Investment Banking Front Office & Back Office (KEY DIFFERENCES You NEED to Know!)
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- Опубліковано 2 чер 2024
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TIMESTAMPS:
00:44 Why it's important to know the differences
01:17 Front office
01:44 Back office
02:26 Work/life balance in the front office vs back office
03:04 Front office hours vs back office hours
03:50 Divisions and business within the front office and back office
05:08 The asset management division
05:54 The markets (sales & trading) division
06:31 The investment banking division
08:02 The private banking division
08:37 The research division
09:10 The operations division
09:57 The human resources division
10:09 The finance division
10:29 The audit division
10:42 The legal division
10:50 The compliance division
11:39 Summary and suggestions
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Qa
I hope u meant 22 hours a week😂
Great video, Can you please record a video covering the separate divisions within the front & back office
Thanks! Sure!
@@AfzalHussein Hi, where can i find these videos ? I work in Audit, what tips can you give me before i movie into Industry?
Great video! In my experience, back office at Goldman has never been 8-6 on a regular day. It is definitely not a 22 hour day but roughly around 11-13!
I would love a video going into detail on the investment banking division. What your role is in an entry-level role vs an associate position, what kind of analysis you do, what skills you need to develop etc.
yes, please do a video on the different divisions at goldman! I'm really struggling to find my fit. thanks for the consideration
Hey Afzal, great videos mate! Would definitely love hear about the different divisions within the front and back office. I am particularly interested in the M&A division. I know that's not your area of expertise, but appreciate if you could make a separate video on that. Cheers!
I‘ve go through almost all of your video hahaha, they are quite useful and let me know exactly what I want from investment banks, thank you!!
That's a great video.. would like to watch videos on divisions in detail.
Loving your content mate! Would love a video about the different divisions in Investment Banking.
Mate, that’s some great insights from you! Love your content! Keep up the work, and we shall be liking and sharing these videos ✊
Thanks! That's really kind of you! :)
Hi Afzal, another incredibly useful video and valuable insight! I am soon to attend a 'super day' in London for the Internal Audit division and was wondering if you could give me any advice as to what the interviewers are looking for, or perhaps break down what part the audit team plays in the firm as the information given on the company website is somewhat limited. Thanks again for the great content and advice!
Your newest video is getting some serious attention. Great work man!
Hey Afzal, Your video is very helpful ! I thank you for doing a great job helping everyone else ! I had a question about Research division in front office as I am looking forward to work in the same. May I request you to do a detailed video on Research division ? also, how are the working hours and work life balance in research division ?
What a brilliant channel!!! I would love if u could make a video going into greater detail about these divisions. Thanks and please keep up this amazing work!
Thank you, JP. Will do 👍🏼
Please video on the different divisions for the front office!
That was Great! Would definitely like to watch videos on all the sub-divisions etc!
Thanks, Mate!
Hi Afzal,
absolutely love your channel. I'm currently in my last year of my bachelor's studies and would like to get a m&a intership somewhere but I'm not sure how I should/could prepare best for it or if I should complete any other internships first in order to prepare for m&a. What do you think would be most beneficial for me in order to prepare well?
Hey, please also do a video on the different divisions in both front & back office? Or rather, have you already uploaded such a video?
Thanks, great channel, will definitely recommend
A description of roles within back and front office would be great! Could you also touch on industry groups and product groups within an IB?
Will do :)
you have amazing videos here !!!! thx man !!
please do a video on the separate divisions within back office and front office. Thank you
Great content!! Thank you very much. Greetings from Brazil.
Awesome video mate
Just saw your LinkedIn post on spring week workshop. Hoping to be one of the 10. Great video as always
Hey, be sure to email me on info@afzalhussein.com if you haven't done so already :)
Hey, I really appreciate the kind of initiative you’re taking in explaining all these things which are always in doubt for most students. Please, make the video on various back end department (especially data resources group of IB) as it is very urgent and I am applying for an internship in that department. I sincerely hope you will help me out ASAP.
Apologies, it's been manic. It'll be in the pipeline. Sorry!
Thanks for Sharing the insight of enterprise system and services, would it possible to share a separate thoughts for back office alone. Explanation for back office is not detailed as front office :)
Hi Afzal, you are doing great and useful videos, thank you! I really would like to see a video in which you explain in a deeper way the differences among divisions. I am in particular interested in risk, investment banking, markets and operations divisions
Thank you for your feedback. Will add that to the list :)
Barclays have a graduate scheme available just called 'graduate scheme' but they also have other grad schemes such as wealth management, m&a etc. Will I get to choose what division I go into or will they put me in a division?
Thank you, Mr Afzal
If it's possible could you make a video on M&A and private equity?
This video was so insightful! Thank you so much for sharing!
Would you be able to go over the Finance division (back office) in an Investment banking please.
Hey! Thank you. I'll create a more extensive video soon. Thanks for watching :)
What is the skills should be with the first year student wants to take an internship in investment field or investment banking tede and sales sector . Thanks a lot for your awesome videos .
do many people use research roles as a springboard to enter into another job in the same company in order to gain some more knowledge in a certain field
Please do a video on Different Divisions within the front and the back office.
Thank you Afzal, keep going,
Good luck 👍🏻
😊👊🏼
please create detailed video on the separate divisions of front office, middle office, and back office and also tradelife cycle
Great Video 👍 thank you so much for sharing your knowledge.
Could you please advise project manager in investment bank comes under front office or back office.
Nice informative video, please make a video on different desks in an IB
Hi Afzal,
Just wanted to ask about Research Division. I've always been interested in EM Research since listening to Jeff Meli's Flip Side podcast from Barclays. I also read about MIFIDII impacting on research divisions. (Probably a no brainer)Do you think it is wise to rethink where I should be applying to considering regulation changes?
Thanks
Chris
Can you make a video about career paths for introverts or more reserved persons in banking and finance, please.
Hello Afzal, thank you for the video. Could you please go into more detail later about the Technology department in investment banking? The work-life balance, the average salary, how does it compare to a traditional technology company? Thank you very much
Hey! For sure, will do :) Thanks for the suggestion.
Great video! Thanks.
Thank you! :)
Thank you, Mr. Afzal. Thank you, thank you, thank you, sir.
My pleasure!
Is a business development role for M&A transactions a front office or back office role ? Because it's still sales but is that different to a sales analyst role?
Afzal is such a cool guy
Timestamps are a good touch. Keep up the great work
Thanks bro!
@@AfzalHussein Would be great if you could make a video in the future about what is required to move from e.g. a legal role to a more investment focused role. What kind of skills should one be self-educating themselves on to make this transition etc
Good shout. Added to the list :)
I enjoyed this video. Thanks, Afzal.
Thanks for watching!
I like your videos man , keep up the good work
Thanks!
It would be great mate! Just discovered the channel, Love ur contents ✌🏻
Thanks! :)
Loved the video! Have you made one on the difference between buy-side and sell-side?
Thanks! I haven't yet, but that's going right onto the list. Thanks! :)
I- is that Nathan Adrian?
Can you do a video on the technology division. I’m currently in the interviews process for engineering at Goldman. Your videos are incredibly helpful!
hey how was the engineering process to goldmans?
Great video, do you think you can do a further analysis on the different roles between front and back office?
Thanks! Added to the list :)
Please make the video mentioning the divisions of the back and the front, kind regards
wait wait wait, did he just say 22 hours a day.... I guess sleep is for the weak then!
:')
What are the linked back office roles to front office roles? Is there a list of who matches where?
Great video! Can you say how much a back office investment banker earns please
Honestly, front-office client-facing my ass.
Why you Should work Middle/Back-office: work a very respectable job, focus on being self-driven and get a couple nice promotions under your belt, get some management experience, work with people that actually enjoy their job and colleagues, maintain a healthy work:life balance while not going bald with 12-18+ hr workdays, pursue your passions on side hustles + develop your own business ventures on the side
Can you make a video on how much cocaine yall do? 22 hour days?!
Hahah! I did an Instagram poll on this. 123 people voted in favour and 18 people voted against...
@@AfzalHussein it's settled then haha!
Can you transition from back office operations analyst position to a front office role ?
Hello.. Can you let me know instead of 3 separate divisions i.e, front, middle and back. Why cannot we have just one division?
(This was an interview question asked to me)
Please do a vid on the different divisions 🙏👊
Great video Afzal! How do Boutique's fit into the scene? Do they specialise in some division?
Thanks! Will have to do a video on this topic. Short answer is 'yes'.
Please make a video on the different offices of the front office
is it possible for people to switch their careers to investment banks from other industries? for example, people without financial working experience at all.
Is pay between front and back office significantly different?
I want to see the video!
Alot of people say that operations has no career progression but you say that after a few years they can move to front office?
please make a video on different roles in front office
please make a separate video on front & back office
Thank you for your videos, they are very interesting. I am a 1st year undergraduate student, studying economics in London. How it is called the department that issues debt? If a plan goes wrong apart from firing do you have any other responsibilities with the law?
Hey, thanks for your comment. The investment banking division's DCM (Debt Capital Markets) team is usually responsible for issuing debt. Although various other parts of an investment bank such as the asset management division or the securities (otherwise known as sales & trading) divisions are also involved in buying and selling debt to and from companies, governments, etc.
@@AfzalHussein As Afzal mentions, DCM looks after debt issuance. There are two parts of DCM, a wider DCM Coverage team who tend to cover different regions or products (for example, US FIG or APAC Corporates or EMEA SSA [Supranational, Sovereigns and Agencies]) and is very much client focussed. DCM tend to understand the liability and debt structure of their clients (think how much debt outstanding and at what maturities) and spend a lot of time on pitchbooks.
Within DCM there is a team called 'Syndicate' which are kind of a trading desk, are markets focussed and will provide market feedback to the DCM Coverage teams on where they think it is advantageous for Issuers to market a transaction (e.g Buyside may be risk averse due to macroeconomic conditions, this favours shorter duration debt and therefore less interest rate risk). Syndicate are also responsible for underwriting the eventual debt issuance and syndicating it to buy side clients (inconjunction with the banks sales teams...who normally sit in Global Markets divisions). Their job is to minimise the risk the bank is exposed to by underwriting debt issuance by selling it onto clients whilst also collecting fees from debt issuers.
If you have any further questions on DCM in particular please let me know
Thanks for the detailed comment! :)
NYC.. video...actually I have been working in front office at private bank.i would like to move to back office...really I'm blank ..can suggest me idea...
Which experience did you make with the tax department of GS etc?
Please go ahead with that’s… thanks lot❤
Short and simple..
Does anyone know if corporate and workplace solutions is back office or middle office?
please create a video about middle office and trade life cycle for us bonds also
Hello brrother please make video on p&s team in investment banking, FI operations
What is Operation roles within an Investment Bank !!!
We wanna see a clip about divisions in front and back office.
Please, could you a separate video of the back office
Can you explain IWM, AM and PB?
Sir plz do videos on different divisions of fo and bo
independent price verification (IPV) is operation?
Please feel free to like, comment and share this video so more students can benefit from its content! :) Oh, and SUBSCRIBE too for weekly videos every Wednesday!
Make separate video on front office and back office.
What's the Marquee team? Is it part of front office or back office?
Hey! Thanks for your question. Marquee is in essence a back office/middle office team of technologists focused on creating a platform that allows Goldman's clients greater access to the firm.
Everything you need to know is (hopefully) answered in this article:
news.efinancialcareers.com/uk-en/272629/goldman-sachs-marquee
Enjoy!
Wat degree did u do akh
Can you do another video specifically on investment banking
Will do :)
Do you think that clients no longer paying for research affects research analysts salaries?
Potentially. Some firms specialise in research and so have more budget and allocation towards those salaries (these firms are usually smaller and boutique); some firms are the opposite. But yes, with MIFID II regulations this has been a common topic.
50k soon come bro!!
🙌🏽🙌🏽💪🏽💪🏽
Yeah please do a video
Please details of front and back office opérations
Gond video😉😍👍
Aren’t managed funds kind of a joke? When you can get better returns with an etf like SPY or VOO?
Hi
Can you create a video on investment banking, distressed debt department of Goldman Sachs
Please 🥺
Yes do it
Nit gonna lie back office seams way more appealing to me
Quick question: 22hrs a day????
Can you do a video about what traders are doing all day
Thanks for the suggestion. It's on the list :)
Hey Afzal thanks for you series on IB. I have been working for the past 5 years in a research role at a financial data company (almost a whale in the space). But I'd like to move to IB. I'm a CFA L3 Candidate and I'd like to know that apart from straight out of Uni under-grads do other people in different roles stand a chance of getting into IB. What kind of a gap in experience would one face? And is an MBA now the only (read almost only) way of getting in. Also do you think an internship after 5 years is something I should consider to break into IB. please make a video from the perspective of post-UNI Hopefuls. Thanks & Cheers!
Hey! Pleasure. Congrats on passing CFA Levels 1 and 2. So many 1st, 2nd and 3rd year analysts (i.e. those who graduated and spent 1, 2 or 3 years working) often move into IBD. It helps to have a strong IBD skillset and know the technicals to a high standard as you'll be competing with students who have a strong sense of knowledge around IBD. Sometimes, you have to take a few steps back in order to move forward and so you could consider doing an internship, securing an offer, and then moving forward at the graduate level. However, have this option as a last resort. Before you decide, ask yourself why you want to go into IBD. Network and talk to people in the role/industry, etc. Will do a vid in due course :)
Do you still work for Goldman Sachs or another financial firm or you a full time youtuber now?