|
|
Rank: Frosh
Groups: Member
Joined: 5/18/2008
Posts: 22
|
Hey, Just a quick question. In the Schulich salary report, what kind of jobs fall under "finance", and what kind of jobs fall under "capital markets?" Thanks in advance for any help! Salary Report: http://ssb.yorku.ca/VISCaree.nsf/career/SalaryStatistics+Menu (Then Click BBA)
-99Konvictz scңuіcң ввα '13
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
Capital Markets looks like front-office banking roles (M&A, Sales, Trading, etc.). Finance is probably back or middle office type jobs.
-Stringer
|
|
Rank: Frosh
Groups: Member
Joined: 5/18/2008
Posts: 22
|
Thanks Alot ... Another question about jobs related to the trading industry. What role do they play, how long do they work, and how much do they make. Thanks in advance once again.
-99Konvictz
scңuіcң ввα '13
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
99Konvictz wrote:Thanks Alot ... Another question about jobs related to the trading industry. What role do they play, how long do they work, and how much do they make. Thanks in advance once again. Trading, as in the trading part of Sales & Trading within an investment bank? I'll assume that's what you mean. Traders basically execute trades for securities as requested by their clients. Traders tend to be quants and they require a deep understanding and feel for the market. Traders hours are probably about 10-12 per day, with minimal work on weekends because the markets are closed. How much they make depends on how good they are, their seniority, etc. Basically it starts at over 100k and goes into seven figures.
-Stringer
|
|
Rank: Frosh
Groups: Member
Joined: 3/31/2008
Posts: 44
Location: Toronto
|
You won't make it into Sales & Trading without an MBA and/or a CFA at minimum. MAYBE Sales but thats a long shot and Trading definitely not. If your looking to get into finance, either Investment Banking (M&A or financial restructuring) is your best bet to break into the Industry right from undergrad, just remember that most finance jobs right out of undergrad are extremely competitive.
|
|
Rank: Frosh
Groups: Member
Joined: 5/18/2008
Posts: 22
|
So basically, BBA, Investment Banking, MBA @ Some US Business School, then sales & trading?
-99Konvictz
scңuіcң ввα '13
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
urbyboy980 wrote:You won't make it into Sales & Trading without an MBA and/or a CFA at minimum. MAYBE Sales but thats a long shot and Trading definitely not. If your looking to get into finance, either Investment Banking (M&A or financial restructuring) is your best bet to break into the Industry right from undergrad, just remember that most finance jobs right out of undergrad are extremely competitive. This is not true. S&T recruits using the same process as IB. There are many undergrads in S&T, in both sales roles and trading roles.
-Stringer
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
99Konvictz wrote:So basically, BBA, Investment Banking, MBA @ Some US Business School, then sales & trading? No, you can go right into S&T from undergrad.
-Stringer
|
|
Rank: Frosh
Groups: Member
Joined: 5/18/2008
Posts: 22
|
Is Schulich A Good School for this?
-99Konvictz
scңuіcң ввα '13
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
99Konvictz wrote:Is Schulich A Good School for this? Ivey and Queen's are the top two schools in Canada for investment banking positions. All of the other reputable business schools are about on the same plane.
-Stringer
|
|
Rank: Frosh
Groups: Member
Joined: 5/18/2008
Posts: 22
|
So Can I go to Schulich for Year 1 & 2, then transfer to Western for Ivey for year 3 & 4?
-99Konvictz
scңuіcң ввα '13
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
99Konvictz wrote:So Can I go to Schulich for Year 1 & 2, then transfer to Western for Ivey for year 3 & 4? Potentially, yes. Just remember three things: 1) You'll need very good grades to transfer and even then there is no guarantee. 2) You'll be relearning many things because Ivey students are assumed to have no business knowledge. 3) You'll have to leave the life you built at Schulich behind and start over at Ivey which can be very difficult.
-Stringer
|
|
Rank: Frosh
Groups: Member
Joined: 3/31/2008
Posts: 44
Location: Toronto
|
I don't know what Bulge Bracket Bank you work at but mine definitely does not, or at least thats what two managing directors told us interns during our Lunch and Learn last week. Maybe its possible but the MD's just kept repeating that an MBA and/or CFA is becoming increasingly required and that they wont even look at resumes without them. They do however take undergrads for equity research which is strongly tied to Sales & Trading and where most traders start.
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
urbyboy980 wrote:
I don't know what Bulge Bracket Bank you work at but mine definitely does not, or at least thats what two managing directors told us interns during our Lunch and Learn last week. Maybe its possible but the MD's just kept repeating that an MBA and/or CFA is becoming increasingly required and that they wont even look at resumes without them. They do however take undergrads for equity research which is strongly tied to Sales & Trading and where most traders start.
Where do you work? MBA really has nothing to do with S&T, but it's obviously an entry point because of the talent pool. Basically every investment bank hires undergrads into S&T positions.
-Stringer
|
|
Rank: Frosh
Groups: Member
Joined: 3/31/2008
Posts: 44
Location: Toronto
|
My initial statement was to generalized, I appologize. It really varies depending on what firm you work for. These two MD's giving the presentation were asked what was needed to get into S&T and they said MBA and/or some level of CFA.
|
|
Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,814
Location: Wilfrid Laurier University
|
urbyboy980 wrote:My initial statement was to generalized, I appologize. It really varies depending on what firm you work for. These two MD's giving the presentation were asked what was needed to get into S&T and they said MBA and/or some level of CFA. To be honest, that's false. S&T SAs don't have any level of CFA and certainly no MBA.
-Stringer
|
|
Rank: Frosh
Groups: Member
Joined: 3/31/2008
Posts: 44
Location: Toronto
|
Many SA's in S&T are in between their first and 2nd year of completing their MBA....If you google it I will bet you will find that some firms require MBA and some do not. In any case, back to the original question, you can break into the industry from schulich and Ivey, you may have a better shot at Ivey but like Stringer said its difficult to switch and a tough decision to make as it requires you to leave behind everything you have built up over your first 2 years in University, trust me I just made the switch.
|
|
