Investment banking

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*Nobleman*
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Re: Investment banking

Post by *Nobleman* »

Yep long hours is usually the case in investment banking. But regardless of money, that lifestyle is one inshallah i would never like to experience. Theres more to life than working retarded hours for good money, infact i would argue that type of life is not sustainable, damages the mind, health and iman. Some of my mates went into IB thinking let me get in make money and get out, truth be told no matter how much money you accquire it is never enough, hence why they still work in middle office IB.

black velvet wrote:
Crazy Cat Lady wrote:
black velvet wrote:Someone told me she had to work 43 hours straight one time and 14 hrs was normal; she was in M&A

CCL are you considering IB?
Hell no, I'm too lazy and thick. I'm looking into something a little more meaningful, I'm not sure though :|
I wouldn't go into it unless I was very motivated and determined to make it otherwise I'm sure anyone would end up jumping out the window. When you say meaningful, does that mean teaching, the third sector...

What do you mean by teaching the third sector? i know a lot of somalis who have gone into teaching recentley, very respectable profession.
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black velvet
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Re: Investment banking

Post by black velvet »

Third sector meaning Charities/Not for profit organisations.

Ps I don't think anything can compare to starting your career off in IB
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Re: Investment banking

Post by Crazy Cat Lady »

Maybe working for an NGO, something to do with women's rights would be amazing :up:
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black velvet
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Re: Investment banking

Post by black velvet »

Crazy Cat Lady wrote:Maybe working for an NGO, something to do with women's rights would be amazing :up:
Sounds exciting, have you thought about exactly what you want to do for them? Accounting, PR, fundraising, HR, campaigning?
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Re: Investment banking

Post by Executive »

I interned at the Mergers and acquisition division of an investment Bank, I worked a shift from 9am to 3am one day. My friend still works in IB and those hours are normal for him. M&A is the worse division in terms of long hours.

They pay for a cab home every night, but the bloody driver wants to have chat and u want to sleep, not only that I was expected to be in the next morning. :down:
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yunis09
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Re: Investment banking

Post by yunis09 »

i would think long and hard before embarking on career in the banking sector specially in Investment Banking....
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Abdi_westldn
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Re: Investment banking

Post by Abdi_westldn »

Investment Banking is a great way to get capital, but then you'll need to do your own thing eventually.

Waged jobs is never enough because the more you earn,the more you'll spend.
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black velvet
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Re: Investment banking

Post by black velvet »

There are so many divisions in an IB and "long hours" are all just relative anyway.
Executive wrote:I interned at the Mergers and acquisition division of an investment Bank, I worked a shift from 9am to 3am one day. My friend still works in IB and those hours are normal for him. M&A is the worse division in terms of long hours.

They pay for a cab home every night, but the bloody driver wants to have chat and u want to sleep, not only that I was expected to be in the next morning. :down:
Did it put you off that whole thing
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Re: Investment banking

Post by Ganjaweed »

Black Velvet, what is the average wage in Investment banking, would you say? And is it also called "Finance Banking" because I'm confused :? .
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Re: Investment banking

Post by Paddington Bear »

Ganjaweed wrote:Black Velvet, what is the average wage in Investment banking, would you say? And is it also called "Finance Banking" because I'm confused :? .
Depends on what you do, my friend. You could be a secretary at an investment bank and rightfully claim to be 'in banking'. You could be a lawyer, an analyst, a trader, an IT worker, a settlements clerk or the bloody chief investment officer. Most do the long hours but the pay varies.
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black velvet
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Re: Investment banking

Post by black velvet »

Paddington Bear wrote:
Ganjaweed wrote:Black Velvet, what is the average wage in Investment banking, would you say? And is it also called "Finance Banking" because I'm confused :? .
Depends on what you do, my friend. You could be a secretary at an investment bank and rightfully claim to be 'in banking'. You could be a lawyer, an analyst, a trader, an IT worker, a settlements clerk or the bloody chief investment officer. Most do the long hours but the pay varies.
:lol: That is true.

Ganjaweed an Investment Bank has loads of different divisions within it. If you are talking about the Investment Banking Division in an Investment Bank then you're talking mid 30s starting salary and after 5 years just hitting 50k. Mind you that's minus the bonuses which could be anything between 50% to 120% of your salary. But as PB said, it really does vary. Generally customer facing/front office guys earn more i.e. the traders, sales, asset managers, private wealth, structuring, research...you'd probably earn more than the average person working in the IT, audit, tax, operational department, I say probably because it comes down to how good you are at your job and what level you're at. Either way, the starting salary and earning potential in IB is the highest in the graduate market.

About Finance Banking I guess you are talking about Professional Services? Like what PricewaterhouseCoopers does (Audit, tax, consulting) as opposed to Barclays Capital (an investment bank)?
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Re: Investment banking

Post by Executive »

BV


Its not for me, I didn't like the people and culture, I now work in Accountancy/Audit....
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black velvet
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Re: Investment banking

Post by black velvet »

Executive wrote:BV


Its not for me, I didn't like the people and culture, I now work in Accountancy/Audit....
Apart from the hours, what annoyed you the most?

btw did you get the internship independently or with SEO?
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Re: Investment banking

Post by Executive »

I disliked the whole culture and people, you can't even tell your mentor a joke, A lot of the work I did was for nothing cause the clients never pursued the deal.

Through SEO, I never past the 1st interview stage for the applications I made independently before approaching SEO, the support they provide is great. Some of the other interns had masters and previous experience and they were capable of doing some complex financial modeling and valuation techniques on spreadsheets, SEO brushed up my excel skills, interview skills and generally give me a great insight into IB.
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black velvet
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Re: Investment banking

Post by black velvet »

Hurra great that there are Somalis out there taking advantage of the opportunity. I remember looking at an Alumini list and all I saw were Asian/West African names. The Deeqa's and Ifrah's are on their way :up:
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