Interested in becoming an investment banker? If you are considering this career path, there are a number of qualities that you need to possess in order to be a success in this challenging profession.
Below, we will run down five of the most important skill sets that leaders like Marc Leder have mastered on their journey to business success.
1) Solving problems
When it comes to being an effective investment banker, being able to effectively solve problems is a crucial skill that you must master.
Before you graduate college, make certain that you are well-versed in statistics, mathematics, economics, and finance.
If you are able to pair these technical qualifications with a strong desire to help people reach their financial goals, you will rise to heights in your career that your uninspired colleagues can only dream about reaching.
2) Developing interpersonal relationships
While there are many wannabe investment bankers that have the intelligence and the skills to be a success, the truth is that this profession is one that is best suited to extroverts.
In order to court potential clients, you need to be comfortable with interacting with strangers in a personable manner.
It is also important to realize that managing the wealth of high net worth individuals is an extremely stressful pursuit. If you cannot handle other people getting upset at you on a regular basis, you may want to consider another career path.
3) Motivating themselves
In addition to having to deal with difficult people, there are other aspects of investment banking that make it a tough career to pursue.
You will be working many long days and weekends, there will be aggressive sales quotas that will need to be met, and much of the money that you will earn will be made through commissions.
When there are so many difficulties that could take the wind out of your sails, it is vital to be able to motivate yourself so you will be able to do the best possible work of which you are capable.
4) Thinking like an entrepreneur
Despite the fact that banking is a traditional profession, investment bankers that are able to think outside the box have an advantage over colleagues that are inflexible in their approach to problems.
By solving client issues in a creative manner, not only will you be able to earn more commissions than your fellow co-workers, but you will open the door for future promotions by pioneering new services that can draw in more clients.
5) Having a global perspective
Despite recent rhetoric, globalism is here to stay, as the growth opportunities that it has unlocked means that no economist in their right mind would ever suggest going back to the way things were.
If you are looking to grow your client’s portfolio in a significant way, then seeking out international investment opportunities is virtually unavoidable.
By studying up on other cultures and learning a few key expressions in specific languages, you will make the right first impression with foreign contacts, thereby increasing the likelihood of striking deals that will help build significant wealth for your clients.