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Sender: liulangjt (vagrant boy), letter area: JobAndWork.

Title: [Original] Please carefully choose the securities industry as your career.

Sending station: Memoirs of a Geisha of Nanjing University (1Wednesday, October 27th16:18: 24 20 10).

Because my major and experience have many origins with the securities industry (not to mention the details, I am not in the securities industry at present), it is another one.

When I applied for the job, I saw that many graduates had high expectations for the securities industry, especially non-financial ones, just like I did at that time.

I am very worried about the fantasy of my professional classmates about the securities industry, so I wrote this article, which is all about real guests.

Personal experience of the concept and the words of senior people in various positions around the securities industry.

1, the essence of profit in the securities industry

If you want to enter an industry, the prudent choice is to understand the profit model and future direction of this industry first.

Is a must-do homework. When you see the "amazing" payroll issued by the so-called "cattle people" in the securities industry, your heart is surging.

When the wind is surging, you'd better first find out what the securities industry relies on to pay these cattle B such a high salary, and why do you want to leave this?

High salary? If you don't understand and don't believe it, it only means that you are stupid.

What does the securities industry rely on for profit? This question is difficult to answer. After more than 100 years of development, the securities industry in the United States

At present, there are three main sources of profits: first, global investment banking, including equity investment and stock listing; The second is stocks.

Profits from the transaction of tickets, futures and financial derivatives, including asset management; The third is to provide investment channels and investment consulting services.

The profit model of domestic securities industry basically refers to the American model, that is, investment bank, investment and brokerage.

2. Investment banks in the securities industry-the mediocrity of most people and the brilliance of a few people.

The main income of investment banking business comes from underwriting income of listed companies. Once the company completes the listing procedure,

The income of securities companies is very high. I haven't studied the rules of foreign investment banks, but the rules of domestic investment banks are

Before you enter this industry, you must be clear.

Investment banking is a bit like a hammer sale. If the company can go public, everyone will be happy. If not, then

There is almost no income, it should be said that the risk is great. In China, if the investment banking business wants to make a profit, it must take three steps.

Let's go

Step 1: Find companies that are likely to go public, or get a list that will definitely go public (which will be explained in detail later).

)。 There are many companies that may go public, but there are also many investment banks. Everyone is trying their best to find such a company. but

The so-called listing list, such as the listing of Agricultural Bank of China, is impossible for you to get. You need to have it.

Huge relationship.

The second step: material preparation and company reorganization after finding the company (that is, coaching the listing process). This is the mediocrity of most people.

The reasons are as follows.

Step 3: Everything is ready, but you still have to be able to cope with the uncles of the CSRC. If not, wait, wait for the last one.

In a few years, your hard-earned company will go bankrupt, and everything will be in vain.

So, what can you do in this sub-sector?

Can you find those good companies, drive away the bosses of those good companies and drive away all competitors at the same time?

If not, can you contact the CSRC and list all SB waste companies?

If not, can you beat countless competitors in a tough competitive environment and get the sponsor certificate?

If you can't, you can only be an investment bank migrant worker. You will always live the most, and your income will never rise. If it is a bear market, then

I can't be happy anymore.

To be reliable, if you are a migrant worker in an investment bank, there is basically no future, except for some special cows such as CICC and CITIC.

Compared with brokers, joining a large project team can mix some bonuses. Basically, the pre-tax income of most brokers is 15.

Below 10,000 yuan, the bear market, the income is extremely low (two or three thousand yuan a month is common), the first to be laid off is the investment bank migrant workers.

3. Investment and research in the securities industry-it is about to face the cruelty of marketization.

The recent madness in the sub-industry of investment research is really a bit excessive. Why crazy? The reason is simple. "It looks like" high income. "

Looks "high status" and "looks" easy to work.

What are the rules of the game in this sub-industry? Simply put, just two words: ranking. What ranking? Xin wealth fen

Analyst level. You don't need to be too clear about what this ranking is. In short, the current market is the top three in the industry.

The annual salary of analysts is 6,543,800+0,000 (before tax).

Then ask, how can this ranking be higher? Voting, mainly institutional voting, if all large institutional funds are approved.

If everyone votes for you, you will be great. The problem is that there are thousands of analysts in an industry. Why do people vote for you?

Maybe you will say, because I can launch Daniu stock at any time! If you can really keep pushing bull stocks, then I advise you.

Why do you come to work when you go home to stock market? Anyone who is really in the market knows that this is impossible.

There is only one way left, and that is to market those fund managers. More importantly, if you market well, those fund managers

I will not only vote for you, but also use the fund's money to buy the stocks you pushed to build momentum for you. Without marketing, there is no way out.

Just wait for Bole to find you.

In terms of income, the average staff of general brokers in this sub-sector (the top 20 brokers) is 6.5438+0.5 million before tax.

More stable than investment banks. This is why so many people want to go to this sub-industry.

Do you feel good? Wait a minute! There is a huge problem in this sub-industry, how to make a profit? Domestic brokers are now investing in research and making profits.

There is only one way, that is, to cooperate with large institutions, which will sign contracts with the analysis teams of some brokers to get newspapers.

Tell, consult strategy, and give money at the same time. In this mode, only a few domestic brokers can support themselves.

Among the investment and research personnel (about 5 people), others can't support themselves at all, and they have to rely on other businesses to support them.

Therefore, the domestic investment and research sub-sectors can be divided into two types, one is called seller's research institute, that is, through cooperation with large institutions.

A research institute that supports itself; The other is called a buyer's office, which mainly supports itself through other businesses.

. The problem is that the investment banking business itself is difficult to guarantee now, and the profit rate of brokerage business is declining. How to support it in the future? Have you thought about it?

No?

The market-oriented transformation of brokerage research institutes is inevitable. After the transformation, how can such an investment and research team survive? I haven't done it yet.

Want to understand. Please tell me if you want to know.

4, the securities broker-the bitterness of the underlying securities.

Brokerage business is a marketing business centered on account managers. Simply put, it is to pull people, dig people, and rob people to open accounts. if

You can only do this job if you enter this industry, so I can only admire your courage.

The survival of this sub-sector is as cruel as that of insurance salesmen. Now the streets are full of securities companies. Find someone to open an account.

It is unimaginable how difficult this is for people who have never experienced it. The above two sub-sectors can live a white-collar life. This industry is engaged in it.

If you are not good, you can only live a black-collar life, and the high elimination rate is absolutely unacceptable to you.

I know a well-known brokerage business department, and the proportion of account managers who left within one year is 76%, and they joined within one year.

The average monthly income of household managers is less than 4000 yuan before tax, and they also have to bear the number of accounts opened, the number of effective households, the number of effective assets, and commissions.

The assessment pressure of many indicators, such as the gold rate, will be deducted if it is not reached.

In addition, the rate of decline in the profit margin of this sub-sector is very outrageous. At present, the gross cost rate of commission rate is about two ten thousandths, net.

The cost ratio is about 4.5/10000. You should know that Huatai Securities now has a commission of10.5 million! Think about it, this

How much of the meager profit can go into your pocket?

Are there any people with high incomes in this sub-industry? Yes, there is. The account manager I know has an annual salary of 2 million! But you

Can't be like them. They have experienced a big bull market and have hundreds of millions of customer assets.

Customer list, in those days, picking up customers was as easy as picking up money, and the profit rate was as high as selling medicines. But it's all you

I can't touch it anymore.

In addition to account managers, the other two positions related to this industry are financial planners and analysts, and financial planners are mainly responsible for sales.

All kinds of brokers gather asset planning products, eat hard, and can't finish the task. Think about what to do. Master analyst

Being responsible for maintaining customers sounds handsome, but in fact, it is the nanny of customers, with only one purpose to improve customer satisfaction.

Degree, to meet the needs of customers, try to let him not to mention the commission reduction, let alone let him transfer money. Anyway, all you have to do is find a way to stabilize. this

The average income of the two sub-industries is below 6,543,800+before tax, which is no less stressful than that of account managers, but the threshold is higher than that of account managers. Want to go?

Yes, think about yourself.

5. Investment in the securities industry-a promising high-pressure road.

The investment department of securities firms is the most promising department in my opinion. There are three investment departments in a broad sense, one is self-operated and the other is used.

My company's currency stock; The second is asset management, which uses customers' money to stock; The third is fixed income, playing bonds to earn money.

This department is under great pressure. (As far as I know, in 2009, there was a well-known brokerage firm that didn't do well by itself.

10, the self-operated team of this brokerage company was all fired. However, the future is ideal, because market institutionalization is the general trend.

There is always a shortage of potential and big money management talents. If you're here for gold, I support you.

The problem is that the pressure is on the one hand, and the entry threshold of this department is very high on the other hand. If you don't have some hard power, you can still do it.

Do not give up hope.

6, sales department and headquarters-insurmountable gap

Having said that, some people will ask: It seems that the headquarters is better, so if I am in the sales department, is it possible to transfer to the headquarters?

? Tell you five cruel words: absolutely impossible. (Of course, if it matters, forget it. )

The distance from the brokerage headquarters to the sales department is no less than the distance from Mars to the earth. The business department of brokerage headquarters signs contracts with employees respectively.

Basically belong to two worlds, internal circulation. Just think about it, the salary in the sales department of the headquarters is so poor. Why?

There may be circulation opportunities? This is what I have repeatedly emphasized. If the brokerage business department recruits people, then the basic investment need not be invested.

Because for most people, the sales department is a place with no future.

7. Compared with the banking industry-average salary gap.

Finally, the income gap of securities banks is discussed by comparison. Many people may think that securities yield is high, but it is not.

You think so because you are blinded by some special cases.

It is not surprising that there are people with particularly high wages in any industry. The question is what is the average level of this industry. bank

There is a lot of deception in income, because there are many kinds of income of banks. I counted the income types of a typical bank.

***34 kinds of income, each of which may not be much, but the increase will always be a considerable figure. You should also consider work.

Give him extra points in environment, stability and social status.

If you think the income of 654.38+00,000 people in securities firms is very high, I want to tell you that in banks, the income is 654.38+00,000, which is stable.

The proportion of people with 654.38+0 million is much higher than that of brokers. It is more reliable to say that the five major domestic banks plus joint-stock banks plus commercial banks in various cities.

The average income of all employees (including contract workers) is about the average income of all employees in the headquarters and business departments of all securities companies in China.

If you don't believe this figure, then I have nothing to say, if you really stayed in these two industries.

The bottom will agree with me.