Questions about Ibanking in Israel

Smeegs's picture
Rank: Chimp | 5

Hi,
I'm currently living in Israel and I'm very interested in entering Ibanking after my undergrad but I had a few questions first:

  1. Does anyone know how the salaries fare here? Salaries tend to be a lot lower in Israel (usually up to 75% lower). Does anyone know if that's the case with International firms? e.g. Will the salary at Morgan Stanley be the same in the US as it will in Israel? or is the salary in Israel expected to be much lower?
  2. Assuming the salary in Israel is lower. I've heard that the big Ibanking companies recruit from "target schools". If I wanted to apply to an office of theirs in the US would I have a chance, coming from an Israeli University? (Top university in Israel... but not internationally ..) or would it be worth it to me to study in the US/Canada? (I'm fluent in English by the way).

I know it's probably tough to answer these questions but I'd really appreciate anyone who has any insight on the subject.

Thanks,

Comments (9)

Dec 24, 2010

dress code over there: black suit, white shirt, baby blue tie

oh, I forgot, and a bullet proof vest

Dec 24, 2010

I am pretty sure that the pay is pretty similar to that of the US in banking. And it is not easy to break into Israeli banking, maybe even harder than American, as they hire top candidates from around the world.

Dec 24, 2010

without specific knowledge of the israeli scene, i'd imagine that most analysts they hire are coming from israeli universities - haven't really heard of people from us/canada being recruited over there.

so if your goal is to work over there, you'd probably have a shot coming from a top israeli school. i'd definitely recommend contacting people who work in the industry in israel though to get more specific advice about how recruiting works.

if your goal is to work chutz la'aretz, though, it will probably be way harder if you're in israel for school, since everything about the recruiting process and interviews will be pretty inconvenient - aside from the fact that people may have never heard of your school.

hope that's somewhat helpful - biggest piece of advice is to talk to people in israel about it, since they'll know best

Dec 24, 2010

one additional thought though - there are certainly israelis, or american-israelis, in the american i-banking scene, so you would have somewhere to start from at least in terms of networking.

and assuming you served in tzahal, that's an advantage over here too - military experience gets you points, especially in the leadership area

Dec 24, 2010

Friend of a friend is currently in the Israeli Army and he told me that its almost impossible to get a job over there without having done your mandatory service. I don't know if you have, or even how true that is, but it could be a consideration.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Dec 25, 2010
happypantsmcgee:

Friend of a friend is currently in the Israeli Army and he told me that its almost impossible to get a job over there without having done your mandatory service. I don't know if you have, or even how true that is, but it could be a consideration.

There's nothing to be "considered" about army duty in Israel lol

Dec 25, 2010
happypantsmcgee:

Friend of a friend is currently in the Israeli Army and he told me that its almost impossible to get a job over there without having done your mandatory service. I don't know if you have, or even how true that is, but it could be a consideration.

It's very true.
I have done it though :)

Dec 25, 2010

My bank, along with many others, has a small team of senior Israeli banks that operate as a part of the TMT group but also do a bit of Aerospace and Defense. The Israeli guys will generate business and be the face of the deal but will get support from the group back in the USA. I'm not sure which banks hire analysts out there and what the process would be for you to be hired. If you can find an alum that works in banking you may want to reach out and ask him what the process looks like. I'm sure he'd be understanding since hiring seems less structured there than in the United States.