Hello WSO,
I spent a lot of time reading on these forums for advice, information regarding various roles, and ultimate career goals. I am 30, and realized that I enjoy more the social-sales aspect (helping others and such) as a client-facing type as oppose to working with metrics/analytical work.
What kind of jobs out there in terms of trading and/or finance that works a lot with client facing?
Thanks.
Client Interaction (Originally Posted: 10/24/2010)
sorry for the stupid question, but what's so great about "client interaction" at the analyst level? Is it just observing how your senior bankers interact with clients so that one day you can hopefully interact just like them?
that's one aspect, but another is learning how clients think about their own business and what questions they have. that's helpful for future projects because you will know what issues/questions typically get raised at different stages of the deal, and may help you while working.
it's also nice to see your work product presented to the client
Socal is right on the money. Knowing how the client thinks is key. Not only will you be able to work better on the current deal, but you'll be more useful on other deals, and down the line, you may even be able to pitch ideas to clients.
so I guess the two most important experiences to gain from banking would be (1) technical skills (to valuate companies let's say at a PE firm) and (2) client interaction (esp. useful if you want to continue in banking and good for understanding what clients think/need financially in general).
so what type of deals would be best to work on? I assume M&A deals would be great for (1) the technical skills, and perhaps just as much different deal experiences for (2)?
Listening to CEO's and CFO's describe their business plan, what works and what doesn't, if you pay attention throughout multiple calls, you pretty much know exactly what works and what doesn't in their business and later on, in their industry.
It's absolutely invaluable experience for starting your own business or just understanding the big picture.
But do you get much client interaction say as an analyst at a BB in NYC?
I was just an intern and I was invited to many conference calls. a lot of the 2nd year analysts travel and meet them in person.
^ Herein lies the dilemma though - if you're on a product team (i.e. M&A), you travel way less than your coverage peers. If you're on a coverage team, you may travel more, but you won't get the technical exposure you're looking for. Generally, because NY has much more analysts and associates, traveling / client interaction is definitely less than what it is in emerging-markets. The responsibilities on the analysts who do travel is also typically less than what you would get in other regions (e.g. carrying decks vs. actively contributing to the conversation / dining with the client)
Client-interaction is "cool", no doubt. Meeting CEO's and CFO's of multibillion dollar companies is a rush. But beyond that, and arguably much more valuable in the long-run, is learning how these CEO / CFO's think. Looking at a company from a model and some public filings is a way different (i.e. inferior) experience to sitting across the dinner table from the CEO, and being privy to conversations about how he runs his company, his strategic visions, and even the ability to observe the character traits that allowed him to be successful.
Why do so many entrepreneurs pay up to millions of dollars dine with Warren Buffett if they can just pick up one of his many books for $19.99?
Agree with above comments. Also may seem obvious, but maybe the greatest benefit of client interaction is the networking. If you show these clients that you're a rockstar analyst, maybe they remember you when you're looking for that PE gig.
Ibhopeful: That's why it's good to join an industry team that does their own modeling. Best of both worlds (no hannah montana reference intended).
^ absolutely =/ unfortunately, most banks / clients are not concerned about the analyst's experience. They just want to produce the best work in the most efficient manner possible. That = M&A teams are separate from Industry teams at virtually all banks. (except of course, GS, Barcap - kinda, and boutiques). I think boutiques are quite the experience... and eventually it'll be what this industry will trends towards
What is the best client facing role in an IB? (Originally Posted: 10/08/2013)
Howdy. So I am ex-big 4 and I am currently working for an IB. The few things i really miss about my old job is the client facing aspect and the travel. Can you guys recommend positions/departments that would be cool to join? PS i have a personality so dealing with people is not a problem!!
CEO would be the best.
lateral to ER?
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