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Old 01-07-2008, 10:19 AM   #1
BrightSparksAdmin
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Default What does a Consultant do? What does an Investment Banker do? What does a Private Banker do? What is the Admin Service?

Consultants

Consultants play a role to help their client corporations with studying certain topics and recommending best solutions for the company in question. An example is management consultant. A MC may be hired by STB to study current tourism initiatives and compare Singapore vis a vis competitor destinations and to offer recommendations on how to improve.

Another example is HR Consulting, whereby a HR consultant can be hired to provide compensation and benefits analysis for a large MNC to ensure that their practices are in line or above industry standards.

Firms in this industry include :

Bain & Co , Mc Kinsey – Management Consulting
Accenture, IBM – IT Consulting
Mercer, Watson Wyatt – HR Consulting
etc

Investment Banking
Very broadly speaking, IB refers to the helping corporate clients raise capital from the various markets and also advising on merger and acquisitions. Investment bankers prepare idea pitches that they bring to meetings with their clients, with the expectation that their effort will be rewarded with a mandate when the client is ready to undertake a transaction. Once mandated, an investment bank is responsible for preparing all materials necessary for the transaction as well as the execution of the deal, which may involve subscribing investors to a security issuance, coordinating with bidders, or negotiating with a merger target.

Firms in this industry include :

Goldman Sachs
Lehman Brothers
Morgan Stanley
etc

Private Banking
Private Banking is about the provision of personal banking services but geared towards high net worth individuals. HNW varies in definition from the mass affluent US$1M to the luxury segment of US$10M or even US$20M above. These services can range from normal checking accounts to structuring tailor made investments to even investments in art and collectibles. Basically anything to help really rich people manage their money well. Banks earn a cut from such transactions.

Firms in this industry will be a lot more general with most major consumer banks offering private banking services too :

Citibank
UBS
Credit Suisse
UOB, DBS, OCBC
etc


Administrative Services
Elite wing of the Singapore civil service. Admin service personnel have their salaries pegged to the top tier of private sector professionals and are compensated well to keep them within the government. The idea is to groom potential top civil service management and if the inclination permits, groom politicians.

It is best for those interested to ask PSC directly on details of admission into the service.
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Old 01-10-2008, 11:39 AM   #2
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Hey would like to know whether it is possible to go into IB with a bachelor of ISM major in Finance ?
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Old 01-11-2008, 11:03 AM   #3
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ISM is Information Systems Management right? From what we know you can study almost anything and be hired by IB firms and Consulting firms. The crux of the matter is that you are a good fit for them. Usually good fit means strong communicator, obviously highly intelligent and driven, good with numbers, persuasive person and a willingness to work extremely hard. So far, people I know working in IB tend to be top students who are the alpha type. In terms of what they study, really varies. There are engineers, business students, IT and quite a few PPE types.
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Old 01-12-2008, 01:41 AM   #4
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Smile Ism

alpha type ? u mean pple of those characteristics u just mentioned ? what does PPE stands for ?
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Old 01-14-2008, 10:10 AM   #5
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PPE stands for politics philosophy and economics. Sometimes called a classical education. Very popular with humanities students in singapore.
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Old 04-27-2008, 12:50 AM   #6
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do i-bankers really work 90-hour weeks?! that's terrible. for how many years would this work routine last?
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Old 05-22-2008, 11:25 PM   #7
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ya do heard some reports say that..it last for years of course if u intending to excel in that particular career which is torturing..need to sacrifice sth to get sth..
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Old 05-23-2008, 12:07 AM   #8
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Quote:
Originally Posted by ScK View Post
ya do heard some reports say that..it last for years of course if u intending to excel in that particular career which is torturing..need to sacrifice sth to get sth..
I guess you're right. Well, the pay really matches the amount of effort you put in.I know that some investment bankers earn $25k a month at 30 years old - and that's not even including bonuses!
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Old 08-12-2008, 12:01 PM   #9
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Quote:
Originally Posted by LockT31W View Post
I guess you're right. Well, the pay really matches the amount of effort you put in.I know that some investment bankers earn $25k a month at 30 years old - and that's not even including bonuses!

Yeah but obviously in the current climate, job security is really a crapshoot.
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Old 09-20-2008, 04:40 PM   #10
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Maybe private banking is the way to go, rather than Investment banking.

Don't join a pure IB bank. Anyway all the pure IB banks would probably go under or be bought up very soon.
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