Investment Bankers, Know Thyself
By BankersBall on Apr 25, 2008 in Cube Life, Exit Strategy, Hedge Funds, Job Hunting, Private Equity
An ex-investment banker encourages some introspection.
For those of you laid off masses, Jonathan Knee, (ex investment banker and author of the Accidental Investment Banker) feels it’s time for a little “Ommmmm”, a little introspection. (We correct ourselves, Knee is still an investment banker — he’s a senior managing director at Evercore)
Says Knee, it’s time to ask yourself, “Must I bank?”
“This kind of profound introspection is rarely undertaken by those young professionals who march off to investment banking careers … Such introspection, even if it comes late in life, can lead to greater fulfillment than scrambling for the next best investment banking job that might still be available,” says Knee.
But before you run off and start a farm in upstate NY, start simple. Figure out the core characteristics of the jobby job you supposedly want to do.
“When business-school students announce that they have narrowed down their career focus to investment banking, private equity or a high-growth start-up company … they have not narrowed their options down at all. These three kinds of jobs are all distinct categories of occupations.”
As the OrigHeeb would say, “True dat!” Now, figure out if you are a loner, or if you are the type of person that thrives from slogans like “always be closing.”
“Like all service professions, investment banking is fundamentally a sales job. Individuals who feed on human interaction, and have natural empathy (sales is about putting yourself in your customer’s shoes), do well in sales. Being good with numbers, often assumed to be the key to banking success, will be of little use in getting a big office with a view if you do not have sales aptitude.
Private equity, like hedge funds and other investing jobs, is essentially analytical. These are solitary professions, and one is judged on the quality of the analysis produced. The quality of this analysis is in turn assessed on highly quantifiable metrics – like whether the stock you recommended went up or if the investment in a private company you sponsored turned out well. If the classic sales person is a deeply social being, the typical analytical person is a bit of a loner.”
Ommmmmmmmm.


On Apr 25, 2008, Ravi said:
John Knee is still a banker. He works for a boutique now.
On Apr 25, 2008, yo said:
no shit sherlock:
“Knee is still an investment banker — he’s a senior managing director at Evercore”
On Apr 28, 2008, uhhh said:
its “ohm,” not “omm.” looks like you do a lot of meditating..
On Jun 1, 2008, om shanti said:
no, it’s “om”, you fool…the author is just dragging out the m’s……..