Lateraling from Dubai back to US in 2024
The MENA region, specifically Dubai/Abu Dhabi/Riyadh, is hot for investment banking. There are a couple of threads here discussing working in IB in Dubai and other cities. I am interested in working in Dubai or Abu Dhabi for a few years out of college in IB, but I do not want to work there long term.
In 2024, how difficult would it be as an American to get back to NYC after working at an Investment Bank in Dubai for a couple of years? Would going to business school in the US be a good pivot away from Dubai, back into US IB? Would this be different if it were a regional boutique as opposed to a western firm?
I have heard that NYC banks become less interested as you become specialists to the region-specific deal flow and the skills you gain may not be applicable to NYC. A friend of mine works at one of the big 3 consulting firms in Dubai and is unable to internally transfer back to the US. I am really enthusiastic about the region as I am an Arabic speaker, but I do not want to get stuck there.
Based on the most helpful WSO content and threads discussing transitions from IB roles in Dubai to NYC, here are some insights that might help you navigate your career path:
Transitioning from Dubai to NYC: Transitioning from an investment banking position in Dubai to NYC can be challenging but not impossible. The key factors that can influence this transition include the prestige of the firm you're working for in Dubai, the network you build, and the deals you work on. Working for a well-known, global firm with offices in NYC can make internal transfers easier compared to regional boutiques.
Business School as a Pivot: Pursuing an MBA in the US is a commonly recommended strategy for those looking to pivot geographically within the investment banking industry. A top-tier US business school can provide not only the necessary education but also networking opportunities and on-campus recruiting that can facilitate a move back to the US. This path can be particularly effective if you're coming from a less globally recognized firm.
Specialization Concerns: The concern about becoming too specialized in the MENA region's deal flow and market is valid. While specialization can make you a valuable asset within the region, it might limit your opportunities in NYC where the market and deal types can be quite different. However, this can be mitigated by focusing on transferable skills and seeking roles or projects with a more global or cross-regional scope while in Dubai.
Networking and Internal Transfers: Building a strong network within your firm and the broader finance community can be crucial. Even if direct internal transfers are challenging, connections can open up opportunities for lateral moves to other firms or roles in NYC. It's also worth noting that the ability to speak Arabic, while a significant advantage in the MENA region, might not directly influence your opportunities in NYC but can still be a unique aspect of your profile.
Regional Boutique vs. Western Firm: Working for a western firm with a presence in both Dubai and NYC can offer a clearer path for moving back to the US, thanks to internal transfer policies and a global network. However, experience in a regional boutique can still be valuable, especially if you're able to work on significant deals and build a strong network. The key would be to leverage this experience and network effectively when looking to move.
In summary, while there are challenges to moving from IB in Dubai back to NYC, careful planning, networking, and possibly pursuing further education in the US can significantly improve your chances. It's also important to remain flexible and open to different paths that might lead you back to the US, including lateral moves or roles that might slightly differ from your initial target but still align with your long-term career goals.
Sources: Dubai: Still a Place to Work in High Finance & Build Wealth?, Is my American Dream Over?, Working Overseas in Real Estate, Transitioning from IB Dubai to NYC, Q&A: Coming to America - A Canadian in New York
Habibi I think the answer is clear. Perform hijrah and return back to the homeland.
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