WHY I WILL NEVER WORK IN INVESTMENT BANKING
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- Опубліковано 30 лип 2024
- Today I talk about why I will never work in Investment Banking and why I don't recommend it as a career choice.
Check out the below links mentioned in the video:
drive.google.com/file/d/1jyeu... www.bbc.co.uk/news/business-5...
www.thetimes.co.uk/article/89...
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If you have any questions please comment below or message me on Instagram:
/ fehzan_mehdi
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calendly.com/fehzanmehdi
I totally agree with your point of view about money which is NOT everything
Thanks for your time and information habibi
Thank you for the kind comments!
Love the content bro keep it up.
Thank you bro
University is starting again next month, have you done a video before on tips for students studying accounting & finance etc? I think it would be really useful and a nice insight as I don’t know anyone personally who has studied it.
Thank you have you seen some of the videos I’ve done on study tips although they were made for chartered accountancy exams still applicable to university exams
hi i hope you’re doing good i would like to ask you a question which is will i be able to get into a accountant school lever program with a grade 4 in english language and if yes do you know which one?
Yes they will I'd recommend checking the organisations I regularly mention i.e. Top 20, FTSE 100, Fortune 100. I know EY accept a 4, I believe Grant Thornton do too, but best to double check this information.
Hi Fehzan I wanted to ask Pwc offer a degree apprenticeship with Queen Mary to study accounting where you do 3 placements with them and they offer you a grad job after would you recommend this compared to Pwc audit apprenticeships as you can only apply for one
Yes so if I recall correctly you have to pay for the degree and PwC pay you for the placements you do with them and at the end you end up with a degree and the ACA. It depends on whether you want a degree or not as the second options means no debt!
I would recommend the second option however I know people who have done the flying start programme and done really well too. So comes to down to you - do you want a degree or not? Once you’re qualified it’s not needed but I know some people still want one.
Unrelated to this video but would you say a big 4 school leaver programme would be better then a mid size firm despite the worse work life balance as some more senior jobs require big 4 training or consider it highly advantageous
Yes exactly your point mate big companies ftse 100 size will sometimes ask for candidates from the big 4 only. So yes for that reason big 4 experience is seen s better than mid tier firm but you can move up to the big 4 after mid tier experience later on in your career. I think EY just recently announced a scheme to bring in more audit seniors from a mid tier background.
@@FehzanMehdi thank you, great content!
Hey, I know that I definately want to go university and move to London and I am thinking of potentially becoming an accountant/audit. Would it be important to study accounting and finance or does it not matter? Is the big 4 a good place to start my career or are there better options? Sorry for all the questions 👍
No don’t have to study accounting and finance and yes the Big 4 are a good and popular place to start your career. They receive thousands of applications each year for their early career positions.
As a accountant are their any religious issue such as dealing with interest?
Yes there are I’ve done a video on this called dealing with interest. There are issues to consider and these should be discussed with a person of knowledge
Salaam! I went to university very late and will be graduating just before I turn 33. Is it still worth going into accounting, how hard is the ACCA (I am studying chemistry)? Thanks!
Yes ofc a lot of people join graduate schemes with a wide range of degrees to become a chartered accountant. Any professional qualification is tough but that shouldn’t deter you, chemistry is a hard subject as well!
@@FehzanMehdi Jzk for the reply. I was referring more to my age, would it be a problem?
Wa iyaak no it’s illegal to discriminate against someone due to their age!!
@@FehzanMehdi okay that's great to know! Do you get older people in training?
Yes you do, when I started I trained with a few grads who were over the age of 30!
Asalamualaykum Fehzan. This is one of the first times i seen your video in full and really agree with your points. I am also a qualified accountant working for the Healthcare sector - NHS. Currently, CFOs and FDs in the nhs are earning around Band 9 and above salary which is around min £100k a year.
You are correct about mental health sometimes its worth taking a little paycut if it improves your mental health.
Are you close friends with Abu Musa by the way because you both share very close interests and speak about similar issues?
Wa alaykum as salam yes we are friends and record together too!
@@FehzanMehdi mashaallah great stuff keep up the good work.
the theory of ‘you never know what they do with your money’ can literally apply to any firm.
True but banking and insurance is quite clear cut from many peoples perspective
@@FehzanMehdi i guess it depends on how far people are willing to go with regards to interest-based / haram activities
Wow thanks! I have 2 questions,
1) do you need to be particularly smart at maths to get into investment banking or just the same level of maths as accounting?
2) are ALL investment banking jobs hardcore long hours or can you get a job in it which is just a regular 9-5 etc thanks!
Firstly important to note I don’t promote careers in Investment Banking so am not the most knowledgeable in that career sector but like many industries investment banking will require a lot of analytical skills so it’s not so much about the maths I’d say but more if you can process things logically and use excel to do the hardcore maths for you.
If there was a regular 9-5 job I’d question if you’re in investment banking lol and if you’d have the same earning potential as Analysts say.
@@FehzanMehdi okay thanks😂👌 yeah if there’s no regular 9-5 jobs in it I don’t think it would be appropriate for me because that would restrict so many other things in life and I’d just be tired 24/7.
@@ShammarPrincess To be fair there aren't many jobs which will be regular 9-5 if you want to progress. You have to show commitment and naturally in bigger organisations the environment is more fast paced so you need to do long hours sometimes to get the job done!
Hey boss.
I am lost. Should I study accounting/marketing/finance/business administration?
That’s a wide range of subjects! Message me on insta to discuss in more detail
@@FehzanMehdi thank you very much
what’s your instagram @ ?
@@HarbAli47 It's just my name
It just depends on your interest and goals. I would recommend business administration since it includes everything and at the end you will have option to study one thing for whole year.
Nice video, the audio seems weird on the right side.
Thank you I will look into this
love you bhai
from INDIA
Thanks bro
Is it permissible to work for the big 4 ?
Yes or not give an explanation in both the cases
I'm not the person to ask this question. Please go to a person of knowledge.
Depends on your area of work inside them
Agreed. 98 hours for few thousand more as at cost of peace . Not worth it
As far as working hours concern, I don't care I can work for 16 hours a day... I just need MONEY. Also many investment bankers left industry after 4-5 years after making a lot of money... that's a good path! First make money then do something with good work-life balance.
If you value making money over work life balance that’s your choice.
@@FehzanMehdi hmm
Is financial modeling is haram ?
Always best to ask people of knowledge these types of questions, I'm definitely not of knowledge. One point to consider is permissibility of the company you're modelling - if it's an alcohol company and through your work a 3rd party may invest in that company - I definitely see potential cause for concern there. However, like I say check this with a person of knowledge.
Give me one word answer wheather is it haram or halal
Not as simple as that I follow the opinion investment banking is haram but these conversations are for people of knowledge
Left ear left the chat.
Main is interest RIVA
Yes Investment banking has DCM (Debt Capital Market).
Which includes interest. So it's outright haram without doubt.
Very Important video brother.
Thanks bro agreed very important to raise as a lot of young people are interested purely by the compensation package.
@@FehzanMehdi but can a Chartered accountant work in M&A advisory?
That depends on the role itself and what your day to day involves. If there’s debt financing involved then you know that’s impermissible but can’t just give a blanket ruling on this best to approach a person of knowledge.
@@FehzanMehdi thanks bro.
Just can you make a video on what are the job profiles are completely halal for muslims to work in accounting and finance?
Working as an auditor or tax consultant haram or halal?
In big 4 and companies
I can’t say it depends on the job responsibilities, sector you’re working in etc. I’m not the best person to speak to re this and can’t give a blanket opinion.
Oil and gas industry is great altrnative if you want high halal salary 🤷🏾♂️
Very true a sector that pays well
Sorry to say, I'm Muslim too but every high paying job is haram means muslims are meant to be poor? lol. People are making millions working in banking and high finance fields and here we are having problems over haram-halal stuff.
Can’t say that every job that pays a lot of money is haram. If you value making millions over your religion then that’s your choice.
@@FehzanMehdi Almost all finance related jobs have haram-halal issues and different scholars have different opinions over them.
Again can’t just give a blanket statement that almost all finance jobs have haram - halal issues. It’s best to take your specific circumstance and discuss with a person of knowledge (not me)
"People are making millions working in banking" Riba is haram bro. Ask youself, would I rather make millions of dollars in haram money, and while doing that earn that anger of Allah, or make lets say $50k a year Halal.
There are manyyy jobs that are 100% halal with amazing pay, I can sit and name over multiple just off the top of my head, why not go for those jobs instead of dealing with Riba. Remember, this life is very short, and when we die, those millions of dollars we made wont be going to the grave with us
@@liby254 Yeah I know... but still I don't think any other career can make more than banking.
Muslim