Gentleman,
I currently have FT IBD offers from top BBs (GS/MS/JPM) in both New York and Hong Kong. Given the state of the markets in the US/Europe, any suggestions for which location to choose?
Also, how easy would it be to switch locations after the analyst stint?
Would appreciate everyone's input.
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I’m currently working in NY and would kill to get a gig in HK. Much more fun of a city
spent some time in HK and have a lot of friends there, unless you're fluent the lifestyle definitely won't be on par with NY, and upward mobility will be limited
Career wise isn't NY obviously better?
Lifestyle preference is up to you.
I'm trying to understand why people think NY is "obviously better"
How many PE firms fly to HK to recruit? If you wanted to do PE in HK (and how PE firms in HK compare to US PE firms, I don't know) then it'd be a good idea to do HK IBD, but otherwise working in NY is obviously better for US exit opps.
1). "I'm trying to understand why people think NY is "obviously better" "
Monkey see - Monkey do.
2). How many PE firms fly to HK to recruit? If you wanted to do PE in HK (and how PE firms in HK compare to US PE firms, I don't know) then it'd be a good idea to do HK IBD, but otherwise working in NY is obviously better for US exit opps.
Since when did the end-all-be-all of life = getting into PE?... No seriously, for everyone that's had that ingrained into their heads (in many ways because of sites like these), please for the love of God, and for your own humanity, just step back a sec and ask "Why?".
3). Chanmonkey - this is not the first, second, nor third time you've asked the same exact question with slight variations. All I can say is either way it won't really matter - you're either incredibly indecisive. incredibly risk-averse, or both, in which case doing banking anywhere will end up being the same exact thing.
It's obvious why.
Which is better: Goldman Sachs TMT or Piper Jaffray? Moelis vs Citi LA? Harvard Business School vs Boston Community College? Why? Because of exit opps / career opportunities. Even if you're not interested in PE, exit opps into PE is a very strong gauge of how well regarded the group/office is.
If you don't give a sh*t about exit opps and will argue GS TMT = Piper Jaffray with a straight face, then fine HK IBD = NY IBD, whatever.
it's easy.
if you want to spend your career in asia, choose hk, if you want to spend it in europe/usa, choose ny
people dont really go to PE after 2 years in banking in hk. They like internal promotions and there aren't that many spots available anyways and most of the pe scene are dominated by local firms. That being said, i know bankers in HK sometimes make more than those guys in PE unless you are in one of the mega guys.
if you are a native mandarin speaker and don't mind the lifestyle in hk and dont hate banking with a passion, hk is an obvious choice with higher pay (less tax and higher bonus) and more fun. if you are not a native speaker (which i doubt since most of these banks conduct one of their interviews in mandarin), then you are better off staying in ny.
Ricqles' comment is pretty spot on. I did 3 years as an analyst in HK and went through the PE recruitment. PM me for questions.
I would kill to be in HK!!
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