tanimola22:

^^
^^^^^^

Why not try INSEAD, Paris? Check if the course is done there. INSEAD is a big one globally.

Insead money is not beans o!Let me not kill my parents before their time.Besides virtually every school offering the grande ecole is well accredited and so i've pretty much narrowed down the schools i'll like to attend.

Omg! Am speechless, this is the best thread on nairaland, as in, (dnt knw wat to say),i salute u guys(sagamouth,jarule,ajanlekoko-4real,chambers,T22,nd odas),u're da bomb nd d boko's for real. You'v changd my mentality completely in every aspect esp. careerwise. i appreciate wat u guys av done, still doing nd wil continue do. God bless u.

Nice contributions

Good evening to every in this chat room . Just wanted to know what kind of exam IBTC investment bank company set for coppers during screening process , Gmat or Shl ?

^^

Which company wants to test you? Investment banks are numerous and have different testing methods.

T22

Don't know whether they have changed it, but when I wrote their test in 2006(for which I topped with 72%, passed interview, got the offer but declined) it was regular made-in-Nigeria test: word problem, antonyms, synonyms etc. Very simple. But that was when they were IBTCChartered, I doubt if they won't have changed it now that they are international bank.

Jarus, how much did they offer you at the time?

Good evening ,thanks for the reply . Been out of town. It is stanbic ibtc there investment subsidiary [wealth house ].

@ tan 22 ,can you please elaborate on
The method you know . Thanks

@all,
Please,i need a pre-nysc job at any investment bank in lagos,i'll be going for service by June and i dont want to waste those precious months till then(june). I just finished from lautech with a 2.1 in Accounting(b-tech). Please help a knowledge seeking individual. Thanks
asoxygen25@yahoo.com.

nitrogen:

@all,
Please,i need a pre-nysc job at any investment bank in lagos,i'll be going for service by June and i dont want to waste those precious months till then(june). I just finished from lautech with a 2.1 in Accounting(b-tech). Please help a knowledge seeking individual. Thanks
asoxygen25@yahoo.com.

hahahaha llol Knowledge seeking individual? That got me cracked up. You can always read books or many international journals on finance and accounting to seek knowledge. hahahahaha

Don't mind me sha. I know the move you are taking is great. What you are seeking is work experience in the investment banking world, and I think that is very fair enough for a JJC graduate like you. I hope you are willing to work for free too sha. If that is the case, and if you badly want to get investment banking work experience, then my advice to you will be as follows:

1. Go to all the investment banks in every nook and cranny of Lagos or, maybe, Abuja. Tell them what you have written here and, depending on your degree of seriousness, tell them that you are willing to work for free, only that you would be jocund if they could cover your transportation and lunch expenses.

2. Of course, before you execute step 1, you must first have a catchy CV listing your achievements till date and what value you can add to these banks, what you can bring to the table. Use the Internet as your guide in this regard; investment banking is different from the routine you do in accounting. In fact, accountants are back office holders in investment banks. So you would want to demonstrate that you know more than internal control and accounts balancing routine. A forum member named mycvlink can help polish your CV to meet standards.

3. Visit the websites of the investment banks that interest you. Look for the names of their heads of research or heads of investment banking, as well as their email addresses or even phone numbers sef, if possible. Call them up, or send them emails as a way of introducing yourself, stressing that you are willing to work for free to gain work experience. Then go to the banks in person and say you want to see these dudes or ladies you earlier contacted by email. The gate men may ask if they know you and are expecting to see you. Say yes, and then make it clear when you are filling out the visitor`s form that you were the one who earlier communicated with them by email or on phone. I know this strategy may not work 100%, but I am sure there is a 30-40% chance that it will work. It is much better than sitting there and hoping that something will work out when one has not tried anything.

4. Again, make sure you read up on investment banking before you start this journey. This will help you know what to say. One key thing that Naija investment banks do is underwriting. I will not explain this because I need you to research it yourself. The research of it will help deepen your understanding. Include in your CV or cover letter that 'underwriting is one of the areas of investment banking you find intriguing and really would like to explore'.

5. Don't go to these banks without a writing sample! They need to be sure that you know how to write clear English language (Yoruba or Igbo or Hausa or Ijaw will never help here); they need to be sure that you don't text-speak or text-write in formal write-ups; they need to be sure that you can spot and amend a poorly written report. Investment banking analysts do a lot of research and reporting writing. This is different from the routine done at the regular retail or commercial banks where average writing skills might not be a priority. Investment banks would want to be sure that you can string oyinbo sentences in writing. This is a yes, yes for investment banks O. Sell yourself in this area O.

6. On the whole, present yourself very well; write a well-thought out cover letter devoid of typos, and structure a concise CV highlighting the things you feel they want to hear (don't go overboard here O by saying that you know the art of capital raising. They will get you!). Document how you succeeded on a team, and what the success brought to the overall team. It does not have to be a work related experience. Anything well-thought-out will do just fine.

Below are emails of people you can quickly contact to signify your interest in gaining some experience in investment banking before your service commences.


careers@arm.com.ng
jude@investmentresearchng.com
careers@chapelhilldenham.com
ibd@afrinvest.com
"sales.trading" <sales.trading@zenithcapitalmarkets.com>, asset.management@zenithcapitalmarkets.com, capital.issues@zenithcapitalmarkets.com, careers@zenithcapitalmarkets.com

Look for more people and write them up and visit their offices and luckily land offers.

Regards,
T22

*******Send me an email with the subject 'investment banking' in capital letters. I have someone's number I want to give you, but you will prove to me that you are no armed robber (sorry for this harsh word). I visit nairaland more than I check the email, so you will do well to post here and say ´T22 I don send you the email O´-


Enjoy

nitrogen:

@all,
Please,i need a pre-nysc job at any investment bank in lagos,i'll be going for service by June and i dont want to waste those precious months till then(june). I just finished from lautech with a 2.1 in Accounting(b-tech). Please help a knowledge seeking individual. Thanks
asoxygen25@yahoo.com.

T22 replied.

@ymkz, thanks for the link.

@T22 I don send you the email O. i used another email sha. Thanks

chandler05:

@ tan 22 ,can you please elaborate on
The method you know . Thanks

Hi,

This response is coming late, and I sincerely regret that.

Em, you could be tested on GMAT, SHL or Kenexa. Most banks use only quantitative and verbal tests, but some may use logical reasoning. So you would want to be well prepared there as well.

You may visit the websites of SHL, Kenexa and Assessment Day. There are loads of test questions you can practice with. But before you sit the test of any bank, make sure that you know their test format. For example, that a person passes SHL does not follow that S/he will pass Kenexa.

I leave you to go and succeed, to go and grab the job.

T22

nitrogen:

@ymkz, thanks for the link.

@T22 I don send you the email O. i used another email sha. Thanks

Okay, good. My post got blocked.

tanimola22:

Okay, good. My post got blocked.

thanks, i got it.

@ sagamite, jarus, tkb417, ajanlekoko, and other NLand intellectuals, i salute u all. Thanks 4 all ur contributions so far on this hot topic. I joined ds forum over a year ago bt hardly visit until i stumbled ova ds topic via google. I've read thru d thread and whao, may be u guys can team up to form NBS (i mean Nairaland biz sch). Thank u all.
I graduated wt a first frm a highly quantitative specialisatn in business frm ABU and i've struggled till nw to identify an ideal career compatible wt my interest. Nw my vision and career path are clearer than eva. I luv ds IB stuff wt passion. I'm hell-bent on pursuing a career involving rigorous analysis & critical thinking. Ds is wt i'm good at doing. Currently participating in d NYSC scheme in a south-south state; hoping to pass out by june. I wonder if there is any way you can link me up wt one of these IBs. I'm smart, hdworkin, ambitious & av head 4 figures. I wld really appreciate ur guidance. Thanks seniors.

adevicks: @ sagamite, jarus, tkb417, ajanlekoko, and other NLand intellectuals, i salute u all. Thanks 4 all ur contributions so far on this hot topic. I joined ds forum over a year ago bt hardly visit until i stumbled ova ds topic via google. I've read thru d thread and whao, may be u guys can team up to form NBS (i mean Nairaland biz sch). Thank u all.

lol, nairaland business school!!!!

adevicks: @ sagamite, jarus, tkb417, ajanlekoko, and other NLand intellectuals, i salute u all. Thanks 4 all ur contributions so far on this hot topic. I joined ds forum over a year ago bt hardly visit until i stumbled ova ds topic via google. I've read thru d thread and whao, may be u guys can team up to form NBS (i mean Nairaland biz sch). Thank u all.
I graduated wt a first frm a highly quantitative specialisatn in business frm ABU and i've struggled till nw to identify an ideal career compatible wt my interest. Nw my vision and career path are clearer than eva. I luv ds IB stuff wt passion. I'm hell-bent on pursuing a career involving rigorous analysis & critical thinking. Ds is wt i'm good at doing. Currently participating in d NYSC scheme in a south-south state; hoping to pass out by june. I wonder if there is any way you can link me up wt one of these IBs. I'm smart, hdworkin, ambitious & av head 4 figures. I wld really appreciate ur guidance. Thanks seniors.

If my hunch serves me right, which mostly does in boring cases like something quantitative, then I think you studied Actuarial Science. If that is the case, then pursue professional actuarial science exams. Try one of CAS, SOA and IA. Although it is 10-20 times more difficult than the CFA or any other finance/accounting/insurance professional exams you can think about in this world, it offers more benefits. Don't neglect it for anything.

If you can pass the first few stages of any known professional actuarial exams, then companies from anywhere are more likely to start looking for you, even though you are based in Nigeria. A former university colleague who passed the first few stages of IA was hired by a a UK firm while he was in Naija. The job market for actuaries will continue to remain favorable. http://www.casact.org/newsletter/index.cfm?fa=viewart&id=6025. The salary is also very, very good and there is every likelihood that it will remain so. Do you know how many companies ran after my friend's friend who was already an actuarial associate in the US? The yeye dude was so book conscious and wanted to pursue a top PhD that he rejected all the mouth watery offers the companies made to him. And the said dude is not American O, he is one African egghead, one under 26-27 dude like that.

If you want a career that requires 'rigorous analysis & critical thinking', then look no further. If you are strongly quantitative and you believe in your ability to smash international actuarial exams, then look no further. If you can put in the effort and spend the required years to complete all the professional modules for the designation of 'actuarial fellow', then look no further.

Ultimately sha, the choice is yours, but I would not leave actuarial science for anything if I were in your very shoes.

T22

tanimola22:

If my hunch serves me right, which mostly does in boring cases like something quantitative, then I think you studied Actuarial Science. If that is the case, then pursue professional actuarial science exams. Try one of CAS, SOA and IA. Although it is 10-20 times more difficult than the CFA or any other finance/accounting/insurance professional exams you can think about in this world, it offers more benefits. Don't neglect it for anything.

If you can pass the first few stages of any known professional actuarial exams, then companies from anywhere are more likely to start looking for you, even though you are based in Nigeria. A former university colleague who passed the first few stages of IA was hired by a a UK firm while he was in Naija. The job market for actuaries will continue to remain favorable. http://www.casact.org/newsletter/index.cfm?fa=viewart&id=6025. The salary is also very, very good and there is every likelihood that it will remain so. Do you know how many companies ran after my friend's friend who was already an actuarial associate in the US? The yeye dude was so book conscious and wanted to pursue a top PhD that he rejected all the mouth watery offers the companies made to him. And the said dude is not American O, he is one African egghead, one under 26-27 dude like that.

If you want a career that requires 'rigorous analysis & critical thinking', then look no further. If you are strongly quantitative and you believe in your ability to smash international actuarial exams, then look no further. If you can put in the effort and spend the required years to complete all the professional modules for the designation of 'actuarial fellow', then look no further.

Ultimately sha, the choice is yours, but I would not leave actuarial science for anything if I were in your very shoes.

T22

Your hunches did serve you perfectly. Thank you for such experiential advice. If wishes were horses, i would definitely do exactly as you counselled but i struggled hard to even sponsor myself through my undergraduate. And this informs why i want to lay my hands on a job, at least, for now. However, i've secured an offer into Kent Msc Actuarial Science and i've applied for some scholarships. But you know these scholarship stuffs aren't guaranteed. So to avoid building castles in the air, a job for now and i think IB is a closer alternative. Pls can Jarus, TKB417 & co. add to this? Thank you.

^^^^

Keep pushing, you will definitely get there. The most important thing is to have a plan, then all others things shall follow. I would equally advise you get a job first, build professional network, experience, certifications and then proceed for an MSC/MBA.

Just this week i was invited by one of the major players in the naija IB industry. However, i was unable to attend due to distance, time and chance. I requested for a reschedule and they said they would get back to me soon. I am still waiting patiently.

IB is very interesting and challenging. I just picked interest recently, and i think that's all i need now. Send as many applications as possible, who knows you might be lucky and get called.

Another advantage you may have is your strong mathematical background. So, passing their apt test won't be much of a hurdle.

Best of lucks

@Chamber22,
I'm much grateful. Please any info on how I can link up with these IBs? I'm currently participating in the NYSC scheme in Cross River State & would be passing out in June. Thank you

chamber2: ^^^^

Keep pushing, you will definitely get there. The most important thing is to have a plan, then all others things shall follow. I would equally advise you get a job first, build professional network, experience, certifications and then proceed for an MSC/MBA.

Just this week i was invited by one of the major players in the naija IB industry. However, i was unable to attend due to distance, time and chance. I requested for a reschedule and they said they would get back to me soon. I am still waiting patiently.

IB is very interesting and challenging. I just picked interest recently, and i think that's all i need now. Send as many applications as possible, who knows you might be lucky and get called.

Another advantage you may have is your strong mathematical background. So, passing their apt test won't be much of a hurdle.

Best of lucks

Don't forget that BSc holders get employed as analysts while MBA holders get employed as associates. Moreover, associates>analysts. The chain is: Intern (School boy or recent graduate)--->Analyst(BSc/MSc)--->Associate(PhD or MBA with little to no work experience or BSc/MSc + at least 3 years work experience)---->Vice President(MBA + at least 3 years work experience or BSc/MSc + at least 6 years work experience)----.....----MD-

Depending on your previous work experience and the type of degree you hold, you can even talk them into offering you the position of VP After all, the former head of research at Vetiva Capital got to this level(head of research) with BSc economics, smartness and work experience. The same can be said of the current head of research at IBTC. Nothing is impossible.

All the bestest!

T22

T22,
U seem to know much about this industry. How can you be of help please?

adevicks: T22,
U seem to know much about these IBs. How can you be of help please?

Theoretical knowledge, yes! Practical knowledge, not as well as some of the dudes whose names/IDs you initially stated. You may want to contact them directly.

Meanwhile, I guess I can help with one or two pieces of information.

http://rengroup.com/careers/Student/ApplyNow/ApplyLagos/-Apply before April 30. They'll surely call you because you graduated in 2011.

careers@dominionng.com-Send a nice CV and cover letter as soon as you can.

http://www.sterlingcapitalng.com/index2.php?pageSt=32&url=submitresume&pCat=careers&all=c0c99f2ba0194659a3cfdc886b4b0854

http://arm.com.ng/images/stories/AYTP.pdf-These ARM people have a program for young grads like you. Apply before April 30.

Alexander Forbes Consulting Actuaries Nigeria Ltd, oyetunji@metrong.com - If you still like actuarial work.

More links should follow.

T22

T22,
do u have any info about meristem securities? Am scheduled for an interview on monday.

alanpozar: T22,
do u have any info about meristem securities? Am scheduled for an interview on monday.

Good to know that they are still in business. 2008/2009 was not a funny year for their staff.

Sorry I have lost memory of what I used to know about them. I have also lost contact with those that could have very good information.

Are you an experienced hire?

Good luck!

T22

@T22,
its an entry level position cos am currently a batch A corper. I wrote their test last week.

alanpozar: @T22,
its an entry level position cos am currently a batch A corper. I wrote their test last week.

Then you should expect the usual behavioral questions, brain teasers as well as trivial technical questions like what is a share capital, what is an IPO, walk us through the DCF method for valuing stocks, explain the DDM method, what key assumption(s) do these valuation methods depend on, what are the most reliable trading comparables, ratios, what is a securitized asset, when do you advise an investor to sell, buy, hold a stock, what are the qualities and challenges of an entrepreneur, explain underwriting, how does it profit an investment bank, what is a margin loan, what was the NSE all share index yesterday, tell me a stock you like and why, which industry dominated the Nigerian capital market yesterday, what was the closing price of Zenith stock yesterday, is the closing price of yesterday the same as the opening price of today for a given stock, correlation between stock returns and exchange rate, between stock and bond? Just prepare sha.

Be ready to also answer questions in your field of undergraduate studies. Also prepare for questions like 35*35, 11*52, square root of -4 and so on. A chick friend was asked the formula for the volume of a cone about 4-5 years ago. You may want to prepare for that and other mensuration formulas. What is a fixed point?

Other junior analysts may also be there, and those ones like impressing their seniors, so they are very likely to ask you technical questions based on what they are learning. I was guilty of this many years ago .

What is a stock, what is a bond? What differentiates a stock holder from a stock holder, what differentiates a preference stock holder from a common stock holder? Can you work under pressure? Explain!! What is a steep learning curve? What is a capital market? What distinguishes a capital market from a money market? Why, in your view, do you think physicists make the best investment bankers? Why did you study your course? How did you become interested in investment banking? Why Meristem? Why not your girlfriend/boyfriend? I am not joking here-

Let me know if you need help on how to do mental multiplication.

Do apprise us of the outcome of your interview. All the bestest!

@T22,
tanx a lot. U da bomb! I wud update the house after the interview. As 4 the mental calculations, i need help.