Investment Banking Careers: London vs New York
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- เผยแพร่เมื่อ 16 ก.ย. 2024
- Get my 'Introduction to Investment Banking' 100-page career guide here: careerguides.i...
If you're interested in a career in investment banking, you may be wondering which city offers better opportunities: London or New York. In this video, we'll compare the two financial hubs and explore the pros and cons of working in each city.
We'll start by discussing the basics of investment banking and the types of roles available in London and New York. We'll then delve into the differences in culture, lifestyle, salaries and working hours, as well as the financial and professional benefits of each city.
We'll also explore the challenges including the competition for roles and and the cost of living.
Whether you're a recent graduate looking to start your career or a seasoned professional considering a move, this video will provide you with valuable insights into the investment banking job market in London and New York.
So if you're interested in pursuing a career in investment banking and want to know which city offers better opportunities, be sure to watch this video. And don't forget to subscribe for more informative videos on finance and careers.
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The quality of your videos are so good
Ah thanks!
I'd love to see a video on how to analyse a bank's financial statements and what they say about Financials vs other stock market sectors.
One of the things that often doesnt get mentioned is that UK pensions are way better, ie where I work I get 13% of my salary from my employer put into my pension and I get 30 days off a year. I have lived mostly in London but also NYC and cost of living in London is a lot less. When you compare the full package + the fact UK firms cant just sack you on the spot when down turns happen. So the full comp is closer than the headline figure of salary + bonus that most people see. Then lifestyle as well when you live in London is better imo. I can fly out to anywhere I like in the world and north america just cant compete with europe in terms of holiday destinations. So if you are lucky enough to have to choose between london vs nyc then I would say if you are a hustler, work super hard and dont care about time off and just want to make as much money as possible then nyc is the place for you. On the other hand if you want to make good money but also enjoy yourself London is an extremely nice city to live in if you are making £150k+ a year.
The flip side is tax a lot lower in NY
I'm agree with you the fact you need a 150.000 £ to get good life in London .
I earn 54.000 £ per year before taxes, I'm living a decent life in London but when I think get married with my girlfriend, having kids, getting a mortgage for a tiny house in zone 4 or 5 , buying a family car pfffff I'm getting anxious about money if I can afford a completed life in London.
I currently live with my girlfriend in Ladbroke Grove paying a rent and working a senior engineer , I don't feel will get a salary of 150k £ in my field.
Would be really interesting to see something similar for some of the 'newer' markets such as Dubai / Hong Kong.
In the recent rankings, Dubai is at like Sydney's level (around 16th position). HK is now 4th, down from 3rd rank.
Singapore is picking up steam too, although not for M&A.
Hong Kong is a new market? lol.
@@kayflip2233 haha 'newer' than the 'old' markets London and New York
Great video! I guess you have to ask yourself what your priorities are between those factors. For me I want a sustainable career and I just would burn out in that New York work culture. One thing I noticed when working in the New York office v London office is that the New York office is less social when it comes to after work but also when it comes to talking about personal life at work.
Was in Manhatten recently. Gallon of Milk is $10..Stamford , CT IS really nice though..Also a factor in that markets open 9.30 in NYC in London its 8 .. that extra 90 minutes is a godsend if your not a morning person ( and if you are not a morning person . Finance is def not for you)
😅🤦🏽♂️
These videos are class.
Thanks!
Great and detail information. That was really helpful. Thanks a lot..!!
European bonuses will smaller than NYC for the foreseeable future as any bonuses at a financial instiution over 50k euros has to be share holder approved if its more than 100% of the base. So finding salaries with cash or even stock bonuses over 100% of base in europe is rare for anyone under MD level and this has been the case for 10 yrs now. It's called the EU 2013/36 directive for anyone who cares and wants to read up on it.
First! Notification gang. Afzal dropping another gem
💪🏽💪🏽
@@AfzalHussein Just purchased my copy. Excited to get through it tonight.
🙌🏽🙌🏽
Afzal make a video about career in Equity Research in USA or London too. (I’m a student from Brazil)
Added to the list! 💪🏽
@@AfzalHussein which market nyc or london is best for a person who want to pursue his career as a trader whether stocks or etc?
New York is far more intense with a stronger work ethic than London or UK in general
I think the starting salary in London is a bit dated. S&T offer was 75k sterling plus bonus.
the US also fires employees easily...
Great and honest insight, thanks Afzal!
Pleasure! 😊
Holidays meaning vacations?
Someone told me when they went New York everyone seemed depressed. This must be why
Great content as always, any chance we can get an "introduction to S&T" book in the future? Cheers
It's in the pipeline 😉
@@AfzalHussein good stuff 👍
You’re a 💎
🙌🏽
Just a quick question if you work in london in an investment bank and do an intracompany transfer to new york, will you be paid the same as the guys in New york or still like in London?
I see you comment a lot on Investment Banking careers. However, I saw on your Linkedin you were in the GSAM division of Goldman Sachs. Additionally, you have no previous experiences in actual Investment Banking. When were you an Investment Banker?
Also new york hrs are longer due to the fact that usa does more deals due to the economy
UK has stricter labour laws than the US that's why offices in NYC can get away with long hours.
Great video once again! Only thing I want to add is that base salaries in London are currently mich higher than you mentioned (at around £70k on average)
Working in finance is not easy anywhere
I guess the difference between NY and London if once you get to the level of that intensity it's the marginal difference between working 12 hours a day or working 16 hours a day and the additional pay you squeeze out of it
Great content! What do you think about the CFA ESG exam? Is it worth doing for asset management?
Sounds like woke propaganda to me.
@AfzalHussein which market nyc or london is best for a person who want to pursue his career as a trader whether stocks or etc? and which market will provide him with the opportunities to learn more in trading?
True Gem
💪🏽💪🏽
Can you please make videos on RFP roles in asset management and exit opportunities?
Can you please make a video on what does investment bank analyst does , role of analyst.
Great Video, can you share a detailed video on topic ‘ How an Indian Professional working in India in an Investment Bank can apply for foreign investment bank job?
n you talk about London removing bonus cap on bonuses? So will the pay be like pre 2008?
This doesn't change anything. Bonuses weren't capped before, only the percent of base you could pay out. This meant for MDs if you want to reach 3m total comp you must pay 1m in base or compensate in other ways. This means at the analyst-VP level where 200% bonuses are exceedingly uncommon anyways this will have no effect.
Base pay is always better than bonus. You don't decide which apartment to rent on bonus. If removing the bonus cap is aimed at keeping base pay low, I think this is a terrible tradeoff for junior bankers in particular.
The cap was never an actual cap. All it meant was the immediate cash bonus couldnt be more than a certain multiple of base. Base salaries increased as a result of the 'cap', most bankers were very happy with that arrangement.
Goldman Sachs pays R$ 2700 (US$ 465) a month for an intern in Brazil. US$ 5580 a year for 6 hours of work a day, 12 months. Cleaning ladies and gas station attendants make more than that.
And no, things are not so cheap here.
It is better to invest now. You will never be younger than you are today and there will never be a perfect time to invest. Due to compounding,, which Einstein called the 8th wonder of the world,, you can get rich slowly from investing if you do it from a young enough age...
Yessir!
Does the other offices in the US meet these metrics New York won as well
There's no financial centre in the US other than New York that can actually rival London, apart from maybe salaries since they tend to be higher across the board in the US compared to the UK. You'd still make more money than in London if you work in other centres such as Boston, LA, San Francisco and Chicago.
should come and work in Luxembourg
Why did you choose to work at Goldman Sachs instead of a company like Blackrock
lmao, you can't shop around like that buddy
New York is better in terms of remuneration
❤. As usual, great one! But Agzal, I have a question how much is the possibility that you think the big IB'S like GS, Morgan, or Chase hire people from India if a particular indian has 2-3 years of work experience in Investment banks in India?? Do they really hire? If they do! What preparations should one do to pass their Interview?
New York is answer no comparison
For now the dollar is stronger…😈
London for banking is like playing football at the farmer's league
what a stupid comment, probably from a stupid person
More like Championship
It's the second largest financial centre in the world, and was number one not too long ago. London is very popular with those from the Middle East and Asia for big deals. More dollars are traded in London than even NYC!
Get my 100-page 'Introduction to Investment Banking' career guide here: careerguides.io/individual_guide/introduction-to-investment-banking
Hey Afzal .. You share impressive & knowledgeable content.
Do make a video on CA UK (+ India) and how these CA's can join the IB industry.
Are there any discount codes for current students for these guides?
just one thing 1 dollar equals 0.8 pounds sterling