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Why Do People Leave Investment Banks? (Reasons EXPLAINED)
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- čas přidán 12. 08. 2024
- In this video I talk about some of the most common reasons why employees across seniority levels end up quitting their jobs at investment banks. Some reasons are common across industries and others are less so. Watch the video and comment your thoughts on the subject. As always, thanks for taking the time to watch this video, please give this video a thumbs up and subscribe if you haven’t done so already. Thanks and enjoy!
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TIMESTAMPS:
01:20 Priorities change
03:00 Organisational culture
04:10 Opportunities elsewhere
04:27 The stock trap
05:48 Private Equity & Hedge Funds
06:33 New challenges, tech companies and startups
07:45 Entrepreneurship
08:51 Early retirement
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Recommended Reading:
Financial markets and the roles within easily explained: amzn.to/2WsRNKH
When Genius Failed: amzn.to/2Wt0nJI
The Intelligent Investor: amzn.to/2XBDbFG
The Big Short: amzn.to/2K0sEAB
Barbarians at the Gate: amzn.to/2KyVnfo
The Wolf of Wall Street: amzn.to/2K1RXSC
Money and Power: How Goldman Sachs Came to Rule the World: amzn.to/2WyKykN
Video suggestions are most welcome - feel free to leave them in the comments below!
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Intro music: goo.gl/qN1M5t
Why do people leave investment banks?
#BankingAndFinance #Students #Careers
Thank you for the tips Afzal, they are very encouraging
Thanks for keeping it real Afzal. Appreciate the honesty, especially on a topic like this.
Thanks for watching! 👊🏽
Nice insight bro! Thank you!
Great video Afzal, thank you for all the information you provide to us!
Wow! Exactly the reason I left Banking! Keep up the good work, loving the content.
Great video, very well explained. Thank you.
love your video. very informative. keep it real my man.😎
"Those are the people who make it rain" I wasn't expecting that 😂
Love your work as always, insightful and informative!
Thanks!
Great info, really enjoy watching your videos. Keep the good work :)
Thanks!
loved this video, thanks a lot!!!
there are so many things to take care about thanks for everything
I will watch your other videos in due course. Just to say, I liked the "rain-maker" comment, although you phrased it slightly differently!
Great videos Afzal, really enjoy your genuine, thoughtful, informative and honest views - perhaps will be great if you can share a little more of your own personal experience of why you left GS.
Hey, thanks. Much appreciated. Take a look here: www.linkedin.com/posts/afzalhussein_my-last-day-at-goldman-sachs-how-time-flies-activity-6391541076662059008-6Ayh
Will do a video in due course 👍🏽
Love your content! Thanks for sharing. I was wondering if you need to speak the local language in the country where you apply for a summer analyst internship or new analyst program because it was nowhere specified. Do you know how it works?
Videos Suggestion:
Risk Analyst/XVA Analyst in an investment Bank.
Thankyou for this video
Should I go into the Finance Industry? Could you make a video on this topic? Thanks Azfal and keep up the great work
Could you please share some tips and advise for experience candidates from the back office want to break into the front office ?
I would say most just move to a different investment bank. Alot of us really love the industry, but the culture in certain firms gets in the way
Could you make a vid on the situation of the virus affect and weather the whole industry of banking is dying now?
How much inside trading happens in the investment banking sector 🤔
lolololol, you are so great helper . Thank you
Hey Afzal, can you make a video on:
1. Corporate Finance; the difference between CF in an investment bank vs big 4 accounting firms.
2. Corporate Banking; what do corporate banking analyst and relationship managers do.
Yeah, I would love to watch a video on this topic.
Backstabbing definitely at JpM 😂 I can assure this as an ex employee lol
Storytime
storytime
And what are the best places in london for hedge funds
Salam Afzal, do you in process for CFA certification ? What certification do you want to fulfill ?
Often times is the word of the day
The intro is so sick!
Lol thanks 👊🏽
Yeah you are right. I am leaving Investment banking soon.
Did you ever end up leaving?
Can we connect on LinkedIn?
How do you manage your job and CZcams ? You must be really busy
Very good video 👌😀
Thanks!
Aye 1000th viewer !
Great video as always. I m a student and I’ll get my bachelors degree in 4 years so I’m wondering if I should start working in the investment bank after I graduate or I should continue and get the master degree ? But I will take too much time
Rodrigue ADOHOE work in investment bank without thinking twice if you have the opportunity actual work is always better then education
Muhammad Rehann thanks men GOD bless you 🙏🏾
Question before watching, does this also apply to asset management?
Yes, banking and finance broadly speaking I.e. all careers at investment banks and financial institutions. Enjoy!
I could either go for audit in big 4 or asset management. I am really confused which is better suited for me.
RandomGamer depends on what u like, if I were u I would go to asset management be cuz I am not an accounting person. Know what u like and if u don’t then that means u don’t know how the industry enough, do research in that case.
@@MrXin-zc9kg well, I have done lots of research on both and I personally like asset management too but there are other things to consider too like I live in a developing country and there are no Goldman Sachs, Barclays, JPMORGAN etc. So their is a little scope of asset management while on the other side big 4 and many other firms are here and so is the scope of auditors. I don't want a job where all I am doing is number crunching and I would love to have job for which I have to travel a lot and the work is interesting (not boring and repetitive) .
Thanks for your reply
Audit is a living hell. Especially in busy period, which is a different dimension of hell.
@@Soligen24k yeah, I heard about that. But how is overall life-work balance as an auditor? and for how long busy period last?
@@randomgamer9553
Audit with Big 4 is going to be pretty much shitty boxticking with no work-life balance. The upside is the amount of experience you get working with their large client base. After 2-3 years you then exit into one of those client companies as FP&A, financial accountant or management accountant.
Can you advise after brexit effect is this difficult to get chance in investment banking in UK ? As an Indian how can I apply for job in UK ?
Hey afzal been watching ur vids for a while now. My a levels are exonomics biology and geography. As you can see I don’t have maths a level like you do. Can I still go into the world of investment banking and consulting? I want to do a business management degree. Is this a respected degree in those careers^?
Yes, of course you can. I've done a video on exactly this topic. Feel free to check it out :)
Afzal Hussein thanks a lot for replying. I’m looking to study economics and finance at Manchester. Is this good? And yeh I’ll check it out
Dieidiosks Ueueuduwu my VP at JPM was a history grad. You’re good
Kay Shiva what uni?
Dieidiosks Ueueuduwu kcl. You’d probs need to do an mba or something like he did later on or a more specialised and subject specific masters.
Hi , i love your videos and i find them really helpful ! I am 15 years old and i am taking my GCSE's this year , a lot of the time i focus on my job and what i want to be , eg; Apprenticeships , internships , certain industrys etc , is it ok to do this , or should i only concentrate on my upcoming exams.
Hey, thanks! Concentrate on both! :)
Ok thank you , i will do !
Hi Afzal, Can an Investment banker save money to start his own private equity fund? And if so...How?
Its easy:
Step 1: save money
Step 2: start private equity fund
I'm Doing History,Geography and Economics A level should i change one for maths?
Im doing Economics Business and Government and politics as well as an As maths on the side which is basically the first year of A level maths, check with your school if you can sit an As exam.
If you want to do econ at a top uni, yes.
Good video
Thanks!
regarding the first reason, my dad has been a trader since way before I was born up to this date. Ofc he wakes um early and comes home at around 6, however weekends and holidays have been enough for him to have an incredible presence in my life, and the nanny stff doesnt real resignate with me because the amount he earns has been enough to keep my mum mostly at home having sometimes a part time job
he trade stocks?
@@zon1642 ye
Let me know if he is teaching lol
@@zon1642 unfortunately he doesn’t really teach ahah
What do you do you do at goldman ??
what?
Bro I am in third year of hotel management so positions can I get in investment banks
Shubham Chaudhari I also want to know
It's a sad career and people who are in it think they're hot shiet. It's pretentious, especially people who's in ibd, we don't know nothing but we act like we know every single details of the business. The only thing we know is making pretty power point
Because I went to IT or BI side and got a higher salary , more interesting work and less hours ....
What is BI ? What was the transition like? Please elaborate. I will try to contact you if you can give me your socials. I am a high school student and I need your help
BI means business intelligence ,,, it’s in the data science field ...look into it if your trying to make bank and have a life to enjoy it ....transition was sort of easy just needed to learn some basic coding languages like python and sql and software like alteryx and now I’m here at 25
@@blackice214 how much do you make
the money is not even that great anymore..
It sucks. I did 2 years at JP Morgan and when you factor in the hours worked to pay, it works out very little. I was making more trading crypto when I was doing my Masters. I have switched to consulting
why these dudes be an investment banking analyst for 5-10 years
Im getting on an exit opportunity at 2-4 years
I imagine they begin with a 2-4 year exit strategy but end up finding more fulfillment than they initially thought they would. I had a friend who went into corporate law with a 3 year exit strategy and ended up staying for 6 years after finding some of its benefits more enticing than he initially envisioned he would.
nobody is an analyst for 5-10 years. Everyone gets promoted after 2-3 years. After the 5-10 years you stated they would mostly be at VP or even director level.
@@solidgod1093 well it depends, in some departments and lob’s an analyst who’s possibly an ic would be at the same job code as an avp/vp. Example an index and alpha strategies group quant analyst at one of the bb ibd’s has the same code as a vp of another lob.
0:07
Is it common for graduates to start from the back office then head towards the front office?
Good question. A lot of opportunities crop up and it's not uncommon for individuals to move from divisions such as Operations and Risk into front office roles in Asset Management and Sales & Trading after 2 or 3 years. Though it isn't impossible it's less common to move from back office to the Investment Banking Division. Hope that helps! :)
Lots of love from india 💐
Lots of love from London 😊
Because Mike Tyson left school at 14 and earned over $350 million
you are not mike tyson*
Is it too late to get to be on your list of university tours
Can you speak on Instagram DM?
1st
Most importantly its riba
Wish I had these problems. Better than not being able to spend time with family because you are trying to get enough money to pay rent and send kids to school.
It's never too late. You can always return to college or even trade school. There's millions of ways to make money nowadays. I believe in you 💪
@@Semislavia Lol, went to the best one there is. But I appreciate the sentiment. :)
@@jhanikhilesh college doesn't = success lmao
Can you make it rain on me ? 💸
Excessive suscribe buttons
Yes its called corporate slavery. You are a cooperate slave to the billionaire that owns the company. You still have to work for your money once you give up your job there is no more money left. They give you all these incentives to keep you as their slave
They leave because they realize that, despite the long hours and stress of the investment bank, they don't know enough to start or build their own business if they had to.