OCBC Securities Trainee Dealer VS HSBC PBA Interview

• Superkia

  25 Jan 11, 16:18

  Hey everyone,

  I am new here and would like to know more about the job Trainee Dealer preferably in OCBC Securities. I also have another job application which is HSBC PBA.

  What are the career prospects for these two lines?

  How's the compensation package like?

  Which of these is a better choice? Why?

  Anyway, I am a Malaysian and a fresh graduate from local uni here. Do you think there is any disadvantage for me w/o having a Sg citizenship or PR?

  Would appreciate if anyone here is working or has worked or has a buddy who works in this industry to share with me his/her experience =)

  Thanks!!!

   

   

   

• Theman23 544

  25 Jan 11, 21:22

  Hi,

  first of all i would like to say there's no better choice between the 2 as it depends on your interest

  For the role of an equities dealer mainly is to provide clients with important and latest market information and assist them in prompt execution of trade orders. Basically in the stockbroking line there is no clear career path progression as the focus here is to gather as wide a clientele base as possible. (One can either lead a team of dealers in future or progress to other forms of career path such as proprietary trading etc)

  For the role of a personal banker mainly is to recommend a suite of suitable products (not limited to stocks) to potential clients. The role here is to similar to that of a financial consultant and one can either progress to be a relationship mgr or even a private banker in future (if you have a healthy pool of high networth clients) 

  I hope you find the above info useful

• Superkia

  25 Jan 11, 22:23

  Hi Theman23 544,

  Thanks for your insights! May I know do you have any experience of job interview for these 2 types of job? Wondering whether you can provide me any tips like what type of question they ask during interview?

  Besides that, I am also curious on the commission part. How much is the typical commission for financial product of HSBC? As for equity dealer, take the min comm is $25 per transaction then isn't it very hard to hit a high commission? given that the most I can get about 50% out of 25 per trade. Unless I have huge cust base or my clients trade very frequently, I will most likely be taking my basic pay + a few hundreds per month only? sounds not quite attractive to me.

  What do you think?

• Devil7030

  25 Jan 11, 23:20

  CTTC

• Superkia

  25 Jan 11, 23:34

  Originally posted by Devil7030:

  CTTC

  What does CTTC stand for?

• weymas

  26 Jan 11, 12:25

  Originally posted by Superkia:

  Hey everyone,

  I am new here and would like to know more about the job Trainee Dealer preferably in OCBC Securities. I also have another job application which is HSBC PBA.

  What are the career prospects for these two lines?

  How's the compensation package like?

  Which of these is a better choice? Why?

  Anyway, I am a Malaysian and a fresh graduate from local uni here. Do you think there is any disadvantage for me w/o having a Sg citizenship or PR?

  Would appreciate if anyone here is working or has worked or has a buddy who works in this industry to share with me his/her experience =)

  Thanks!!!

   

   

   

  Theman23 544 is correct about the 2 job descriptions.

  As a dealer, ur main role is to provide advisory services to clients with regards to the securities, and execute clients orders. depending on the company, some do not pay dealers commission but instead give them a fixed monthly pay (although bonuses tend to be rather attractive).

  As a personal banker, you'll be meeting different customers and recommending your company's range of products. Most, if not all firms pay their personal bankers a base + commission.

  Which job is more suitable depends on where your interest is, and your personality as well.

• Theman23 544

  26 Jan 11, 21:17

  I did go through interviews for the above 2 job descriptions before and from my own personal opinion the interview process as a dealer is definitely more challenging. You might be posed with questions such as

  - What do you think of the outlook for the global economy?

  - What stocks are you looking at and why?

  - What is the closing index of the various key markets

  - Are you able to handle the challenges in the dealing desks?

  - Why do you think I shld choose you and not the others?

  etc etc

  Make sure you do your homework before going for interviews as a equities dealer..As for the commission structure it varies amongst different houses and is usually kept as a trade secret (so i would not know)

  Typically you might have to go through 2-3 rds of interview before they decide whether to accept you into their trainee dealer program

• Superkia

  27 Jan 11, 11:50

  Originally posted by weymas:

  Theman23 544 is correct about the 2 job descriptions.

  As a dealer, ur main role is to provide advisory services to clients with regards to the securities, and execute clients orders. depending on the company, some do not pay dealers commission but instead give them a fixed monthly pay (although bonuses tend to be rather attractive).

  As a personal banker, you'll be meeting different customers and recommending your company's range of products. Most, if not all firms pay their personal bankers a base + commission.

  Which job is more suitable depends on where your interest is, and your personality as well.

  Thanks weymas. As for now, I am more interested in the PBA job but it's still up to whether I can land the job. Plus, both jobs start on April so I might end up somewhere as it's like another 2-3months of waiting time. I have been waiting for almost 3 months for my first job =(

  Originally posted by Theman23 544:

  I did go through interviews for the above 2 job descriptions before and from my own personal opinion the interview process as a dealer is definitely more challenging. You might be posed with questions such as

  - What do you think of the outlook for the global economy?

  - What stocks are you looking at and why?

  - What is the closing index of the various key markets

  - Are you able to handle the challenges in the dealing desks?

  - Why do you think I shld choose you and not the others?

  etc etc

  Make sure you do your homework before going for interviews as a equities dealer..As for the commission structure it varies amongst different houses and is usually kept as a trade secret (so i would not know)

  Typically you might have to go through 2-3 rds of interview before they decide whether to accept you into their trainee dealer program

  Thanks for your sharing. I went for the interview for dealer and there are 3 rounds in total. Hopefully I can get through to the next 2 rounds. Did you go for the PBA interview under HSBC? Mind sharing how's it like?

   

• weymas

  27 Jan 11, 13:40

  Originally posted by Superkia:

  Thanks weymas. As for now, I am more interested in the PBA job but it's still up to whether I can land the job. Plus, both jobs start on April so I might end up somewhere as it's like another 2-3months of waiting time. I have been waiting for almost 3 months for my first job =(

  Thanks for your sharing. I went for the interview for dealer and there are 3 rounds in total. Hopefully I can get through to the next 2 rounds. Did you go for the PBA interview under HSBC? Mind sharing how's it like?

   

  
  i went through 2 rounds of interviews for my dealer position (which i got it), and now serving my notice at my current job; taking my CMFAS papers at the same time.

  don't worry, jobs will come to you as long as you have patience.

• Superkia

  28 Jan 11, 00:10

  Originally posted by weymas:

  
  i went through 2 rounds of interviews for my dealer position (which i got it), and now serving my notice at my current job; taking my CMFAS papers at the same time.

  don't worry, jobs will come to you as long as you have patience.

  Congrats! I hope you will like the job =) Looks like I gonna patiently wait and still continue my job searching until I land a job. Thanks for your advice, bro!

• Theman23 544

  29 Jan 11, 09:19

  Superkia.......All the best to your trainee dealer interviews with OCBC Securities...from what i heard the program is pretty comprehensive and i believe this job will be a good stepping stone.

• Celenatan

  3 Mar 11, 19:51

  Hi Superkia! Curious to know what you chose in the end! Similar to you, I'm faced with the choice of PBA vs trainee dealer, although my interest lies mainly in Corp banking sales! How did the interview with OCBC securities go? Any pointers or tips? :)
• Asromanista2001

  8 Mar 11, 18:54

   

   

  most important for these kind of jobs is to leave your conscience behind.................

   

  trade against your clients or taking huge risks with their money is the norm................

• bladez87

  8 Mar 11, 19:12

  waa i also want to join equities dealer position leh. how you got to know the job? and where you apply from? thanks

• Mr cong

  23 Mar 11, 00:37

  Hey,i holding an engineering degree.can i enter as trainee dealer as i always look into financial market and decided to follow my passion