Actual Skill involved?
I have been thinking of ways to differentiate myself from the hordes of applicants. What skillset will make any MD/Partner/Portfolio Manager in IB, PE, HF, AM etc. salivate? It appears that there is not a defined skillset one can acquire to standout from the crowd with the exception of mathematical and programming abilities for quantitate hedge funds. Does this lack of a knowledge barrier contribute to prestige playing a larger part in recruiting? In contrast to engineering, tech firms, and quant funds where there are higher knowledge barriers which will thin the applicant stack and give way to a more meritocratic process of recruitment. Love to hear what others think.
@IlliniProgrammer" @APAE" @thebrofessor" @BlackHat" @DickFuld" @Naoki Hanzawa" @CompBanker" @Going Concern" @Sil" @Layne Staley" @Dingdong08" @AndyLouis" @In The Flesh" @Prescott Moncrief lll" @alpha_q" @SSits" @Mr. Pink Money" @mrharveyspecter" @Matrick" @Kenny_Powers_CFA" @Cruncharoo" @AllDay_028" @Attack_Chihuahua" @monty09" @SanityCheck" @MonacoMonkey"
If I have to pick only one skill: Make It Rain (Bring in Money for the Firm)
What differentiates rainmakers and non rainmakers. Preciously what enables rainmakers to generate income? In deal based finance(IB/PE) do relationships play a major role in success thus being able to form relationships is key to success? I am guessing that valuation isn't the main service investment banking offers, but rather brokerage of companies/securities is what clients of these banks seek.
You mean "precisely" right? - spelling error - lack of attention to detail - ding.
What enable rainmakers to generate income? If you don't have the critical thinking skills to think it through yourself - your career is going to be a major problem.
Valuation isn't the main service? Where is this coming from?
Brokerage of Companies - you mean like M&A?
Brokerage of Securities - you mean like Sales & Trading?
If you want to be a good banker, you shouldn't rumble stuffs like this.
Unlikely you'll be able to truly differentiate at the junior level. In the context of the universe of real candidates for entry level high finance jobs, you'll be more or less a commoditized labor resource.
One thing that's critical is clear communication (sr. guys want to understand what you're saying the first time you say it). To that end, we can't tell what career level you're targeting (Intern, Analyst, Associate?), or where in finance you'd like to end up. IB/PE/HF/AM are all rather different jobs that require materially distinct skills. There isn't a one size fits all answer.
Thanks for the response
I am currently a sophomore with aspirations to eventually become a portfolio manager. It appears that discretionary funds do not require a certain skill set(correct me if I am wrong). The pitch guides on the hedge fund forum show that being able to identify catalysts are what PM value, not exact valuation. In order to identify these catalysts being able to research and piece together information seems to be of the upmost importance. I wonder if having more information that is readily available and more accurate will eventually lead to diminished edge and lackluster profits. Could this possible be an explanation for active management shrinking? Let me know if there is anything I am missing or flaws in my line of thought about hedge fund analyst skillset.
I've never worked at a hedge fund, so I have no fucking clue. That said any HF will require very concrete analytical skills. After all, the job is to analyze markets and investable assets to determine where to put the firm's money.
Looking at your response here, and your sub-thread with Naoki Hanzawa, it's clear that your grasp of how real world finance works is tenuous at best. I strongly suggest getting well versed on the different products IBs/HFs offer clients, and a high level overview of how those products are delivered. Fundamentals have to be solid before you stand out above the crowd.
As others have said, you need both valuation skills and the ability to ID a catalyst. You'd be a dogshit fund manager if you didn't know what your price target (which comes from the valuations/models) is, or when to enter your position (the catalyst).
To your point about active management not doing well recently, that's (IMO) more because of low equity vol and low interest rates. If markets are going straight up with little vol and price dispersion, active funds aren't really able to demonstrate their value add over passive managers. That's just my $0.02 having interacted with a few HF managers and reading their decks/quarterly letters, so I'd be curious to see what the people on here who actually work as HF analysts have to say
lol wot did you just tag MonacoMonkey?
Help us MonacoMonkey you're our only hope!
I agree with Prescott that it's tough at the junior level but one way you can really set yourself apart (assuming all your other skills are on point) is with languages. I've said this before in other posts and it makes me seem bias but the sheer amount of applications i've done and seen where they consistently require languages or say they would be beneficial is nuts. Granted, I'm in Europe so things may be different here but being fluent/business proficient in 3/4 languages is something few people have. Being bilingual is pretty common.
If you want to differentiate yourself at this level, having an interesting story is probably the best way. There are very few tangible skills you can acquire that will make firms actually want you. You're a college student. You know virtually nothing compared to more senior people. You're at the bottom of the corporate ladder, an expendable grunt. Just polish yourself as much as you can and crush your interviews.
Agreed with Buzz_Lightyear . At this stage the best and most unique thing you have to "sell" is your story. Get that human element across on your resume and in person and you will be doing your best.
Have a genuine interest in their industry. If you can hold a conversation with thoughtful questions about recent events in their industry, it will set you apart from 90% of other applicants
Social skills
you need to do the junior job well first. If you cant do the junior job well you wont see the mid and upper tier jobs. Building a skill set is not sexy and generally a lot of work.
all skills bring something
Being likeable. Nobody wants to hire someone they don't want to work with
nothing to add, I'm a 100% commission PWM'er, so I can't help you become an employee. if you have specific questions, lemme know
I want to echo the two posts that talked about being likable/social. There’s a great scene in Mad Men where Roger Sterling lays into Peter and says, “what you don’t understand is that 80% of this business is ‘hey I don’t like that guy!’”
If you want to work at a place like a BB you’re going to be working with a lot of different personalities and reporting to people that have immense pressures on them. Part of your skill is to get along and essentially not be a headache to your superiors. Be on time, meet your deadlines and basically don’t make the people above you have to deal with any BS from you. If you can do that, the people above you will view you as skilled regardless what your resume says.
Most Valuable Skills??? (Originally Posted: 10/24/2012)
So I'll make it quick. Quick about me:
23 years old Current MS Finance Student w/ honors Undergrad Finance & Business Econ w/ honors Series 7 & 66 Licensed, Sales Assistant to retail advisor
I was wondering what skills would be most advantagious to develope and add to my resume before I graduate in 2013. I am looking to get into a PE, HF or Asset Management firm. I am currently in Fairfield County, CT. Started to learn Excel VBA/Macros to enhance my resume. Not sure what segment of these firms I would like to focus in, maybe an operations position would suite me best. Any ideas on what would make me a miore atrractive candidate?
Don't really understand why people apply to both PE and HFs. You either swing one way, or the other.
I'm new to the field and don't have much experience. I just know that I do not wish to follow the path of a retail financial advisor. Are there any similar skill sets / technical skills that both would look for in an entry level junior role?
I have a strong feeling you're getting a MSF for the wrong reason.
and its not even your birthday
BTbanker: What reason would that be?
learn to program. Python, C#, MATLAB. An analyst in AM that can't program (beyond VBA) will have a VERY hard time.
Why is that so? I tot only traders need to know how to program and not analysts?
Certifications and skills employers look for? (Originally Posted: 06/24/2011)
I was just curious to know what skills and certifications hedge funds, Asset Management, equity research, etc. look for in a potential candidate. It doesn't necessarily have to be a certificate, but could be a skill such as SQL. Any particular skills that stand out on a resume? I am trying to learn as much as I can that would benefit me.
CPR, Concealed Carry, CDL & make sure you have your alcohol license up to date. That should take care of everything important
I know asset management firms definitely value the CFA. I believe you can take Level I as a student.
What skills help getting a job? (Originally Posted: 08/21/2011)
I am a recent graduate pursuing a career in finance (ib, investment management, financial/business analyst) and I was wondering what I could do to improve myself as a better candidate. Any knowledge or skills that I can pick up or study on my own that would appeal to the employers? Like programming skill that isn't too complicated so I could study on my own? Any advice would really be appreciated. Thank you!
.
Become a whiz with Excel and pick up a self-study financial modeling course
Better marks. Better technical knowledge (learn financial modelling via self-study [WSP, TTS, BIWS etc.]) Better communication/writing skills. Better networking skills (sorta tied into to point before)
Take your pick. It's not rocket science.
And please for the love of God, don't get useless certifications for the sake of getting a job; they won't help you.
Penis enlargement
bump
Best degrees/skills (Originally Posted: 02/22/2016)
So what skills are the best for management consulting? I want to work for BCG or big 4
ability to refrain from asking others to google answers for you.
Relevant skills ? (Originally Posted: 05/06/2018)
Do you guys have any relevant skills that I should develop if I wanna go to IB then the BS? I'm pretty passionate to the markets and going into finance and was wondering if any of you know any skills that I can develop that I won't learn at school and will help me on the job or school? Any books, articles, videos will help thanks
Next time you have a question for a buddy or you want to make plans, pick up the phone and call, don't text. It's crazy how much better VP/MD level employees are at speaking over the phone than people at the analyst level (myself included). I think it stems from our generation only ever texting, but still quite crazy
Worthwhile skills to learn? (Originally Posted: 08/05/2010)
I am a recent graduate from VT with a B.S. in Finance, and am considering learning some stuff on my own. Anyone have any advice what skills I should try to learn?
Computerwize (programs, modeling, etc...)
Any suggestions on how to go about learning, books? local classes?
thanks to all,
Alex
I find it's best to learn Bloomberg hands on. If you can get access to a terminal, that should help.
+1 for the Bloomberg.
In the meantime, you really need to spend the remainder of your summer learning to have fun. IE: take the Motorcycle Safety Foundation's Basic Rider Course and get yourself a Ninja 250.
Are my skills enough (Originally Posted: 06/02/2012)
Hey,
Im currently doing my third year in BA economics and financial management, with a minor in either math or mathematical finance. I am mostly taking my econ electives in econometrics, (with my most senior course being in time series analysis) as I find it interesting, Could anyone tell me how much would this skill set help me if I were to enter the Investment banking industry?
Thanks
What you have is good enough, just spend more time networking.
Computer skills ? and ^^^ its all about networking at this point
Relevant skills (Originally Posted: 07/02/2012)
This summer I would like to learn some skills that are relevant to banking, trading, or finance in general. I am not sure of what skills I should aim to learn, so I am looking for suggestions. Possibly become familiar with Thomson One, Bloomberg Terminal or learn a programming language? Any suggestions are appreciated. Thanks in advance.
All that stuff is easy. Don't study some baby IB, corporate finance book. Those never helped me understand anything actually useful in the office. Usually there's too much theory and abstractions.
Figure out what type of financings are trending recently and why. How do you analyze an M&A deal? What about a restructuring? How do you know a company is a good M&A, IPO candidate?
Try to come up with stock pitches and profitable trading ideas. Where do you think S&P, Barclays, and MSCI will be next year? What about the top economic variables? and how do you arrange a trade to profit off of those forecasts?
Be familiar with the most important companies. Pick an industry you like and understand the dynamics. What makes that industry better/worse than others?
Which countries are most important to the economy and why? What is the buildup of their economy? what are the natural resources there? What happened in the great depression? Credit Crisis? Ongoing debt crisis?
You can't answer all of these but if you like finance you should love trying to answer this kinda shit
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