How rigorous is the selection process for Asia for US candidates?
Hi all, from what I've gathered from reading the posts (correct me if I'm wrong), it's considerably harder getting into a NY BB if you're not from a target school.
My question is, what's the success rate like for US applicants applying to Asia? Does the target school factor matter? Which are the most popular Asian destinations and why? Is anyone interviewing for Singapore positions? (Are they even accepting US applicants?)
Thanks and appreciate any comments :)
I just had a chat with recruiter from Lehman Asia the other day, here's what I gather:
-A brand name school will definitely help you - especially one that is recognized internationally (H/S). Even top schools that aren't as widely recognized internationally (such as Northwestern, Duke, Brown, etc.) won't really help considering the extreme limited number of positions. -She told me that there were over 1,000 applicants and they were interviewing about 100 candidates. She didn't tell me how many they expected to hire from the 100. -Lehman may be different because I know they were on a hiring binge in the recent years. I've read an article that said that Lehman increased its headcount by 70% in 2006, 20% in 2007, and is "getting close to fully rounding out its Asia business". They are currently at 3,781 staff in Asia, compared to 2,500 and 2,800 for GS and MS respectively, so they may be limiting their hiring this year. -I have an open interview next week for either HK or Singapore; whichever has more hiring needs I guess, although I think I'd prefer HK over Sg. I think the most popular destination is either HK or Tokyo (except that Tokyo requires Japanese skills, so it's more limited in who it attracts).
It seems that you, Elaine528, IB in Asia and I are all in similar positions. =/
Lehman is extremely weak in Asia - probably last among the bulge brackets and behind even several local banks. I wouldn't work there if I have a choice.
Yes, I've heard this, but... 1. Coming from a non-target, I'm not going to be a choosy-beggar. 2. Lehman brand name is still strong overall, despite regional reputation. 3. I've met and gotten along with many people from the firm, and its important for me to work in an compatible environment [even more important than perceived prestige]. 4. I would be lying if I said I wouldn't kill for the chance to work for any major bank - who cares if its last place among the BB? It's the last place among firms that are the best in the world... this is still better than your average job.
I'm not going to complain if I can get a job w/ Lehman Asia - I would be more than ecstatic. To me, its foolish to complain about not working for a 1st or 2nd best firm simply because I work for a 8th best firm.
well, my advice is for those who have a choice among different BBs in Asia. If he doesn't have a choice, then it obviously doesn't apply.
Lehman really is not widely recognised outside of the US.
Are there any other firms in Asia which are actively hiring b/c ive heard that along with Lehman, MS isnt increasing its headcount..?
you mean Leh and MS ARE increasing headcount?
2 kids from my school got full time 2008 offers from these two places at the end of may
Just curious, how did the 2 kids snag 2008 offers so late in the game?
I only have experience with what it's like at Penn, so keep that in mind.
That said, the most absolutely important thing is whether or not you speak and write Mandarin for HK. If you do, I've seen multiple people with GPA's in the 3.0-3.3 range get interviews from pretty much every single BB.
If you don't speak Chinese at least, the standards ratchet up significantly, to the point where I think it's actually harder than NY recruitment to get into HK(for IBD from my experience). S&T doesn't care as much about your language abilities(although it is a plus), and it is easier to get an offer in HK there than it is in US.
Is being able to write Mandarin important as well as speaking it? What level of competency do you need?
beaker - you're mistaken. im from outside the us and lehman definitely has a great name
beaker what are you talking about lehman does very well in EU and very well in Japan. It is starting to have a growing presence in other parts of asia as well.
i do agree that it is less competitive to get in and that Mandarin knowledge is a plus.
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