3 Big Lessons I've Learned From Working in Finance

While admittedly basic, these are lessons that I have experienced first-hand over the past five years I've worked in the financial services industry.

1. You Are Always Someone's Analyst
I had a boss/mentor that used that phrase to me…and it's really true. No matter how far you climb the ladder within an already-established organization, there's always going to be someone more senior than you. It's the price of admission, so to speak - give me relative job security and upward ascension and you take away my right to autonomy. From a work standpoint, everything you do is now tied to the institution you work for.

Even the Blankfeins, Dimons, and Pandits of the world are reporting to someone (senators) and providing them with information. The only good thing about corporate ascension is that you should strive to have more people that answer to you and comparatively, less people that you are answering to. The point is - I think there is a point in time when people decide, "yes, I am going to remain a cog in the machine, but I will be the very biggest, most vital cog possible." For me, the time to make that choice is coming soon.

2. Extroversion > Introversion
In most cases, if you are an introvert, you are at a disadvantage in the business world. To be clear, introversion is not the same thing as being shy or socially inept. It is merely the concept that you gain energy by self reflection and essentially, by withdrawing from people. Conversely, extroversion is the concept of gaining energy by being around people. Put differently, at the end of a long week, would you prefer to go get drinks with friends or curl up at home with a bottle of wine? If the answer is "it depends," well that's fine. Like most things, there's a relative spectrum of introversion vs. extroversion; you can be more introverted but still have extroverted qualities, and vice versa.

Success in finance, particularly banking, investment management, and most forms of back/middle office work is predicated on enjoying being around people, small talk, "networking," and the like. Introverts are less likely to self-promote than extroverts. The point is - If you are an introvert, own it. But also be aware that if upward ascension, career opportunities, and mobility are what you covet, you're going to need to be around people more, doing the small things that come so naturally to an extrovert. No one's going to immediately notice that guy who keeps a low profile and "waits for opportunity."

3. Have the "It" Factor
You don't have to be particularly senior to have the "It" factor. The "It" factor is intangible, and is defined as the ability to command respect without having to work inordinately hard for it. It's usually apparent in the people who don't really fit in, but aren't doing anything specific to alienate themselves (e.g. being off-putting or mean to others). Those people may not be invited to happy hour drinks, but it's not necessarily because they aren't liked. I'd hypothesize that it's because no one knows enough about them to invite them - they could also be unapproachable, but that doesn't always mean unlikeable or disagreeable.

They simply don't come off as "one of the guys/gals," and more importantly, they don't want to be. The point is - Don't second guess yourself if you are somehow doing well, but your peers don't seem to want to get to know you. It's probably because you are extremely confident and don't feel the need to fit in to gain the most out of your experience. Many times the office is like high school and if you didn't fit in there, as long as no one is giving you the office equivalent of a wedgie or swirly, you're likely going to be just fine. But - you should always be a pleasure to the people you do work with. The good press from those people will enhance your overall image to co-workers without them having tangible evidence supporting how good you are. That is how you maintain the "It" factor.

 
Best Response

They're not mutually exclusive concepts, though. Part of what confuses people about the extroversion/introversion spectrum is that extroverts are not necessarily outgoing and introverts are not necessarily shy. There are extrovert and introvert reactions to events, which is really the underpinning of what makes someone either extroverted or introverted. An extrovert's reaction to not being invited to a happy hour would likely be one of hurt or disappointment because it's a missed social opportunity. An introvert, depending on how stressful his or her day was, would likely be relieved (he or she would likely not go anyway). There are extroverts who are not invited to happy hours and are unapproachable - think of any archetypal tyrannical "bossasaurus" character. But they have the "It" factor because everyone knows that they get results and motivate people. Other extroverts are very personable but choose not to socialize with co-workers outside of work.

So an extrovert can have the "It" factor, but usually they are better self-promoters than introverts so everyone knows about their accomplishments first hand. They effectively lose any mystique around them, but hey, everyone knows they're good!

Hope that clarifies somewhat.

 

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