Hi Everyone - I did an internship at a middle tier BB last summer and going through training for full time this summer. I noticed the people who go home earliest have been at the bank a year or two and can crank out work unbelievably quickly. Aside from “more reps,” what other ways can bankers get really fast at work output and increase efficiency? Any tips would be extremely appreciated! Thank you
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Go slow. That sounds kind of counterproductive, but hear me out.
Let's say someone rushes through something in 10 mins. Then, later on, they realize they made a mistake. Or want to double check. Or have to revise something for their MD. Let's say that takes another 20 mins. So all-in-all, this guy took 30 minutes.
Let's say someone else takes their time going through a task. They do it meticulously, and are sure to gather all the requirements beforehand. Maybe it takes this guy 25 mins all-in-all. So, basically, this guy got it done quicker, even though he took longer, seeing how he was careful and meticulous from the get-go.
There's a saying - "if you don't have time to do it right, you won't have time to do it over," or something like that. Basically, do it right the first time so you won't have to spend even more time fixing your errors.
Definitely agree that slower is faster...not arguing with that. But what things have really helped you out? Like only touching the keyboard and not the mouse, having an outlook folder for each deal, etc.
Great tips.
I'll add that learning all the shortcuts and stuff is a must - that is something you can practice if you have downtime. It might take a bit longer in the beginning vs. say, using your mouse more, but it will pay off tons down the road.
Edit: Looks like my 1st edit didn't save - getting a gaming keyboard / mouse can be a time saver too. Can have custom macro banks on the keyboard and add'l side buttons on your mouse (mine has forward / back buttons on the side I can press with my thumb).
Agreed. I think this is the biggest low hanging fruit out there.
got such a mouse - what shortcuts would you bind to these buttons?
.
"slow is smooth and smooth is fast" is a mantra i teach all of the juniors i work with. they more relaxed, so the work product is better and less edits / turns in the long run.
"Measure twice, Cut once."
Just thought of two for file management that I remember from last summer:
-Add the deal folder from the drive for any deal you're working on to your Quick Access tab in Windows Explorer -Create a shortcut your desktop for any live deal folder on the drive. Then assign a hotkey to it by right clicking and going to the short cup tab. Voila...you can now get back to the live deal folder with two or three presses of the keyboard
Does anyone have tips for email management or general task management? I normally have a notepad file (like word but more barebones) and use it as a to-do list for anything that comes in via email. I feel that it’s a little disorganized at times though
Also how do you keep track of your mistakes? Just list them in a word file?
I just write them down in a spreadsheet then put a Remarks column and another column for flagging them accordingly.
I used to move into deal folders and then sub folders within. Anything requiring action I would flag and leave in my inbox until completed which I would remove the flag then move to folder. Might not work for some but worked for me
Outlook email: don't use the mouse, keyboard shortcuts for email (CTRL + SHIFT + V moves emails you've selected) plus get good at search e.g. "From:" "To:"
General task management: think modular: group big things / projects/ memos / models into smaller modules, and within that get granular on exactly what you need to do as specific as possible. Then you can organize your time around the modules, can effectively delegate, communicate next steps, etc.
I would like to know as well if you have any tools that we could use apart from the usual 10k, logointern etc. It would be pretty nice to know whether this stuff is already being used by other bankers
Some easy ones off the top of my head: -Learning every possible keyboard shortcut for excel, powerpoint, outlook and browser. Spend some time setting up you quick-access formats in whatever excel plugin your firm uses (eg FactSet, CapIQ, Macabacus, Turbo etc) -Left-hand mousing - allows quick access to the keypad if you need to use mouse. -Learn proper typing technique to increase your typing speed >100wpm and invest in a mechanical keyboard -Save commonly used chart formats down as custom templates -Maintain control over your inbox with a good foldering system. My method is using the inbox as a triage folder.. anything that I can't immediately answer goes straight to archive, things that need more time go to actions folder, otherwise respond straight away. News emails automatically filed in a reading folder. Also your view settings in outlook are key. Just find whatever works through experimentation -Keep your emails sharp and to the point
Those with few years' experience likely have template slides and models for everything. After a while it all just becomes second nature. Their drafting is probably quick and professional first time too. So spending less time mulling over wording, the best form of response, mapping out slides, formatting etc. Some will pick it up quicker than others, but there's no substitute for time at the desk unfortunately.
I think the typing speed comment is a little much but I get the point. You’re not a scribe, you’ll save minimal type.
Also I hate people who brought their own keyboards in, big time nerd move. Just sit back and understand the optics of that to senior people, you’ll pigeonhole yourself into a stereotype.
Worst case, you get typecast as a nerd in what is an intellectual profession. Best case, seniors don't give two fucks about what keyboard you're using, if they can even tell the difference. Maybe you should check your own optics.
You're THAT GUY clicking away loud as hell with a cherry switch keyboard in the office???
One recommendation is, to the extent possible, don’t start from scratch. Many time there has been similar work done that you can use as a base which will get you ahead. But with that, spend extra time reviewing so there’s no holdovers.
This is the cause of the bankerism don’t reinvent the wheel.
Find out if your firm (when you start full time) has some sort of junior banker workflow/innovation committee or task force. Most of them do these days. Ask the members what the most commonly cited pain points or inefficiencies are and get a jump start on avoiding them or figuring out workarounds.
You're going to discover them one way or the other. Better earlier than some day when you've got a 10 minute task and 5 minutes to complete it.
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