Getting a foot through the door of investment banking is proving to be harder than ever as banks have held back on hiring. The demand for professionals in Vietnam with outstanding track records, high performance and a driven nature is high.
However few meet the stringent requirements set out by top investment banks. If you are attracted to a challenge, here’s what you need to know.
How to distinguish yourself
Successful candidates often have a degree from a top university, with good academic records and experience in the banking industry. A strong command of technical analysis skills and financial fundamentals are crucial to starting out on a strong footing in this industry. At a senior level, experience in closing deals with customers and a good understanding of Vietnamese market trends are also key determining factors for a successful investment banker.
Is investment banking right for you?
If you are simply looking for big bonuses and career mobility, this may not be the right job for you given the uncertainty in European markets. There is also a big difference between working in a large investment bank and a boutique firm. Potential employees with a broader range of experience are increasingly valued in mid to senior-level roles, however candidates often gain such experience in boutique investment outfits. You must also be prepared to work long hours and grow a strong network of clients.
Investment bankers typically spend two to three years as an Analyst, and may progress on to become Associates or Vice Presidents of the company. There are also possible lateral moves into private equity or hedge funds. However, such lateral movements should be considered early into your career (at a maximum 4-year mark) as these business branches rarely recruit senior staff without relevant experience. Some other options include management consultancy, strategy consultancy, and corporate development roles in large corporations.
Market review for 2015
Front office staff were highly sought-after as banks competed for business within the Vietnamese market during the year. According to the Robert Walters Salary Survey 2015, overseas experience was a major hiring requirement, coupled with Vietnamese language skills. However, professionals in the banking and financial services sector showed little inclination to move jobs. This significantly restricted mobility and hiring levels in the country. Salaries increased by 10-20% for job movers and 7-10% for non-movers in 2014.
Find out what you’re worth using the Robert Walters Salary Survey.
Or, find your next opportunity via our job search page.