Business prospect type
investment banking
What I am talking about here is mainly the relevant investment banking departments of domestic securities firms, which can be roughly divided into IPO, M&A, New Third Board, bond underwriting and other directions. I have always believed that the primary market, as the starting point of the career of fresh graduates, is the most suitable brokerage investment bank. Whether it is creditor's rights or equity, brokers can basically be said to be one of the most professional institutions in the market, and investment banks are the trendsetter in the capital market. In the investment banking department of securities firms, high-intensity work and professional working environment can give you great exercise, and your professional ability and comprehensive ability can be rapidly improved.
Generally speaking, the investment banking department has a wide network of outlets and has certain working experience in the investment banking department, which is basically very popular in most areas of the primary market.
Large asset management category
Asset management currently covers a very wide range, mainly referring to asset management departments such as trust, brokerage asset management and fund insurance. Now asset management is very hot, and as a career starting point for fresh graduates, the prospects are good.
In asset management, there are obvious differences between the primary market and the secondary market, and the secondary market is more similar in research or buyer category, which will be described more below. Engaged in asset management in the primary market, generally speaking, it is busy and necessary to travel, but compared with brokerage investment banks, living conditions will be much better. Because there is no such heavy regulatory pressure, there is no need to do so much work that makes people feel repetitive and meaningless. The cycle of asset management projects is relatively short, and business trips are mostly short-distance, and most of them are dealing with large local enterprises or large financial institutions, at least they will not encounter the situation of going to remote mountainous areas to close small black houses.
Generally speaking, the salary is generous, the work intensity is reasonable, the growth space and outlet are good, and those with resources are even easier to make money. Although the outlet may not be as wide as an investment bank, there is enough space for you to develop freely in it.
Category of core departments of banks
Here mainly refers to the asset management functional departments and profit centers of banks, such as investment banking department, financial market department and asset management department. As the leader of the financial market, banks enjoy a strong buyer position in the market. In the process of doing business, although the banking system is relatively rigid, it has a strong voice, so generally speaking, the rhythm is in the hands of banks.
As an aircraft carrier of the financial industry, banks have advantages in both capital and projects, so if they are good at accumulation, they will have a very good way out in banks. Generally speaking, the treatment of banks is relatively stable, and the incentive mechanism is certainly not as good as other market-oriented institutions. But after a few years, you can accumulate a lot of resources, which will have many benefits for job-hopping in the future and will be very popular in the field of asset management. Don't call the bank a pit just because the teller is hard! That's just that you can't go to the Gao Shuai Rich Department of the bank. Of course, these core departments of banks are difficult to enter, but there are opportunities to enter through management training or other ways with clear goals.
Seller's seminar
Like brokerage investment banks, I always feel that Seller College is the most suitable first job for students interested in secondary market business. With the same high-intensity work content and requirements, researchers must grow rapidly, write professional reports, go to listed companies for investigation and blending, and go to the buyer's roadshow for approval.
Researchers in the seller's industry who have basically worked for a period of time can quickly get started in this field in a short time, and even get ahead quickly and get great attention. The seller training in recent years can not only lay a very solid foundation for you, but also enable you to quickly accumulate relevant contacts in the secondary market. We will warmly welcome mature seller researchers to switch to various buyer institutions.
Buyer's category
Here mainly refers to Public Offering of Fund, private equity funds, PE, VC, etc. Generally speaking, the working intensity of the researchers in the buyer's organization is indeed much lower than that of the researchers in the seller's organization. Public Offering of Fund gave no other explanation. In this case, private equity funds generally refer to private equity investment funds in the secondary market, while PE and VC refer to private equity institutions that invest in equity. In Public Offering of Fund, buyers' researchers have a lot of intimate services from sellers, mainly serving the investment decisions of excellent fund managers. The overall research idea is more pure, and it is more inclined to the investment angle than the service angle. Public Offering of Fund's work intensity, off-duty time and welfare level are relatively humanized.
So, which is more suitable as the starting point of your career, the buyer researcher or the seller researcher? In the past, I thought it would be much better for the seller's researcher to be the starting point of his career, because at that time, I felt that the work intensity and environment of the buyer's researcher were far less than that of the seller's researcher, and all kinds of reports, meetings and investigations would be more casual. But with more contact, I feel that buyers and sellers just have different angles of analysis of the problem. Starting from the buyer, it may not grow slower than the seller, and the advantage of being a latecomer is also great.
On the whole, private equity investment is relatively casual, with a small number of people and large assets under management per capita. As long as the income is high enough, I don't care about many other formal things at all. Although the overall system is relatively irregular, private placement is basically founded by people who have been immersed in the securities market for many years. Basically, the market is good and the per capita treatment is amazing (because there are few people).
PE/VC focuses on the primary market and often needs to do some relevant research, which is often accompanied by business trips and projects. But it is also a primary market. Think about the brokerage investment bank, the living conditions are still much better. At least it is the management who goes out for an interview, and its status is different.
Regarding the question of whether the fresh graduates are suitable for direct private placement, I would like to briefly mention a few words here. As mentioned above, private placement is actually more suitable for experienced people in other industries. For example, PE/VC prefers investment banks or people with senior industry experience, while secondary private placement prefers people with investment experience of buyers and sellers.
Most private investors are simple and have strong individual combat ability, but their overall style is rather casual, and they generally lack a perfect training system. Therefore, it is quite difficult for fresh graduates to directly enter private placement. On the one hand, most of the work of private placement is beyond your power. On the other hand, if there is no good training system, job-hopping in the future is actually not good. Of course, it is not absolute. If you really meet a very good leader who is willing to give everything for you, or if you have superior personal ability, you may grow faster in a private placement environment.
Intermediate platform type
The work in China and Taiwan mainly includes products, risk control and compliance audit. Generally speaking, it is a job with high technical requirements and support for business.
Product-related post
Personally, I think the products are also very suitable for the positions of fresh graduates. For example, the product department of Public Offering of Fund Middle School is a very core position, which needs to know about investment, products, law and innovation, and always pay attention to the dynamics and facts in the industry, and it requires very high personal innovation ability, learning ability and comprehensive quality. Well done in the product department, well paid, and very popular at the front desk if you want to change business. Today, with the development of financial specialization, the specialization of various departments is becoming more and more detailed, and the status of professional middle-level Taiwan will become higher and higher.
Risk management, compliance, auditing and other positions
Risk management will gradually become the core of financial institutions. Remember what my boss said before? Financial institutions, not who runs fast, but who lives long? . The future development prospects of risk control management positions are very good, with high technical content and comprehensive quality requirements and relatively stable treatment. I suggest that you can take the FRM exam in your junior and senior years, which is also helpful for employment.
Background type
The back-office department is mainly the logistics department, which supports the work of the business department. Although the overall work is boring, the back office is very important to every company, and financial institutions can enjoy various benefits at the same time. Some financial institutions are collectively referred to as comprehensive management department and operation management department, which generally include finance, manpower and information technology. Under normal circumstances, the way out of the backstage is to continue to be a backstage in other institutions, which is more suitable for students with moderate and steady personality.
There are also many people who have asked me about switching from the background to the front desk, such as those who want to switch from the background to business or research. This phenomenon does exist in the market, and it may not be less. But from my personal point of view, you should try your best to pursue the job you want at the beginning of job hunting. If you don't love a job from the beginning, you can't do it well. Why are you willing to change your job if you can't do it well? Don't be fooled by other people's examples. The efforts (or luck or relationships) of those who successfully jump ship are often beyond your imagination. In fact, for example, if the front desk department is a chef and the back desk department is often a waiter, do you think it will be easy for the waiter to switch to a chef? After all, what you do every day is just serving dishes. Of course, for students who want to do business backstage, you can take this road. I'm just criticizing many students who take it for granted.
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