Just one more reason to pursue Investment Banking
...........One thing that has not changed, however, is banker compensation. This year, workers at JPMorgan’s investment bank are on track to be paid, on average, about $389,000 per employee, up 4 percent from $369,000 per employee in 2010. Over all, the bank’s employees are poised to make about the same amount as they did in 2010 — an average of about $118,000 in salary, bonus, and other compensation. Star bankers and traders stand to reap millions. Extracted from New York Times...
Multiply by 140 and see the cash in Naira. People are earning this cash. A guy I know who left GTB is earning this cash as we dey talk so. By fire, by force, and by only His grace, I must enter this industry; we must enter this industry!
Yours truly,
Ighoeve
Re: Just one more reason to pursue Investment Banking
i dey feel you Oga Ighoeve!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Re: Just one more reason to pursue Investment Banking
@ighoeve,u n i both know our market is way under developed dan dat so,probably 4 those wishin to stay in nigeria we shuldnt expect dat much inspite of the fact dat it is real. Take for example wale tinubu MD Oando earns around 60m naira PA and dat is probably 1 of d most valueable firms in naija based on market cap n price multiples analysis. And frm my limited knowledge of naija market i know dat no investment bank(vetiva,stanbic invest bank,BGL,etc)in naija is as valuable as Oando.But if u re a "dreamer" like me dat wants to run out of dis country den d sky is ur limit bcos if u hear wat henry polsen(former goldman sachs CEO) earned ..............
Re: Just one more reason to pursue Investment Banking
@ighoeve, please keep the house informed when opportunities like that is out. One love broda
Re: Just one more reason to pursue Investment Banking
lol.....Ighoeve the offer is really tempting...I might just change my mind...but do not forget to add the other "packages" lonnnnnnnnng hours, weekends at work, endless deadlines and targets. But I just want to commend you. please keep up the goodwork. You really dont know how much blessings you are gathering for urself.
Re: Just one more reason to pursue Investment Banking
Quote:
Originally Posted by
babestell 
lol.....Ighoeve the offer is really tempting...I might just change my mind...but do not forget to add the other "packages" lonnnnnnnnng hours, weekends at work, endless deadlines and targets. But I just want to commend you. please keep up the goodwork. You really dont know how much blessings you are gathering for urself.
hey babestell,
yeah, you are right..but the targets are not `go and bring 1billion to our bank or go and look for customers' or go and attract dangote to us..nothing crappy like that..the target is mostly 'make sure you compute the EV and Eq.V and WACC of the 136 companies we want to value for our clients before 8pm today..in other words, the target is intellectually stimulating.. and the good thing is that, once u prove yourself as a star banker, u are made for life. kweku, the fallen trader at ubs, is an example.until his arrest, that guy led a life that his mates, even oyinbos, yes oyinbos, can only dream of.
nonetheless, i agree with u that ibanking is for the really smart and strong people. it is demanding. one must deliver, but the delivery comes with an accelerated career and a lot of $$$$..something which conventional industries don't offer.
yours truly,
ighoeve, SM
Note: SM is an accolade for a senior member on this forum. If you are a senior member, then signify your seniority status by putting SM beside your username in every of your posts.
Re: Just one more reason to pursue Investment Banking
Ighoeve just got info that JP Morgan Chase is coming to our own dear Naija and has already started recruiting. Can u help confirm this
Re: Just one more reason to pursue Investment Banking
Quote:
Originally Posted by
babestell Ighoeve just got info that JP Morgan Chase is coming to our own dear Naija and has already started recruiting. Can u help confirm this
I will ask HR next week and get back to you!
Re: Just one more reason to pursue Investment Banking
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Originally Posted by
babestell Ighoeve just got info that JP Morgan Chase is coming to our own dear Naija and has already started recruiting. Can u help confirm this
babestell, you are on point. They are planning on coming. This is good news. They will also be expanding to Kenya and Ghana. I will speak to their HR head and then report my finding to the house. But for now, the article below proves babestell's proposition.
JPMorgan sets sights on Nigeria
JP Morgan Chase (JPM.N) wants to open a full branch in Nigeria by next year and representative offices in Ghana and Kenya as it tracks its multinational clients into frontier Africa, its regional head said.
"We have a very good business in Nigeria but it needs to be deepened in terms of customer reach and broadened in terms of our product offering," John Coulter, the U.S. bank's Johannesburg-based CEO for Sub-Saharan Africa, told Reuters African Investment Summit on Monday.
"There's a lot of focus on Africa because our senior management sees a significant growth opportunity over the next 10 years and we're seeing our clients increasingly move here -- be that an Indian multinational or a German multinational."
Despite the attention paid to high-growth "frontier" markets such as Nigeria, Africa's most populous nation and its biggest oil producer, Coulter said relatively developed South Africa would remain at the heart of its regional operations.
"We would see South Africa as being absolutely core," he said.
"We see a lot of the growth in Africa being via or with South African multinationals. This is the right place to have an Africa hub, but don't think you can bank Africa by sitting in South Africa and doing it from your desk-top."
Ghana started pumping oil in December, attracting considerable investor interest, while Kenya is east Africa's biggest and most sophisticated economy.
JP Morgan has topped the fee-earning league tables among investment banks in sub-Saharan Africa for the last two years. In 2010, its $21.4 million narrowly eclipsed U.S. rival Morgan Stanley (MS.N), according to Thomson Reuters data.
Mergers and acquisitions formed the backbone of its revenues last year, but Coulter said JP Morgan's international clients were also demanding more basic transactional banking services such as foreign exchange and trade finance.
"If we can service our clients in Europe and in Singapore and in Vietnam and in Australia, we should also be able to service them in Africa," he said.
Rival Citigroup (C.N), which has a history in Africa dating back to the 1950s, has a full presence in about 15 countries and is looking at opening offices in three more markets to target rising trade between Africa and other emerging markets.
(Reporting by Ed Cropley; Editing by Jon Loades-Carter)
Re: Just one more reason to pursue Investment Banking
Now thats the kinda gist i want to hear....i wonder how they wil recruit
Re: Just one more reason to pursue Investment Banking
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Originally Posted by
babestell Now thats the kinda gist i want to hear....i wonder how they wil recruit
I promised to get back. Now, I am back.
My recent chat with them revealed that the exact date when the bank would commence business in Naija is not yet known.
As usual, I will keep the house posted if I hear´anything.
Yours truly,
IG, SM.
Re: Just one more reason to pursue Investment Banking
@ighoeve....wat do u major in for now....
Re: Just one more reason to pursue Investment Banking
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Originally Posted by
saheedowolabi01 @ighoeve....wat do u major in for now....
anywhere bele face..no particular major. i am just interested in anything that has the potential of bringing cash...it used to be oil for me. now, its ib.
