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How to get to the investment bank
If you are a local undergraduate or graduate student, majoring in economics and from a prestigious school, you can generally apply for a summer internship first to achieve the purpose of admission. Of course, there are also many examples of direct recruitment without internship. Economics includes but is not limited to finance, financial management, accounting, enterprise management, etc. The word prestigious school is vague and controversial. We take the past three successful examples as the standard, including Peking University, Tsinghua University, China Europe International Business School, Fudan University, Shanghai Jiaotong University, Shanghai University of Finance and Economics, university of international business and economics and China Renmin University. This is because the limited number of international investment banks determines that if you study law and enter the investment bank directly, it is difficult to rely on your own professional standards because of the lack of background, because professional restrictions are a disadvantage in the first round of resume screening. Then, as law students, the possible ways to enter the three universities include but are not limited to the following: by improving the GPA of undergraduate courses, at the same time, strive to work in first-class foreign-funded enterprises after graduation, take GMAT directly after 3-4 years of work, and apply for MBA from famous American and British universities or HEC, INSEAD Business School in France or well-known domestic business schools in Central Europe, etc., and the proportion of these business schools entering the three universities is very high; If you don't have the financial strength to study for an MBA, you can consider studying for a Ph.D., preferably TOP 10 (There is no denying that there are excellent people in other schools, but after all, there are not as few students studying in the United States as in the 1980s, and horses from second-rate schools who are brave and harmonious can also have a good chance. When opportunities are scarce, a diploma from a famous school is useful when knocking at the door. A successful example is DAVIDHU who works in GS. 7K; _\u00 14q\u0006Hcs-o)Y engaged in legal work after graduation and entered professional foreign-related non-litigation business. Law firms specializing in capital market-related businesses, such as Shanghai, Tianjing and Jiaotou, strive for practical contact with several projects. At this time, through the contact with the intermediary team, you can show your ability, improve your character and accumulate three connections. It is worth noting that many of Chinese mainland's Big Three have JD degrees from the United States, such as Li Xiaojia. Lawyer FREDCHANG entered DP after taking JD in Columbia University, and then jumped to GS; Wang Zhonghe was a senior plasterer, and later he entered Manti Li. Although the former is a great local government bond, after all, it is the peripheral business of investment banks, but it is indeed a good transition. So did COLUMBIAJD, JH's lawyer in Tao Jin. After CGSH· Sullivan, he was transferred to JPMorgan Chase, an investment bank. Or enter a better foreign office, in the same way as mentioned above. To sum up, colleagues studying law want to be in the top three. The suggestions are as follows: practice English well, especially to express professional content fluently and standardly (oral and written language, pronunciation is best practiced specially, regardless of your beauty-pageant accent or British accent), which is an essential basic skill, otherwise the interview will suffer, and this kind of work needs patient improvement; Master certain financial knowledge, financial management knowledge and accounting knowledge; Study hard at school to improve undergraduate GPA(3. 5 or above is preferred), which is the basis for applying for JD, MBA, etc. ! 2. European investment banks: such as Swiss Wave, Warburg, Lyon, Paris, Germany and Jiacheng. The entry procedures and requirements are roughly the same as above. For example, recruitment in Germany is limited to a number of colleges and universities, and professional knowledge is emphasized. My cousin Zhang Hongyale, Ph.D. in Finance, now works in new york. It is said that her recruitment has unique psychological and personality tests, but her oral English requirements are not as high as Yale expected. UBS has job fairs in Peking University and Tsinghua. 3. Japanese investment banks: Nomura, Daiwa, etc. Because there is no information source, I am not qualified to comment on 4. Other investment banks: JPMorgan Chase, etc. Similar to the Big Three, JP Beijing prefers UIBE students, and it is ideal to strive for internships and then apply for jobs. B. Joint venture investment bank \u00 1 1 is active in Huaou, BNP Paribas, Yuhai Dahe, Merrill Lynch Huaan (under approval, headquartered in Shanghai), Goldman Sachs Gaohua and CICC. 0 1 When recruiting, Huaou focuses on basic economic knowledge, basic English ability and personality test (investment banks prefer low-key and pragmatic people). At present, the company gives priority to students from Peking University, Tsinghua, Fudan University and Shanghai Jiaotong University. Those with work experience need operational experience, and value several projects you have done (non-auxiliary). Last year, Changjiang BNP recruited teaching assistants in several universities, and the requirements for English were not as high as those of foreign capital. However, it pays more attention to basic economic knowledge and honest attitude (or knowing is knowing). A classmate asked a question about QFII in the interview. He boasted bravely and was immediately pointed out to be wrong, so he lost his position. However, it is said that there are problems in corporate governance and internal infighting is serious. Goldman Sachs Gaohua campus recruitment is very low-key, and there is no open job fair like the Big Three. There are many students majoring in finance in university of international business and economics, who are strong in all aspects and have a high level of English. C. State-owned investment banks, such as Guotai Junan, Shenwan, CITIC, Guo Xin, Guangfa and BOC International. I, uh, worked in Guotai Junan for four years. It is said that my legal background is still very popular. Dr. Mei Shenshi from the University of Political Science and Law and Dr. Cha Song from Renmin University are equivalent to working in the M&A headquarters. Li Zhonghua of the Law Department is an alumnus of the University of Political Science and Law. Last year, a group of graduate students were publicly recruited and published on their website. It should be noted that Hua Yifeng, the general manager of its merger and acquisition headquarters, has a very strong background (for various reasons, I can't disclose its details, please forgive me), and freshmen had a recruitment plan last year. BOC International pays more attention to English proficiency and financial expertise, and the interview procedure is similar to that of foreign investment banks. My hardcore brother is currently working for BOC International, Shanghai Finance International and CPA+CFAI with a master's degree in finance and excellent mathematics. The relationship between tutors also plays a great role. D. Private investment banks such as Wanmeng, Li Xinzhong, Lianchuang (venture capital companies, let's count them in), Shang Ya, Oriental Goldman Sachs, Zheng Rong Consulting, etc. If they have basic English skills and certain financial knowledge, they are likely to enter. However, it should be noted that because most of them are unlicensed, their business is on the edge of the market, and the income of newcomers will be relatively small, and the prospects are not clear. However, assuming its business is stable, Wanmeng newcomers can become project managers after two years. After participating in the project and succeeding, they can get some remuneration from it, which is attractive, but the disadvantage is that there are few benefits. The boss Zhongli in the letter is very awesome. At present, we focus on VC and invest in several successful projects. Summary of written interview for several investment banks. On the one hand, most of them are about professions and markets, such as the yield of ten-year government bonds, small interest in financial statements, internal rate of return and so on. There may be a small case of a similar consulting company. There are two majors, option portfolio income, Chinese and foreign spreads, and some accounting and financial problems. 2. Admiralty: English written test, English oral test, single-sided and double-sided. The written English test will have composition topics involving basic professional skills such as investment analysis and suggestions, and the oral test will have questions such as looking at pictures and telling stories. Many professional questions need to be prepared in the interview, such as cash flow estimation method, WACC, CAPM, etc. \ u00 183。 Huaou International: Personality tests account for a large part. This institution prefers low-key and pragmatic people (this is also the style of many investment banks, except Ms. ), and don't pay much attention to your original professional background. For example, Nanjing University successfully entered with a bachelor's degree in biology and a bachelor's degree in economics, and has now been promoted to a project manager with a monthly salary of 1. Twenty thousand yuan. BOC International: Similar to CICC, it pays more attention to oral English, and being able to communicate in English is an important plus. 2. A little suggestion \ u00 1F 1. You must practice basic English. In particular, express your professional ideas fluently and standardly. Chinglish is very common, but it is rare to understand the thinking of British and American people and to be close to their expressions. Fluent and pure English is a sharp knife in your hand. It is recommended to read newspapers and magazines such as Asian Wall Street Journal, Financial Times and The Economist. Or browse the internet. You can also download English reports in PDF format from the investment bank's homepage and try to imitate their style and thinking repeatedly. At the same time, if MS has a centralized interview topic on its website, reading analysis will be fruitful. When applying for a job, you must write your resume and cover letter in English, pay attention to the format and writing, and refer to the template of Harvard. 2. Necessary financial knowledge is the foundation. Cousin recommends the following domestic existing bibliography for reference. Although all of them are relatively basic and do not use too many mathematical tools, it is enough for legal persons to master them. Mishkin's Financial Market and Financial Institutions (Tsinghua English Photocopy Edition), Fabbrizi's Capital Market (China Renmin University English Photocopy Edition), and Taiwan Province Financial Classic Series published by Renmin University are easy to understand and very good. There are several CFA English textbooks published by CITIC. For the basic analysis of financial statements, we can read CITIC's "Using Financial Statements for Business Analysis and Evaluation", which is a careful work by Professor Harvard. For domestic related things, it is recommended to look at practical materials such as the Accounting Standards for Business Enterprises. 3. Domestic magazines Caijing, Securities Market Weekly, New Fortune, New Caijing and Business Weekly insist on reading and taking notes every week, assiduously study all relevant financial systems, legal systems and practical cases in Britain, the United States, Hong Kong and China, and ask qualified and experienced people for advice. 4. Big Deal (Hainan Publishing House, 2000), a classic work of M&A; Thief's Nest, Panorama of milken's Trajectory, International Culture Publishing Company; History of Wall Street Changes, Economic Science Press, only by learning the old and learning the new along the long rope of history can we sprout wisdom for our current practice. Summary and digression 1. Investment banking has nothing to do with sex and life. There are risks in entering the business, so you need to be cautious when entering the business. 2. Shanghai Century Publishing Group has a very good job search guide for global financial institutions, written by two people who have many years of experience in many famous investment institutions, and it is worth reading. In addition, Xu Guoqing held a training, and this person is also very experienced, so you can visit his website. These talents who have been in the industry for many years will be much higher than those with shallow financial experience, at least in terms of discourse power, experience and vision. \ u00 193。 All the above are professional discussions. But from the actual situation of investment banks, I want to have a place at the high end of this industry. In fact, I'm afraid these non-professional factors have played a very important role. Now many princes and princesses are in investment banks, both in Beijing and Shanghai. In addition, personality and communication skills are also very important. My own feeling and the teaching of a respected elder brother are that many projects have been pushed to a critical moment, which requires investment bankers' super communication and coordination skills and superb art of doing things. Investment banking is an art, not a science. Flexible response to people of all colors, while quickly gaining their trust, strong affinity, low-key and introverted, this is a typical picture of being an investment banker. The author listened closely to the speeches of people in the industry, such as Zhu, Zhu, Zhu, Zhu, Zhu, He Di and so on. I feel that these geniuses at least seem to have the calmness of going their own way and then sitting and watching the clouds fly. Only after they get along with others can they be truly confident. WS has a famous saying that being an investment bank is being a man.