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the truth about investment banking

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Avatar for Jj15
Jj15
8
Original post by gr8wizard10
im at uni


Are you a postgraduate? What course are you studying and at which uni?
Original post by Himtiaz
Ball park figure how much do you make including bonuses
Do you reckon you work more hours than a doctor?

Lol yeah doctors work around 60 hours, plus or minus 10 hours, some doctors work less than that
I remember on one previous thread you mentioned you were muslim... if so... would you say working in investment banking clashes with your Islamic beliefs regarding interest? I've heard differing opinions... some say it depends on the division you're in - S&T / equity research less so? What about M&A? Sorry if it is a sensitive topic...
Original post by Jj15
Are you a postgraduate? What course are you studying and at which uni?


no a 3rd year undergrad

finance at a semi target

Original post by icedark_knight
I remember on one previous thread you mentioned you were muslim... if so... would you say working in investment banking clashes with your Islamic beliefs regarding interest? I've heard differing opinions... some say it depends on the division you're in - S&T / equity research less so? What about M&A? Sorry if it is a sensitive topic...


yeah it does clash with religious beliefs but im not a religous person
Original post by gr8wizard10
no a 3rd year undergrad

finance at a semi target



yeah it does clash with religious beliefs but im not a religous person


What beliefs does it clash with? Like with the rules about riba? Or gambling/risk-taking?
Original post by Trapz99
What beliefs does it clash with? Like with the rules about riba? Or gambling/risk-taking?


interest predominately, as islam has a clear stance against it to probably one of the higest degree.

wouldn't recommend the job for islamically conscience people
Original post by gr8wizard10
interest predominately, as islam has a clear stance against it to probably one of the higest degree.

wouldn't recommend the job for islamically conscience people


But surely your work doesn't involve any interest though? Isn't that just for retail banks? What if you work for a pure investment bank with no retail division like Goldman Sachs?
Original post by Trapz99
But surely your work doesn't involve any interest though? Isn't that just for retail banks? What if you work for a pure investment bank with no retail division like Goldman Sachs?


we advise on capital raising (all banks who have an advisory arm would do that), where debt is generally a huge component especially for sponsor deals i.e LBOs or debt financing and what not.. which heavily involves interest. interest is a good way to monetize value so it can't be discreted.

as a coverge banker we also cover ECM and DCM deals
Original post by Trapz99
What beliefs does it clash with? Like with the rules about riba? Or gambling/risk-taking?


is there a third muslim on this thread? xD
Original post by icedark_knight
is there a third muslim on this thread? xD


No I'm not Muslim :smile:
Original post by Trapz99
No I'm not Muslim :smile:


Never mind then lol... You knew about the term "ribaa" which made me curious...
Surely if you are not directly earning interest then it should be fine?
Are you considering doing an MBA at some point, and would a bank fund you for it? Also, which unis are targeted by investment banks to recruit from?And lastly, would a Poltics with Economics degree be okay for investment banking (if done at Bath)?
Original post by AenigmaFx
Surely if you are not directly earning interest then it should be fine?


depensd on how much you weight your religious beliefs in life. interest is one of the worst things in islam

Original post by A Wild Student
Are you considering doing an MBA at some point, and would a bank fund you for it? Also, which unis are targeted by investment banks to recruit from?And lastly, would a Poltics with Economics degree be okay for investment banking (if done at Bath)?


not considering an mba. no a bank won't pay for it, given it's uselessness in the role. uni's targetted: oxbridge, lse, warwick, ucl & imperial

yeah bath tends to be a good feeder iirc. noone was from bath in my summer cohort (for IBD) but i know some bath ppl who are in banking
What percentage of your cohort were from non-targets? I am worried that my chances have just been minimised from not going to a target
(edited 7 years ago)
Original post by AenigmaFx
Surely if you are not directly earning interest then it should be fine?


Any association, not just direct.
What's the longest you've worked in a day
I've heard of bankers working from 5 am to midnight and then starting work at 5 am again
Original post by seismic cat
Do you know if Southampton Uni is a semi-target? We do get JP Morgan coming in every now and again but I feel they target our tech students rather than for fiannce.

What percentage of your cohort were from non-targets? I am worried that my chances have just been minimised from not going to a target


Southampton uni is targeted for tech, it's not targeted for front office
Good applicants will have a chance tho
Original post by AenigmaFx
Surely if you are not directly earning interest then it should be fine?


No, working with any firm that lends money with interest or helps this to happen is haram. This is why a banker would be best not to be incredibly religious.
Original post by ilikecats12
No, working with any firm that lends money with interest or helps this to happen is haram. This is why a banker would be best not to be incredibly religious.


Debatable tbh... many islamic scholars have said that working in banks is permissable, as long as you aren't directly associated with interest... so back office roles are likely to be fine... main issue is front office roles...

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