Why You'll Never Become A Managing Director In High Finance

[@AfzalHussein]

The first 1,000 people to use the link will get a 1 month free trial of Skillshare: skl.sh/afzalhussein06231

[@neslin77]

i am at Goldman and can see MD´s, VP´s with Partners, Holidays and Children. Work Life Balance is needed so you do not fall out. Work smart, not only hard. Sorry, but i would say, you can only speak about something when you have worked at least a few years in one company and not only as an intern. I am since 2008 working in investment companies and it is not like you are saying anymore.. of course, 5 days a week face time, networking etc. necessary, but also very important to have family and kids as you network as well through your family.. kids who go to the same school like your clients, etc...

[@Hs5687]

You Forgot abt Being Spineless & Obedient to the Powers that be 😊

[@wires__]

You saying "People climb the ladder, get to the top, and realize they're on the wrong ladder" really resonated with me. Wow, that is such a great explanation.

[@lebumjames1373]

Well yeah if you’re creative you can make just as much if not 10x more money than any MD/VP/etc. I’d find it to be fairly depressing if my only accomplishment was a superficial number in my bank account and a “prestigious” job title.

[@ashishshinde2623]

In the end "The employer is not going to remember you much after you die or leave the organization", a a great point which everyone should keep in mind. What matters is our family, relatives & friends. Cause family is what matters the most, in the end for which we all live. 🙂💯

[@flyintheskyd3214]

So true, i remember when working at one IB a colleague said to me when you die your headstone isn't going to say ' X was a great worker who worked 18 hours a day' GO HOME. Made me realise health is wealth and family first.

[@Jinke888]

I was a ED at a bulge bracket. Im 39 now. If you can't put everything, every relationship to one side and commit to the job entirely, and make it your central prority in life, you wont make it to VP even. Forget about the higher positions. Read Predators' ball - and see how Mike Milken of Drexel worked, that's the level the top guys are operating on.

[@AfzalHussein]

Great insight, thanks for sharing!

[@bacool]

Damn. What I don’t understand is how do these guys have any partners, wives, etc? Kids?

[@Jinke888]

@@bacool wives have to know this is how it goes. Kids will likely be distant. When Milken went on holiday with his family, he would get 2 suites. One was for the family, one was his office. He was always business as usual. I worked in HK and Shanghai. My MD literally didn't stop.. his trail of emails coming in at 4, 5 in the morning.

[@filosty5350]

@@Jinke888 now what's the point, You don't have freedom You don't have any time to spend with your family You do have is BIG MONEY But instead of working decades on the job you hate, one should make a good amount of money and be financially free and enjoy life.

[@JayNarayanan]

​​@@filosty5350 some people are built different, to each their own.

[@BostonRoger]

I’ve reached a point where EVERYONE around me, at my level, is EXCELLENT at their job. It’s all about who you know and how you interact with them at this point. Fighting for highly visible projects and programs now.

[@Southasianchameleon]

What are some things that you do which sets you apart? I am a Software Dev in Banking and I feel motivated by the competition and would appreciate advice. :)

[@bsetdays6784]

I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $160k. Somehow this video has helped shed light on some things, but I'm confused about the current market volatility, I'm a newbie and I'm open to ideas.

[@kaylawood9053]

Investing in stocks is a good idea, a good trading system would puts you through many days of success.

[@africanboi4542]

Was investing on my own for about 3years, did my own study and analysis before actually buying, things became rather difficult after the pandemic which was right about when I reached out to a portfolios-advisor for guidance, It’s been over 2 years and I’ve scaled up a stagnant reserve of $280K to $700k in just about 24months.

[@adenmall7596]

@@africanboi4542 Interesting. I've a lump sum doing absolutely nothing at all in my bank account, i wanna gets something started with it. You seem to be doing excellent for yourself, how do you achieve this?

[@africanboi4542]

@@adenmall7596 Being guided by “Eleanor Annette Eckhaus” who I found on a CNBC interview where she was featured and reached out to her. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.

[@JeePsSsS]

I am a VP at one of the biggest investment banks in the world (back office) and I have NO interest in becoming an MD. Actually I dont think I even want to be an ED. VP is paid well with much less pressure.

[@AfzalHussein]

Thanks for sharing! 👍🏽

[@errg9075]

no one asked

[@JeePsSsS]

@@errg9075 this is the topic of this video

[@thetimemaster1475]

Did you go to a target school? If not, the how did you make it there and become a VP? I’m asking because I’m about to start college and I want to get into IB.

[@Will-kl5ri]

Back office doesn’t count. I worked back office at one of the big guys and the W/L balance was insanely manageable. Pay was garbage too. Fuck finance - go into tech sales and sell into Financial Services.

[@gokereafor]

Probably one of your best videos ever Afzal! Been following you for years, but I think this content really stands out, a lot of times many of us do not think beyond the bait in the room - which is money of course, also career in itself is just a part of life quadrant. Keep it going Brother!

[@AfzalHussein]

Ah thanks! Means a lot 💪

[@yt_Highness]

The way he speaks is like a friend

[@dac8939]

First job was front office at a BB and guy next to me was a VP and only 26. I had just graduated from masters and was an analyst. He was ruthless and rude. Actually, i was fired as could not put up with his rude behaviour sitting next to him all day. He went onto be a MD in New York for Morgan stanley. I managed to get into private equity.

[@AfzalHussein]

💪🏽💪🏽

[@jaybet3929]

Became friends with a MD. The most narcissistic, selfish, lying and manipulative person you'll ever know. If it weren't for our common hobby, I wouldn't want to be around this person. Not everyone will be like that, of course. The stories that he tells me, how he got to the top, are horrifying. Basically stabbing everyone and their mother in the back, including his family. What for? He says: "I always get what I want." So that must be his motivation.

[@lineage13]

MD at a major bank? My experience is the opposite. MDs at JP Morgan I know seem more humble than your average person.

[@bolt7047]

What is the hobby you share?

[@EZ1111]

Although I don't work in finance/IB, I work in Procurement and everything you said here is applicable lol. I have a range in my head I hope stay in within throughout my career. Before when I graduated I wanted to climb to the top now I don't want it anymore.

[@AfzalHussein]

😁😁

[@Noknes]

Did you do a supply chain major?

[@EZ1111]

@@Noknes nope I’m a marketing graduate only entered in 2020 the money I’m seeing now wouldn’t see it in marketing

[@Noknes]

@@EZ1111 As in it is way better than marketing? Also I am surprised you got a job with a marketing major. However I guess if you did a general business degree it would make some sense.

[@EZ1111]

@@Noknes I graduated 2017 I was very hooked on finding a marketing job, I didn’t a marketing rotation at my graduate job and I just thought “this isn’t for me at all”. 2020 came and I got a role in public sector infrastructure construction. I haven’t looked back since, I’m doing my professional qualifications called CIPS and there’s more space to upscale too. I got the role because I had “commercial experience” from my graduate job which was transferable.

[@yoqiu_]

You'd be surprised that for a lot of firms, it has as much to do with identity and culture politics than it has to do with performance, skill, knowledge, etc. It's soul crushing to realize that 'whiteness' has a large influence in your success, even today. Being 'yourself' can isolate you and put you at odds with those who silently look down or disapprove of you. Being 'fake' and playing a persona is what some people inevitably end up doing. That is to say: suppress your own thoughts and feeling, blend in, and "hide" your "true" self. Sorry if this is offensive, but for some people this is an unfortunate reality. It can be emotionally exhausting and wear you down if you find yourself doing this for money and success.

[@FBeckenbauer4]

Whiteness doesn't have a large influence in your success, Asian Americans and Indian Americans make more than white Americans. Stop spreading hateful nonsense.

[@GrieferStudios]

Lmao this is utter bullshit, most firms have specialized programmes for women and minorities that actively discriminate against white males. The bar for getting hired is significantly higher for whites due to bullshit diversity rules. Women and minorities practically get the job for free

[@Dr.JubairsFinance]

I thought this video was excellent. Really well explained, especially the "how much money do you really need" question

[@alexanderesaulov6856]

Thanks a lot for your videos, could you please do a video breaking down the responsibilities of analyst / associate / vp for sales & trading?

[@AfzalHussein]

👊🏽

[@rajcs2952]

I wasn't financially free until my 40's and I'm still in my 40's, bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn't matter if you don't have any of them right now, you can start TODAY regardless your age INVEST and change your future! I sell on Etsy and also trade with Christine Morada,it's one of my primary source of income. Investing in the financial market is a grand choice I made. Great video! Thanks for sharing[Very inspiring! I love this

[@rahulgandhi5313]

A wise person should know that in order to build success, you should invest wisely and have proper knowledge or guide in the finance market.

[@rahulgandhi5313]

Started with an invested capital of $200,I was skeptical at first till I decided to try. It's huge returns is awesome. I can't say much though

[@zapata667fx]

I'm new at this, please how do I reach out

[@eddieortiz4096]

The fact that I make withdrawals without no problems is what I love most about her.

[@Dskamar611]

Shes always active on her Telegrm.

[@someonespeci1697]

please do RFP roles in asset management and career opportunities for this role!

[@AfzalHussein]

Will do 👍🏽

[@novelist5380]

Nice video brother, some people have no idea what they’re in for.

[@AfzalHussein]

🙏🏽

[@thetimemaster1475]

Very good video Afzal, thank you for your advice!

[@Danielwastakenwastaken]

I am not even in finance but this can be translated for so many fields, Thank you for the advice

[@AfzalHussein]

💪🏽👊🏽

[@dinosauhr]

Very informative video! I’ve been really loving your recent content - exactly what I need in my career right now and straight to the point!

[@AfzalHussein]

Thanks! Glad to hear that 😊

[@arishem555]

guess why I wouldn't ever subscribe to your channel without a second watcing your videos?

[@AnnaFed015]

There are some things that everyone should be aware of by now. Working with a financial professional could truly help you get ready for life. Since I was actively cashing out from my portfolio and finally made over 370k just in the first quarter while everyone else was whining about the downturn, I'm delighted I was able to contact my coach Rodger Michael Karl early this year...

[@chrisbarney1609]

Thanks Afzal. Great blend of insights, natural delivery, and editing.

[@AfzalHussein]

Pleasure. Thanks for the kind words!

[@lizardman2808]

once again top quality !!! i totally agree with what you are saying, especially that politics within the organization and the work life balance are crucial. Just a question not related to the video. what watch are you wearing?

[@burnsie123]

Great video. Thanks Afzal!

[@AfzalHussein]

👍🏽

[@luchozarco1379]

Thanks Alfzal for your great content.

[@AfzalHussein]

Pleasure!

[@danh4538]

One of your best videos yet. All the best

[@AfzalHussein]

Ah thanks! 💪🏽👊🏽

[@filosty5350]

Hi Afzal, I have a question about the Asset Management industry is that: A person has to be a techy guy To break into asset management industry, as I have seen many profiles and they have the programming skills,so......

[@filosty5350]

@IniestaXavi python and R

[@randomstuffman01]

Good video. Thanks. toronto canada.

[@AfzalHussein]

🙌🏽😊

[@hardknocksph.d2175]

Audio quality is great!

[@janreichenbach265]

In short, it's a supercompetitve field, and the more people apply for one open position, the less likey it is your application will win ! "The top", of course this is the case in every field, can only be reached by the very few, per definition.

[@Twestliw]

I don’t mind if you’re fake and play nice that’s makes sense, what I hate is when these same people drag others down. That shit to me is disgusting idk how those people sleep with themselves at night.

[@firstconsul001]

how pessimistic can you be Edit : I have a habit of judging a book by its cover. He wasn't pessimistic at all, he was just telling the truth.

[@AfzalHussein]

Watch the video lol

[@firstconsul001]

Ik, I commented this even before I watched this video. Your video is on point man. IB and other aspects of high finance is only for the biggest grinders. I am 15 and Ive been hyped about finance for years on end, I follow you for a reason Afazal. Gotta say, I don't regret a second of mine spent watching your videos. You really know how to deliver quality information in such a fun way

[@areebanwar9229]

This may be a leap but can’t you fundamentally heavily integrate the fact that there’s no need to rush when you’ve planned something well. This may be over simplified but I’m sure it would make a huge difference in work and life if you were patient before acting

[@garagefridge8930]

Hi Afzal, I'm 20 years old (Part-way through my ACCA) and trying to get into a chartered accountancy practice, what would you say is the best way into this particular part of finance? I've applied to trainee accountant roles but seem to be stuck in the bog with getting into the industry.

[@iamNinjitsu]

Hey even I’m doing ACCA, right now on knowledge level, can we connect on a social media plss I need people who can solve my doubts.

[@Christian123boom]

Best video so far. I appreciate the knowledge you are sharing with us! I purchased the Assessment Management guide, but I can't access it anymore as an error comes up. Can you please help me with this?

[@AfzalHussein]

Hey, thanks. That's unusual. Sorry to hear that. Please email me on [e-mail] and we'll sort it out 👍🏽

[@Christian123boom]

@@AfzalHussein Awesome, I will email you. Thanks!

[@UNKNOWN-1589]

A very important video. I really enjoyed this video and I think this is a wake up call. Fantastic video Afzal - I really enjoyed this. The maestro of Finance.

[@AfzalHussein]

Haha, thanks for watching!

[@amalpm7986]

Could you also make something related to Management Consulting?

[@AfzalHussein]

Will do.

[@jarenong]

@@AfzalHussein Thanks bro

[@amalpm7986]

@@AfzalHussein Thanks mate. You're the best.

[@nnnn818]

more vids like this! banker now and very useful for people looking at these careers to have the full picture

[@TonyN-n4l]

Great content!

[@fadet0green]

Some good thoughts shared indeed! Thanks Afzal!

[@nonsikelelodludlu6048]

Great video, very informative! However, for my sake turn the air on😅

[@AfzalHussein]

😅😅

[@folashocky2735]

Really good vids, Afzal! Keep up the good work 🙂

[@AfzalHussein]

Thank you! 💪🏽

[@andresalmonte4772]

Good job!

[@AfzalHussein]

👊🏽

[@TosinCKE]

You can start your own firm

[@davidsimentalmunoz6962]

What are the growth opportunities of a private banker? It is one of my dream jobs

[@Bintsgirl]

Great video Afzal! Really enjoyed it. Quick question, which curved monitor is in the background?

[@AfzalHussein]

Thanks. It's the LG UltraWide Monitor 49WL95C-W - 49 inch, Curved Monitor. Here's the link www.amazon.co.uk/dp/B08R5RVVXL/ref=pe_27063361_485629781_TE_item

[@Bintsgirl]

@@AfzalHussein thank you! Super helpful

[@AfzalHussein]

😊

[@LM-he7eb]

You have great content. I wish you had more views & subscribers. Unfortunately your channel focuses only on a certain group.

[@AfzalHussein]

Ah thank you. As long as I can help one person, I'm happy. Of course, the more the better 😉

[@JJRichardson_]

You didn’t finish reacting to Industry?

[@LEK-0000]

But I can do it because I have been under some revenge .. I am gonna show them

[@ARTECH83]

Very nicely executed

[@AfzalHussein]

Thanks!

[@charliesmith4086]

You should honestly be more worried if you want to become a managing director in high finance

[@anujithan9283]

Do you need A-Level maths to become an investment banker ?

[@AfzalHussein]

Nope! But Maths is defo good to have.

[@anujithan9283]

​@@AfzalHussein But Investment Banks like (Golden Sachs) pick people who go to top unis, have A-level maths, and are doing an economics degree that's why I'm asking I'm going to start A-levels this September and I Picked A-Level Maths, Business and economics.

[@AfzalHussein]

They also pick people who do and achieve none of those. They like people who they think can learn, develop and grow. Your grades and uni will take up 10% of your CV and application. The other 90% will be about your outside interests, hobbies and experiences and how they make you suitable for a career in the industry. Therefore, rather than focusing on grades make sure whatever you do end up doing you also try and get work experience and do relevant extra curricular activities.

[@anujithan9283]

​@@AfzalHussein Ok Thank you so much for your time and advice :)

[@AfzalHussein]

Good luck! 👍🏽

[@ajlinasaljunovic5081]

anybody got a link to his desktop ?

[@AfzalHussein]

It's the: LG UltraWide Monitor 49WL95C-W - 49 inch, Curved Monitor. No longer available on Amazon unfortunately.

[@ajlinasaljunovic5081]

@@AfzalHussein thank you so much !!

[@AfzalHussein]

Pleasure!

[@firstconsul001]

Yep, I am gonna be an MD... Oh wait, I aint gonna stop there. Partner, PE, Hedge Funds and a whole bunch of other opportunities !!!

[@zakboualem2737]

What about MD in the back office

[@AfzalHussein]

Requirements and nature of work are not as intense as a front office MD, however, it's still no easy feat and very demanding. From a pay perspective, many VPs / Directors in front office earn more than MDs in back office. Best to find something you enjoy/are good at and take it from there. Caveat - anything is possible; you can find examples for every case/scenario.

[@kushpatel8199]

bro... IT IS HOT

[@AfzalHussein]

😅😅

[@riskmetrix1]

Great videao

[@AfzalHussein]

Thanks!

[@terezinhadutra5907]

Trazer para o português

[@BWV478]

What do you know ...

[@MrMiniPancakes]

I will- my dad is one 🤣🤣🤝

[@reeseanderson4432]

Man's fighting for his LIFE in that heat 💀💀💀

[@AfzalHussein]

😅😅

[@zukk1838]

Noooooo

[@kl8581]

But I hate being fake… lol

[@AMP_PLUS]

12:36 yeah its incredibly hot here aswell. i dont even move my body and start sweating like crazy. nice video

[@GrieferStudios]

Forgot to add how you'll never be MD as a white male, women get such insane advantages in the college recruitment process these days, with many firms having specialized programmes for them

[@eshawn____2373]

😂😂😂 Bullshit. You haven’t seen the MD roster at banks?

[@milesbarksdale2446]

Yes as if 95% of MDs are not white males from privileged backgrounds. Instead let’s target the 5% “others” instead of the nepo babies.

[@resa574]

It’s simply the fact that there already lots of white men and they need to hit diversity numbers or else it’s a bad look

[@Rudenbehr]

Aren’t most MD white males (in western countries)

[@uinisefoochong5917]

Lmao why would anyone want that job 😂 i could get that job working with the people i know but it's not ideal to me

[@astefani7363]

You need to be lucky :-)