Career İB ın Turkey
Hello all monkeys do you know someone worked at some part of theır carrer ın İstanbul IB scene any ınsıght wıll be helpfull
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I'm a Turk abroad, my 2 cents:
IB scene in Istanbul (Turkey) is extremely small:
Elite Boutiques:
-Pragma: sweaty culture but gets multiple cross-border deals done a year, have good relationships with local large PE firms (Actera, Turkven)
-Unlu & Co: also another good shop that gets large cross-border deals done, don't know much about culture
-3 Seas: don't know much or if they get any deals done
Bulge Brackets:
-Citi is the only BB with a dedicated team located in Istanbul (both Investment Banking and Corporate Banking presence)
Big 4:
-EY, Deloitte, PwC all get multiple deals done per year (don't know if KPMG is active)
Local Retail Banks:
-Garanti, IS Bankasi, etc. all have Capital Markets teams but haven't heard them closing any M&A deals at all, they are usually the bookrunners on IPOs (which don't happen that often)
Bottom line: IB in Turkey is not great, the hours will be brutal and the options are not that many. Also keep in mind that buy-side exits are also very limited given low turnover.
You will need to be extremely competitive in your local university to get your hands on of those few available spots.
Feel free to ask other questions and I can try to help.
first of all thank you for you response ım dyıng to get any answer from turkısh ıb scene thank you agaın .ı m 21 years old ım studyıng at law school tops ın ıstanbul ı have 3.0 gpa ı m workıng lıke crazy but cant raise that much my parents both run hotels so ı dont have any relatıve to ask anyways.my dad had a frıend who ıs the 2 man on the corporate bankıng GARANTI BBVA do you thınk the ıntershıp there helps or ı should focus more on school work and go t20 london mba lıke lse or unıversıty of london.my end goal ıs to be lıke you work abroad maybe or work ın ıstanbul as a m@a structurer .ı talked some lawyers they saıd we only do paper work for the deal we dont construcked ıt ı wanna be ın the game lıke go to dınner wıth clıents talk wıth them company valuatıon etc.. ıf you dont mınd also can ı talk wıth you 5 m because ıts really ımportant for me ı wanna do thıs for my carrer.overal what advıce can you gıve me for get a spot a BB ıb bank ıstanbul or anywhere doesnt matter
Let me breakdown your question to provide a comprehensive answer:
"Should I focus more on school work and go t20 london mba like lse or university of london"
^First of all, I don't even know if you would be a competitive applicant for a top MBA in UK given your 3.0 gpa in Law. Making that decision could be risky and especially given the cost of a UK MBA + living costs in London might make it an expensive experience if you're planning to return back to Turkey.
"ı talked some lawyers they saıd we only do paper work for the deal we dont construcked ıt ı wanna be ın the game lıke go to dınner wıth clıents talk wıth them company valuatıon etc."
^The lawyers provide legal advice on the deal structuring and deal documents to ensure no unwanted legal liabilities. The valuation part is done by the Investment Bankers.
"my dad had a frıend who ıs the 2 man on the corporate bankıng GARANTI BBVA do you thınk the ıntershıp there helps"
^Any experience is better than no experience. Though, I must warn you that Corporate Banking and Investment Banking are different fields. Corporate Banking looks at whether the Bank should lend multi-million dollars to the corporation. They are similar in some ways, both include financial statement analyses (though Corp. Banking to a lesser extent). A jump from CB to IB is certainly possibly once you prove yourself within the bank.
I wish I could provide you a more optimistic view, but unfortunately this is the reality of Turkish economy right now...
1.Thank you agaın do you mınd me gıvıng you shor lıst of bıo and ho was your path to landıng a job ın IB ?
2.Also what do you thınk ı should do now to take a shot ın thıs game ım ımprovıng my englısh rıght now and readıng books Mergers & acquisitions from A to Z can you gıve a lıst of books ?
3. Also do you have any relatıves that ı can talk to and have a coffe chat ın ıstanbul
I'm not the guy who has been helping you, but I just have some basic advice. Generally speaking, people like to be as anonymous as possible on this site. Unless this guy is 1 in a million, he's likely not going to refer you to his relatives or give you personal information about himself (he might do this one if you PM him, but ask first). As for point 2, yes, get good at English. You're English from this thread isn't the best, but that's okay. The fact that you know English on top of other languages and are working on bettering yourself is commendable and I'm proud of you for that (speaking as the son of immigrants who were harrassed for their troubles with learning English in the US but never let it get to them). As for M&A books, that's not really necessary. I'd focus on getting better at Excel and Slides.
Thank you man ım tryıng to better myself everyday. I can speak fluent ıtalıan and latıno ı only stuıed englısh at prımarly school afterthat no lessons lol ım tryıng to ımprove that to understand techıncal terms ..There ıs not much turkish on thıs sıte when ı found someone thats 1 million for me :) .I have no one to talk about thıs my parents dont understand they say ıf you cant touch somethıng you can't play wıth ıt even do my parents are upper middle class for turkısh standarts
Original commenter here.
1. As Prospect in IB-M&A mentioned, I will maintain my anonymity. I can just say that I interned in one of those banks a few years ago and now currently doing IB in the US.
2. You should be improving your English not to get a job in IB but to help you in your future life. If you're doing IB in Turkey, you probably won't need to be fluent but still. Regarding books, start off by reading "Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions" by Joshua Pearl and Joshua Rosenbaum -- I'm sure there is a free PDF on the Web. Also try to take an Intro to Finance, Corporate Finance type course in your University as an elective.
3. Unfortunately, I do not have any relatives in the Finance field. That being said, there are not that many people in the field to start with, so go on LinkedIn and start researching. Send them a cold email explaining who you are and asking for a virtual coffee chat. You should probably first read the book & do more research, then start reaching out to people. Or else you will probably look really dumb on the phone call and lose your chance with that firm.
What are the main differences in the İstanbul IB Scene are the salaries same as NY ?
I will read these books for sure at the weekend.
Do you thınk sending emails better then going the office buildings and try talk to people ?
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