Investment banking is a field that is desired by many but only a few lucky ones can get a taste of it. The quality that makes IB the most aspired and competitive sphere of work is that it doesn’t welcome anyone and everyone and select a tiny number of competent professionals with unparalleled knowledge of the field.
It is not every person’s cup of tea to enter, moreover, survive in IB for a long haul. The work that investment bankers face on a daily basis is steeply demanding and it keeps getting complex as you move up the ladder. In most cases, junior ranking bankers are busy in grinding out pitch books and spreadsheet, while senior Investment Banking Professionals are the ones burning the midnight oil by persuading clients and generating revenues for the firm.
Thus, it takes a significant amount of talent and confidence to own a senior position in this realm and sustain it in the long run. This article encircles the traits, habits and Investment Banking Knowledge that one must have a tight grip on in order to earn a high status in IB.
- Successful Investment Banking Professionals egotistical and thick-skinned
If you are handling the managing director position, the pressure will increase exorbitantly. Clients are going to be demanding, the management shall be unreasonable as well as job security shall always be trembling. A study revealed that post-crisis IB professionals see themselves as solid survivors who think that they have to keep their needs above those of the bank. Researchers unveiled that emotions do not mix well with Investment Banking.
- Celebrated investment bankers are amazing salespeople
In the end, most investment banks offer the same kind of services. Therefore, it is about selling your own self as much as it is about selling the bank. Hence, being likable can perhaps be seen as the most undervalued part of this job.
Those professionals who do not own the skills of building personal relationships or who get unstable under the pressure of having to continuously refilling a pipeline of business are not really cut out for this profession. Managing directors in IB typically last for almost eighteen months and most of the people just cannot manage the high amounts of revenue which they are expected to produce every year.
- Risk taking is a prerequisite for becoming an established Investment Banker
career paths in IB are not always in a straight line. Bankers can be transferred to disparate locations and not be expected to work in just one particular area of work. However, they must know how to make the best of difficult situations. As they say, when life gives you lemons, make lemonade.
There are times when, as an investment banker, you would be asked to move to another city or country. The best way to handle the situation would be to accept the offer because the worst thing that could happen is that you will get to learn more about your industry. Learn more about different fields of banking and finance that you can consider, on this website: www.usacommercedaily.com