I've seen a few threads that ask about open applications and what certain groups are like but I was wondering if someone in Dubai or that has previous experience working IB in Dubai could speak to their experience and what their life was like.Some leading questions that I hope will drive your response: - Was the group you were in sweaty? - Were you an American (or different nationality) and found you felt out of place? - If you were Western, what were some things you were used to doing that you were not able to or was discouraged to, if at all? - Is Dubai all that the hype makes it out to be or is it hollow? - How is the food?
Trending Content - Investment Banking Forum
| +379 | Evercore Intern Seizure | 56 | 1h |
| +74 | JPM M&A is Gone??? Purely Coverage Banking??? | 33 | 1h |
| +62 | Is DCM actually underrated ? | 26 | 23m |
| +53 | How do I understand vs. just memorizing? | 9 | 2h |
| +48 | Losing my personality in Banking | 9 | 1d |
| +47 | Are all Tech / TMT groups sweaty? | 38 | 1d |
| +42 | Associate & Above IB exits | 16 | 4d |
| +33 | Incoming IB Analyst: Best Ways to Prepare? | 11 | 8h |
| +27 | Which groups are ideal for laterals? | 12 | 1d |
| +24 | Thoughts on PEI Global Partners? | 4 | 2d |
Career Resources
Overall, I believe Dubai is great if you are a non American VP/ MD looking for some tax free income before you leave the industry. At the lower levels, the culture and learning experience is not good enough to justify making £30-40k more per year. If you want to exit after a few years, you need to be where the learning is optimal and opportunities exist (London). If you want to stay, you are better off going to where the hours and culture are more manageable (London / continental Europe).
I currently work there, so might be a bit biased but the culture (excl. hours which are sweaty) is very good, people are very supportive and never felt or heard of anyone getting screamed at or belittled on for poor work quality.
Also I would disagree on the poor learning experience. Usually teams are generalist and alot of deals are fully lead by the regional teams, so you get to experience different products and sectors. I would also add that the responsibility you get at a junior level surpasses any experience you would have in London. As an analyst you are often expected to lead client calls, responsible for the financial model etc.
I would say the disadvantage in the region is clients are usually less sophisticated, very demanding and you don’t become an expert at an individual sector or product
In regards to my bank, it may have been my experience and that of a few friends. Used to work for an EB in case anyone is interested
Whilst I agree the experience is generalist, it was generalist between a few verticals: leisure & tourism, RE, and O&G mainly. Compare that to the regional team in Frankfurt, which will touch on many more industries due to the more diversified economy.
With regards to the work, my bank had all models except O&G done in London. Could be different on other banks tho.
Fully agree on the demand side. Many wealthy individuals who think that paying you = owning you.
Do you have any tips on how best to network to get interviews there?
Do you have any tips on how best to network to land interviews there?
It’s pretty terrible and spending more than 3-4 years there is a death knell for your career outside Asia.
if you’re from the region (Africa, South Asia, Far East) then it’s a good spot due to proximity to home countries but I wouldn’t do otherwise.
as a city it’s boring af.
i wouldn’t go there unless your option in US, Europe, UK is to work some random backend job.
Also everyone I met who works in Dubai is always trying to convince me why Dubai is as good as of an option as UK or US (places I’ve worked)
fact you need to do that says everything lmao.
one friend was also saying it’s tied with London and NYC as best city lmao
A bit surprised by the comments here.
I work in Dubai and I can tell you it’s absolutely great specially given what’s happening in other parts of the world.
Most banks are hiring here and it’s a busy period. Is there a lot of work? Yes definitely. Is it insanely brutal? No (most of the times at least).
You don’t pay tax here and that should be the most important point. You’re getting paid a NY salary with no tax.
Dubai is also the safest city in the world. So yes, the lifestyle is a bit more expensive than other places but again you’re not paying tax (rent is now cheaper than places like New York btw)
Are banks actively hiring in dubai? If you don't mind me asking how big are analyst classes?
A lot of banks are hiring (MS, Rothschild, Houlihan to name a few).
Moelis has the biggest class with 17 analysts, Rothschild 10+ as well. MS / GS / JP much smaller (probably between 5-7 analysts)
Americans get taxed globally.
Think first 108k is tax exempt or something tho.
your username is ironic but funny for the thread considering Dubai IB is wannabe IB.
also your entire reasons for dubai revolve around taxes (not applicable to most people on this forum) and safety.. says everything
not pro Dubai but if he’s listing positives over other cities what else would he say lmao? Those are some pretty decent positives.
Do you think ESSEC/ESCP would be target schools in ME?
This is clearly not the case for some of you but for any Americans reading this, please note the tax arbitrage doesn’t work for us.
Pretty sure the ex-CFO for UFC (who helped them in their sale to Endeavor) in a podcast mentioned that going over to Dubai for IB / stint in Mubadala may have saved his finance career. He pivoted sometime before the GFC happened (I think he's Middle Eastern and wanted to have the opportunity to work there) and Dubai was mostly unaffected while he saw people / his Tuck classmates struggle in finance within the States.
He did eventually come back and moved to Vegas to work with the Fertitta brothers but it sounded like if you're Middle Eastern and can fit in there, it's not a bad place to be for a few years.
Yeah was looking at his linkedin and was curious about that. He's Iranian pretty sure. He's Jake Paul's manager now lol
Also a EIR I believe for Dynasty Equity - I think it's a sports PE fund being run by co-founder of Providence Equity Partners and Don Cromwell, the ex-PJT banker who was on a ton of sports deals through his career.
Surprisingly one of my professors in school knows Nakisa (at least a connection of his, used to teach at Tuck). Very interesting career path.
From what I have heard, some teams now include former russian teams eg rothschild.
But yh also interested to know what hours are like - and if most advisory work is sell or buy side focused - currently in a lateral process for an EB and getting slightly shook if its more buyside focused
Hours are super sweaty (90/100 hour weeks are the norm, especially if staffed on Saudi projects which is becoming more commons)
In terms of deals, I would say there is a good split, but it leans more on the buyside due to the SWFs. Sector wise, its Energy, FIG, Tourism, and RE
.
Preparing to apply for Dubai Summer IBD.
Does anyone know any events/info sessions for network?
Few information disclosed now on website..
Is it friendly to non-arabic speakers or non-arabic deal background candidates?
Does anyone have any colour on bonuses across all levels?
Grew up in Dubai before moving to London so I can speak on this
VP in Dubai will clear as much as MD in London
City is much safer than London/NYC with decent private schools that are cheaper
Imo - decent place to move if you want to start a family at VP level and still save money / not worry about safety
Do you think ESSEC/ESCP are target schools in Dubai?
Absolutely. ESSEC/ESCP/EDHEC are top targets for Dubai, but then again you could recruit for London/Paris/Continental Europe from these universities. However, ESSEC/ESCP grads are well represented in Dubai IB scene
Could you please provide more colour on this? Is it simply because of the lack of taxes or is comp higher?
Comp is a bit higher than UK due to weakening GBP. Mostly due to 0 taxes.
Do BBs in Dubai also have capital markets teams or is it just straight IB?
Not a BB (Maybe in the Middle East it is?) but HSBC has DCM/ECM teams there offering vanilla corp orig as well as sharia compliant / sukuk financing
I’d rather live in Little Rock
Eaque aliquid et omnis. Repudiandae consequuntur enim ipsum molestias doloribus. Cupiditate nulla quam odit ea unde aut. Eos qui earum alias magni voluptatibus repudiandae qui. Quam est est fuga qui tenetur voluptatem voluptates. Tempora quisquam minus mollitia reiciendis. Dignissimos quidem ab ut repellat dignissimos sed minima.
Architecto facere enim nostrum minima. In sit ut sunt odit et. Molestiae id voluptatem ratione accusantium et. Dicta eaque corrupti nisi vero vel debitis illum voluptatem.
Hic et dolorum enim nostrum vitae. Qui eveniet nostrum occaecati molestiae molestiae ut natus et. Consequatur deleniti aspernatur corporis et ipsum quo hic totam. Consequatur alias sit placeat. Et aut esse placeat dolorum aut placeat. Impedit voluptate quae tempore blanditiis.
Aut ut distinctio neque optio ut. Eum et ratione mollitia hic eligendi aut libero. Atque odio voluptas est occaecati ut. Labore rem dolorum est laborum est. Explicabo aut dicta dolor ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Officiis consequatur velit quae non voluptates laudantium rerum. Vero at minus pariatur sunt. Laboriosam qui aut voluptas quam perspiciatis. Molestiae eos sit consequatur in velit ex.
Tempora eveniet recusandae sit. Officiis dolores ut quo modi. Eum incidunt culpa numquam atque dolorum voluptate. Asperiores voluptatum eius nobis eum exercitationem aut est. Non quaerat hic at delectus. At fuga aut et omnis qui omnis omnis.
Quasi qui autem laboriosam qui. Doloremque rerum praesentium in quas sit temporibus.