Just a note, at 01:04 I made the mistake of saying that a desk would sell securities at a slightly lower price than they would buy them for. Wrong! Obviously, you would sell securities at a slightly higher price than you would buy them for. Sorry if this has caused any confusion. Thanks for watching!
Let us know if you're enjoying Industry as much as we are in the comments below! Don't forget to like the video if you found it interesting and subscribe for more expert reviews. Thanks for watching!
I mean, the irony is that the programme (if you watch all of the episodes) is pointing out the fact that a LOT of people who work at Investment banks (of which I used to be one as well) are completely terrible & damaged/sociopathic people who are looking for happiness in all the wrong places in life, and ultimately they only stay because they are addicted to the thrill of it, but the financial commentary on RUclips glosses over that uncomfortable truth and focuses on the jargon! I certainly don't think it paints the industry in a good light - the whole show makes the industry look terrible. Great channel, loved the video, very interesting!
I just started watching this guy's reaction to this series. I am finding it interesting to see it through his lens. He is breaking down every financial jargon and explaining some real key concepts of the financial world. Interesting way to learn as a student of finance!
Interesting you mentioned language skills. I always assumed proficiency in a language wasn't worth much on the job market. From experience - I can read about 10 languages and speak 4.
I once did CFA introductory course once over a few months and you explained several fascinating aspects of this industry better for me than any of the course materials I was provided. All of this is fascinating and I work in somewhat IB-adjacent field (fund admin).
Brilliant video. Extremely well explained themes, especially for those who havent a clue what the interior of a IBank is like. What are the key skills for the IBD team. Do they have to be Excel and Powerpoint wizards (VBA etc). Do most Banks still use excel or have some teams moved onto newer coding platforms that allow them to automate the work?
Hi Hamza, Thanks for your comment. For IBD, being smart is important (in fact for all roles), but in particular numeracy (it's a really hard job to do if you don't have a good foundation of math), and strong attention to detail. You should be able to write effectively and to the point. Excel is an absolute must, but I wouldn't worry about VBA at the start, it's not widely used as clients like to understand the workings of a model and most of them don't want to trawl through VBA code. Definitely have a strong handle on PowerPoint and Excel. Coding is much more relevant in the asset management / investment management industry than in IBD, particularly for algorithmic hedge funds. Over the years, many people have tried to convert IBD bankers to use other platforms than Excel, but nothing has stuck. I think some of the data visualisation tools such as Tableau and Power BI might start to become more important. - Alastair
@@financialedgetraining Thanks for the responce. Very interesting. I hope to see more review videos. Nice to have someone from the industry dissect THE INDUSTRY
Great video! I can't believe I actually considered going into IB after business school. Life's too short to live like that, no matter how much $ you make. But I guess to each their own as I'm sure a lot of IB's couldn't imagine doing anything else.
I mean the (extreme) grind lasts for only 2 years. It gets relatively much more relaxed after that. But yeah those are 2 prime years and I can understand someone wanting to do other things since that is time you will never get back.
You mentioned a limited list of opportunities from the sales roles. How is your view on the opportunity available for analysts working in the PWM space.
Hi Arthur, The issue with sales is that the skills aren't directly transferable to other industries (although you will develop sales skills generically). For Private Wealth Management, you can join private banks, family offices, or go into the asset management space - you will be relatively restricted to finance though. Whereas with IBD you can quite easily go into any industry. - Alastair
@Harry Donovan Hi Harry, great question. IBD exit opportunities range from private equity, venture capital, corporate finance, and strategy consulting to hedge funds. If your goal is to eventually become a trader at a hedge fund, then a role in sales & trading at an investment bank is also a great starting point. This is especially true if there is an overlap in the product being traded across both roles, such as equities or fixed income. An important distinction between proprietary trading and hedge funds is that proprietary trading firms use their firm's own money to invest in financial markets, while hedge funds invest using their clients' money. Some final points worth mentioning are that some hedge funds are now recruiting graduates directly and previous banking experience is not always a pre-requisite. Good luck with your applications!
4:50 do you have the flow and do you have the research ideas. 16:50 reduction in force. or riff. 17:15 euphemisms like riff. 12:20 in IB, esp in EU: people have different nationalities and language skills. because BREXIT.
Just a note, at 01:04 I made the mistake of saying that a desk would sell securities at a slightly lower price than they would buy them for. Wrong! Obviously, you would sell securities at a slightly higher price than you would buy them for. Sorry if this has caused any confusion. Thanks for watching!
Let us know if you're enjoying Industry as much as we are in the comments below! Don't forget to like the video if you found it interesting and subscribe for more expert reviews. Thanks for watching!
I mean, the irony is that the programme (if you watch all of the episodes) is pointing out the fact that a LOT of people who work at Investment banks (of which I used to be one as well) are completely terrible & damaged/sociopathic people who are looking for happiness in all the wrong places in life, and ultimately they only stay because they are addicted to the thrill of it, but the financial commentary on RUclips glosses over that uncomfortable truth and focuses on the jargon! I certainly don't think it paints the industry in a good light - the whole show makes the industry look terrible. Great channel, loved the video, very interesting!
It’s a highly dramatised show. There’s very little that is realistic about it.
I just started watching this guy's reaction to this series. I am finding it interesting to see it through his lens. He is breaking down every financial jargon and explaining some real key concepts of the financial world. Interesting way to learn as a student of finance!
Really enjoyed the interview with Emily Masse. I’m looking forward to more of those internship interviews in the future!
Thank you! Keep an eye out!
I love love it there's a season 2 lining up please do review that toooo. Absolutely love your insights.
Great to hear you are enjoying, lots more coming your way!
I know it's been 2 years but I would love love love some of your insights into some of the business dealings highlighted in Season 2.
Keep them coming!
Please do more of these!
Interesting you mentioned language skills. I always assumed proficiency in a language wasn't worth much on the job market. From experience - I can read about 10 languages and speak 4.
That's very impressive!
I once did CFA introductory course once over a few months and you explained several fascinating aspects of this industry better for me than any of the course materials I was provided. All of this is fascinating and I work in somewhat IB-adjacent field (fund admin).
Should’ve gone with mark meldrum for CFA
Both episodes are very informative. Well done.
Thanks! Glad you enjoyed it.
Awesome video
Brilliant video. Extremely well explained themes, especially for those who havent a clue what the interior of a IBank is like. What are the key skills for the IBD team. Do they have to be Excel and Powerpoint wizards (VBA etc). Do most Banks still use excel or have some teams moved onto newer coding platforms that allow them to automate the work?
Hi Hamza,
Thanks for your comment. For IBD, being smart is important (in fact for all roles), but in particular numeracy (it's a really hard job to do if you don't have a good foundation of math), and strong attention to detail. You should be able to write effectively and to the point. Excel is an absolute must, but I wouldn't worry about VBA at the start, it's not widely used as clients like to understand the workings of a model and most of them don't want to trawl through VBA code. Definitely have a strong handle on PowerPoint and Excel. Coding is much more relevant in the asset management / investment management industry than in IBD, particularly for algorithmic hedge funds. Over the years, many people have tried to convert IBD bankers to use other platforms than Excel, but nothing has stuck. I think some of the data visualisation tools such as Tableau and Power BI might start to become more important.
- Alastair
@@financialedgetraining Thanks for the responce. Very interesting. I hope to see more review videos. Nice to have someone from the industry dissect THE INDUSTRY
Really interesting videos keep up the amazing videos!!
Thank you!
Great video! I can't believe I actually considered going into IB after business school. Life's too short to live like that, no matter how much $ you make. But I guess to each their own as I'm sure a lot of IB's couldn't imagine doing anything else.
I mean the (extreme) grind lasts for only 2 years. It gets relatively much more relaxed after that. But yeah those are 2 prime years and I can understand someone wanting to do other things since that is time you will never get back.
I really love it!
Thank you! Make sure to subscribe to stay tuned for more :)
There is one more serie, German Bad Banks. Could you please review?
Cable is traditionally GBP/USD and quoted in how many dollars will buy or sell 1 pound
Will we ever get Alastair´s rection to season 2?
great video. do you think someone from non-finance background with CFA lvl 1 will help break into the industry?
You mentioned a limited list of opportunities from the sales roles. How is your view on the opportunity available for analysts working in the PWM space.
Hi Arthur,
The issue with sales is that the skills aren't directly transferable to other industries (although you will develop sales skills generically). For Private Wealth Management, you can join private banks, family offices, or go into the asset management space - you will be relatively restricted to finance though. Whereas with IBD you can quite easily go into any industry.
- Alastair
@Harry Donovan Hi Harry, great question. IBD exit opportunities range from private equity, venture capital, corporate finance, and strategy consulting to hedge funds. If your goal is to eventually become a trader at a hedge fund, then a role in sales & trading at an investment bank is also a great starting point. This is especially true if there is an overlap in the product being traded across both roles, such as equities or fixed income. An important distinction between proprietary trading and hedge funds is that proprietary trading firms use their firm's own money to invest in financial markets, while hedge funds invest using their clients' money. Some final points worth mentioning are that some hedge funds are now recruiting graduates directly and previous banking experience is not always a pre-requisite. Good luck with your applications!
4:50 do you have the flow and do you have the research ideas.
16:50 reduction in force. or riff.
17:15 euphemisms like riff.
12:20 in IB, esp in EU: people have different nationalities and language skills. because BREXIT.