General Discussion: Central London recruitment agencies for IB, any recommendations?


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JaiRo
JaiRo avatar

1135 posts since 28/11/06

11 Sep 2007 23:23
doodle_duck_dandy wrote: Yeah I know just having fun. Smiling The person I know did it in the 80's in new york.

I've considered it but I dont have the personal skills, backroom modellers dont get the massive bonuses.

What Im thinking of is, even if you get entry into the BO role, be able to persuade the company into supporting you for further qualifications whether its FSA, CIPFA etc. once youve establish a position there, so say, after 12 months or so.

Then go to a company party or whatever and find out who works in front office, make mates and then theyd be able to pass on your details!

Of course, a heck of a lot easier said than done but at least its a plan.
If not, then at least you can just work on, gain more experience in wealth management, credit analyst, derivatives, risk etc and set up or partner with some to create a business.

Granted that bonus scheme isnt as great as the front office but I dont feel the need to be there, then again, my feelings could change when I get a position within a company.
xos
xos avatar

1073 posts since 5/12/03

11 Sep 2007 23:26
middle office –> fo - possible if you're special
back office –> fo - almost unheard of
Hello World
Hello World avatar

12100 posts since 7/3/05

11 Sep 2007 23:27
Greed can have a strange effect on people.
JaiRo
JaiRo avatar

1135 posts since 28/11/06

11 Sep 2007 23:27
sox, no Im not, Im oriental and have specs (although I only really need them whilst driving at night or at the cinema) so that should give me the stereotype of being intellectual.

Yeah, I have those in check, I used 2 free cv reviews sites and they said my CV is pretty good and that it has qualities that make me stand out as a candidate.
First time I even used it though my CV got dissed big time lol.

If I dont get anything within a fortnight to three weeks or after the next 20 applications, Im going to get some paid help on the CV.
JaiRo
JaiRo avatar

1135 posts since 28/11/06

11 Sep 2007 23:29
Middle office is taking part in front office roles or assisting with front office tasks but the main responsibilities remain in a back office role.
xos
xos avatar

1073 posts since 5/12/03

11 Sep 2007 23:33
take a look over at www.harrisoncareers.com

heard good things but they're expensive and they may cater for fo applications. not had a look at the site properly myself

i think they offer a cv checking service.

owned by peter harrison, was a big dog at GS I think
JaiRo
JaiRo avatar

1135 posts since 28/11/06

12 Sep 2007 20:18
sox wrote: take a look over at www.harrisoncareers.com

heard good things but they're expensive and they may cater for fo applications. not had a look at the site properly myself

i think they offer a cv checking service.

owned by peter harrison, was a big dog at GS I think

Cheers.
suki2shoes
suki2shoes avatar

892 posts since 6/10/04

13 Sep 2007 17:09
ive just started at Barclays Capital, well 8 weeks ago now straight from uni

badenoch and clark are the best agency ive ever dealth with + they deal with a lot of top tier IB banks.

if uget a a job through them, let me know, ill tell you my name and we get 150 quid each aswell.

www.badenochandclark.com
good luck.
doo888
doo888 avatar

1042 posts since 8/7/03

13 Sep 2007 19:55
JaiRo wrote: Thank sox, on the IBtalk site now.

I don't know anyone in IB so I'm screwed on that count. I dont fit the in the bracket youve mentioned either.

I definitely know its difficult to get into but its something I want to do and feel I have the potential for perform wicked in.

Dont mind long hours in all honesty, thats a minor. Been looking at Wealth Management and being doing some self study in the 4 main areas (Equities, Derivatives, Fixed Income and FX) so I have a bare minimum knowldge of those areas (least its something to talk about in an interview).

Thanks for posting up lads, keep talking.

Any more sites, any other literature, agenices etc, keep them coming.

Hudson, Michael Page etc. are the usual big recruitment agencies..

What did you read at university?

IB is far and diverse, what area do you want to get into? Structured products is a world away from M&A.
JaiRo
JaiRo avatar

1135 posts since 28/11/06

13 Sep 2007 21:25
suki2shoes wrote: ive just started at Barclays Capital, well 8 weeks ago now straight from uni

badenoch and clark are the best agency ive ever dealth with + they deal with a lot of top tier IB banks.

if uget a a job through them, let me know, ill tell you my name and we get 150 quid each aswell.

www.badenochandclark.com
good luck.


Thanks. Just PM your name mate and when I apply, I will put your name down for recommending me to the site.

doo88 wrote: JaiRo wrote:
Thank sox, on the IBtalk site now.

I don't know anyone in IB so I'm screwed on that count. I dont fit the in the bracket youve mentioned either.

I definitely know its difficult to get into but its something I want to do and feel I have the potential for perform wicked in.

Dont mind long hours in all honesty, thats a minor. Been looking at Wealth Management and being doing some self study in the 4 main areas (Equities, Derivatives, Fixed Income and FX) so I have a bare minimum knowldge of those areas (least its something to talk about in an interview).

Thanks for posting up lads, keep talking.

Any more sites, any other literature, agenices etc, keep them coming.

Hudson, Michael Page etc. are the usual big recruitment agencies..

What did you read at university?

IB is far and diverse, what area do you want to get into? Structured products is a world away from M&A.

I read a mix of topics but I would say that all the business modules I covered, can be related to the job such as Databases, Maths and Stats, Corporate Strategy, Accounting and others.

I would like to get into Wealth Management but will obviously need to do other roles before I get that and Im fine with it. Most, if not all positions for new entrants into the industry will be at an analyst or clerk level in operations so Im pretty much stuck to that but its ok.

If I dont get anything by the end of next month, Ill just have to spend an extra year in retail banking (argh) and hopefully whoever employs me, will pay from some extra studies. Then after a year, I would have a years experience, extra professional qualification and will re-apply into IB or a grad scheme.

The grad schemes are quality though. A girl in my class got a 1st in sports and business and was accepted onto the Loyds grad scheme. Starting salary of 30k, 5k hello bonus, free laptop and phone, discount on mortgages and an extra 5k for training purposes should she wish to study at the same time.

HOW COOL IS THAT?!

Sol
Sol avatar

12241 posts since 17/3/03

14 Sep 2007 09:39
A mate of mine is an investment banker with Deutsche-Bank. He's been there two years now and you are right about the crazy long hours. When I saw him last weekend he said it was worse at the moment due to market problems.


My brother is trying to get into the same sort of thing and failed as a graduate with computer science from a top uni. He is now doing a masters and some kind of financial qualification so he can try again.

Its majorly competitive.
doo888
doo888 avatar

1042 posts since 8/7/03

14 Sep 2007 20:57
There are 2 types of recruitment styles in banking; good degree regardless of subject from a good university - in order of preference this would be Oxbridge, LSE, IC, Durham, UCL, Bristol, some of the 'Red Bricks' or an excellent degree in, again, in order of preference, Economics/Finance/Maths/Law/Physics (or computer science if going into IT) from a not so prestigious university. Of course there are exceptions, but that's the general gist of it.

If you're in a clearing bank at the moment you could try and get into their respective corporate/investment/pwm arms; Barcap/wealth, RBS GBM, HSBC CIBM/Private Bank, Abbey/Santander Fin. Markets, and so on.

Do absolutely shit loads of reading in the area you're targeting. If you're going into structured products they're not expecting you to know Black-Scholes like the back of your hand or for M&A, hardcore financial modelling/dcf but a basic understanding helps a lot. Business acumen and interpersonal skills are going to be v.important, the latter esp. so if you intend on getting your teeth into PWM.

If you want a front office position, don't get stuck in the back office. You're not going to get anywhere if you're stuck in pure administration, settlements et cetera, with no contact with other departments.

HTH.
Hello World
Hello World avatar

12100 posts since 7/3/05

14 Sep 2007 21:12
Would you be too old to start from stratch at 29 / 30? Back office only.
JaiRo
JaiRo avatar

1135 posts since 28/11/06

15 Sep 2007 00:57
Thanks for posting guys.

I spent pretty much the whole of today creating a whole new cover letter from scratch and just putting on the agency sites now. Changed the CV round a bit as well.

Hello World - my mate is going into back office himself and is 28. Hes had a few interviews for wealth management and is getting supported for a CFA should he be a successful candidate but I think its up to level 2 (out of 3).

Even though the back office role is no where near as well paid or has the potential to earn as much bonus' as the front office, you can still make a fair amount in it and be should we say, minted.

I myself would like to get to middle office before kicking it in and go self employed.
Hello World
Hello World avatar

12100 posts since 7/3/05

15 Sep 2007 01:06
I think it would be a good challenge.
JaiRo
JaiRo avatar

1135 posts since 28/11/06

15 Sep 2007 01:22
Ah it will be mate, you got to stay on your game all the way through. I mean, if your an average good worker and there happens to be a collapse or instability in the certain area of the market your in, your going to get the sack. Its as simple as that.
doo888
doo888 avatar

1042 posts since 8/7/03

15 Sep 2007 14:27
JaiRo wrote: I mean, if your an average good worker and there happens to be a collapse or instability in the certain area of the market your in, your going to get the sack. Its as simple as that.

But you'll be getting a huge amount of compensation for it!