the truth about investment banking

Announcements Posted on
How helpful is our apprenticeship zone? Have your say with our short survey 02-12-2016
    Offline

    1
    ReputationRep:
    (Original post by gr8wizard10)
    im at uni
    Are you a postgraduate? What course are you studying and at which uni?
    Offline

    3
    ReputationRep:
    (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
    Offline

    3
    ReputationRep:
    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...
    • Thread Starter
    Offline

    3
    ReputationRep:
    (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
    Offline

    3
    ReputationRep:
    (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?
    • Thread Starter
    Offline

    3
    ReputationRep:
    (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
    Offline

    3
    ReputationRep:
    (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?
    • Thread Starter
    Offline

    3
    ReputationRep:
    (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
    Offline

    3
    ReputationRep:
    (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
    Offline

    3
    ReputationRep:
    (Original post by icedark_knight)
    is there a third muslim on this thread? xD
    No I'm not Muslim
    Offline

    3
    ReputationRep:
    (Original post by Trapz99)
    No I'm not Muslim
    Never mind then lol... You knew about the term "ribaa" which made me curious...
    Offline

    2
    ReputationRep:
    Surely if you are not directly earning interest then it should be fine?
    Offline

    2
    ReputationRep:
    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)?
    • Thread Starter
    Offline

    3
    ReputationRep:
    (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
    Offline

    0
    ReputationRep:
    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
    Offline

    2
    ReputationRep:
    (Original post by AenigmaFx)
    Surely if you are not directly earning interest then it should be fine?
    Any association, not just direct.
    Offline

    1
    ReputationRep:
    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
    Offline

    1
    ReputationRep:
    (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
    Offline

    1
    ReputationRep:
    (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.
    Offline

    3
    ReputationRep:
    (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...
 
 
 
Write a reply… Reply
Submit reply

Register

Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?
  2. this can't be left blank
    this email is already registered. Forgotten your password?
  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. Oops, you need to agree to our Ts&Cs to register
  2. Slide to join now Processing…

Updated: October 23, 2016
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Today on TSR
Poll
Would you rather have...?
Useful resources

Articles:

Guide to investment bankingGuide to consultancy

Featured recruiter profiles:

Deutsche Bank logo

Deutsche Bank is recruiting

"Thrive in an international banking environment"

Quick link:

Unanswered investment banking and consultancy threads

Groups associated with this forum:

View associated groups
Study resources

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Quick reply
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.