Hello House,

I studied Economics in my under and currently studying for an MBA in a Uk uni with specialisation in Finance.Can I get into the IB market with this or do i need d CFA stuff. Actually I am not a fan to all these prof.bodies.

Is the CFA,ICAN,ACCA etc valued more than the MBA(Finance) in the IB market?

I have not really worked with spreadsheets,will i be trained on the job for this or do i need to undergo some private tutorials?

Pls i need clarifications.

Tanx

Take the professional qualifications seriously. They provide standards for measuring, updating and benchmarking your qualifications. Also, no proficiency in spread sheets, NO investment banking.

chamber2:

Hello House,

I studied Economics in my under and currently studying for an MBA in a Uk uni with specialisation in Finance.Can I get into the IB market with this or do i need d CFA stuff. Actually I am not a fan to all these prof.bodies.

Is the CFA,ICAN,ACCA etc valued more than the MBA(Finance) in the IB market?

I have not really worked with spreadsheets,will i be trained on the job for this or do i need to undergo some private tutorials?

Pls i need clarifications.

Tanx

work experience?

work experience?

I actually have no work experience in the IB industry and the one yr work experience i had before i left for my MBA was in a non finance industry.

chamber2:

I actually have no work experience in the IB industry and the one yr work experience i had before i left for my MBA was in a non finance industry.

In my opinion, it is actually quite hasty to do an MBA after a year's work experience.

Except you did an undergrad in a Business/Management degree and shined a million stars (ala scholarly level) to the point you needed to move to the next level (MBA), then there will be very little you can add with your MBA at an MBA employment level, and you will be too "over-qualified" for entry-level because you have an MBA.

MBAs normally fill Manager/Senior Manager roles with immense responsibilities and quick adaptation expectations (not really learning expectations).

You would have been better off doing a specialised qualification like CIMA or CFA at that stage of your life than an MBA.

Sagamite:

In my opinion, it is actually quite hasty to do an MBA after a year's work experience.

[b]Except you did an undergrad in a Business/Management degree and shined a million stars (ala scholarly level) to the point you needed to move to the next level (MBA), then there will be very little you can add with your MBA at an MBA employment level, and you will be too "over-qualified" for entry-level because you have an MBA.

MBAs normally fill Manager/Senior Manager roles with immense responsibilities and quick adaptation expectations (not really learning expectations).[/b]You would have been better off doing a specialised qualification like CIMA or CFA at that stage of your life than an MBA.

Fact!!!
Best post I have read from you, Saga.

Jarus:

Fact!!!
Best post I have read from you, Saga.

Wha!!!

You have not been reading my stuff enough.

Sagamite:

Wha!!!

You have not been reading my stuff enough.

You know, most times, you are unserious, although I ahve never doubted your depth. You can be very playful and sometimes quarrelsome 

Except you did an undergrad in a Business/Management degree and shined a million stars (ala scholarly level)

Thanks.
I am not really that super-intelligent even though i made a 2.1 in Economics.My decision to go for my MBA wasn't necessarily to take up mgt positions.I needed to understand how the business world works.I intend enrolling for the CFA program against December. I really need to know how to work with spreadsheets.Is it something i can learn on my own?I learnt one could get into the IB industry with an MBA,how true is that?


@Mr Jarus

I went through your blog and was really impressed at your depth of analysis.I sent you a request on fb if you wouldn't mind.

Thanks for the complements.
Given the tendency of some mischievous Nairalanders to scoop one's personal info/affairs on FB and splash it here, I'm always cautious to add just any friend on FB, especially anybody I suspect is from NL. But just send me the request and put a message that it's you.

@Jarus

Thanks.I will do just that.

Jarus:

You know, most times, you are unserious, although I ahve never doubted your depth. You can be very playful and sometimes overly and crazily quarrelsome 

Jarus, Jarus!

You are ever so polite and cultured.

I have corrected the sentence for you by amending to the taste of most. I am keeping it real!

chamber2:


Except you did an undergrad in a Business/Management degree and shined a million stars (ala scholarly level)

Thanks.
I am not really that super-intelligent even though i made a 2.1 in Economics.My decision to go for my MBA wasn't necessarily to take up mgt positions.I needed to understand how the business world works.I intend enrolling for the CFA program against December. I really need to know how to work with spreadsheets.Is it something i can learn on my own?I learnt one could get into the IB industry with an MBA,how true is that?

Ok.

But in my view, for the benefits of the upcoming youngies out there, it might have been better to do a professional course (e.g. CFA should teach spreadsheets sufficiently).

MBA is really ideal for someone with minimum of 4 years experience, ideally about 6 years even if trying to accelerate career path. Maybe less for someone with high level consulting background because they will need to be very versatile and would have experienced wide range of business tasks. They can get away with 2 years (strategy consultant) to 3 years (other consultants) experience.

Some of the things you learn on MBA are best understood, applicable and retained after experiencing them in real life situations. Experiential knowledge acquisition is more useful on MBA than theoretical knowledge acquisition.

Sagamite:

Jarus, Jarus!

You are ever so polite and cultured.

I have corrected the sentence for you by amending to the taste of most. I am keeping it real!

@Jarus, @tkb417, @Sagamite, @Ajanlekoko and all protocols observed,
Thank you for all the posts thus far. What a privilege to learn from the wealth of your knowledge and experience.

I need your advice.

I have a bachelor's degree in Physics but worked in the field of administration for the last 2 years after NYSC.

Without Finance background or experience, what do I need to do to get into IBs? I am very numerate and analytical. As a step forward though, I have registered for the CFA Level 1 - December 2011, started reading last November.

I will appreciate help because I strongly desire to get into finance field and start gathering experience and learning the ropes, not just textbook knowledge,

Thank you alll,

bukkytroni:

@Jarus, @tkb417, @Sagamite, @Ajanlekoko and all protocols observed,
Thank you for all the posts thus far. What a privilege to learn from the wealth of your knowledge and experience.

I need your advice.

I have a bachelor's degree in Physics but worked in the field of administration for the last 2 years after NYSC.

Without Finance background or experience, what do I need to do to get into IBs? I am very numerate and analytical. As a step forward though, I have registered for the CFA Level 1 - December 2011, started reading last November.

I will appreciate help because I strongly desire to get into finance field and start gathering experience and learning the ropes, not just textbook knowledge,

Thank you alll,

Hi,

You did not provide sufficient information like grades, uni and country you are resident in or targeting to work in.

So to be generic, most likely you will need a 2.1 degree or above.

If you are UK based and applying to UK firms, here is the list of the unis that most likely will get you into an IB:

https://www.nairaland.com/nigeria/topic-141689.0.html#msg4632089

There is a stronger chance if you attended the following six: Cambridge, Oxford, LSE, Imperial, Warwick and UCL. Approximately 4 out of 5 undergraduate degree hirers come from these 6 universities. The others in 07-15 position will give you a strong chance based on the ratios I gave further down that same thread and will match the last 2 in the 6 if you have a 1st from those 07-15 universities. https://www.nairaland.com/nigeria/topic-141689.0.html#msg4633974

If you are Nigeria-based and trying to apply to an IB there, maybe Jarus and tkb are best in advising you, but I will think since it is a qualifications-focused working environment in Nigeria, do your CFA and after level 1 start applying but know "somebody".

That said, it is pretty much a hard industry to get in across the world as it is easy money and there are loads of people trying to get in. Usually these people are both very intelligent and academically bright (there is a difference between the 2) than average applicants to most other industries and there are few positions available.

@Sagamite kindly advise me on the MBA program at the University of Derby.I am about making recommendations to a friend who has about 2yrs experience in a Nigerian bank and wishes to work in Nigeria post MBA.

Is the school worth the stress?Also,he can't really afford the fee for the top 20 uni in the uk.

Tanx

What are his reasons for doing the MBA? What are his plans after it?

What is he doing at the moment? 2 years in a bank doing what? Where is he hoping the MBA would take him?

chamber2:

@Sagamite kindly advise me on the MBA program at the University of Derby.I am about making recommendations to a friend who has about 2yrs experience in a Nigerian bank and wishes to work in Nigeria post MBA.

Is the school worth the stress?Also,he can't really afford the fee for the top 20 uni in the uk.

Tanx

Sorry, even though your question was meant for Sagamite, I'll contribute some early comments.
If your friend doesn't have a specific objective for the MBA, he should forget it for now. I think we're slowly moving back to the era where work experience may be more valuable than an MBA. Most people (especially Nigerians) see the MBA as some kind of leverage to get a high-paying job; I fear that leverage may not exist any more as many of the high-paying sectors are still in some sort of meltdown right now.

What are his reasons for doing the MBA? What are his plans after it?

What is he doing at the moment? 2 years in a bank doing what? Where is he hoping the MBA would take him?

He wants to leave the banking industry and move to a more managerial focused firm.Also he wishes to return after his studies and search for a job in the manufacturing sector like dangote etc or in other financial firms other than banks. He was a customer relations officer in one of the new generation banks.

Sorry, even though your question was meant for Sagamite, I'll contribute some early comments.
If your friend doesn't have a specific objective for the MBA, he should forget it for now. I think we're slowly moving back to the era where work experience may be more valuable than an MBA. Most people (especially Nigerians) see the MBA as some kind of leverage to get a high-paying job; I fear that [b]leverage may not exist any more as many of the [b]high-paying sectors are still in some sort of meltdown right now[/b][/b].

I think this is actually the best time to upgrade one's skills and knowledge.The economy is recovering from a meltdown and those who seize the opportunity to acquire more skills and knowledge will stand to gain when the economy finally recovers.This is because there will be an explosion of new challenging opportunities requiring robust knowledge and training.

"I think this is actually the best time to upgrade one's skills and knowledge.The economy is recovering from a meltdown and those who seize the opportunity to acquire more skills and knowledge will stand to gain when the economy finally recovers.This is because there will be an explosion of new challenging opportunities requiring robust

---

."


What are the opportunities for IB training in Nigeria?

What are the opportunities for IB training in Nigeria?

Well,i don't know the direction of your question.Do you mean opportunities currently available for IB professionals in Nigeria or future career directions in the IB industry?If you mean the later,I am currently not yet into the IB industry but think that there will be expanding opportunities in the area of Risk Mgt and assessment,Pensions adm,Regulatory activities etc.This requires further training and knowledge,for instance some organisations won't even in most cases consider your application if you have no postgraduate qualification e.g ARM etc.A friend of mine applied to SEC young professionals program but was not shortlisted because he has no pg qualification, this was what he told me.

Young job seekers are therefore confuse as in the requirements of these organizations,is it work experience,pg qualification,professional qua,grade or attending some expensive elite uni that these employers actually want? I still think rather than sitting at home doing nothing one should try an acquire more training and knowledge,it will be useful one day.

Hello, thank you for the quick response.
I have reviewed the syllabus of the Financial Institutions Training Centre and find much about IB training. Do you know of any institutions in Nigeria that can help me with upgrading my qualifications such as the [url=http://Investment Banking Institute]Investment Banking Institute [/url] http://ibtraining.com/ in the US.

Hello Chamber, thank you for the quick response.
"I have reviewed the syllabus of the Financial Institutions Training Centre and find much about IB training. Do you know of any institutions in Nigeria that can help me with upgrading my qualifications such as the Investment Banking Institute http://ibtraining.com/ in the US."

I meant I did NOT find much in the FITC syllabus

@Cyere

I think Sagamite will be in a better position to answer your questions.I am not yet into the IB industry but hoping to move in by next year.I am still in my incubation period.

I think Sagamite will be in a better position to answer your questions.I am not yet into the IB industry but hoping to move in by next year.I am still in my incubation period.
[quote][/quote]

Thanks Chamber.

Sagamaite, can you help with my question about training

chamber2:

He wants to leave the banking industry and move to a more managerial focused firm.Also he wishes to return after his studies and search for a job in the manufacturing sector like dangote etc or in other financial firms other than banks. He was a customer relations officer in one of the new generation banks.

I would think getting into a firm like Dangote will be as hard as getting into any IB firm. To really have a strong chance getting into such firms, one should be thinking of the following schools:

https://www.nairaland.com/nigeria/topic-141689.128.html#msg5714341

The reality is that, I don't think Derby is a strong school for MBA. Someone is better off doing a Masters in Management/Finance/Investment in the top 2 tiers of Universities on my league table, especially from one of those listed here:

https://www.nairaland.com/nigeria/topic-144468.0.html#msg2438211

For me, such MSc/MA qualification would be of more value than a Derby MBA especially considering the quality of his experience. He does not have a high quality of experience to get in a Manager role in a top firm, consequently there is hardly anyway he would be perceived as being able to contribute optimally, and going to a 5th tier MBA school will not help that perception. Getting into a top MBA might be helpful because it insinuates that despite not having the right experience, the individual is bright. Doing an MSc/MA or even a professional qualification would give him a qualification that can help with the next realistic level he can move to without a top MBA.

In my view, from what I know of Nigeria and the top jobs there, except he knows someone, if he goes to do a Derby MBA, he will just be another Nigerian youth wasting his time packing certificates without proper planning and foresight of what this would achieve.

Cyere:

Thanks Chamber.

Sagamaite, can you help with my question about training

I would not know about IB training in Nigeria as I am not based there and have never worked there.

I am yet to hear of anyone getting a job in IB in Nigeria by going to an IB training school though.

Most people in Nigeria go to good universities, get strong grades and mostly are top 5% of their class, and then interview strongly before being employed by Nigerian IBs. On the other hand, they are hired based on going to strong universities abroad (studied the right subject and/or have relevant experience) or are from a rich family and hence can bring business in.

Thanks, Sagamite

Didn't even know you can get accepted for an MBA without three years work experience as a supervisor/middle management level

Well,i don't know the direction of your question.Do you mean opportunities currently available for IB professionals in Nigeria or future career directions in the IB industry?If you mean the later,I am currently not yet into the IB industry but think that there will be expanding opportunities in the area of [b]Risk Mgt and assessment,Pensions adm,Regulatory activities etc.[/b]This requires further training and knowledge,for instance some organisations won't even in most cases consider your application if you have no postgraduate qualification e.g ARM etc.A friend of mine applied to SEC young professionals program but was not shortlisted because he has no pg qualification, this was what he told me.

IMO normal Masters degree would have been sufficient for these roles, MBA is overkill, though there might be better prospect of promotion

Dis Guy:

Didn't even know you can get accepted for an MBA without three years work experience as a supervisor/middle management level

There are places you can do MBA immediately after finishing university.

One correlating factor with such possibility is the quality of those places do not scream "top-notch".

@tkb417 and co. you guyz seem to be in the know about the happenings in the IB world.
I have just recently graduated with a degree in Economics and awaiting NYSC Batch A. I was hoping you guyz could put me thru on hw to get an IB gig for my NYSC. I am seriously interested in places like vetiva and BGL. I was also thinking I could send you a copy of my CV to give me some advice.
Thank you.

this thread is buzzin! *chillin on the sidelines as usual*

Mike_011:

@tkb417 and co. you guyz seem to be in the know about the happenings in the IB world.
I have just recently graduated with a degree in Economics and awaiting NYSC Batch A. I was hoping you guyz could put me thru on hw to get an IB gig for my NYSC. I am seriously interested in places like vetiva and BGL. I was also thinking I could send you a copy of my CV to give me some advice.
Thank you.

I did my pre-NYSC in Vetiva. These companies take corps members, subject to being posted to Lagos and passing their test. So go drop your CV, but they don't take more than 2 corpers.