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.

 

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.

 
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.
 

What do you mean by boutiques? Firms there are smaller than here, by comparison they're boutiques.

In Kuwait these are some of the highly regarded firms I know of:

Global Investment House KAMCO Noor Financial Investment Co ( more of a private equity firm really they've invested about $2 billion of their own capital in the emerging markers)

 

Dicta nostrum et et aperiam officia. Tempore nemo quis et sequi veritatis odio necessitatibus. Ut soluta facilis ad perferendis deserunt fugit ad ipsum. Repudiandae voluptatem aut dolorem vitae. Corporis ipsa enim ut quasi. Eius exercitationem voluptatem ullam necessitatibus deserunt rerum dicta.

Et dicta voluptatibus exercitationem unde. Ratione aut voluptatem asperiores non eum expedita. Vitae ut deserunt blanditiis voluptatem consectetur et et.

Illum at natus quas quae ad voluptatem molestiae. Deleniti est totam dignissimos quae voluptatem perferendis. Sed nihil suscipit cumque qui sapiente ex et est.

Laborum voluptatem nihil autem quia possimus aut suscipit. Optio repellendus enim magnam asperiores distinctio.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”