Guest comment: Sponsor me
Sally Harris, a consultant at management consultancy Molten Group, says how to go about getting someone senior on your side.
Success in investment banking isn't only about results. Ambitious employees focus on two areas - their commercial contribution and how they are perceived by senior players and decision makers.
You can be the best producer in the world, but if you don't manage this second component properly your career won't progress as quickly as it should. Banks are aware of this - many run 'talent' programmes' for their top performers. A key aspect of these programmes is the deliberate use of senior managing directors to sponsor and mentor rising stars.
But what do you do if you're not identified as a rising star, or your organisation doesn't have a formal mentoring programme in place? In this instance, it's up to individuals to take their own initiative in managing their 'personal brand' - go out and find a senior sponsor yourself.
With front-office investment banking staff (corporate financiers, sales people and traders) invariably busy, identifying a potential champion and mentor - and then persuading them to give up the time to help you - is likely to be a challenge. Here are some tips on how to do it.
Identifying a sponsor
· It is critical they're someone with credibility in the business and direct influence over your career path.
· In most cases they are likely to be in the same business unit, but not your direct line manager.
· There may be a natural link to your sponsor because they were either involved in bringing you into the organisation, or you work closely with them day-to-day.
· For the sponsor to be effective in helping to raise your profile, it is essential that they know you well, understand your working style, and are linked into your organisational network.
· It should be someone you can trust and ideally someone whose own career will benefit from sponsoring you.
· Before you approach a potential sponsor, consider what's in it for them; how will acting as your sponsor contribute to their profile and professional goals?
Understanding what to confide in sponsors is slightly less straightforward. On the one hand you need their support and want to utilise their experience, but at the same time remember it's important to maintain a positive perception of you and your suitability for progression.
When your sponsor leaves
· If your sponsor leaves you need to quickly align with another who will leverage the strengths of the previous relationship.
· Ideally, before they exit, work together to consider alternative sponsors that exist in their network and get them to facilitate a handover or introduction.
The investment banking industry is characterised by individuals looking out for themselves. You need to manage actively how you are perceived and be clear about the progress you want to make. If you are going to succeed it is up to you not others!