Investment Banking Contracts [Networking]

**nomadd** · 18 July 2009, 10:50

Originally posted by moony1234 View Post

Morning all.

Whats the big secret with working in an investment banking role as a network designer/engineer?

As far as i'm aware, from my 15 years experience in networking and security SC cleared roles, a router is a router, a switch is a switch and a firewall is a firewall...

Why do these investment banking companies insist you have previous experience in the investment banking sector???

I've worked for many different organisations, government, military, private sector, foregin "interest" companies, etc etc. Each one has there own "procedures" and sets of rules/regulation [JSP's, ACPO regs, ISO, etc etc] you have to follow/get familiar with... why are these banking roles ANY different???

If anyone can shed any light on this it would be greatly appreciated!!

Thanks,

Aaron

I don't think it's so much the banks as the agents. If your cv doesn't show *recent* investment banking, they just put it in the bin. I've about 6 years investment banking, but that was over 10 years ago, so even I'm struggling - and the last two years of my contracting have been Retail Banking, but even that doesn't seem to be helping much.

I guess the market must be awash with contractors with recent i.b. experience, hence why the banks and agents can be so choosy?

Having said all the above, I had a cv sent for an i.b. job last week. I don't think it'll get very far - it hasn't in the rare events where I have been forwarded in the last 3 months - but who knows; it only needs one to bite.

I think your best route is via a 3rd-party supplier, rather than "direct" to the bank itself via an agency. They are much less choosy. That's how I managed to get my two recent retail banking roles - contracts via suppliers the banks had outsourced to. The rates aren't the greatest - another middle-man to pay off - but at least you'd get the experience you want.

Nomadd

**HairyArsedBloke** · 18 July 2009, 10:53

Originally posted by moony1234 View Post

If anyone can shed any light on this it would be greatly appreciated!!

Oh Lordy, Lordy. Another one.

Don't worry about it. You won't like it.

In any case they are about to move abroad and close down their operations in the UK.

**moony1234** · 18 July 2009, 11:06

I'm currently in a contract so i'm not looking to move just yet.

I was just curious as to why, from a skills point of view, they want someone with IB experience.

I can understand this to an extend for PM roles etc, but not the more techie roles...

**BarbarianAtTheDoor** · 18 July 2009, 15:28

I managed to get my foot in by contracting through a third-party so yeah, the above advice is sound, you'd do well to look for a friendly consultancy or such.

I used to loathe the practice, nowadays I'm obviously all for it.

You must be useless if you're not at an IB, since all the smart ones work in the City, we're cream of the crop, international talent, best and brightest, all that jazz.

They actually believe their own posturing, nothing else.

**Menelaus** · 18 July 2009, 15:40

Originally posted by moony1234 View Post

Morning all.

Whats the big secret with working in an investment banking role as a network designer/engineer?

As far as i'm aware, from my 15 years experience in networking and security SC cleared roles, a router is a router, a switch is a switch and a firewall is a firewall...

Why do these investment banking companies insist you have previous experience in the investment banking sector???

I've worked for many different organisations, government, military, private sector, foregin "interest" companies, etc etc. Each one has there own "procedures" and sets of rules/regulation [JSP's, ACPO regs, ISO, etc etc] you have to follow/get familiar with... why are these banking roles ANY different???

If anyone can shed any light on this it would be greatly appreciated!!

Thanks,

Aaron

FWIW I suspect that the reasons for this are as follows:

1. IB is a "closed shop" - e.g., if you don't know person X then they've no way of obtaining an informal reference on you

2. IB pays higher rates than non-IB therefore they can be picky

3. IB personnel are in general (note: disclosure - ex IB quant) a bunch of wink-stains. This goes double for the recruitment bods.

**PM-Junkie** · 18 July 2009, 19:11

Originally posted by BarbarianAtTheDoor View Post

I managed to get my foot in by contracting through a third-party so yeah, the above advice is sound, you'd do well to look for a friendly consultancy or such.

I used to loathe the practice, nowadays I'm obviously all for it.

You must be useless if you're not at an IB, since all the smart ones work in the City, we're cream of the crop, international talent, best and brightest, all that jazz.

They actually believe their own posturing, nothing else.

The really smart cookies are the ones who have worked in IB and who got out in order to retain their sanity and self respect...

**Menelaus** · 18 July 2009, 19:29

Originally posted by PM-Junkie View Post

The really smart cookies are the ones who have worked in IB and who got out in order to retain their sanity and self respect...

Speak for yourself.

**BrilloPad** · 18 July 2009, 19:34

Originally posted by moony1234 View Post

Morning all.

Whats the big secret with working in an investment banking role as a network designer/engineer?

As far as i'm aware, from my 15 years experience in networking and security SC cleared roles, a router is a router, a switch is a switch and a firewall is a firewall...

Why do these investment banking companies insist you have previous experience in the investment banking sector???

I've worked for many different organisations, government, military, private sector, foregin "interest" companies, etc etc. Each one has there own "procedures" and sets of rules/regulation [JSP's, ACPO regs, ISO, etc etc] you have to follow/get familiar with... why are these banking roles ANY different???

If anyone can shed any light on this it would be greatly appreciated!!

Thanks,

Aaron

Alot who work in IBs only last 1 contract. 2 things are difficult :-
1. the commuting
2. the aggressive nature of those who work there : in fact its NEARLY as aggressive as general.....

**Menelaus** · 18 July 2009, 19:36

Originally posted by BrilloPad View Post

Alot who work in IBs only last 1 contract. 2 things are difficult :-
1. the commuting
2. the aggressive nature of those who work there : in fact its NEARLY as aggressive as general.....

w -alpha - nkers, the lot of 'em.

Investment Banking Contracts [Networking]