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The Somali Society Mk III

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Original post by Chukkeigh
I wanna know what all these words mean, such as Rare, SEO etc. It sounds exciting.


Rare is a talent recruitment agency essentially. They take bright students and develop them into corporate robots and link them with big names to hopefully land them a job at some of the biggest companies in the world

SEO - Sponsors of Educational Opportunity essentially does the same. They offer talented/smart kids from disadvantaged backgrounds (ethnic minorities and poor people) workshops/events/skills to build them into people ready to enter the professional environment.

Original post by missfats
Investment banking/economics


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lol wut?
Original post by Abdul-Karim
Rare is a talent recruitment agency essentially. They take bright students and develop them into corporate robots and link them with big names to hopefully land them a job at some of the biggest companies in the world

SEO - Sponsors of Educational Opportunity essentially does the same. They offer talented/smart kids from disadvantaged backgrounds (ethnic minorities and poor people) workshops/events/skills to build them into people ready to enter the professional environment.



lol wut?


Well technically? aha

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Original post by missfats
Well technically? aha

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If she was referring to things such as

GS - Goldman Sachs
JPM - JP Morgan
IBD - Investment Banking Division
M&A - Mergers & Acquisitions
S+T - Sales & Trading
SW - Spring Weeks (insight for 1st year undergrads)

Deconstructed the abbreviations, that's all to do with Investment Banking :rolleyes:

Why did you decide to take on Economics?

What's your career ambitions?
Original post by Abdul-Karim
Rare is a talent recruitment agency essentially. They take bright students and develop them into corporate robots and link them with big names to hopefully land them a job at some of the biggest companies in the world

SEO - Sponsors of Educational Opportunity essentially does the same. They offer talented/smart kids from disadvantaged backgrounds (ethnic minorities and poor people) workshops/events/skills to build them into people ready to enter the professional environment.



lol wut?


Correct me if I'm mistaken but I assume that you are Muslim, so I was wondering how you managed to convince your parent to let you go into banking. I know this sounds immature, but whenever we are discussing career aspirations, I tend to bring up investment banking and in 9/10 cases this causes a ****storm, since any money I would earn would undoubtedly be haram. So yeah I was just curious as to how you approached the subject with your parents and how did they react?
Original post by Xenorebrem
Correct me if I'm mistaken but I assume that you are Muslim, so I was wondering how you managed to convince your parent to let you go into banking. I know this sounds immature, but whenever we are discussing career aspirations, I tend to bring up investment banking and in 9/10 cases this causes a ****storm, since any money I would earn would undoubtedly be haram. So yeah I was just curious as to how you approached the subject with your parents and how did they react?


Why do I need to convince my parents with matters related to my personal life and career progression? If they chose not to like it, that's their problem. Although, they're supportive of the route I chose to go down, given my motivation, so I never had that problem, fortunately.

The money I made while interning I distributed amongst family anyway so no-one's complaining.

Do expand on the highlighted. Do you know what an Investment Bank does and the difference between retail and investment banking?
(edited 9 years ago)
I know very little about investment banking, but I would think that its safe to assume that any money earned would come from interest in one way or another. I honestly am not sure, but most scholars say that it is haram???

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(edited 9 years ago)
Original post by Xenorebrem
I know very little about investment banking, but I would think that its safe to assume that any money earned would come from interest in one way or another. Or am I wrong?


Yes, you would be wrong. The very fact that your parents are ignorant on the matter would suggest you haven't researched what IBs do enough to come to a justified conclusion as to why it would be a worthy career path.

Look into the business lines an investment bank offers (Markets/M&A/Structured Finance/Global Research/Cross-Asset/Wealth Management/IPO/Coverage etc..) and research what they do, if you are genuinely interested.

In future, quote me so I can see you responded.

To be fair, if you don't have the basic common sense to find out what an IB does, especially given all the readily available information, I doubt you'd have much chance of ever entering the industry.
(edited 9 years ago)
Original post by Abdul-Karim
The money I made while interning I distributed amongst family anyway so no-one's complaining.


MashaaA that's really nice of you! :smile:
Original post by Abdul-Karim
If she was referring to things such as

GS - Goldman Sachs
JPM - JP Morgan
IBD - Investment Banking Division
M&A - Mergers & Acquisitions
S+T - Sales & Trading
SW - Spring Weeks (insight for 1st year undergrads)

Deconstructed the abbreviations, that's all to do with Investment Banking :rolleyes:

Why did you decide to take on Economics?

What's your career ambitions?


My brother recommend it to me, idk lool.
And funnily enough, me and my brother were discussing economics and the job prospects today.
He also is pursing a degree in economics soon.
Tbh I don't really want a degree in economics.
I thought it was a fantastic 4th subject. :tongue:

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Original post by Abdul-Karim
Yes, you would be wrong. The very fact that your parents are ignorant on the matter would suggest you haven't researched what IBs do enough to come to a justified conclusion as to why it would be a worthy career path.

Look into the business lines an investment bank offers (Markets/M&A/Structured Finance/Global Research/Cross-Asset/Wealth Management/IPO/Coverage etc..) and research what they do, if you are genuinely interested.

In future, quote me so I can see you responded.


I will do some research here and there, but tbh I am just in it for the money, so I don't know if that counts as "interested".
Will investment banks care if someone is just in it for the money?


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Original post by missfats
My brother recommend it to me, idk lool.
And funnily enough, me and my brother were discussing economics and the job prospects today.
He also is pursing a degree in economics soon.
Tbh I don't really want a degree in economics.
I thought it was a fantastic 4th subject. :tongue:


It most definitely is. I don't think there's much prospects with an A level in Economics. Although the BSc degree (given you go to a top institution and have all the relevant ECs/internships/soc exps) can open many doors especially in the financial industry.
Original post by Xenorebrem
I will do some research here and there, but tbh I am just in it for the money, so I don't know if that counts as "interested".
Will investment banks care if someone is just in it for the money?


You won't get passed the interviews if you haven't the slightest bit of interest in what you're doing. By interest you will undoubtedly sell your soul to these institutions. You will essentially sacrifice your social life for the duration of working in an IB.

The money is only there to retain the smartest kids and compensate them for giving the bank their time. A banks biggest assets is its employees.

Are you studying A levels? What university do you/plan to attend?
Original post by Abdul-Karim
It most definitely is. I don't think there's much prospects with an A level in Economics. Although the BSc degree (given you go to a top institution and have all the relevant ECs/internships/soc exps) can open many doors especially in the financial industry.


Abdul, you better help me.
I will be banning this soon and making a education only account.

I will bother YOU alot.
Be prepared.

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Original post by Xenorebrem
I will do some research here and there, but tbh I am just in it for the money, so I don't know if that counts as "interested".
Will investment banks care if someone is just in it for the money?


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How much do bankers usually earn?
Original post by missfats
Abdul, you better help me.
I will be banning this soon and making a education only account.

I will bother YOU alot.
Be prepared.


I'm just awaiting your questions :tongue:

Let's get this A this year :rolleyes:
Original post by Abdul-Karim
I'm just awaiting your questions :tongue:

Let's get this A this year :rolleyes:


YAAS! Do you have A grade essays between you can lend me on your lappy?
I would be so grateful, as I would use them as revision essays for certain topics.

100% inshallah. :tongue:

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Original post by Biryani007
How much do bankers usually earn?


Front Office:

Starting Salary (Analyst) - £45-50k (30%-100% bonus)
After 2-3 years : Associate - £60k ~ (30%-100% bonus)
After 2-5 years: Vice President - £90k ~ (50%-150% bonus)
After 4-8 years: Senior Vice President - £90k-120k (50%-150% bonus)
Subject to promotion: Managing Director - £150k-300k (100%-300% bonus)

Really depends on what bank you work and for what division, The bonuses is what bankers work for. Since after the financial crisis they went down dramatically, as you can see in the above averages.
(edited 9 years ago)
Original post by Abdul-Karim
You won't get passed the interviews if you haven't the slightest bit of interest in what you're doing. By interest you will undoubtedly sell your soul to these institutions. You will essentially sacrifice your social life for the duration of working in an IB.

The money is only there to retain the smartest kids and compensate them for giving the bank their time. A banks biggest assets is its employees.

Are you studying A levels? What university do you/plan to attend?


Jheez, you make it sound scary. I don't want to sell my soul lol. I don't mind the social life stuff, but I do want to be able to occasionally do something fun.
I'm planning on doing Maths, hopefully at Cambridge, if not Imperial.

BTW it is possible to fake enthusiasm at the interview right?
I might start investing in acting classes :biggrin:

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Original post by missfats
YAAS! Do you have A grade essays between you can lend me on your lappy?
I would be so grateful, as I would use them as revision essays for certain topics.

100% inshallah. :tongue:

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I only have the A2 essays I did in PDF format. They're essentially a similar layout but the questions/answers are more complex with A2 concepts. I can share some of them with you if you'd like. Send me your private email.
Original post by Abdul-Karim
Front Office:

Starting Salary (Analyst) - £45-50k (30%-100% bonus)
After 2-3 years : Associate - £60k ~ (30%-100% bonus)
After 2-5 years: Vice President - £90k ~ (50%-150% bonus)
After 4-8 years: Senior Vice President - £90k-120k (50%-150% bonus)
Subject to promotion: Managing Director - £150k-300k (100%-300% bonus)

Really depends on what bank you work and for what division, The bonuses is what bankers work for. Since after the financial crisis they went down dramatically, as you can see in the above averages.


Wow I can't even imagine earning that much.



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