Asked on 09 Apr 2019
Doesn't look too good. Not sure if you read about the recent job cuts for Nomura. https://www.straitstimes.com/business/banking/nomura-axes-8-of-9-equity-research-jobs-in-singapore-in-us1b-cost-cutting-plan
I think people entering the industry need to really be a cut above the rest and have to find someway to differentiate themselves.
I've always wondered that as well - as to why university students are so interested in investment banking/PE related jobs. It could be a badge of honour, and being able to say one can work like s*** til ungodly hours.
When I was in JC, I asked a senior who was in IB, and after 2 years in the job, she said it was the worst decision.
Keep in mind, pre-2008, jobs in IB/PE was seen as very lucrative and prestigious. I do think that times have changed though.
27 Oct 2019
While it seems no good, our index relies a lot on the banking industry.
And our consumerism requires a lot of banking as well.
If bank sales maybe not so much.
If bank teller you have a short and limited runway as its been many eons since I’ve visited one.
Then again, DBS CEO’s pay is cray cray so prospect wise it’s good if you are in the game.
It depends on the type of opportunities you are seeking in the banking industry. The latter is really broad otherwise.
I might have a contrarian view - If you are able to join a bank now in a relatively mobile role, you should be able to make it once the tide reverses.
Hope this helps
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