These banks in Singapore will hire you without an elite foreign degree

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You studied in Singapore. These are the banks that want to hire you now

Couldn’t afford to study at an elite overseas university, but still want to work at a global investment bank in Singapore?

You’re probably keen to know what your chances are of getting hired by an international IB with a degree from Singapore’s three main local universities: The National University of Singapore (NUS), Nanyang Technological University (NTU), and Singapore Management University (SMU). In particular, which investment banks have the highest proportion of people with degrees from these universities within their ranks?

To help answer this question, we found out the approximate total number of Singapore-based employees at 12 US and European banks, based on LinkedIn profiles. We then reduced these headcount numbers to only include people who classify themselves as working in investment banking. Finally, we calculated the percentages of staff at each bank who attended one of the 'big three' Singaporean universities.

While the results, shown in the table below, only include people with online profiles, they are indicative of overall alumni populations at each firm and across investment banking in Singapore. On average, professionals with degrees from NUS, NTU or SMU make up 20% of the workforces of the investment banking divisions within the 12 firms we surveyed.

BNP Paribas and HSBC are the clear outliers. More than a third of their IBD employees studied in the Republic, suggesting they are even more receptive to local graduates than their competitors.

Encouragingly, if you want to work for a US bulge bracket, Goldman Sachs (20%) and Morgan Stanley (26%) boast comparatively high local ratios.

Perhaps surprisingly, Citi and Standard Chartered, the two Western banks with the largest overall workforces in Singapore, sit in the bottom half of our IBD-focused table. Across divisions (i.e. including corporate, retail and private banking), however, they remain large-scale recruiters from campuses in the city table.

Most foreign banks have been steeping up their hiring from NUS, NTU and SMU (J.P. Morgan is targeting local STEM students, for example) over the last three years, so the percentages below are likely to rise over time.

Image credit: ronniechua, Getty

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