Aiming to
develop the competencies investment banks want to see when you apply? You’ll
need to go beyond ‘teamwork’ and ‘communication’ to stand out from the crowd.Having
worked in both corporate finance and in the capital markets,I think the skill
set needed is slightly different in each,That said,there are some universal
requirements.
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Cognizance: Sector
knowledge is important and most i-bankers have core sectors in which they have
fairly deep knowledge. However, the world is evolving rapidly and sooner rather
than later ‘sector expertise’ will become obsolete. I-bankers rapidly learn about
emerging trends and businesses and develop a high level of general awareness
and curiosity about the world. The best i-bankers I know are all voracious
readers and absorb newspapers, blogs and all forms of information like the
proverbial sponge.
Interpersonal
skills: This business is all about the skills person possess. The
relationship you build with you’r clients, partners, coworkers, etc, are the
only assets that i-banker acquires. If you don’t have a “turn on the charm” button,
you have no business being i-banker. The most hard core and aggressive
i-bankers can transform themselves into charmers at will. Of course, it helps
if the charm and empathy is real and not put on.
Execution OR Sales & Marketing skills: I believe that most i-bankers fit
into one of two slots – ones that have better execution skills and ones that
have better sales and marketing skills. Of course, no investment banker can
entirely fit into one slot and must do both. However, it is essential that one
is clear about what his or her strength is and builds their forte accordingly.
Patience and
Tenacity: Deals take forever to close. Deals that appear to be done and
dusted fall off for the strangest reasons. Unless one has extreme patience and
extreme tenacity, it is prudent to take up an alternative profession.
Innovative : Always strive to hunt new
ideas & develop strategies for clients. The ability to identify new
business ideas is must for an investment banker. In
light of recent structural change in the industry, the ability to infuse
innovation across the organization has become critical for creating and
maintaining a competitive edge. As the trends change so does the technology
advances in industries.
