what does M&A have to say about this? Sometimes but it can be challenging unless you can add substantial value to the firm (i.e. If you’re considering moving there, do it, with a higher than average salary (which isn’t hard) you can live like a king! The employment and education demographics are heavily skewed toward those who benefited from Apartheid due to the country’s history – many others don’t have the required education. The government dropped the ball on developing the technology sector, but there is opportunity as local companies grow and the regulatory environment supports more and more tech (see: there are a few promising signs from public officials as well). In South Africa the weather is obviously stunning and the cost of living is much cheaper than in developed countries, with a decent salary you really can live like a rich man. Think it might be easier if I could apply to one of the boutiques. I am also interested in this.Could you share any insight on careers in Investment banking industry in Kenya. They do offer 2-3 year rotational positions, but you need to wait to get placed in a team permanently. I have had a 6month stint at an audit firm. Oddly enough, these days Mandarin Chinese helps you in South Africa, of all places, because Chinese firms have been so acquisitive in Africa and some banks here even have Chinese investors. The shorter the email, the better. Also, what kind of postgraduate qualifications would you say are most required for Hedgefunds if one has a math-based undergraduate? We respect your privacy. If I should wait to email him back with specific times to talk, should I send him an email just saying “have a great thanksgiving” or something along those lines? Hey Brian, I am a student at a top public business school (think UCB- Haas or Michigan Ross- or UVA McIntire). Looking forward to more such amazing stories, Interesting and informative article. I was pretty excited to read this today, particularly because I work in Finance in Africa and it was about time. South africa is strict on math related degrees even if the blog says differently. Driven largely by raw materials and mining, the country is the largest producer of gold, platinum, and chromium in the world. Most of the hype is relatively baseless and consists of people looking at GDP growth rates and saying “OMG THAT IS AMAZING THEY ARE GROWING AT EIGHT PERCENT!” without having a clue what living or doing business there is really like. Yes, there is one on IB/PE in mainland China coming up soon actually. You see a mix of local banks and the global bulge bracket firms competing for deals here. We have seen bulge bracket come through on the mega state deals (government eurobonds) recently than ever before.This are but a few illustrations of the different dynamics at play on the rest of Africa. Finally, the secretary said to apply online as well. a year since this post. As a note though, while your title here accurately describes the story of investment banking in South Africa, your email title- IB in Africa- was misinformed. I would suggest that you apply to the international Investment Banks in the final year of your degree (i.e. Could we, perhaps, have another, albeit, more comprehensive Australian article soon? (Investment professionals who are not CFA charterholders) Even though I went for the MBA degree, it’s not too common among bankers here – most are either CAs (Chartered Accountants) or have a CFA combined with some type of mathematical degree. It’s better to send it to an actual analyst/associate there. You automatically qualify for South African citizenship if: you are born in South Africa and at least one of your parents is a South African citizen or a SA permanent residency permit holder; if you are adopted by a South African citizen. To capacitate the banking industry with professionals who make a difference . Just got a mining equity research interview coming up – in which I would expect stock pitching is a must. Financial Leadership Into The Digital Age. I would also like to know if anybody can compare the average salary of an intern doctor straight out of University to an intern/analyst I-Banker in SA(Intern Doctors get around 25-35 Rand a month) Thanks. Unlike in the US and some developed markets, where bankers tend to gloss over accounting backgrounds and the CPA, the CA qualification is highly regarded in South Africa. Q: Great, thanks for that information dump. Will wait on the Australian one, Thanks again. I have been office administrator for a property company for 4 years and want to do something else with my life and want to start studying ASAP! A: Overall it’s closer to the US – but interviews tend to be less formal and they’re more about fit rather than technical questions. If you’ve performed well at a top university here you stand a good shot of landing an offer – but just like other markets, nothing is guaranteed. In some years it might just be 1-2 full-time positions per bank depending on deal flow and team size. A: There’s a big emphasis on infrastructure and project finance here simply because so many countries in Africa are in dire need of infrastructure. Eyy is it possible to get info that kind of info for a 3rd world country in Africa like lets say Kenya???? It’s important to point out that if you want to get a job at the South African branch of a bulge bracket firm, you would still need to have all the qualifications required for that position elsewhere, as well as go through the lengthy application and interview process typically associated with investment banking jobs. Similar to the US, it’s tough to move directly from IT into investment banking or other front-office roles and hardly anyone in those roles moves up – though there are exceptions if you play your cards right. Properties are remaining longer on the market, with this year’s average being 15 weeks compared to 11 weeks in 2016 – according to South African bank, Absa. I have recently gotten into the Corporate Finance team at my bank (no.1 IB in SA based on league tables) in the Resources M&A- and advisory team using methodical steps which worked due to the informal nature of the recruitment process for IBs in SA. From what I hear, the culture is pretty unique over here too, compared to UK/USA. A: Sure. I’m busy completing my articles to be qualified as a CA (in South Africa). Regarding the titles of my emails, they often do not represent literally what the article is about – I agree with your point that in this case it should have been titled something different and I understand why you’re offended, so we’ll try to cover other parts of the continent in the future. I am a native Mandarin speaker working in M&A in South Africa having studied in the UK and US. Accountants perspectives can be useful since they can offer additional insights into the financial statements. See how you're connected. A: The main difference is the types of clients we work with: Beyond that, the products are much simpler: convertibles were only introduced in 2007, and credit default swaps still do not exist. The role involves supporting and assisting our team of highly rated analysts in gathering information, processing and analyzing industry and financial data, and ... Forex test experience as well as investment banking … Africa is continuing to receive a high level of interest as an investment destination from investors from across the globe including Africa, the US, the EU and the BRIC (Brazil, Russia, India and China)countries. This is another institution you can look at : http://www.afrasiabank.com/en/about_us.aspx. Unlike their challengers, the four universal banks have the principal advantage of being able to serve a sizeable share of South Africa’s business and corporate banking customers. I think they were happy with my technical skills since I had done so much valuation work at the Big 4 firm; without that background, you might get more technical questions and case studies. I am trying to spruce up my resume by amassing internship credentials that will boost my prospects. As an example, one local bank here actually paid over 200% of junior bankers’ annual salaries in bonuses recently. Besides the CA qualification, knowing a language that’s useful in the rest of Africa can also give you an advantage. And within the company you can easily move around. For some reason, though, accountants always seem to attract skepticism and scorn from financiers. Or is it the same case as SA(South Africa). Awesome article Brian! Johannesburg, Gauteng. I think the ones you listed are all fair game. Q: Thanks for explaining all that. Anything is possible, but do you guys think its feasible and if so how do I go about attaining my objective? Is it possible to tell me,which university the interviwee went to?or is it confidential? However, whenever the M&A space goes through a downturn, deal sizes often fall below the threshold that the international banks are targeting (i.e. On a more cynical side though, I would like to warn that you need a bit of a “Wild West” mentality to survive in Johannesburg, crime is rampant, the norm is for houses to have high walls, alarm systems and electric fences. If you haven’t received a formal education, there’s no better time than now to go back to school. Investment bankers work weekends and leave the office around 10 PM quite often, but all-nighters and working to the point of exhaustion are not as common as they are in the US. More specifically, how to get an internship in your second year at university? (Culture,pay,exit opps etc.). You dont happen to know how best to go about getting an internship at a bank if you are only in your 2nd year of university in South-Africa? I would really like to get insights on breaking into Corp Finance or I/B in such markets. 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