The Graduate: What I've learnt after two months in an investment bank (hint, it's been intense)
I've been working in an investment bank in Australia for two months, having started on a graduate programme straight out of university. I'd like to share a few insights into what I've experienced and discovered so far.
My first week was intense to say the least. There were no shortages of social events to attend and during this period I must have been introduced to hundreds of people from different areas of the bank. I ended up forgetting so many names that I had to start putting them into my phone. I made a special effort to build friendships with many of the other grads, especially those outside my division.
Hold onto your friends
Having kept in touch with my peers past the induction period, we have been able to exchange parcels of critical information we've picked up along the way. I've learned more about the bank through these early friendships than by any other means.
One of my first observations was that many of my peers had no background in finance whatsoever. Lured by the money, they abandoned their pursuits of law, engineering, arts or science for an industry which is probably overstaffed. While I do think it is a shame to waste years of learning, they will eventually learn everything they need to know on the job. Moreover, our HR department has done a remarkable job matching people's personalities and skills to their roles.
The best thing about starting at the bottom of the food chain is that you can back yourself without fear of failure. Expectations for a rookie are low and can be easily exceeded with the right attitude. My advice is to take every opportunity and gain as much responsibility as you have time for, but don't overcommit. From my brief encounters with bankers, the successful ones are those who are willing to go the extra mile to seal a positive outcome.
Power from your hours
My original hesitation before I started working here was the commitment to long hours. But I have found that adjusting to the working lifestyle is not difficult if you enjoy what you do. Investment banking is hard work and you need to be certain it is for you. Then again, it is also very rewarding because you are given plenty of responsibility from day one. I have been involved in some pretty big deals already where my contribution was influential toward the decision making of my superiors. This definitely gave me a sense of purpose and further fuelled my motivation.
Teachers often say never be afraid to ask a stupid question. Personally, I beg to differ: never ask a stupid question more than once. With so much to take in at first, you are bound to forget much of what you are taught and you will make mistakes. But don't use your newbie status as your excuse - acknowledge your mistakes and quickly rectify them. I have kept a detailed notebook of most processes I've learnt. Forgetting so many little nuances becomes a pain because you have to ask about them again and again.
In investment banking, each person is a cog in the process and is reliant on many other people. In this way the business becomes just as much about human interaction as it is about the bottom line, which is what makes it interesting. Just don't drop the ball. In such a competitive environment others will move in to fill your responsibilities very quickly.
