Download presentation
Presentation is loading. Please wait.
Published byMartha Holland Modified over 6 years ago
1
Armenian State University of Economics Yerevan, Armenia
Careers Lecture Thursday 7 December 2017
2
Presentation Structure
A bit about me (Bruce Hearn) and my background…. What is an Investment Bank? Pros and Cons of a career in Finance How to search for jobs in Finance industry Useful tips….
3
A bit about me (Bruce Hearn) and my background….
4
Career…… 1999 – 2001 Worked full time in Operational Risk Management at BNP Paribas while completing 2 year MSc International Business at night time college of University of London 2001 – 2002 Operational Risk at Bahraini investment Bank ”Gulf International Bank” 2002 – 2003 Quantitative analyst/ trading strategy programmer 2006 – 2008 Market Risk at Calyon (Credit Agricole) while completing PhD at Kings College London
5
Structure of Investment Banks
Major investment banking divisions include: Investment Banking Intermediary between the capital markets Advice and analysis on M&A and Capital Structure Equity and Fixed Income Underwriting Asset Management Provide asset management services to investors and institutions Sales and Trading Sales and Trading of Equity (Stocks), Fixed Income Securities (Bonds), Derivatives (Options). Research Provide research on public stocks and bonds
6
Structure of Investment Banks (continued)
I-Banking Division (IBD) Asset Management Sales & Trading Research Industry Groups Corporate Finance Product Groups M&A High Yield Debt Capital Markets Equity Capital Markets Private Client Services Work with High Net Worth Individuals Buy and Sell Financial Securities and Derivatives Analyze all Public information in order to give advice to investors and sales and trading group
7
Examples of Careers: ”Trading” (BNP Paribas)
8
Pros and Cons of a career in Finance
9
Money – high compensation and bonuses Blue chip brand on CV
Pros Money – high compensation and bonuses Blue chip brand on CV High level of skills and efficiency Highly useful transferable skills – for example to ”transfer” to another firm (as part of your longer term career) or your own entrepreneurial start-up Professional vocational qualifications (CFA, ACCA, CIMA as well as further academic credentials – such as MBA or specialist quantitative Masters degrees)
10
Very long/ extreme working hours
Cons Very long/ extreme working hours Normal day starts in office at 6am Normal day finishes in office at 12 midnight (or entertaining clients) 6 day working week (including Saturdays) Risk of ”burn out” casual observation is Investment Bankers & Financiers are young (under 40 years old)
11
Academic Research into unusual places…
Academic Research into unusual places….. (in 2001 a research trip to Namibia followed by a televised conference of my research in South Africa)
12
Followed by Academic Publications in Research Journals
13
What is an Investment Bank?
14
Structure of Investment Banks (continued)
I-Banking Division Asset Management Sales & Trading Research Product Group Industry Group (Corp Finance) Manage funds for institutions and individuals Private Client Services Equity Capital Markets Debt Capital Markets High Yield Debt Equity Fixed Income Derivatives Economic Equity Fixed Income M & A Consumer Products Technology Telecommunications Real Estate Utilities Health Care Retail Consumer Products Technology Telecommunications Real Estate Utilities Health Care Retail
15
Jobs in Investment Banking (continued)
I-Banking Division Asset Management Division Research Analyst Analyst Senior Analyst Portfolio Manager Product Group Industry Group (Corp Finance) Equity Capital Markets Debt Capital Markets High Yield Debt Mergers & Acquisitions Consumer Products Technology Telecommunications Real Estate Utilities Health Care Retail Assistant Analyst Research Analyst Analyst Senior Analyst Assistant Analyst Research Analyst Analyst Senior Analyst Research Analyst Analyst Senior Analyst
16
Examples of Careers: ”Operations” (Goldman Sachs)
17
Examples of Careers: ”Investment Banking” (Goldman Sachs)
18
Examples of Careers: ”Derivatives” (BNP Paribas)
19
How to search for jobs in Finance industry
20
Graduate recruitment programs
Paths for graduates…. Graduate recruitment programs Only take a tiny tiny fraction of graduates Despite the glossy brochures and online websites Headhunting/Recruitment agencies Major source of recruitment into firms Direct application to companies Equally a major source of recruitment although this involves Human Resources and not hiring line managers Careers/Job fairs/forums Smaller segment but similar to graduate recruitment
21
Graduate recruitment programs
These are most well publicised recruitment tools Glossy brochures overwhelmingly dominate careers offices of universities Ultra-sleek websites Events include 5 star bookings of hotel suites for presentations and even events in bespoke training ”villages” such as Deutsche Bank in Frankfurt Only one problem – it accounts for a tiny fraction of a percent of overall graduate population!!!!
22
Headhunting/Recruitment agencies
Pros – these deal directly with line manager (cut out HR altogether except for formality) Pros – often highly experienced in recruitment markets, know ”how to sell”, and ”know their clients needs Pros – often can quickly match candidate with approriate job – based on skills and ”personality fit” Pros – excellent CV and interview advice Cons – You need relevant work experience to be attractive to them
23
Examples of specialist headhunters
Robert Walters (a FTSE100 firm): Morgan Mckinley: Robert Half International: Walker Hamill: Hays Banking: Michael Page US and London: Nordic:
24
eFinancialCareers: City Jobs (UK):
…..and useful careers websites (based primarily on recruitment consultancies) eFinancialCareers: City Jobs (UK): …..usefully you can sign up to these websites and receive s every day with lists of new graduate-level jobs posted
25
Direct application to companies
Pros – handling experienced HR personnel This can often lead to their giving you very tailor-made advice Pros – cost effective for companies to rely on such direct recruitment as it cuts out the additional costs of headhunters/recruitment consultants (this often amounts to thousands of pounds) Cons – rigorous emphasis on relevant work experience Cons – you do without the sales skills of recruitment consultants/headhunters in negotiation
26
A caveat…… How do you get around ”relevant work experience” requirement? …. This is a huge problem Answer – really do your research…… Talk to everyone you possibly can about what life and working conditions are like in various divisions and industries Research what different divisions actually do using internet Read up as much as you can Ultimately know as much as you can about your desired areas
27
Careers/Job fairs/forums
Many companies see these as a prelude to formal graduate recruitment process Pros – easy to interview and meet many companies within a matter of a few hours Pros – good to get better idea of company culture Pros – fascinating insight into other candidates you are competing with (know your market type idea) Cons – only the very beggining/start of a process that is ultimately continued at the company itself
28
Examples of Careers Fairs
Latin American (and Spanish speakers): Japanese-speakers: Continental Europe and Scandinavia: UK:
29
Useful tips….
30
Interview and general advice
31
Do your research on department or bank you are applying
From prior research gain a solid understanding of products used From prior research thoroughly understand/be fluent in differences between your ”chosen” department and other related departments So……for example……what is difference between ”credit risk” and ”market risk” or ”FX risk” Tailor-make your CV and application for *each* individual job you apply to - - DO NOT simply use ”standard” versions Obviously this means *a lot* of work on your part….
32
If you don’t have relevant work experience in. that. area……
If you don’t have relevant work experience in *that* area…….then highlight those skills you do have that are of relevance Be open minded to gaining valuable entry level experience first that will ultimately lead to you obtaining a graduate role in your next round of applications/job hunting Finally……be persistent – it does pay off Good luck……
Similar presentations
© 2025 SlidePlayer.com Inc.
All rights reserved.