Investment banking in the Middle East?

I'm on west coast US. Non target. Undergraduate. Really interested in the Middle East. Fluent in Arabic.

How hard would it be to break into ibanking in the Middle East given my location? Where would I begin? Anyone have any personal experience.

Would it be easier given the fact that I'm fluent.

 

Arabic would be a big plus while networking/recruiting. (Spent some years in Dubai) Can't really comment on the process though. Start scouting firms in DIFC

 

I hear that it is tough if you are not arabic. My friend's father is a CIO at one of the major gulf banks, he moved there from a european BB, but even at that he is a dime a dozen. To me it seems that foreigners are more common in middle eastern top management, rather than at the analyst/ associate level. Salary wise I think it is about on par with BB comp in the US after taxes. Only difference is that in the Middle east there is no income tax.

 

Please tell me that's not a real picture of you. No thanks.

----------------------------------------------------------------- Hug It Out
 

go for it, but you'll need to be fitted for a burqa. the faster those places go back to being desert wasteland, the better.

 
Best Response

I know Im ressurecting a dead thread (spare me the hate, please), but the comp here is generally better if you compare it to how much you're making after-taxes stateside.

Additionally, you won't pay transportation costs going to and from work (IBs here usually have office boys and drivers to chaffeur employees home), lunch is expensed at the office, housing is usually either provided by the bank or subsidised so you're paying very little for good apartments, and the hours are way better (8 to 3ish, but you only occasionally stay till 6). I know an RM Manager at a middle market regional IB whose making 6600 USD per month...if you're experienced (by that I mean GS, MS, JP, etc.), I wouldnt be surprised if you hit 8-9.5k as a monthly base.

Cons (in your case): environment (see:abaya) note: you dont have to be fitted for an abaya (usually $30-$50) unless you want to go custom...then the sky is the limit with those.

Overall, I would say if you dont have a problem with the abaya, do it. The abaya covers your body. I've seen a lot of American and British women in Jeddah who wear the abaya and not the hijab ("the scarf"). Thats ok. And no, you wont be hunted down by the mutawas. You dont see them anymore, thank god!

Riyadh is a tad bit more wacky...lots of fkd up saudis there..kinda like the rednecks of the kingdom...I really have no clue why they made it the capital!

I hope you found this information useful

Greed is Good.
 

"the faster those places go back to being desert wasteland, the better." Hate won't get you anywhere. Jealous much?

Greed is Good.
 

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