Is a career in investment banking still attractive?

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Afzal Hussein

Afzal Hussein

Күн бұрын

Пікірлер: 273
@AfzalHussein
@AfzalHussein 3 жыл бұрын
The first 100 people to go to www.blinkist.com/afzal are going to get unlimited access for 1 week to try it out. You'll also get 25% off if you want to try the full membership.
@KC-nb3mm
@KC-nb3mm 3 жыл бұрын
Ultimately I want to be on the opposite side of investment banking...The Client
@nareshagarwal772
@nareshagarwal772 2 жыл бұрын
Wow 👌👍
@zayd4684
@zayd4684 2 жыл бұрын
This is an amazing viewpoint.
@Gamabunta24345
@Gamabunta24345 3 жыл бұрын
My starting salary as a software engineer in London was 95k, in a year it went to 120k. Work life balance was okay sorta. In tech you need to spend 40 hours a week at work, and then you need to spend 40 hours a week outside work keeping up with the newest tech and making sure you don't become redundant.
@vasugupta1
@vasugupta1 3 жыл бұрын
waiiiiitt , 95k starting? Even google doesn't pay that much for starting swe role
@signs80
@signs80 3 жыл бұрын
@@vasugupta1 in the US starting is usually around 120k
@vasugupta1
@vasugupta1 3 жыл бұрын
@@signs80 Fair enough, I thought he was talking about London salaries
@thaiproud2b12
@thaiproud2b12 3 жыл бұрын
If you're earning that much, I don't think that many hours is too bad? If you're making as much as a director in the public sector...
@vincenthubert5216
@vincenthubert5216 3 жыл бұрын
Why don't you have an investment portfolio
@husnainshah443
@husnainshah443 3 жыл бұрын
THIS EDITING IS MAD!!! a lit of hard work and effort I can see in this video! Great job man!
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Thanks!
@dunkirito8308
@dunkirito8308 3 жыл бұрын
I wish schools would put more emphasis on certain business career paths like IB, accounting or consulting. My school only pushes for stem careers, most notably medicine or tech. I didn’t know IB/consulting existed until I hit college, and now I feel behind :/
@kavinsails
@kavinsails 3 жыл бұрын
Same man Jesus I wish I went into my school's commerce program instead of science
@josephs3169
@josephs3169 3 жыл бұрын
Probably because they know the chances of getting into IB are slim to none so what's the point? They would be setting their students up for failure
@dunkirito8308
@dunkirito8308 3 жыл бұрын
@@josephs3169 What? They should still give that exposure so that students are aware of different career paths. If students are aware of the process of getting into IB during high school, then their odds wouldn’t be slim to none. Many of my peers that got into IB knew since high school that they wanted to pursue that career. From the get-go, they knew that they had to get into a target school, earn a strong gpa, and have relevant internships. Knowing all of this increases your odds of breaking in.
@josephs3169
@josephs3169 3 жыл бұрын
@@dunkirito8308 It's a pipe dream at best
@dunkirito8308
@dunkirito8308 3 жыл бұрын
@@josephs3169 Not if you try to do what I just said in my previous comment. I’m currently attending a target school and most of my peers have broken into IB. I’ve noticed that less people are becoming interested in IB and more so in tech nowadays.
@kieranboddington
@kieranboddington 3 жыл бұрын
The majority of the people we see in those TikTok videos are 40+ who massively profited from when Investment Banking was in its prime in 80s, 90s, early 00s. I foresee that in 2030, 2040 the people in those TikTok videos will all be saying 'Tech' instead of PE. Keep up the good content!
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Good point. Thanks!
@anbarwins950
@anbarwins950 3 жыл бұрын
Finally, someone gets it.
@snowbear163
@snowbear163 3 жыл бұрын
Yeah starting in 2010 or so if you worked for a financial firm then in California people would say "Eww you're one of those finance guys?" And they would be grossed out. The only people who think finance is some prestigious job are people from Asia and people from developing nations.
@snowbear163
@snowbear163 3 жыл бұрын
@UC74Nfi_0wXQG9izCGMlJbcw i think you're commenting on the wrong video. The video is about whether IBD is attractive or not. There are not 7 billion people in your immediate community. You can't just ditch your social circles in LA, make friends in Bangladesh on Twitter and say you have a social life.
@sickmindon
@sickmindon 3 жыл бұрын
This is where people are wrong though. The only reason tech companies are what they are is because of Investment Banks and Private Equity. Finance will always have high tier place in society but just in different forms. 20 years ago was IB, 10 years ago it was hedge funds, now it’s private equity. Who knows what it will be in 10 years, but whatever it is it will make the billionaires of tomorrow.
@CodingJesus
@CodingJesus 3 жыл бұрын
Please talk about the crossroads of finance and technology. My channel focuses on trading-related FinTech.
@adrianogiunta4539
@adrianogiunta4539 3 жыл бұрын
Fintech
@jefftX
@jefftX 3 жыл бұрын
Please talk about how you got off the cross and learned to code
@CodingJesus
@CodingJesus 3 жыл бұрын
@@jefftX I already have a video on that
@aaronstanley5867
@aaronstanley5867 3 жыл бұрын
@@CodingJesus Hey there... Is transitioning from Finance to Technology easy or its the other way round ? ...Its just that I'm about to start my undergraduate degree and I'm interested in sort of both ....so I am thinking long term...
@CodingJesus
@CodingJesus 3 жыл бұрын
@@aaronstanley5867 If @Afzal Hussein wants me on I'll talk about it. Otherwise, go to my channel.
@BrunoLuke
@BrunoLuke Жыл бұрын
The collapse of Margin debt leads to a decrease in stock prices and trigger a wave of selling as investors try to cover their losses, Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $145K for sometime now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions
@DavidAntony-gq7id
@DavidAntony-gq7id Жыл бұрын
I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.
@BrunoLuke
@BrunoLuke Жыл бұрын
@@DavidAntony-gq7id I agree, I thought I was doing alright profit wise, until I needed assistance with diversification, I reached out to a financial advisor and in less than a year I was just $51,000 shy away from $640k which is like 7x more than I make on my own..
@DavidAntony-gq7id
@DavidAntony-gq7id Жыл бұрын
@@BrunoLuke I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think your Inv-coach could guide me with portfolio-restructuring..
@BrunoLuke
@BrunoLuke Жыл бұрын
@@DavidAntony-gq7id I've shuffled through a few advisors in the past, and KRISTIN GAIL CUNNINGHAM remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.
@DavidAntony-gq7id
@DavidAntony-gq7id Жыл бұрын
@@BrunoLuke I just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives and planned a call with her
@irfan_ahmed_2023
@irfan_ahmed_2023 3 жыл бұрын
Honorable AFZAL HUSSAIN Sahib, Asslamo Alaikum, loved to hear career Oriented session. Too good. Thumbs up & JazakAllah
@jordanejembi6211
@jordanejembi6211 3 жыл бұрын
Needed this and was perfect timing, was considering other careers other than investment banking whilst in year 2 of economics BSC. Thankyou!!!!
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Glad it was helpful!
@jbhns
@jbhns 3 жыл бұрын
So what is your final decision ? I’m curious ? Or at least what are you thinking of ? To do after your studies
@adrianogiunta4539
@adrianogiunta4539 3 жыл бұрын
@@jbhns I am also a second-year student of Economics and Finance BSc and I am shifting my career perspectives to Data science and business analytics jobs because I believe it has more growth potential in the future and it also intrigues me more than IB. However I would also like to become a portfolio analyst for an asset management firm.
@annh.4860
@annh.4860 3 жыл бұрын
Thanks for this, my takeaway is there's no harm in trying it - you don't have to stay there forever! I also like how you edited the video, very focused and made me kept watching with how well placed everything was, including the promotion.
@jondash2939
@jondash2939 3 жыл бұрын
I think tech and startups are actually good for investment banks in a way because they are improving their culture to not get out competed in a sense so its actually not that bad
@fbi6555
@fbi6555 3 жыл бұрын
Plus people raise salaries too.
@AkilBoii
@AkilBoii 3 жыл бұрын
Extremely insightful Afzal, thank you!
@AfzalHussein
@AfzalHussein 3 жыл бұрын
👊🏽
@JokeinParis
@JokeinParis 3 жыл бұрын
What I love with your content Afzal is that you arr always relevant and you always make me learn something. Thanks for the video, keep going ! Really :) it helps people to decide and do some introspection !!
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Thanks!
@atioar2214
@atioar2214 3 жыл бұрын
taking your tech skills to IB world as a software engineer is also very lucrative...nice pay, nice bonuses and nice hours
@AnymorAnime
@AnymorAnime 3 жыл бұрын
We call those people quants.
@user-mz6sq9wk4j
@user-mz6sq9wk4j 3 жыл бұрын
Nice hours? Don’t think so if you compare it to the tech industry😅
@CrowPlaysHD
@CrowPlaysHD 3 жыл бұрын
tech pays way better for software engineers though, but I guess its way easier for techies to get into an IB
@ThomasFoolery8
@ThomasFoolery8 2 жыл бұрын
@@AnymorAnime meh not really. Quants are quants. They typically have PhDs in math or physics. Software engineer barely touch math and get stuck doing middle/back office troubleshooting that pays sub-100k.
@ThomasFoolery8
@ThomasFoolery8 2 жыл бұрын
@@CrowPlaysHD you’re right. Tech in IB is for losers who couldn’t get into elite tech. However, tech in prop trading or any other front office automated trading role is prestigious and does pay the same or more than elite tech jobs in FAANG firms. People need to distinguish between Banking and Trading.
@MrPulle1
@MrPulle1 3 жыл бұрын
I think this could be a great format, what about making a video about it for PE too ?
@Mark_R_S
@Mark_R_S 3 жыл бұрын
Why stop at PE? How about VC, SWE and other popular fields?
@UA7123-
@UA7123- 3 жыл бұрын
Video on the quantitative finance space including systematic/quant hedge funds and prop technology trading firms would be interesting!
@zakkhan6054
@zakkhan6054 3 жыл бұрын
Hi Afzal, i've become quite disillusioned with ib since i realised my personality. Majority of the people i knew working in IBD were french/italian guys who lived in an apartment by themselves, were single, and had no family in London. Growing up here, I realised i have different responsbilities to most other ibd grads in my personal life which made this career unattainable. People need to realise that money only brings a certain amount of happiness, and you shouldnt compromise you family and friend relationships for it - mental health is something that needs to be addressed as its ever growing in our society
@sogno4771
@sogno4771 3 жыл бұрын
The best professors in high school help students understand that they need to find a purpouse in life and a meaning in their job. In the worst high schools instead, professors only teach their subjects and nothing more about life and about knowing yourself
@dlc2479
@dlc2479 3 жыл бұрын
I went through the same thing after my summer internship 3 years ago in IB. Decided to pursue a tech career instead and haven't looked back since. In London, there are other industries that offer more sustainable careers and pay well too. You just have to do some research into what's on offer and what suits your lifestyle. Good luck!
@zakkhan6054
@zakkhan6054 3 жыл бұрын
@@dlc2479 Thats really good to hear! what area in tech do you work if you dont mind me asking
@namename3829
@namename3829 3 жыл бұрын
12:21 - I've heard the opposite with regards to this. Sure, it's great to diversify your talent in case your main profession's prospects go down, but I hear all the time from older folks that it's better to be a master of a craft than to be a jack of all trades. They'll argue that after all why would someone hire you to work in field you're just transitioning into over someone else who has focused their whole life on a field. You'd just end up starting from square one and climbing from the bottom again. On the other hand, sticking through leads some people to really hate their jobs. What's your take on this Afzal?
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Hey, yeah it's a tricky one. Most experimentation should happen early on in one's career. Even as early as before and in university, so exploring different industries and internships as opposed to just focusing on banking. I definitely encourage movement across companies, however, throughout one's career regardless of industry.
@AbhishekYadav-bd1qz
@AbhishekYadav-bd1qz 3 жыл бұрын
eagerly waiting!
@jonathanvega7523
@jonathanvega7523 3 жыл бұрын
Loved the video. Just broke into banking although I've always been more interested in Tech. Your last point that your career is a long part of your life is reassuring to try new things, and maybe I'll look into more tech opportunities when looking for exit ops down the road.
@Lemzino
@Lemzino 3 жыл бұрын
Very underrated channel, been here since you had under 10k
@AfzalHussein
@AfzalHussein 3 жыл бұрын
You a real one 💪🏽👊🏽
@CodingJesus
@CodingJesus 3 жыл бұрын
What skills do you learn as an investment banker other than "you're made to do a lot of things and at 6, 7, 8, 9, or 10 you can't leave. You build stamina". If you can't work under pressure, and don't have the stamina to put in an extra couple of hours, then you won't make it in any industry your pursue. And staying up another 5 hours to maintain face-time while staring at a blank Google page just to smoothe your boss's ego is not a skill.
@gracem8634
@gracem8634 3 жыл бұрын
This one's gonna be interesting
@kevinfang6005
@kevinfang6005 3 жыл бұрын
Indeed
@ridwanulahianimasahun2684
@ridwanulahianimasahun2684 3 жыл бұрын
Awesome video Afzal! Killed it as always.
@jaybansal2377
@jaybansal2377 3 жыл бұрын
IMO The exit opportunities after IB remain with you for a longer time i.e. once an ex-Goldman banker, always an ex-Goldman banker. Better to at least start your career at IB. Whereas once you've taken up work at a startup, its much more difficult pivoting.
@snowbear163
@snowbear163 3 жыл бұрын
Not in California. Working in IBD is a minus because of how it's viewed. It's been that way for 10 years. When Neil Kashkari ran for California Governor against Jerry Brown around 2014, he tried to hide his Goldman Sachs background because it was such a minus with voters. He focused on his aerospace knowledge instead. But Jerry Brown brought out all of his Wall Street background and he got crushed in the election.
@jaybansal2377
@jaybansal2377 3 жыл бұрын
@@snowbear163 Wow that's interesting!! Politics is definitely a different game though as "Corporate = Evil".
@snowbear163
@snowbear163 3 жыл бұрын
@@jaybansal2377 yes during the debates Jerry Brown would say "Is that what they taught you on Wall Street? That's not how we want things in California." Or "Is that what your Goldman Sachs buddies told you? Because that's not something I'd be open about." He just demolished Kashkari. Now Kashkari runs the St Louis Federal Reserve branch or something in middle America. Got smoked out of California.
@bobhill6301
@bobhill6301 3 жыл бұрын
@@jaybansal2377 Yeah but I think the point still stands for most careers. Perhaps you are an evil, crooked w*nker banker but ultimately nearly every company has to either deal with the bank or competitors. Hence, if you have worked at one that is perceived to be the best I find it hard to see that it will count against you for in corporate roles
@jaybansal2377
@jaybansal2377 3 жыл бұрын
@@bobhill6301 Yeah man that's what I'm saying as well. "Corporate = Evil" was me referring to the notions that politicians spread to rally the anti-capitalist masses, it's obviously not true
@tommasoguarracino8180
@tommasoguarracino8180 3 жыл бұрын
Amazing video and absolutely agree with you. Btw smart people wear 945 tri-bundle!! Good Job Afzal
@maxmorenotorras154
@maxmorenotorras154 3 жыл бұрын
Honestly I hope I found out about your channel earlyer in my academic life. Your content is extreamly helpfull and it delivers.
@yashtripathi3275
@yashtripathi3275 3 жыл бұрын
Can you make a video on the life of software engineer/software developer/full stack developer in investment banking companies?
@00doblecero
@00doblecero 3 жыл бұрын
golden age of IB was 90s-07s Right now you got just $100k salary working +12h a day without social life
@superblitz2274
@superblitz2274 3 жыл бұрын
Out of college,no job pays as much,and it's not like tech or consulting have much better(or better at all) hours
@00doblecero
@00doblecero 3 жыл бұрын
@@superblitz2274 but its literally like having 2 jobs at the same time. IB managers are just squeezing the interns
@superblitz2274
@superblitz2274 3 жыл бұрын
@@00doblecero but you get paid,and most people leave in 2 years
@00doblecero
@00doblecero 3 жыл бұрын
@@superblitz2274 most people leave after +5 years. Would you waste your 20's working from 9-9 just for x2 salary? Money its important but not everything
@superblitz2274
@superblitz2274 3 жыл бұрын
@@00doblecero most analysts are 2 years,heck they are required to move after 2 years.20's is when I can work the most,so grinding for 2 years for great compensation and even more lucrative exit opportunities isn't a bad deal at all
@Onehstly
@Onehstly 3 жыл бұрын
When it comes to salary. I look at how much I’ll be making per hour not what they have offered me per year
@twicesaurous-9310
@twicesaurous-9310 3 жыл бұрын
Can you explain why that is? Does it really make a difference if its going to be the same compensation anyway?
@Onehstly
@Onehstly 3 жыл бұрын
@@twicesaurous-9310 you’re not being compensated the same amount for your time per hour. £50,000 per year on 50hours/week is around £19.23p/h vs 100hours/week which is around £9.61p/h. I haven’t even accounted for tax yet and it’s below the London living wage
@zakkhan6054
@zakkhan6054 3 жыл бұрын
honestly so true tech guys earning more than ib guys per hour. IBD guys earn mcdonalds salary based on hourly rate
@dillonjeffares4434
@dillonjeffares4434 3 жыл бұрын
Good point. Many people forget to think about this. Junior bankers work like slaves and their salaries are nothing to be excited about...
@CrowPlaysHD
@CrowPlaysHD 3 жыл бұрын
@@twicesaurous-9310 People forget, that you can use the excess time to make more money matching the IB annual salary.
@Nosekname
@Nosekname 3 жыл бұрын
Covid 19 taught me if we can spend a whole year making huge money will be worth it, have time for friends and family is priceless BUT it won't be that priceless if you had financial difficulties.
@Rspservers09
@Rspservers09 3 жыл бұрын
great video very well structured
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Thanks!
@bronxswernge
@bronxswernge 3 жыл бұрын
another great video!
@kynchan3332
@kynchan3332 3 жыл бұрын
I suppose it depends on if you are close to a recession or a period of expansion. If close to a recession it can be an extremely rough career and a period of expansion is very nice.
@MsThinkmoney
@MsThinkmoney 3 жыл бұрын
holy fuck when he was asking the rhetorical questions. THEY WERE SPOT ON
@SamJones-jg4lf
@SamJones-jg4lf 3 жыл бұрын
Where is a good place to look for start up roles? Find these vids really useful
@bennettbullock9690
@bennettbullock9690 Жыл бұрын
One nuance about a finance career versus a tech career is that a finance career is often more math-friendly. So if you're technically inclined but you enjoy the math side of things more, you might fight yourself alone in a tech company where all they care about is hooking things together. It is true that data science or AI fill this gap to a certain degree, but these are often an afterthought. Showing equations is the easiest way to lose friends in tech. Because so many people in the industry don't really understand AI, because AI has become so handwavy at this point, and because data science is largely a matter of validating random managerial opinions, you may find the level of rigor and precision required in quant finance a lot more refreshing.
@joshlevy4802
@joshlevy4802 3 жыл бұрын
Exit opps- good, money- , skills learnt on the job, builds resilience.
@henrytang1346
@henrytang1346 3 жыл бұрын
Stock and Option bonus package in tech is insanely good.
@lmak2122
@lmak2122 3 жыл бұрын
Hello Afzal thank you for the massive value you're constantly giving us. I have a question, can you explain why investors in the first place deal with investment banks ? why is it a better investment when they buy those financial products like the "half a yard for 4 cents" in the Industry series or stuff like that, why those investors don't put their money in hedge funds or real estate ? I am trying to understand this in order to get the bigger picture of IB. Thanks!
@GunR
@GunR 3 жыл бұрын
nahh id rather make LOTS of money and give up on partying and jamming out....getting too old for that shit. gotta make money buy a house, build a family
@kingsuch995
@kingsuch995 3 жыл бұрын
Yeah but how are you going to start a family if you can’t leave work
@kennedyroberts8159
@kennedyroberts8159 3 жыл бұрын
Omg 1 of my favorite books! Dale Carnegie
@annajones9701
@annajones9701 3 жыл бұрын
No where near as it once was. They have high turn around. Plus more lucrative careers now in other fields such as Fang companies - Facebook, Google , tech start ups where you own share of equity in seed A round, hedge funds, private equity, family office etc. Although if heading in finance still worth doing for 2 years to get some experience and add to CV then move on.
@commitmentH2
@commitmentH2 3 жыл бұрын
Great video!
@melissadasilva7404
@melissadasilva7404 3 жыл бұрын
gosh it feels like this video was made for me. i am just now graduating with two degrees - one in finance and one in data science, and i’m just so torn on which route to choose. both sides have things that the other doesn’t offer, and it seems so difficult to know what chance to take. anyone in the same boat?
@ThomasFoolery8
@ThomasFoolery8 2 жыл бұрын
I’ve worked in both elite tech and elite finance. Do tech it’s the future. All of my trader friends are sweating that their jobs are being automated away by technologists.
@hungrylion7742
@hungrylion7742 2 жыл бұрын
Do tech
@jesslynmarcellachang2537
@jesslynmarcellachang2537 3 жыл бұрын
Hi Afzal, I find your videos very insightful. I am working in a bulge bracket, but starting off as a trade support. However, I am interested in moving to the front office. Heard that it’s rather difficult to do so. Curious about your thoughts on this & if you have any tips, please share.
@hmz5500
@hmz5500 3 жыл бұрын
Can you please do a video on which careers you can go into with Economics or finance degree?
@farogatolimjonova9566
@farogatolimjonova9566 3 жыл бұрын
Interested as well. I observe wages of Evon,business alumni are much below than they were before(
@BS-ww6fj
@BS-ww6fj 3 жыл бұрын
Awesome to see how your editing skills improve over time :)
@Marine-vw3vi
@Marine-vw3vi 3 жыл бұрын
Great job, would love a video on VC !
@WatchWatchlist
@WatchWatchlist 2 жыл бұрын
I'm preparing for a job in banking now. It does feel like I'm going into the wrong industry some times. Especially when I see someone a grade over me graduate and get a huge salary in tech.
@alessiosilvestro5530
@alessiosilvestro5530 3 жыл бұрын
Afzal, what’s the jumper you’re wearing in this video? Cheers mate
@thekingslife7025
@thekingslife7025 3 жыл бұрын
Hey Afzal Love your videos just a small request could you do a video on the Investment Banking Industry in CANADA!
@The1997aris
@The1997aris 3 жыл бұрын
How can I break into tech with a Business Administration bachelor? A master's in Business Analytics or should I stick to the finance path ? ( I find interest intellectually in both).
@zz-dk4sv
@zz-dk4sv 3 жыл бұрын
Apply to a sales business development role at a big tech company like AWS
@hotelmanagerchannel
@hotelmanagerchannel 3 жыл бұрын
I honestly think there is a better outlook for banks in wealth management than investment banking
@kingmike6951
@kingmike6951 3 жыл бұрын
Can you do one on asset management still attractive. I like this video
@nycto16
@nycto16 3 жыл бұрын
Request: Can you make a video on Muslims in investment banking? I mean i want to go in banking/finance industry but little bit confused regarding "interest" thing. And working in western countries probably NYC WallStreet.
@alessandropelliccioni1311
@alessandropelliccioni1311 3 жыл бұрын
it's ridiculous how some guys have no problem with working 80+hrs a week. THIS IS NUTS!
@alessandropelliccioni1311
@alessandropelliccioni1311 3 жыл бұрын
I left a like...appreciate the hustle...CHEERS!
@jirensama1622
@jirensama1622 3 жыл бұрын
I really want to be an investment banker because my interests are inclined towards it
@hansfofack301
@hansfofack301 3 жыл бұрын
Will you do more industry videos?
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Yeah! Just been extremely busy!
@rodrigogonzalez2673
@rodrigogonzalez2673 3 жыл бұрын
Currently applying to IBD in a big bank. I'm eager to see this rn
@jesslynmarcellachang2537
@jesslynmarcellachang2537 3 жыл бұрын
An insightful one. I am working in a bulge bracket, but starting off as a trade support. However, I am interested in moving to the front office. Heard that it’s rather difficult to do so. Curious about your thoughts on this & if you have any tips, please share.
@ThomasFoolery8
@ThomasFoolery8 2 жыл бұрын
I did this. It’s a way to sneak in to the prestigious front office but get in through the back door. Let me tell you, it is not easy. If it were, more people would take this back door. At the end of the day, you do need to prove yourself as being worthy of the front office by performing at a very high level. The thing is, if you could perform at this level to begin with, you’d likely get in through the front door. In my case, I’m too lazy to study up for the intensive interviews required to get into the front office, but I happen to know I’m smart enough for it because I’ve always been smart enough for anything I’ve applied myself to. Once I was in, I hustled my ass off to prove to the people around me that I’m the real deal, and over time, management recognized that I deserved more responsibility and belonged in the front office, so after pushing for front office responsibilities during every 1-on-1 meeting, and knocking out every mini-project they gave me related to front office work, they eventually conceded.
@chuanbinphoe7282
@chuanbinphoe7282 3 жыл бұрын
Hi Afzal, can you do a video on Tech in IB as a career?
@shreebudhathoki5000
@shreebudhathoki5000 3 жыл бұрын
Can’t wait Afzal
@DXmYb
@DXmYb 3 жыл бұрын
Consider the Tax you'll end up paying Income Tax is the obvious one Capital gains is another to consider As your ISA allowance is £20,000 year
@RY-cu8of
@RY-cu8of 2 жыл бұрын
Thank you very much for your video sharing. I would like to venture to ask if I can transfer your video to Chinese websites so that more people can benefit from it.
@Charlie0311
@Charlie0311 3 жыл бұрын
Now days there are many other jobs that can pay you big salaries, however investment bankers (especially graduates) are way ahead. At the age of 21 at a bulge bracket investment bank, you could earn £70-£90k. 😱😲Mind boggling
@Anonymous-xr8hx
@Anonymous-xr8hx 3 жыл бұрын
Not sure that's realistic. I'm pretty sure it's more like £50-£60k as an analyst in the UK.
@AfzalHussein
@AfzalHussein 3 жыл бұрын
£50-£60k base salary. And then bonus anywhere between £0-£40k. But keep in mind you'll be expected to do 80-100 hours a week for your first two year as a given. So it's kind of like working two jobs and being paid for two jobs, if that makes sense?
@Anonymous-xr8hx
@Anonymous-xr8hx 3 жыл бұрын
@@AfzalHussein That makes perfect sense thank you for clarifying. If you don't mind me asking, what sort of things can a university student do other than internships to make themselves stand out if they want to apply to an investment bank when they finish their degree? And should they teach themselves to become an excel wiz/how to touch type etc or are those skills people generally learn on the job?
@TP-kn4to
@TP-kn4to 3 жыл бұрын
@@Anonymous-xr8hx learn python and be proficient at excel !
@avidanweisz4991
@avidanweisz4991 3 жыл бұрын
@Afzal Hussein can you do a video on investment banking or law?
@simonlim1179
@simonlim1179 3 жыл бұрын
Funny I stumbled upon this video after receiving an IB offer
@jefftX
@jefftX 3 жыл бұрын
Azfal, do you anticipate significant work life balance changes in banking over the next several years, in order to try and remain competitive for talent vs consulting and tech?
@snowbear163
@snowbear163 3 жыл бұрын
Just to note, geography plays a role here. IBD in California has been looked down on ever since about 2010. It's a negative. The financial crisis hit California very hard and the "personalities" present in finance are too out-sized and too flagrant. Suspenders, contrast collars, "tough guys", people are just tired of it. Medical doctors are still the most prestigious career. Everyone loves doctors. Nobody likes finance. I worked fixed income at a large bank before the 2008 crisis and it's still a stain that is hard to get off in California. You'll make way more friends and be more accepted by being a fireman, a dentist, a pediatrician, a start-up founder of a firm that helps needy people. When people hear finance they think of a fat guy in suspenders with a cigar in his mouth pulling up skirts at work, drinking whiskey at lunch, and just being a creep. It's a hard stereotype to shake.
@shamarg6
@shamarg6 3 жыл бұрын
Lol, you do know the US has better states than California?? Lmfao. You are who you are, not your job.
@snowbear163
@snowbear163 3 жыл бұрын
@@shamarg6 California is the best place to be in the US. And what you do has just as much impact as who you are. If you work for the police right now things aren't so hot for you socially. Saying that your job never matters in social circles is ignorant.
@snowbear163
@snowbear163 3 жыл бұрын
@@shamarg6 still think banks and hedge funds have a good reputation and people who work there are looked up to now? Have you seen the news? All out war on Wall Street people.
@shubhamraj-jw3xv
@shubhamraj-jw3xv 3 жыл бұрын
Make a video related to Propietary trading in banks or prop shop
@TuddecBMW
@TuddecBMW 3 жыл бұрын
As a student who wants to be a trader, market making seems boring to me so since banks have all but stopped prop trading since '08 hedgies are the way forward. PE looks intersting too (even if it's not trading) but it seems a bit shit at junior levels where you have to spend your life managing fonts and logos on powerpoint presentations
@haiderchaudhary1399
@haiderchaudhary1399 3 жыл бұрын
What value could a finance/sales person provide at a tech company? Or something like that
@igntrollington5519
@igntrollington5519 3 жыл бұрын
Is it true that some quant dev roles pay 300K+ out of college (e.g. at Citadel, DE Shaw, etc.)?
@denniscm6-2
@denniscm6-2 3 жыл бұрын
Nice video
@josestubbs9379
@josestubbs9379 3 жыл бұрын
Great video as always mate .tech Is good but I feel that your middle market ib and eilte boutique pay more then your average start up and to get the real big money in tech you need to get to the ipo stage and for every unicorn or success how many fail as for persitige both banking and tech are eilte how ever that financial services hate is now spread to the scion valley bro as well so either way people hate who ever is on top
@AfzalHussein
@AfzalHussein 3 жыл бұрын
Thanks! Yeah, fair play, all fair points.
@blackice214
@blackice214 3 жыл бұрын
Yea finance is not what is use to be ...Tech is the thing of the 2020’s massive stock options , High Pay, Benefits, and 5 of the largest companiesare tech and control the theatre right now.
@augustsipped
@augustsipped 3 жыл бұрын
can I get into one of these better careers with an econ degree??????
@farogatolimjonova9566
@farogatolimjonova9566 3 жыл бұрын
Same question, I wish I had chosen tech degree
@yvesacquisition
@yvesacquisition 3 жыл бұрын
when you see all things said about IB, do you think that working in IB precisely in M&A is a good things if you want a world be a better place?
@CoolDBG
@CoolDBG 3 жыл бұрын
Afzal when we apply to tech roles what does that mean specifically? Like computer programming/product design?
@CoolDBG
@CoolDBG 3 жыл бұрын
And similarly to liberal arts majors applying into the world of finance isn’t it difficult competing against computer science majors?
@pratikkhanna3182
@pratikkhanna3182 3 жыл бұрын
Hey, Afzal, I am not great at Maths and Accounts, My fav subject is business and finance. So what do suggest me to do as a career? right now I am doing B.Com in Manipal Dubai What Career Should i go with ( name of a job ) And yeah talking about dream job , i like travelling and convincing people .
@johnnyies
@johnnyies 3 жыл бұрын
what do you think about equity research? how bad are the hours??
@getshrekd_7825
@getshrekd_7825 3 жыл бұрын
Hi, I'm a psychological and behavioural science student at LSE and I've always wanted a career where I get paid lots of money so I originally thought investment banking at a top bank was the route for me, but you've made me think twice about this. What other jobs (which pay approximately as much as investment banking) at what companies would you suggest I could consider instead of investment banking? Thanks in advance for any advice you can give me
@liqritrs8391
@liqritrs8391 3 жыл бұрын
Are you considering your competition? If someone will pay you a lot of money when you don’t have a niche degree or skills, it’s because it’s either high stress or long hours... in ib it’s 80+ hours a week and stressful. Don’t choose a career for money, it won’t work out.
@getshrekd_7825
@getshrekd_7825 3 жыл бұрын
@@liqritrs8391 Hi what do you mean by competition? This is some fair advice you're giving, but I just want to try this type of high salary career even for a short period of time, and then I can exit to a more relaxed career
@alexgrec9439
@alexgrec9439 3 жыл бұрын
What do you think, will undergrad accounting be better option for IB than economics? Or vice versa?
@nycto16
@nycto16 3 жыл бұрын
Economics is better...
@liqritrs8391
@liqritrs8391 3 жыл бұрын
Economics 100000%
@vivienne4313
@vivienne4313 3 жыл бұрын
Accounting or Finance is better!! You learn more related information and accounting is the bread and butter of every business, transactions etc. It’s a lot better to learn. Economics is more about the government, policies and economy, to many surprise not really related to finance at all. I’ve spoken to many professionals in the industry and they’ve confirmed this
@nycto16
@nycto16 3 жыл бұрын
@@vivienne4313 But mostly graduates in IB are Economics graduates or double majored in Economics and Finance not accounting.
@ravache5660
@ravache5660 3 жыл бұрын
Hey Afzal, I see you talking a lot about Goldman Sachs, but what do you think about BTG Pactual ?
@FabioTheGreat
@FabioTheGreat 3 жыл бұрын
Nah, I just wanna make money and work on my hobbies.
@clem2248
@clem2248 3 жыл бұрын
what’s the name of the guy that made the tiktok thing?
@markmulreany6477
@markmulreany6477 3 жыл бұрын
Do you know about Investment Banking in Dublin? Would you recommend a finance career in Dublin?
@liqritrs8391
@liqritrs8391 3 жыл бұрын
It’s shite. Dublin is mainly financial services and accounting, you know yourself it’s the big 4 dominating the area. We need to leave Ireland ASAP mate.
@markmulreany6477
@markmulreany6477 3 жыл бұрын
@@liqritrs8391 I think with Brexit you might see some companies move to Dublin from London.
@Kyle-ke4hk
@Kyle-ke4hk 3 жыл бұрын
Is there a community for high schoolers who are interested in finance or would like to see if it’s really their thing? I’m lost where to get opportunities to see if it is really my thing. It would be much better to talk and meet other high schoolers to determine.
@nnnn818
@nnnn818 3 жыл бұрын
what a thumbnail!
@AfzalHussein
@AfzalHussein 3 жыл бұрын
👊🏽
@stevencruz141
@stevencruz141 3 жыл бұрын
Hey Afzal, I’ve got an opportunity with CIB client onboarding, what’s the salary range in this role?
@superblitz2274
@superblitz2274 3 жыл бұрын
Tech and consulting have equally terrible work life balance
@lakakhahaha2423
@lakakhahaha2423 3 жыл бұрын
I would enjoy the investment banking type of work and don’t mind hours but I’m not the smartest. I don’t think I can make it with my A level predictions being A A B
@oldengrimsey6785
@oldengrimsey6785 3 жыл бұрын
I like this video. Honestly, I only knew ur vids after watching ur review of HBO's Industry series. And yes, I find u cute hahaha. Sorry 😅
@Laughbankrip
@Laughbankrip 3 жыл бұрын
I think Fintech is the new place to work.
@mdmahamudhassanbappy7449
@mdmahamudhassanbappy7449 2 жыл бұрын
At the age of 36, Msc in Global Financial Trading from UK can help me to devolop a new trading career or age will be a barrier, previous education is in Accounting Could you please give this advice
@zunaidrafique4148
@zunaidrafique4148 3 жыл бұрын
Is it a smart or dumb to apply to both Consulting and IB whilst at uni? I am more attracted towards consulting even if the pay is less than IB but still including IB as an option only because of the money lol.
@matteodabbundo652
@matteodabbundo652 3 жыл бұрын
Afzal: Is Investment Banking Still Attractive? Me: Buy the Dip, Short the VIX, Fuck BTC!!!
@AfzalHussein
@AfzalHussein 3 жыл бұрын
😄
@siddharthnandi8567
@siddharthnandi8567 3 жыл бұрын
i see you're a man of culture
@michaellegesse8803
@michaellegesse8803 3 жыл бұрын
Can someone link the tiktok
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