Cfa Level 1 Curriculum Books Pdf' title='Cfa Level 1 Curriculum Books Pdf' />CFA Society Greece Hellenic Banking Institute http httpwww. Investment Banking London vs. New York. Investment Banking London vs. New York London and New York have long been and still remain the financial capital cities of the world. For many Europeans and others outside the US, New York always sounds like an attractive destination to learn Investment Banking from the best and have a US experience on your CV. For Americans and many from Asia Pacific too, London is also attractive given the more comfortable lifestyle it offers, and opportunities to work on deals across multiple European countries. Based on our experience of working in the US and in Europe, here are our thoughts on Investment Banking in New York vs. Investment Banking in London. London vs. New York as financial centres a brief history New Yorkers often imagine their city at the centre of the world. IN AN exclusive in The Weekly Times, the SecretaryVice President of Gladesville RSL Sub Branch Peter Astridge writes about the significance of The Great War of 1914. Stuff That Wont Get You Into Investment Banking The CFA, Activities, Certifications, Financial Modeling Courses, and a Ph. D. Suppose the spot rates for 1 and 2 years are s16. Recall that in this course interest rates are always quoted. But it isnt London is. Look at a map. America is on the left, Asia on the right, and in the middle is Europe. More precisely, London is in the centre. Why London has always depended on trade and immigration, which have been the key drivers of the citys status as a financial centre. Even as far back as in the nineteenth century, the City has always been dominated by foreigners in the business of banking and trade. CFA Level 1 2012 Curriculum Books Book 1 Ethical and Professional Standards and Quantitative Methods Format PDF English 380 pages 120. Washington, D. C., formally the District of Columbia and commonly referred to as Washington, the District, or simply D. C., is the capital of the United States. Cfa Level 1 Curriculum Books Pdf' title='Cfa Level 1 Curriculum Books Pdf' />But after war engulfed Europe in 1. Europe had to recover and the City lost its place in global finance to New York. As the US was untouched by the war and the started to industrialise rapidly, it quickly filled the gap left by London and took the lead in financial innovation. But London eventually caught back in the last decade as the influx of so many sophisticated French, Italian, Spanish, German, Chinese and Indian immigrants started to dramatically improve the quality of Londons workforce. While after September 1. New York, or even to visit on business trip, visas for Britain have always remained easily available. Also, with the numerous scandals and high profile bankruptcies in the US Enron, World. Com, Lehman Brothers, Bear Stearns all US firms, investors started to think that the US environment might not be the best, after all. Finding a an investment banking job in London vs. New York. Overall, investment banking jobs are easier to find and to keep for international students in London than compared to the US. The main reason is due to visa issues for non Americans, it is very difficult to obtain work visas or even visas for internships in the US. The immigration process in the US is lengthy, complicated, and very expensive. Therefore, most investment banks in the US will not bother to look at CVs of international applicants the United States is a very big country, and the talent pool in the US is sufficiently large for their needs. In comparison, the immigration process in the UK is much simpler, cheaper and more transparent there is a special Tier I Visa for highly skilled migrants it is granted based on a system of points that will take into account your education, age, current salary and any previous experience in the UK, and studying at a good university in the UK will also quickly open the doors to jobs in London, which is not the case in the US. The other reason is that languages and multicultural experiences are not as valuable as they are in the US than in the UK. The US is a very large country, and therefore investment banks will mostly do domestic business as well as South American business, and will not require bankers to speak many languages. In Europe, speaking various languages, especially Europeans but also to some extend Asian languages, is highly valued. Investment Banking Professional Experience in London vs. New York. On your CV, a stint in New York will always look very good and tend to impress people more than a similar stint in London. This is mostly because New York has had an established reputation as the leading financial centre for the last 7. US still is synonym with the American dream for most people, and also because working in the US tends to be so much more intense. Investment banking in the US tends to be a 2. Americans work extremely hard and long hours there is often no distinction between private life and professional life, especially in New York. Therefore, you are more likely to close more deals and work on more transactions in the US compared to the UK. Also, the domestic market is very active M A volumes in the US are always larger that what you can see in Europe. Therefore, from a general perspective, Americans tend to be better at financial modelling due to their more extensive experience, and they are used to handle a lot of stress compared to their European counterparts. A significant downside of working in NY however is that working in New York will not give you a global perspective of the investment banking business. For example, you wont work on many cross border transactions. You will only know about the US financial system and regulations, and you will only know about the American way, which will be extremely different from what is done internationally. Working in London, the majority of your deals will be cross border or outside the UK, you may work on IPOs in Russia, deals in Middle East, mergers with Chinese companies, etc. Finally, another downside of working in the US is that future career options in the US will be limited as a foreigner, because things in NY are so US centric. US companies tend to hire local staff, and being an outsider it will be much more difficult to have the necessary professional network and cultural connection required to climb the hierarchy fast or change jobs. But if you intend move back to your country in the medium term, this is not a problem. Investment Banking Lifestyle in London vs. New York Working hours and Work Life balance Expect 1. New York, very few weekends to enjoy, with a maximum of 2 weeks holidays if lucky more likely to be a week. In London, hours are more reasonable 7. August and December are very quiet. Quality of living New York is more fun than London for the young, party going types because of the club and bar scene. However, New York is a big block of concrete, extra cold in winter, extra hot in summer, and if you are a nature lover or a family type person you will be very disappointed and it can be very exhausting. Native New Yorkers are not the most friendly bunch either, and can be very rough. The London party scene is also good but London is more quiet overall, with lots green spaces, and much more family friendly. London is also unique in that you can travel all over Europe very cheaply for weekend breaks. So if you plan to party a lot, go to NY, and if you want a more settled lifestyle, go to London. Cost of living a flat in Manhattan costs roughly the same as a flat in London. Both will be small, overpriced and likely quite old. Other cost are also about the same, except from transportation which is more expensive in London but youll use taxis to go back and forth to the office anyway. Investment Banking compensation in London vs. New York. Salaries and bonuses at the junior level are pretty much in line between the two cities and this will remain the case so as not to have a massive exodus to one of the two cities. On an after tax basis, tax rates are roughly the same, except for very high salaries, where NY has an advantage given the new tax system in the UK 5. If you take into account currency exchange rates, then it all depends on your home country and what you plan to do with the money. Washington, D. C. Wikipedia. Washington, D. C. Federal district. District of Columbia. Nicknames. Motto Justitia Omnibus  English Justice for AllLocation of Washington, D. C., in the contiguous United States and in relation to Maryland and Virginia. Coordinates 3. 85. N7. 70. 05. 9W 3. N 7. 7. 0. 16. 39W 3. Coordinates 3. 85. N7. 70. 05. 9W 3. N 7. 7. 0. 16. 39W 3. Country United States. Approved. 17. 90. Organized. 18. 01. Ten Tec Pegasus Software. Consolidated. 18. Granted limited self government. Named for. George Washington. Government  Mayor. Muriel Bowser D  D. C. Council. Council members. Phil Mendelson D, Chairman. Anita Bonds D, Atlarge. David Grosso I, Atlarge. Robert White D, Atlarge. Elissa Silverman I, Atlarge. Brianne Nadeau D, Ward 1. Jack Evans D, Ward 2. Mary Cheh D, Ward 3. Brandon Todd D, Ward 4. Kenyan Mc. Duffie D, Ward 5. Charles Allen D, Ward 6. Vincent C. Gray D, Ward 7. Trayon White D, Ward 8  U. S. House. Eleanor Holmes Norton D,Delegate At largeArea  Federal district. Land. 61. 0. 5 sq mi 1. Water. 7. 2. 9 sq mi 1. Highest elevation. Lowest elevation. Population 2. 01. Federal district. Rank. 22nd, U. S. Density. 11,1. 58sq mi 4,3. Metro. 6,0. 97,6. U. S.   CSA9,6. 25,3. U. S.   Demonym. Washingtonian12Time zone. EST UTC5  Summer DSTEDT UTC4ZIP codes2. Area codes2. 02. Websitewww. Washington, D. C., formally the District of Columbia and commonly referred to as Washington, the District, or simply D. C., is the capital of the United States. The signing of the Residence Act on July 1. Potomac River on the countrys East Coast. The U. S. Constitution provided for a federal district under the exclusive jurisdiction of the Congress and the District is therefore not a part of any state. The states of Maryland and Virginia each donated land to form the federal district, which included the pre existing settlements of Georgetown and Alexandria. Named in honor of President George Washington, the City of Washington was founded in 1. In 1. 84. 6, Congress returned the land originally ceded by Virginia in 1. District. Washington had an estimated population of 6. July 2. 01. 6. Commuters from the surrounding Maryland and Virginia suburbs raise the citys population to more than one million during the workweek. The Washington metropolitan area, of which the District is the principal city, has a population of over 6 million, the sixth largestmetropolitan statistical area in the country. All three branches of the federal government of the United States are centered in the District the Congress, President, and Supreme Court. Washington is home to many national monuments and museums, which are primarily situated on or around the National Mall. The city hosts 1. A locally elected mayor and a 1. District since 1. However, the Congress maintains supreme authority over the city and may overturn local laws. D. C. residents elect a non voting, at large congressional delegate to the House of Representatives, but the District has no representation in the Senate. The District receives three electoral votes in presidential elections as permitted by the Twenty third Amendment to the United States Constitution, ratified in 1. History. Various tribes of the Algonquian speaking Piscataway people also known as the Conoy inhabited the lands around the Potomac River when Europeans first visited the area in the early 1. One group known as the Nacotchtank also called the Nacostines by Catholic missionaries maintained settlements around the Anacostia River within the present day District of Columbia. Conflicts with European colonists and neighboring tribes forced the relocation of the Piscataway people, some of whom established a new settlement in 1. Point of Rocks, Maryland. In his Federalist No. January 2. 3, 1. 78. James Madison argued that the new federal government would need authority over a national capital to provide for its own maintenance and safety. Five years earlier, a band of unpaid soldiers besieged Congress while its members were meeting in Philadelphia. Known as the Pennsylvania Mutiny of 1. Article One, Section Eight, of the Constitution permits the establishment of a District not exceeding ten miles square as may, by cession of particular states, and the acceptance of Congress, become the seat of the government of the United States. However, the Constitution does not specify a location for the capital. In what is now known as the Compromise of 1. Madison, Alexander Hamilton, and Thomas Jefferson came to an agreement that the federal government would pay each states remaining Revolutionary War debts in exchange for establishing the new national capital in the Southern United States. Foundation. Map of the District of Columbia in 1. On July 9, 1. 79. Congress passed the Residence Act, which approved the creation of a national capital on the Potomac River. The exact location was to be selected by President George Washington, who signed the bill into law on July 1. Formed from land donated by the states of Maryland and Virginia, the initial shape of the federal district was a square measuring 1. Two pre existing settlements were included in the territory the port of Georgetown, Maryland, founded in 1. Alexandria, Virginia, founded in 1. During 1. 79. 19. Andrew Ellicott and several assistants, including a free African American astronomer named Benjamin Banneker, surveyed the borders of the federal district and placed boundary stones at every mile point. Many of the stones are still standing. A new federal city was then constructed on the north bank of the Potomac, to the east of Georgetown. On September 9, 1. President Washington. Install Adobe Flash Plugin Puppy Linux. The federal district was named Columbia, which was a poetic name for the United States commonly in use at that time. Congress held its first session in Washington on November 1. Congress passed the Organic Act of 1. District and placed the entire territory under the exclusive control of the federal government. Further, the unincorporated area within the District was organized into two counties the County of Washington to the east of the Potomac and the County of Alexandria to the west. After the passage of this Act, citizens living in the District were no longer considered residents of Maryland or Virginia, which therefore ended their representation in Congress. On August 2. 42. Burning of Washington, British forces invaded the capital during the War of 1. The Capitol, Treasury, and White House were burned and gutted during the attack. Most government buildings were repaired quickly however, the Capitol was largely under construction at the time and was not completed in its current form until 1. Retrocession and the Civil War. In the 1. 83. 0s, the Districts southern territory of Alexandria went into economic decline partly due to neglect by Congress. The city of Alexandria was a major market in the American slave trade, and pro slavery residents feared that abolitionists in Congress would end slavery in the District, further depressing the economy. Alexandrias citizens petitioned Virginia to take back the land it had donated to form the District, through a process known as retrocession. The Virginia General Assembly voted in February 1. Alexandria and on July 9, 1. Congress agreed to return all the territory that had been ceded by Virginia. Therefore, the Districts current area consists only of the portion originally donated by Maryland.