what I have noticed over the years is that at any given time in anyones career there is usually one skill holding them back. Something like confidence, communication, ‘impactfulness’, tackling transitions etc. So whilst there is some sequencing to the order of importance of these skills that correlates with seniority, it is best to try and work out which one specifically is your biggest bottleneck preventing you from reaching the next level. Across the first ten years of my career this was the order of the skills I needed to keep progressing.
Building a foundation
Learning transitions
Mastering Execution
Understanding Impact
Building my Brand
Calibrating my confidence
Clarifying my communication
developing resilience
Taking ownership
Working on my leadership
Reading this is there one that stands out the most for you right now?
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Hi Meva, thanks for reaching out. What do you trade?
The evaluation of a trader is one of the more straightforward positions within a bank and yet it is still somewhat nuanced. Naturally there is overall PnL as the starting point. At a bank there will be a rough idea of a payout ratio, but nothing concrete. From there, management will assess other elements of performance, like client order facilitation and subsequent ranking metrics. It should be added that banks tend to have a very clear idea of the ‘value of the seat’… which is a concept built around the idea that if you had a robot running the book, how much profit would it organically kick off. Performance bonuses will be much higher if you significantly outperform this 'value of the seat.’
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Hi, James – How much emphasis do big banks put on hiring based on merit compared to based on referral?
Thank you.
Dhruvil
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