Canary Wharfian
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In the ever-evolving world of finance and investment banking, carving out a unique career path can seem daunting, yet rewarding. Today, on Canary Wharfian, we sit down with a finance professional who has done just that, openly sharing insights and experiences that shed light on the demanding yet exciting world of finance.
A Passion for Numbers and Strategy
Beginning with a solid educational foundation, our guest studied economics and finance at Bocconi University. From the beginning of their higher education, internships played a pivotal role, with initial experiences at Credit Suisse, followed by various summer internships. The journey through spring weeks and off-cycle roles eventually led to a full-time position at a prestigious bulge-bracket bank.
Described as a significant "ride", it was filled with learning and growth. However, after two and a half years, the crave for a more hands-on, operationally strategic role became irresistible and made the jump. This meant a finance and strategy position within a scale-up, where the team consisted of ex-investment bankers and management consultants and a change from the grueling hours of traditional banking.
The Long Hours of Investment Banking
One of the most common concerns among aspiring finance professionals is the notorious long hours associated with investment banking. Addressing this, our guest offers a candid perspective. The hours, often stretching to 19 or 20 within a day, can be relentless. While some improvements have been noted in recent years, the industry still requires a steadfast commitment.
The transition from internship to full-time work played a significant role in understanding the demanding nature of the job. During internships, the novelty made the long hours seem more manageable. However, full-time work revealed a different mindset. Understanding personal and career goals, as well as limits and knowing what you aim to gain from such an intense experience is important.
Career Trajectories and Personal Wellbeing
The investment banking industry is known for its standard career paths, often leading from banking to private equity. However, breaking away from this mold, as our guest did, can lead to a more fulfilling and balanced career. While some peers headed towards private equity, others, like our guest, ventured into more unconventional roles.
Discussing longevity in investment banking, our guest observes that although many colleagues remained in the field, stepping into roles that allow for better work-life balance is increasingly common. For those who stay, the job evolves. Higher positions offer reduced hands-on hours but come with increased responsibilities and pressure.
The Impact of AI and Automation
The influence of artificial intelligence on finance is undeniable. AI can streamline menial tasks, like data handling. However, our guest believes it won't necessarily reduce overall working hours in investment banking. In fact, AI could lead to increased workloads. Essentially, time saved will be filled with new tasks, maintaining the high-pressure environment characteristic of the field as competition for business is fierce.
Advice for Aspiring Bankers
For young aspirants eyeing a career in investment banking, our guest provides practical advice. Starting early with internships, networking, and persistence are highlighted as crucial steps. The evolving nature of the industry opens numerous pathways, making varied experience and networking of outmost importance.
Know When to Stay or Move On
An essential aspect of any career is knowing when it's time for a change. Our guest recalls grappling with this in investment banking, balancing career aspirations with personal health. The advice is simple yet profound: evaluate your long-term goals and whether they align with your current role. If your job is affecting your mental health, it may be time to explore other opportunities.
In Conclusion
Our guest’s journey in finance underscores the importance of aligning career paths with personal aspirations and well-being. As they continue to navigate the dynamic realm of finance and strategy, their story offers inspiration for those considering a career in this challenging yet rewarding field.
We thank our guest for sharing their insightful experiences with us on Canary Wharfian and wish them continued success in their evolving career journey.
A Passion for Numbers and Strategy
Beginning with a solid educational foundation, our guest studied economics and finance at Bocconi University. From the beginning of their higher education, internships played a pivotal role, with initial experiences at Credit Suisse, followed by various summer internships. The journey through spring weeks and off-cycle roles eventually led to a full-time position at a prestigious bulge-bracket bank.
Described as a significant "ride", it was filled with learning and growth. However, after two and a half years, the crave for a more hands-on, operationally strategic role became irresistible and made the jump. This meant a finance and strategy position within a scale-up, where the team consisted of ex-investment bankers and management consultants and a change from the grueling hours of traditional banking.
The Long Hours of Investment Banking
One of the most common concerns among aspiring finance professionals is the notorious long hours associated with investment banking. Addressing this, our guest offers a candid perspective. The hours, often stretching to 19 or 20 within a day, can be relentless. While some improvements have been noted in recent years, the industry still requires a steadfast commitment.
The transition from internship to full-time work played a significant role in understanding the demanding nature of the job. During internships, the novelty made the long hours seem more manageable. However, full-time work revealed a different mindset. Understanding personal and career goals, as well as limits and knowing what you aim to gain from such an intense experience is important.
Career Trajectories and Personal Wellbeing
The investment banking industry is known for its standard career paths, often leading from banking to private equity. However, breaking away from this mold, as our guest did, can lead to a more fulfilling and balanced career. While some peers headed towards private equity, others, like our guest, ventured into more unconventional roles.
Discussing longevity in investment banking, our guest observes that although many colleagues remained in the field, stepping into roles that allow for better work-life balance is increasingly common. For those who stay, the job evolves. Higher positions offer reduced hands-on hours but come with increased responsibilities and pressure.
The Impact of AI and Automation
The influence of artificial intelligence on finance is undeniable. AI can streamline menial tasks, like data handling. However, our guest believes it won't necessarily reduce overall working hours in investment banking. In fact, AI could lead to increased workloads. Essentially, time saved will be filled with new tasks, maintaining the high-pressure environment characteristic of the field as competition for business is fierce.
Advice for Aspiring Bankers
For young aspirants eyeing a career in investment banking, our guest provides practical advice. Starting early with internships, networking, and persistence are highlighted as crucial steps. The evolving nature of the industry opens numerous pathways, making varied experience and networking of outmost importance.
Know When to Stay or Move On
An essential aspect of any career is knowing when it's time for a change. Our guest recalls grappling with this in investment banking, balancing career aspirations with personal health. The advice is simple yet profound: evaluate your long-term goals and whether they align with your current role. If your job is affecting your mental health, it may be time to explore other opportunities.
In Conclusion
Our guest’s journey in finance underscores the importance of aligning career paths with personal aspirations and well-being. As they continue to navigate the dynamic realm of finance and strategy, their story offers inspiration for those considering a career in this challenging yet rewarding field.
We thank our guest for sharing their insightful experiences with us on Canary Wharfian and wish them continued success in their evolving career journey.
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