an asian/indian background (this is just my own theory). I don't believe this because of racial bias - it's purely a statistical theory - asians form the majority in commerce/finance related subjects and they form the majority of graduates. Hence, they will hold a lot more top positions in the future.

i think that racial bias will still exist in the next 30 years (or whatever future time). i dont expect that many asian/indians to hold top positions of any firm...maybe be few but they will not dominate....thats my opinion, and im asian myself (ive said it before)...isaaq, its sounds nice theoretically but in practice, its so much harder..

all the asians end up in the looney bins.just kidding.i think a lot of them actually start their own businesses. for example, restaurants, cleaning services, those types

another reason i think its true, many of the asian/indians are being "forced" to do commerce-related subjects by parents...its not where their heart is...theyre going to either remain in the low ranks (lack of enthusiasm) or do their own thing (reference to above paragraph)

 

[gm]

Hey i forgot to say - A bulge bracket bank, is one of the larger investment banks...

UBS, Macquarie, Deutsche, JP Morgan, Morgan Stanley, Goldman Sachs...

As for asians dominating the finance industry... I disagree. Asians make good programmers, actuaries etc... They have minds which are very good for mathematics...

As for entrepreneurial ability, ability to socialise etc, i think the europeans have the crown.

Of course there are always exceptions...

Alman makes a good point that alot of asians and indians are pushed into commerce by their parents...

Alman,
I'm mates with a Research Analyst for one of the country's top institutional brokers... He's a seriously clever guy... Him and I are both Buffet followers, and we discussed the theory in relation to the Australian market...

Basically, Buffet invests in both private and public companies in the US, the US has something like 48% of the world's total exchange investment opportunities... We have 1.8% in Australia... So both my mate and I, find that you hardly ever find a company that buffet would love to buy, you find parts of one, but hardly ever the complete thing.

One company i like is Cabcharge (CAB), good financials, 95%market share, no debt...

gm

 

[alman]

gm...u mean buffett, not "buffet" just a minor point, thats all

i look at companies that are little debt and have high returns on equity and capital..then i focus on the competitive advantage..there are a few public companies i would love to takeover in the ASX as long as management stays..im not going to name any (i have the same policy as buffett regarding public investments)..

when you talk of things like total exchange investment opportunities, it kinda boggles me - im not into those technical terms...all im going to say is focus on the competitive advantage of the company....there's a good site www.capatcolumbia.com its got useful things about securities analysis at columbia, where buffett met ben graham....

i have to admit CAB looks like a good investment but i dont think their growth is that sustainable...i have talked to a few cab drivers and they say CAB treat them like dirt (in a more offensive way)...that kind of put me off...also their annual reports are a bit too glossy for me (peter lynch tip)...i dont like money wasters like that...

gm, if you wanna talk, dont hesitate to PM me...im more than willing to discuss

 

[t & co.]

What's the workload like in comm/law?
Is it realli demanding?

And what's the selection process for working in a major bank?

 

[Minai]

Originally posted by t & co.
And what's the selection process for working in a major bank?

Visit the major firm's websites, specifically their Careers section
usual graduate recruitment programs have several stages, ie Resume screening, group interview, group activities, long interview with manager/partner

 

[santaslayer]

Originally posted by t & co.
What's the workload like in comm/law?
Is it realli demanding?

Nearly all unis for comm/law are the same for first year.....(exception is NEWY law, they follow a different program i think)

for me, in the first year...

Semester One:

28Cps-17 Hours of uni
---------------------------------------------
Semester Two:

32cps- 16 Hours of Uni !
----------------------------------------------------

so as you can see, the contact hours at uni is suprisingly low, the cps and hours are grossly disproportianate!
Workload is typically 25% higher then a single degree......(Source: SMH: CAMPUS 2004 Tertiary Education Guide, Weekend Edition, Dec 20-21,2003)

 

[SoCal]

Originally posted by gm
To work at a bulge bracket bank, which is something like Goldman Sachs, Macquarie Bank, UBS etc... you really would want combined Commerce/Law from USYD or UNSW, majoring in Finance and/or Accounting... You'll want atleast a D average as well...

Wouldn't something like a B Finance/B Laws be better suited than a B Commerce/B Laws? Which would be better, a B Finance/B Laws, B Commerce/B Laws, or a B Economics/ B Laws, or doesn't it really matter? Also, is a Bachelor of Laws essential, or just highly regarded?

Finally, if I did a Bachelor of Finance, which would be the best major to do, Business Finance, or Quantitative Finance, and what is the difference between them?

 

[SoCal]

Originally posted by fitz33
if you were an evp or above at macquarie you'd probably be earning 500k+ pre-tax

EDIT: you'd also have no life

What does "evp" stand for?

 

[fitz33]

Originally posted by Merethrond
Wouldn't something like a B Finance/B Laws be better suited than a B Commerce/B Laws?

at most unis you study finance within a commerce degree (i.e. you do a BCom and major in finance)

 

[fitz33]

Originally posted by Merethrond
What does "evp" stand for?

executive vice president

 

[SoCal]

Originally posted by fitz33
at most unis you study finance within a commerce degree (i.e. you do a BCom and major in finance)

You can do a straight Bachelor of Finance at Newcastle University though, so would I be better off doing a B Finance/B Laws or a B Commerce (major in finance)/B Laws?

Also, just to add to my previous post, the reason why I am wondering what would be the best major sequence to do (Business Finance, or Quantitative Finance) is because (well there are two reasons):

1. If you combine Finance with Law, you can only do the one major sequence; and
2. If I want to do the approved courses for Senior Associate membership of the Australasian Institute of Banking and Finance, I have to do additional subjects that are not a component of the core subjects or either of the major sequences. Hence I could only complete one major sequence, and the approved courses for Senior Associate membership of the Australasian Institute of Banking and Finance, and some electives to complete the final subjects required for a degree (that is if I was to do a single Bachelor of Finance degree) If I were to do B Finance/B Laws I could only do one Finance major sequence and hence would have to go without Senior Associate membership of the Australasian Institute of Banking and Finance.

Well that was quite a post, I hope everyone can understand it.

Originally posted by fitz33
executive vice president

Thanks.

 

[alman]

what is your opinon on Chartered Financial Analyst (CFA) program? i hear its quite a reputable thing...and would it even be useful?

 

[gm]

Okay...

Commerce or Finance... doesn't really matter... You'll learn the most when you get the job...

Just do what you enjoy, and what you'll think you'll really excel at.


Reputation wise the CFA isn't that great here, but if you'd like to work overseas, it's very useful. It's big in the UK and the US.

I know two guys who are doing it, a broker and research analyst - the research guy works for Moodys and they're sending him to London, they recommended he do the CFA.

As for content, it looks like a lot of time consuming work, but it's quite interesting

It covers really all parts of finance - quant analysis, econ, accounting, derivatives, arbitrage etc etc etc...

I'm hoping to do it when i'm out of uni...

Oh, Australia's answer to the CFA is the SIA postgrad...

What sought of work do you want to get into when you're out? What do you study? (to Alman)

gm

 

[Malazn Pleasure]

Originally posted by Left-ism
what majors/subjects to get into merchant banking.
Im doin B.Commerce

economics n banking n finance

 

[SoCal]

So it wouldn't really matter which major I did. So, you for interest, would you mind telling me what the difference between Business Finance and Quantitative Finance. I am thinking that Business Finance is geared more toward the Finance required to run a business, but am not sure about Quantitative Finance?

Secondly, is it essential to combine Commerce/Finance/Economics with Law, or is it just highly regarded? Also, if I didn't get into a combined Law degree (which is highly likely), which other two degrees would it be best to combine, or again doesn't it really matter?

Next, is Senior Associate membership of the Australasian Institute of Banking and Finance worth doing?

Originally posted by gm
Reputation wise the CFA isn't that great here, but if you'd like to work overseas, it's very useful. It's big in the UK and the US.

So how do you go about getting this accreditation?

Originally posted by gm
Oh, Australia's answer to the CFA is the SIA postgrad...

So, basically if you are wanting to work in Australia, aim for the SIA Postgraduate course, and if you are wanting to work abroad aim for the CFA.

 

[SoCal]

OK, if no one can answer my questions (I can understand, I have so many) can someone lease answer just these two? Is it worth getting Senior Associate membership of the Australasian Institute of Banking and Finance. Secondly, is membership of the Australian Society of Certified Practising Accountants or the Institute of Chartered Accountants in Australia helpful in the banking sector at all? Thanks.

 

[gm]

Hey,

sorry i missed your questions...

Quant finance involves alot of maths, maybe a financial model... business finance is more related to accounting....


For the memberships of the associations...

They don't mean much... in IB if you perform well, you're good.

Just get really good marks in what you do, try and network, show initiative, maybe even do some post grad SIA....

 

[alman]

Originally posted by gm

What sought of work do you want to get into when you're out? What do you study? (to Alman)

really sorry for the late reply, ive been really really busy with uni work...but yeh..onward peoples..

i think you mean sort as opposed to sought..a minor matter...
i want to continue my investment management business and perhaps grow a little by obtaining more funds...but probably work for about 5 years with an investment bank/fund manager (with emphasis on value investing)..such as maple-brown abbott..

im studyin comm/law at usyd...if that helps any more (i doubt it)...