If you want to succeed in the finance industry, you need to have these attributes.
Amongst the most essential traits you can have in the business world, but specifically in the financial sector, is to be determined and tough. The nature of the industry suggests setbacks are common; there are very few individuals, if any, that have had a long career without having some sort of hurdle to tackle. Not only is this attribute vital in overcoming obstacles, it is beneficial because there are long working hours that are full of busy schedules. As numerous individuals wish to work in finance, you must keep up a high work ethic to fend off possible replacements. The compensation for the demanding work load is generous pay and numerous other perks. With this sort of pay, people can retire very early, such as JP Livingston, who retired at 28 following a short yet successful career in finance. This choice is not for everyone, with so many investment bankers working at financial institutions well into their 70’s, but it is surely a tempting possibility.
Finance and investment are all about trust building and persuading individuals that you are more dependable than your competition. The financial market is highly competitive, therefore convincing customers you are their best choice is crucial. To do this one needs to have good people skills, whilst also being aware of possible bad clients. It helps to be charismatic without being overly arrogant, as a way to instil confidence but not so much that they believe you are not careful in your decision making. Having traits like these are what would have helped somebody like Thom Weisel have such a effective career; investing and drawing investment is down to developing successful connections.
As financial services are an field that centers around analytics and reacting to changes, having a strong intellect is critical to success. Specifically, people must have strong mathematical capabilities with an emphasis on studying mathematical trends and data. To be successful you require a real knack for discovering issues or anomalies in any set of information, and this takes a sharp eye for detail. Naturally, the most capable financiers come from a mathematical background, where they would have mastered something like maths, economics, or accounting at their universities or colleges. There are a lot of examples of individuals who do not study number-based degrees who become successful in the financial services industry; all that is needed to be a strong candidate for a leading investment company, is that you have good analytical skill and a fantastic work ethic. An instance of the kind of work ethic you need is from Lars Windhorst, who started his first business when he was at school. While this is very rare, it is the level of dedication one should aim for to become successful in the investment world.