The Reality Of Investment Banking - Harsh Parikh, Ex-Director-IB, DSP Merrill Lynch - Part 1
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- Опубликовано: 10 июл 2024
- In this video, Harsh Parikh, CA, Co-Founder at DRiefcase, Ex-Director - Investment Banking at Bank Of America Merrill Lynch, IIM Bangalore grad talks about his passion for investment banking and making big bucks. He also tells us about his experience studying at IIM Bangalore.
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(This is Part 1 of the video series featuring Harsh Parikh)
Check out Part 2 of Harsh Parikh's talk here - bit.ly/30TaaGv
and Part 3 of Harsh Parikh's talk here - bit.ly/2ZfNUGy
Summary of the video
Harsh takes us through his decade long career in investment banking and tells us about just how he got a kick from working in M&A. He shares how working in an investment bank is a high paying job, where you can earn up to a 100,000 USD (about 70- 80 Lakhs INR) in a year. He tells us how ‘Suits’ and all those other shows portraying investment bankers are essentially false. He shares the reality of investment banking, it being an intensive career, with long work hours that requires focus and commitment. He shares how a Mike Ross never really happens because a fresher has to put his head down and learn IB on the job.
He shares fond memories of studying at IIM Bangalore. He talks about how projects only started late nights right before the submission day. He talks about participating in extracurricular activities and how it was one of the best times of his life.
If you want to know the reality of investment banking, this video is a must-watch for you.
Key Takeaways
1. Your profile may change drastically every 3 years in a finance job.
2. There’s a lot of on your feet thinking that is required in finance.
3. An MBA is not a school; It is to prepare you for real life.
4. To watch how CEOs of large corporations think, that’s a kick out of investment banking.
5. You may get big bucks in investment banking; but also have to work long hours.
#BankOfAmerica #IIMBangalore #InvestmentBanking #Finance
#BAML
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It's good to see Robin from Mirzapur, chalo yeh bhi sahi hai
😂😂 Even I thought the same
Arey bc😂😂😂
Yeh bhi theek h!
😂😂😂😂 sahi hai
Exactly
When you are doing CA you are only doing CA 😂😂 Relatable enough.
This hit me hard too lol
@@Natalia-cm8ez yea bruh
Hahahaha....yes 😂
Quite relatable.....😔
An unique kind of content on RUclips. Mr. Harsh has a real aura of calmness around him. Maybe it is due to his so many years of grinding in IB.
Thanks, Saurav. Glad you liked the video. Have you seen the other two Parts of Harsh Parikh's talk? If not you can watch Part 2 here - bit.ly/30TaaGv and Part 3 here - bit.ly/2ZfNUGy
Hey Stinky, Exam is near so please concentrate on your syllabi.
I worked for 2.5 years at dalaal street.
Best way to invest is not by looking at fundamentals but to invest on the people who run that company
Sectors*
One of the best video of inside IIM
Non-engineer🔥
Investment Banking🔥
Thanks, Shivam. Our quest is to cover all kinds of content. You might also be interested to check out some Inspirational (against all odds) stories here - bit.ly/2R4L6sw
And you are wowed. Well that is what on sale is.
Your 39th like was from an engineer 😊
In her channel she does not talk abt the entire process. I don't think so investment bankers have to work more than 10 hours daily
Its nice to see a CA sitting there.
Hi Shubham, We'd invite one more speaker who's a CA, MBA and Poker Champion by profession in our Konversations cafe - Pre-MBA Social 2019. You can check out his video here - Why I Chose To Play Poker After CA & MBA - Deepak Bothra - Part 1 here - bit.ly/2XrLCqb
@@InsideIIMKonversations ...in the end luck beat everything......in capital market....nobody knows future.....
I can see humans not degrees
@@shubhamsharma2877 Right Bhai
@@washfi no that's a wrong perspective I suppose . U can't predict capital market but when you are from the field you are likely to read the market way better than a doctor maybe .
I thought this was Robin from Mirzapur 2 who is talking about Investment Banking
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8:04 talk to seniors, talk to people around you.
One of the best advice.
Very very useful, this session. Thank you @InsideIIM for bringing this to us.
Also, check:
As An Entrepreneur, You Cannot Have Ego - Harsh Parikh - Part 2 here - bit.ly/30TaaGv
How To Network Like An Investment Banker? Harsh Parikh - Part 3 here - bit.ly/2ZfNUGy
Read more stories about Investment Banking here - bit.ly/2YgUwmw
You can also read stories about IIM Bangalore here - bit.ly/2ZmHhlt
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Trading crypto currency is also a nice way to invest $1000 and change your life.
Really like that calm attitude of Harsh.. Very soft and sounds honest..
Thank you so much InsideIIM - Konversations for sharing this kind of session.
People like us who aimed for it but couldn't get into the IIM. they are learning so many things from this small talks only.
Keep sharing
Thank you once again
Thanks, Jay. So glad and happy to hear this :D Have you seen the second part of Harsh Parikh's video? If not you can watch Part 2 here - bit.ly/30TaaGv
Bro where are you
Margin Call was quite acurate in depicting Investment Banking in real life.
True
The old wall st
He is so articulate my god
I don't get the stigma around high salaries in Investment banking, they are not feasible for a stable life in financial centres. Forget living abroad and working for a big investment firm means sacrificing your 20s. You'll be living in the financial district where rents are 50% of your income. You will NEED to live in the centre, you need to be in the office by 6 every day, forget living anywhere else and making it on time every day. Sometimes you need to be there for clients at 3 AM and run to the office. It is a HECTIC life. I worked as an analyst for an investment bank for 5 years and then I joined a hedge fund. I had to sacrifice my best life because i was already in love with finance and numbers. If you are here just for the money, go somewhere else.
What are your qualifications and how to join a firm as an analyst? Also, if i may know, what was your job profile?
Siddharth Nandi my dream job IB
All this comes when you earn 4-5 huge bonuses and then you think is it really worth it .
So it would be better to create a limit how much money do you need to leave IB and then take time to pursue something other.
Many times overachievers who get into IVY league B schools directly after UG and then get High paying jobs at 20-21 years of age spend their 20s making crores.
The other half of the people who are medium performers and underachievers spend their 20s working low pay entry level or mid management jobs and figuring out their liking so that they can start a business or join a profession to earn good money in their 30-40s onwards.
Think which life would you want.
Hi sidharth, any scope as independent Investment banker in gurgaon. If possible then how to connect to concerned clients any platform seminar get together in around delhi gurgaon. Please guide am 57 yrs now retired. Tnx
Successful people somehow are very down to earth while less successful try to show off
Enlightening insights and perspectives by Mr. Harsh Parikh, A Grand Kudos to 'InsideIIM - Konversations'
team for making this happen. Seek and you shall get it.
Thanks, so happy to hear that :D Have you seen the other two parts of his video series? If not, you can watch Part 2 here - bit.ly/30TaaGv and Part 3 here - bit.ly/2ZfNUGy
This was an awesome interview
His voice is very sweet... Best communication skills...
People need to get past thinking about being employees. Of course, entrepreneurialism is not for everyone, but this default setting of being an employee in an ever changing digital world with artificial intelligence, is going to leave many people far behind. It's time to starting thinking differently.
Great insights.
Didn't know Robin (from Mirzapur Season 2) was an investment manker in real life. Kudos to the guy !
Hi sir I am satish Kumar. Presently i am pursuing cma(india) course can I have career in investment banking. Please suggest
The communicator on InsideIIM till now.
This video made me start to do things from scratch againin allyopics oflife 🙏🏻
This was the single best description of IB ever. I can say from personal experience that every word he said was closest to reality.
Did he get the salary right? Do they really get 68 lacs rupees in cash?
@@robertson2688 bro. The pay is credited to ur bank account, not in cash. Lmao 😂😂
@@robertson2688 Yes. The freshers from IIM A, B and C when hired by these wall street giants in client facing roles, are paid 35 LPA (fixed) + 35 (variable at year end - assuming 100% of fixed), in India. Thus, close to around $100K p.a. At the age of 30 years, you could be making >1.25 Cr p.a. (if you survive that long :p)
My authenticity: I work with J.P. Morgan Investment Banking; every word this guy said is true.
So glad to hear that :D You can check out some stories on Investment Banking here - bit.ly/2YgUwmw
@@smpbsn How many get that job in ABC in total?
Eagerly waiting for the next part of the interview
Hi, Shreyas the second Part of Harsh Parikh's video is published you can check out the video here - bit.ly/30TaaGv
On 5:21 when you are doing ca you are only doing ca... This hit me hard😂😂😂😂
Thanks for providing valuable insight on investment banking in the Indian scenario. Will appreciate it if you guys host someone from the equity research space! :)
Thanks, Anirudh. We'll definitely try to cover most of them :)
Till then, you can check out some stories on careers in finance here - bit.ly/2LH8KeN
wow audience is so serious.these iit n iim ppl
Hi Vicky, You'll also be interested to watch the other two parts of his video series. You can watch Part 2 here - bit.ly/30TaaGv and Part 3 here - bit.ly/2ZfNUGy
Awesome interaction
Was expecting him to say .. "Ye bhi theek hai"
Why?
Thank you so much for sharing this.
Hi Prakhar, happy to hear that you liked the video :D
Have you seen the other two parts of his video series? If not, you can check out part 2 here - bit.ly/30TaaGv and part 3 here - bit.ly/2ZfNUGy
You can also read Investment Banking related stories here - bit.ly/2YgUwmw
Nice session..
Thanks for sharing the reality...
Really enjoyed this, love his personality!
Can someone please suggest me good books/biographies on ETHICAL decision making in financial management and AUDACITY in taking action on financial matters?!
jesus shall help u
Can you help me with a brief about whether I can go for IBPS RRB GENERAL MANAGER OFFICER by having more than 2 years of exp in a Pvt Ltd bank as an assistant manager grade or not?
Sir I have a question
Approximately How many places for investment banker in india
Thank you...HP sir
Thank you so much , this made my day
Thanks, Dev so happy to hear this :D
We spoke to a wide variety of successful alumni in our annual Konversations Cafe - Pre-MBA Social. To find all the videos in this series click here: bit.ly/2F8zNuG
Great video! In India are the crazy hours associated with IB applicable only to the top tier banks like GS, Jp morgan,etc. or are the hours equally bad working as a financial analyst for a mid tier firm
He means the demand has gone down and supply has shrunk.
A good interview. However, the host is not a good interviewer and seems to have lack of energy and gives a "not-interested" vibe
Lauda hai anchor jyada ban rha hai hamare alumni ke aage
Your sincerely
IIM-B
2018-2020
Damn whatever he said is what I want to do in my life
This is my freaking dream
SAME.
Hello I am looking for a career in Investment banking in top companies. Could you please advise how to go about it?
Hi Kajori, please go through these: bit.ly/39VP3bs, bit.ly/2wc8Ggq and bit.ly/2USsu2P.
@@InsideIIMKonversations I have already completed my MBA and have few years experience. Therefore, a switch to IB is beneficial for me in the long run. Please advice how to get a job in there. Looking forward for a right guidance as your highly experienced in this field.
@@kajoriguha r u doing job right now anywhere?
the chance to learn from industrialists and leaders who run big firm in a mega economy is the only reason banking is so appealing to me
This guy looks like "Yeh bhi tikh h" guy from Mirzapur
hahah true
Great... If possible ask him about IB vs PE...
The host looks like a taller version of Rohit Sharma (Cricketer)
How to start up as investment banker what you need and the platform for pitching clients. Tnx
Common man he is already a ca and then mba from top b school.. What do you expect??
Great topiv selection and @insideiim u r doing a fantastic job....just if you could bring in more stories about following topics just like IB .....
1.Digital Marketing or Marketing as a whole
2.Operations or Supply Chain
3.Branding/Brand Management in marketing,etc which provides more insights on MBA as whole
Thanks...
Thanks, Shantanu glad to hear that!
You can check out stories on Digital Marketing here - bit.ly/2ZeIV8Y
Read more stories about MBA in Operations here - bit.ly/2R6vg0z
And some Brand Management stories here - bit.ly/2Xk4yXS
Super video.
The first question was answered with a slight bias towards IBs. I think people are just so much more interested in the magic of businesses that are solved using technology elements. I think that’s far more interesting for most people as opposed to typical consulting or investment banking jobs. The possibilities to be something new itself is huge now for other areas. Grown of technology and freedom of ease to start other things is the main reason.
Please bring someone who is working in any asset management company
He looks very young for 38 years old.
Please make a video about a BPHARM graduate who has got into the IIM. PLEASE
He looks really young...aisa lag raha he abhi bhi IIM student he 😅
😂😂😂😂😗😛
What is the salary of investment banker per annum ?
That’s a Chartered account
If i do my graduation With distance learning after 12th class
Will be i eligible to persue CFA?
Watching it 3rd time,great video💯
Glad you enjoyed
Very eloquently explained.. thank you sir!
Hey Shivani, did you watch Harsh's advice on networking as an Investment Banker? If not, please watch it here: bit.ly/2xYhF65
Myth that iit or iim can only join inv banking, iit or iim graduate not suit at all, after out of MBA school or iit, they don't know about what is buy back,bonus,right issue etc
Talking like it's too hard to understand lol
It's true but they learn very quickly and very quickly they become master at that work , that's why they are best
@@akashmandave8049 I didn't watch the interview is ib a good option for CA if we have good skills just asking
Great content harsh
Hi, Thanks for liking the video :D You'll also be interested to watch the other two parts of his video series. You can watch Part 2 here - bit.ly/30TaaGv and Part 3 here - bit.ly/2ZfNUGy
Thanks for this video. Can you please share experience of an IIM student who is working in Financial Engineering and Enterprise Risk management. I am waiting for that subject as well.
Hi, Aditya. We will definitely try to cover it :)
Till then, You can check out some finance stories here - bit.ly/2K1vwdX
No B schools atleast in India has competence to offer courses in Financial engineering.....Its more about hardcore maths ....which hedge funds in Europe and US implements....there are no such hedge funds in India , who all do speciaised quant strategies.....Check out medallion fund in US ....
Amazing and mind blowing and bagling !!!!
He missed UBS, CS!!!
1.25x best thank me later
Did that b4 reading this....
Does CA with CFA helps in getting into M&A advisory roles
yes
S !!
consults, currics, etc.
Can a non engineer bsc statistics graduate become investment banking
Hi does investment banking has scope ?
Hi, these should help: bit.ly/39VP3bs, bit.ly/2wc8Ggq and bit.ly/2USsu2P.
IB jobs r not getting better and compensation is not at power what it was in late 90s and early 2000s. The industry on a whole is at an 80% instructual decide. Now I'll come to 100ks. If you are living in Manhattan or London 100k is nothing. Now a better option is to work for a hedge fund. It's very competitive but it worth ur time. If u r spending crucial years waking up and going back home in the dark. U better make it worth it.
an anton kreil quote . I agree but you have to spend those years doing that, while you make contacts and work overtime in formulating in what it is you want to do . So when you get that income which will fund your own business venture/idea that you can now create and enjoy to work towards from the age of 30+
@@umairsiddick8239 yeah I myself worked at Goldman this summer as an intern..but my next target place to work is a hedge fund or an asset management firm.
Spot on... Investment banking after 2008 crisis lost all the charm. 100k is nothing as per Manhattan living standards.. A 1000 square feet condo's yearly rent in Manhattan will suck most of that earning away
@@mdaliahmed5911 how did you get that position?
12:36
I have noticed that finance buffs are often named Harshad and Parekh like the two infamous big cheeses of finance in india.harshad mehta and ketan parikh.😛😛.he has both in his name.
Just saying for fun,no offence.
Lol . nice observation
@@zenshreya 😊😉
@@abrarkhan9104 😉😉😉😗😜
Koi muze financial modelling course k bare me bata sakte hai? Kaha se krna chahiye?
Working for HUL at lower level teaches you 100times more than sitting in the head office or corporate office
Vishal Mahashabde exactly
Amazing inside scoop
Thanks, so glad to hear this! You might also want to check out - The Reality Of Life At An IIM - Saurabh Sengupta - Part 1 here - bit.ly/2WeO9PI
Mr Harsh, no offence, constantly reminded me of Bilbo Baggins (Hobbit - Martin Freeman)
Precious comment
What is the starting salary for iBanking in India in US dollars?
Average of $9k in a year
I and some of my friends (freshers; without MBA) we've been offered around $5600 a year.
@@scorpiopheonix $5600 per year?!?! Wow, so that is about $100 USD per week. I heard in India that people that work at Google are at about $30k USD per year. Is that true?
@@scorpiopheonix And this is to do: Corporate Finance, M&A, LBO and Bankruptcy?
@@DouglasLee9 i guess he is talking about the BPO part of ibanks
♥️
Ca vs investment banking - what is ur favourite?
Ib
Hey Work Experience Jaruri Hai Kya 🤔
Waiting for him to say "Yeh bhi theek hai." 😂
This video should be about reality of working as Indian at KREIDAT KARD CALL Center!
clever and clear ... sentence tell me
4:00
9:57 Suits example was Good
Mindblowing...sensibly outstanding
Hi Rahul, So happy to heart his :D You'll also be interested to watch the other two parts of his video series. If not, you can watch Part 2 here - bit.ly/30TaaGv and Part 3 of his talks here - bit.ly/2ZfNUGy
Whats the 'method to the madness' he talks about? About maintaining a solid gpa at bschool
I was completed MBA in finance is best to choose investment banking as carrer or financial analyst which is better?
ib
@@jatinmulgund9476 ok
👌👌
Zhou Qunfei is richest woman in china with 10 billion dollars worth. She was factory worker, then became entrepreneur, founder of lens technology. In job, u will never be able to place yourself in forbes list. Job can never beat business.
Pratik Joshi Totally Agree
Pratik Joshi that’s why I know Jamie dimon and you don’t !
For every Zhou Qunfei there are thousands of failed businesses , most startups (90%) fail in 3-5 years , business is not easy and everybody thinks they can become millionaires by sharing steve jobs quotes
@@bobascalera5094 love this lol. they sit home dreaming and forget some ppl connected with the right ppl or were at the right place at the right time.
@ pratik, very true about being self dependent. I need your personal advice how to start own ib in gurgaon. Myself 57vyrs ca plus 35 yrs exp of all Africa financial controller in manufacturing concern now I have come back for good. Need to know how to start from scratch infrastructure & to get clients. Hope you reply. Tnx
first of all, the interviewer's chair should be facing the candidate and not facing forward. Both face each other and talk. Ask him the questions by looking at him and not looking disinterested
take money, sell self.
Throughout the whole fucking life. This job is clearly unsatisfying
Do.you mind sharing the salary growth and at what salary did you leave the job?