So you’ve just started your investment banking career and you are finding it a little difficult to manage. Are there any significant investment banking career tips to learn? Of course, there are plenty! Now read on to find the best ones!
- The first step would be trying to become a man with a solid strategy. Yes, you read that right! You have to know what works and what doesn’t if you’re seriously interested in having a great investment banking career! To know more, consider watching the movie Wall Street and study the character of Gordon Gekko.As the young analyst or investment banker, you need to know a few tricks if you want to survive throughout the relentless competition. Remember, your colleagues will have a short memory so you have to perform above expectations at least in the final months of the year so that you get noticed for your integrity, teamwork skill, loyalty, reliability, and another technical skill set. Other than being a highly skilled investment banker or analyst, you have to be nice to everyone and network consistently.
- The world of finance is ruthless to those who just follow the pack. Other than having a good grasp on investment banking knowledge, you have to create your own standard for success, follow your instincts, strategies to stay above everything. If you’re just following the pack, then you won’t be able to beat the S&P 500. According to Gordon Gekko, the sheep usually get slaughtered.
- If you’re truly concerned about having a career in investment banking, then you must work hard to get the best possible experience at your first job. While working, you’ll receive an intensive training in divestitures, joint ventures, recapitalization, and many more topics. Be persistent enough to make the most of the investment banking knowledge.
- Be energetic, persistent, enthusiastic, and tenacious. Most of your pitches won’t be successful even after spending hours working on it as the competition is fierce over there. So you need much more than intellect. You need unyielding in such moments. Being a tough-nut is one of the pre-requisites to survive in the realm of investment banking.
- Apart from your investment banking knowledge, you must learn the art of influencing people. Pitching to clients is an art and as an investment banker or analyst, you need to acquire that skill. The first step starts with understanding and noticing people. Notice each and everybody language. You’ll be playing the role of a salesman and lawyer. So if you cannot influence people then it might not be the right career for you. The relationship is everything in this field, and you need to know that it can take years to develop a great relationship with your client. After that, you need to be focused on making it a long-term relationship. Clients love loyalty and it takes years to build such kind of rapport and trust.
- You’ll be competing with multiple people for each role. So better remember that lying about your abilities isn’t an option to consider. Be honest about your abilities so that you’re not overselling yourself for the job as this could be dangerous.