Three Traits Every Young Wall Streeter Should Have Before They're 30
Jeffrey Solomon, CEO of Cowen and Company, a New York City-based investment bank, moved to the city to eventually be an actor, but after a few years in banking he was hooked on Wall Street.
In a recent interview with finance career site OneWire, Solomon explains that it was his time working on internal corporate finance at Sherson Lehman that gave him the bug. He realized he loved the inner workings of the business and started to build his own ideas about how to make it work.
He told OneWire founder Skiddy von Stade that young people should spend a decade or so figuring out what really makes them tick at work - what makes them happy.
Once they do that, it's time to evaluate what skills they have. Solomon said that to succeed at his firm, successful bankers need to have developed three traits. The first is about knowing themselves.
"One, you have to have vision," he said. "You have to know how you're independent personal franchise can impact our franchise in a positive way."
Then there's the ability to make that vision a reality.
"Second, tenacity. It may sound obvious, but you'd be surprised. Sometimes people work in large organizations and the organization gives them so much that they lose the edge to create business because it's there for the taking."
Lastly, Solomon said that bankers at Cowen have to be able to step outside of their own shoes and understand other people.
"My big thing about what's happened on the Street is that somewhere over the last 30 years people forgot that this is a business about people, it's the interactions of those people that make the organization," said Solomon. "So while we're going to try to win business and we define success by revenue growth and serving our clients. It's important to know that we're only successful if the interactions of our people with one another are empathetic in nature."
So start working on that.
Watch the full interview below and subscribe to the OneWire's Open Door interview series:
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