Each industry requires a unique skillset to get the job done. For some industries, there’s a strong emphasis on having hard, technical skills, while others focus on soft skills like leadership and communication.
A multifaceted field like banking requires both – technical skills like math and statistics, as well as soft skills like teamwork and time management. This guide outlines some of the top skills you need to succeed in an investment banking position!
In the world of investment banking, critical thinking skills are extremely important. Having a strong knowledge of the business world is crucial, but having the ability to think clearly and critically about relevant issues is also necessary for grads looking to meet the requirements of an entry-level role in this field.
Developing this ability is actually easier than it sounds. One way to work on this skill is to start a journal. For example, you could use your journal to record important ideas, questions, or narratives about your life. Daily reflection is a simple way to revisit your day and a fantastic opportunity to explore ideas. In addition, writing encourages you to expand upon your thoughts and form connections.
Multi-tasking and time management
Entry-level investment banking roles often require workers to wear many hats. Whether you’re an analyst or an associate, you can be sure you’ll be handling multiple tasks at a time.
Time management is an important skill for aspiring investment bankers to have because they handle a lot of tasks and projects at once. Good time management skills demonstrate to employers that you can work efficiently and meet deadlines.
Organization is the first step in developing multi-tasking and time management skills. Keep a prioritized to-do list to keep track of deadlines, and try allotting a certain amount of time to each of your everyday tasks to get an idea of how long it takes to complete each one.
In the investment banking industry, teamwork is very important. Between preparing presentations, building reports, and setting up conference calls, it’s imperative that entry-level investment banking analysts are able to collaborate with others to ensure that work is completed efficiently.
Interpersonal skills are also important for client relationship management. In some cases, investment banking associates work directly with the clients, so it’s important to develop strong communication skills so you can meet their needs.
For new grads who are naturally shy, don’t worry – there are many things you can do to strengthen your interpersonal skills. Try joining an alumni group or attending industry events – these types of social activities will help you get out of your shell and expand your network.
Investment bankers are known for their strong work ethic. Naturally, it takes a certain type of personality to be well-suited for the industry. To succeed in this field, you need to be resilient in order to manage large workloads and tight deadlines efficiently and effectively.
If this isn’t your strong suit, start by working on your stress management skills. Devoting some of your spare time to stress-relieving activities like exercise, hobbies, or volunteer work can help you better cope with pressure in the workplace.