GUEST COMMENT: How I broke into an investment banking role in Dubai

As a graduate based in the UK, breaking into investment banking in the Middle East is no easy task. For a start the number of juniors recruited is relatively small, and if you want to be taken seriously you need to convince firms you're serious about the move rather than simply another speculator.

My (small) connection to region was that I was born in the Middle East, but although I speak a little Arabic, I'd spent my entire life in the UK.

Getting your foot in the door

I knew that if I wanted to work in Dubai full-time, I would need an internship there to maximize my chances. I applied to a few banks in Abu Dhabi and New York as well, but the focus was definitely London and Dubai.

I targeted around 50 banks, from boutiques to bulge brackets, with roughly an 80/20 split between London and Dubai.

A lot of banks do their Middle East graduate recruiting via London, so most of the time I was actually applying to there and just indicating my interest in Dubai on the form.

It does vary a bit by bank, though, and a few bulge brackets (like Credit Suisse and Goldman Sachs) are actually regional and recruit through Dubai.

The problem here, though, is that it's simply a case of applying via London - you have to network your way to an interview instead. In London, universities like LSE and Imperial College conduct trips to Dubai and they go around meeting with different banks, which allows you to meet some key people.

It's important to do some networking on the ground, you build a stronger connection and come across as far more serious if you go there in-person.

The Middle East connection

When you submit your CV, the biggest thing to bear in mind is that banks want to see someone genuine commitment to the region.

If bank looks at your CV and has no idea why you're interested in Dubai, you're out. It doesn't always have to be a deep connection, it really can be anything: maybe you have family in the Middle East, maybe you were born there or studied there, or maybe you have friends there.

I had an advantage since I knew the language and had a name that "looked" Middle Eastern, but anything could work if you're creative enough.

What to expect in the interview

Unlike London and New York, where you have to apply in September to stand any chance, the summer recruitment cycle in Dubai is different from places like London and New York starts in April.

This isn't the only difference you should expect. Investment banks in Western markets tend to silo graduates into the likes of ECM, DCM and M&A within the investment banking division. In Dubai, it's a lot more generalist, which means that 'investment banking' covers all these areas and interview question topics cover a range of issues from accounting to valuation of options.

The interviews themselves were not all that different, though. Here's what I encountered:

Bulge Bracket A: Had two competency-based interviews in the first round (with an analyst and associate), a second round with an associate and VP, a third round with a VP and someone from HR, and a fourth round with a VP and MD. The first round was over the phone, and all the rest were in-person at their office in Dubai.

Bulge Bracket B: The first round was a mix of competency and technical questions, and then the next round was all competency and market awareness-type questions. I had two interviews in their London office for the first round, and then did 2 phone interviews with people in Dubai. And for the final round, I still went through an assessment centre as you normally would in the UK.

Bulge Bracket C: Overall they were more technical in the first few rounds, but the final round was mostly competency questions once again.

The Middle East has good prospects

A year or so ago, I wasn't so certain about Dubai's future. There was an eerie feeling there, with so many unfinished buildings, and I just remember thinking that the place needs more people!

But recently things have picked up and that's primarily the motivation behind my decision to build my career there. I'm optimistic about the Middle East as a whole and think there's still a lot of opportunity there - over the next decade we will see many competitors in the region fighting to take over Dubai's dominance, and competition is always healthy.

The author is a junior investment banker working in Dubai. A longer version of this article originally appeared on Mergers and Inquisitions.