I’m James Gray, a front office banker with 15 years’ experience working across JPMorgan, Deutsche Bank, Credit Suisse and elsewhere. I’ve also spent the past five years helping young professionals to progress in financial services and beyond.
I’ve worked securitised products in sales and syndicate functions, but can offer advice about broad front office roles. I’ll be here answering your questions intermittently from Thursday 7th to Thursday 14th May. I look forward to hearing from you!
Hi James, thank you for taking the time to do this.
I just wanted to ask - you’ve jumped seats a lot - what is the most important thing you look for when changing? Is it culture, is it comp, is it exit opportunities? Do you have a list of priorities?
Thank you!
This is logistics charges/
Hi James -
Feel like I ask this of everyone who does an AMA, but if you were a fresh-faced graduate again, 21 years of age, where in the world would you move? Where exactly do you think has the most energy right now to tap in to?
Hi! It’s a very fair question, and the truth behind it is somewhat simpler than it may look. Every move I have made has been driven by a decision that was right for me at the time.
DB was money related, I wanted to buy a house and comp that year was 7year deferred cash…
JPM I left out of necessity, I had burnt out and needed to reset. I actually thought my career in finance was over.
CS was due to the sad demise of a great firm, completely out of my control. I expect I would still be there had it not been for archegos.
Then having done what I could at Baird, I left for a great opportunity.
Here is what I will add, I don’t regret a single move. I’ve cherished the opportunity to build businesses across some great platforms and I’ve tried to use every experience to learn.
It’s good to remind yourself that even if you feel like you’ve failed, there is bound to be some growth in that failure. And equally, when you feel like you’re winning, remember that luck will have played its part.
At 21 I was clueless. So working off the assumption that I would still be clueless if I returned to that age, I’m not sure I would focus on where to work, but probably more on what to do for work.
The rate of change today is far higher than what it was in 2010. Add to that the allure of opportunity in this new world of AI backed solo billionaire founders… it makes everything more difficult to commit to.
So if I were a fresh faced 21 year old graduate I would try my best to commit. Commit to something and work at it for three years. Learn it. Try and own it. Then use that knowledge as a spring board for change if you need it.
Agency and autonomy are still largely forged through demand. The more people want you, need you, appreciate what you can do… the more choice you have. That includes geography.
So I guess instead of where, I would focus on what I wanted to commit to. Get good enough at it so that you have more choice.
I “wasted” the first three years of my career being half in, half out.
If I could give my 21-year-old self one piece of advice, it would be this: stop second-guessing the path you’ve already chosen, and commit fully to the future on the other side of the door you already walked through.
Cliché alert 
When you’re hiring junior candidates, what would you say are the main differentiating factors between applicants?
Is it more technical skills, communication/personality, prior experience, networking, or something else that really stands out during the process?
Thanks.
It’s mine ? /
Hi Pablo, it’s always going to be role dependent. But one question I am increasingly asking when speaking to candidates is the following. How do you build trusting relationships quickly? For me it gets to the heart of what modern technology can’t yet compete with.
As knowledge becomes commoditized there is going to be increased emphasis on the human aspects of work. The reason I ask the question about building trust is because I think it’s the most succinct way of assessing how the candidate approaches the most human part of business.
I tend to filter out most of the other characteristics prior to meeting with people, and honestly most people I speak to have been referred by people whose opinion I trust. So in many senses a lot of the bars should have already been met.
Is office politics rampant? If so, how do you navigate through it?
Office politics varies from firm to firm. DB in the 2010s will also be different to how it is today. JPM certainly operated differently to Credit Suisse.
Now, what are we really talking about when it comes to ‘office politics’? I would define it as the ability to understand how to get ahead. Probably not a perfect definition, but it’s a reasonable working assumption. If you are good at office politics, you go further than your talent alone would take you, if you are ‘bad’ at office politics, you don’t go as far as your talent alone might take you. It’s a force amplifier.
So how might you navigate through it? There are two ways, and I have tried and experienced both.
Both are underpinned by the need to understand what is getting people ahead. Use your eyes and ears. Try and understand who is getting promoted and why. Try and build a clear picture of what the stake holders really care about. What drives the perception of success. Not the values they hang above the door. The real values that get you promoted. This is the first half of the battle.
What you do with that knowledge then drives how ‘good’ you can be at office politics. This is where the two versions come in.
The first, and arguably, wrong way to do it is to accept the drivers of success as universally necessary and contort yourself into position where you tick every box. This is great if you can do it authentically, but the truth is almost no one can, or very few can because it asks too much of you in the long run. At JPM I tried too hard to fit the brand of being a perfect, near infallible banker. Slick back hair, the works. BUT, it wasnt me. It got me ahead for a while, got me promoted fast, but I couldn’t sustain it and I burnt out.
At every other place I have worked, I have tried to find areas of common ground. Identify what matters most to stakeholders; clients, managers, team mates etc. And then find the space that allows me to demonstrate that worth without having to sacrifice too much of myself.
Office politics done well is all about operating as much as possible in this zone of resonance. The ability to be authentic to yourself whilst also finding ways to operate in the way the firm cares about gives both longevity and acts as a force amplifier for your work.
Hi James (good name),
I’m in uni now, will be graduating this summer and starting my career in London. Managed to convert my internship last summer and I’m very happy with that , but…
The question I wanted to ask you is - do you have any regrets? Do you ever wish you did something else with your job instead? Or did you feel like finance was always “for you”?
Thank you for your answer to my original question - and sorry if follow up questions are not allowed but I wanted to ask -
How do you deal with stress? I don’t really get much job stress (hours aside, sometimes) but I see my colleagues, bosses etc. completely chock full of cortisol, and this is something I’ve always wanted to avoid, especially as I have more responsibility, seniority.
(I guessed from your hair that you are on top of stress - let me know if I was wrong!)
hahahaha! hair as a leading indicator for stress… Ive had a long journey with trying to find balance. I bottomed out with 1,5yrs of insomnia whilst at JPM. Wasn’t fun. But taught me a lot about how to manage. I think there is a lot to be said about building systems for identifying early warning signs and methods for trying to get ahead of significant deterioration. Truth is, it really boils down to boundaries and setting them up in a way that doesn’t prevent you from being able to actively manage how you approach work on your own terms. It’s very easy to go all in without setting up the right boundaries. It is not about saying just being able to say ‘no’, it’s about recognising when, realising how and being able to articulate why you need assistance or help.
Caveat… hairline preservation is always going to be a little genetic.
hi James, likewise, very blessed on the name front.
I have given a lot of thought to this topic and the only piece of advice I think can be applied generically is as follows. Whatever position you are in, or path you are on, try and do it properly. Commit to it. Figure it out. Learn.
The most consistent part of successful careers is that the people who have them tend to commit fully at some point. It doesn’t have to be your first job, or your first year, but the sooner you feel comfortable committing, the better you become in whatever role you inhabit. Suddenly your career value starts to rise too.
Even if you don’t love your choice, work on broad based soft skills, networking, confidence, execution, transitions, learn to take ownership etc. These are truly transferable and they will give you more choice down the line.
Do I have regrets? No. Genuinely none. Would I do some of the jobs I have done in the past once over… most certainly not.
I have spent more time in therapy than one might like to admit trying to unpick the decision to enter finance. Still working on it. But finance is a wonderful career, especially if you can become good enough to do it on your own terms.
No ! We say jimmy deux fois /
hi, I’m a trader who works remotely. I’d like to know if you’re interested in a stable and profitable trader with 5 years of experience. How is the position of a trader evaluated? I’m looking for hiring options that focus on results rather than theory. Please share your experience. How is the evaluation of a trader conducted in large companies?
Thank you very much for your reply!
Hi James, What is the single most common “blind spot” you see in young front-office professionals today that prevents them from moving from Associate to VP/Director levels?