Introduction 

In the fast-paced world of investment banking, landing a job often requires more than a stellar academic record and a knack for crunching numbers. While a strong foundation in finance and analytics is undoubtedly crucial, the scope of skills that investment banks seek in potential employees is evolving. Here, we delve into some less-considered, yet essential, skills that can give you a competitive edge in the investment banking recruitment landscape. 

Programming and Data Analysis 

While you might not be writing software, understanding basic programming languages like Python or R can be a game-changer. Investment bankers are increasingly required to manipulate and analyse large data sets. A banker who can write a script to automate financial modelling or extract insights from big data is an asset to any firm. 

Example: 

Goldman Sachs' Marcus division now leans heavily on data analytics to evaluate loan risks and investment strategies. Having a team adept in data manipulation can provide quicker, more accurate market analyses, which, in turn, can lead to more informed investment decisions. 

Emotional Intelligence 

In a field that often requires long hours and high-pressure situations, emotional intelligence is invaluable. Being able to manage one’s emotions and navigate interpersonal relationships effectively is crucial, especially when client management is involved. 

Example: 

JP Morgan Chase emphasises the importance of "soft skills," and even uses psychometric testing to evaluate candidates' emotional intelligence. A banker who can tactfully manage a client's disappointment or negotiate tricky mergers will not only sustain but potentially elevate their client relationships. 

Presentation and Storytelling 

Investment bankers frequently find themselves in the position of having to sell complex financial products or strategies to clients. The ability to break down complicated issues into digestible, compelling narratives can make or break a deal. 

Example: 

Morgan Stanley often hosts internal "Pitch Days," where bankers present investment strategies to a panel. Those who can narrate a compelling story around market trends and financial prospects often find their strategies more readily adopted. 

Project Management Skills 

Balancing multiple high-stakes deals, each with their deadlines, demands a high level of organisational ability. Project management skills like time management, delegation, and the efficient allocation of resources can differentiate you from the pack. 

Example: 

Bank of America's Global Banking and Markets division allocates resources and timelines using project management software. Understanding how to use these tools, or having a certification in project management, can set a candidate apart in the recruitment process. 

Cross-cultural Communication 

Investment banking is an increasingly global industry. Being culturally sensitive and having a general understanding of international markets and business customs can be extremely advantageous. 

Example: 

Citibank, with its global operations, actively seeks candidates who are multilingual and have international experience. Their Global Consumer Banking unit often deals with markets as varied as those in Asia, Europe, and North America, and places a premium on cultural fluency. 

Ethical and Regulatory Awareness 

With the increasing scrutiny on the financial sector, a comprehensive understanding of ethical considerations and regulatory constraints is essential. 

Example: 

After the 2008 financial crisis, Wells Fargo implemented comprehensive ethics and compliance training. Candidates who are well-versed in these areas can proactively manage risks, thereby becoming invaluable to their employers. 

Conclusion 

The landscape of investment banking is more multifaceted than ever, with a growing emphasis on diverse skills that go beyond traditional financial analysis. Upskilling in areas like programming, emotional intelligence, and cross-cultural communication not only makes you more marketable but also equips you to navigate the complexities of modern investment banking more effectively. So, as you prepare to break into this competitive industry, don't overlook these skills you didn't know you needed. 

How can Circle Square Help? 

Here at Circle Square, we know our clients extremely well so, we are able to advise you on the skills that are most important to them. This allows you to tailor your application for positions and thus, increases your chances at securing your dream role. To find out how we can help you, please call us on 020749 20705.