10 Things I Learned in my First Job out of College in Investment Banking

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It is truly crazy that my two years in banking has come to an end. It has definitely been a crazy experience filled with surreal adventures and memories. Thinking back, I do think banking was the right place for me to jump start my career. Banking has challenged and pushed me to my limits. Banking has also made me realize what I look for in a job and what I want in a career. For that, I will always be grateful. I was also very lucky that I met some of the most amazing colleagues who cared for me both professionally and personally. I do feel very blessed.

In the spirit of mentorship, here are some of the things that I wish I knew and things that I learned during my first job.

1. Work hard from the start and invest in relationships early because things compound

This may be one of the most important things I learned in banking: doing everything right from Day 1 is essential to setting yourself up for success. The wonderful thing about doing all the RIGHT things EARLY is that everything compounds. If your team trusts you from the start, that trust is only going to grow. Remember, once trust is broken it is hard to rebuild. If you take on a lot of deals and learn a lot from the beginning, your knowledge is going to build on itself; if you create a good reputation for yourself from the start, that reputation is going to spread further and wider (people talk… a lot!). People usually determine if they like you or want to work with you within a couple interactions, so working hard and putting in the hours at the start will make your life so much easier in the long run. When you first start, always put your hands up for projects; offer to help with tasks; plug into your team and invest the hours.

2. If you want something, ask for it. If you don’t ask, you will never know

This is the real world. No one is going to baby you. No one is going to check in with you to make sure you are getting everything you need. No one can read your mind (let’s be honest… no one is going to spend the time to try and read your mind) which is why you need to advocate for yourself. If you want a new project, if you want a new team, if you want more feedback from your manager, if you want to push back your start date, if you want a higher starting salary, just ask tactfully and respectfully. My mantra has been if you don’t ask, you will never know. There are a lot of foregone value and opportunities simply because we assume that people know what we want. Be vocal!

3. Own and voice your accomplishment! Take credit!

You need to fight for credit where credit is due. If you built the model, own it. If you came up with a framework for the client presentation, claim it. You need to let other people know what you did. You don’t have to do it aggressively but simply state the facts of what you have done and then give credit to others for their part of the contribution. If you remain silent, others will always step in and claim your work for themselves. Remember If no one knows it was you, they can’t reward you.

4. Build your accomplishment folder!

Every company has some sort of performance review. You need to fight for yourself in those reviews because no one has a better narrative of what you have accomplished at work than yourself. Throughout the year, create a folder including records of every single time that you have gotten commended on and complimented by a Superior on a job well done. It could be an email, screenshot of a Teams chat or a summary of an in-person meeting. This is a documentation of one, what you have done for the team and two, how others perceived your work. Many people end up having a hard time coming up with good examples for their performance review. Having an accomplishment folder helps you document and speak to your successes. It gives concrete evidence of how you have been performing.

5. Ask questions tactfully and know what you don’t know

Knowing when and how to ask questions is important. It starts with the obvious… If you can Google it or ask peers, don’t bother your superiors. When you first start your job / internship, there is a 3–4 month grace period where everyone understands that you are new and allows you to ask “stupid” questions. However, once you are past that, you need to be very tactful about how and when you ask questions. Asking good questions means that you understand the task given and want to do the task to the best of your abilities. When you are given a task, ALWAYS ask for a precedent or a previously well-done example. People hate it when you ask questions without at least you putting in some effort. So when you ask a question, it is important to signal that you have spent time thinking about it and only when you couldn’t figure it out that you would like their expertise. “I looked in X, Y, Z reports but couldn’t find …” “I started building the model and referenced the example model from another project but got stuck here ….” (NEVER delete the work that provides evidence that you tried!). Finally, don’t ask one-off questions. Nothing worse than someone asking one question every two minutes. Read and think through the entire task and then compile a list of questions. Knowing how and when to ask questions is truly an art form :)

6. Always ask for feedback and ask for it proactively

There are formal review structures set in place but sometimes six months is just too long. If you have something that needs to be improved, you would rather that gets communicated to you early on and NOT during your formal review. Asking your manager to set up monthly meetings is a great way for you to checkin and get an idea of your performance / how your manager feels about you. That way there is time for you to fix anything that can be improved before the actual review. In addition, signaling is a powerful tool in corporate America. Asking for feedback is a signal that you care about this job, your team and that you want to better yourself. All good things!

7. Learn when and how to say no

I have talked extensively about the art of saying no / how and when to say no (click here if you missed it). Saying no is a basic form of self-respect, self-protection and self-worth. Saying no in a positive manner builds you up because you have more energy and time for things you actually care about. In an industry where you are expected to drop everything to do the task at hand, it is important to establish your boundaries. Not signaling your boundaries to people around you will leave you spiraling and feeling drained.

8. Build your support ecosystem

I cannot stress this enough. You CANNOT do it all alone. Sometimes when people say support system they think of one or two people but when I say support system, I am talking about your whole support ECOSYSTEM. You should have people to go to in all aspects of your life. You are working a tough job. Having a good support ecosystem means that you can have a safe space to process emotions and struggles. Who are the people you go to for job advice? Who are the people you go to when your hinge date ghosts you? Who are the people you go to when you need to rant about your day? I highly recommend actually asking yourself who are the people you go to for different areas of your life like family, love life, work and professional development. Write this down and think about which areas are lacking. Which are the areas that you need more support? Be there for other people and they will be there for you too!

9. Be human and kind

Oftentimes in demanding jobs the human element becomes a second thought. If you know your coworker took a sick day, ask how they are doing and offer to take anything off their plate. I went on vacation in Italy this past summer. One of my associates sent me a list of his favorite books to read on flights. These things matter because they make you feel cared for. You want to be a great person to be around. Your team will notice that you are just a great team player.

10. Take care of yourself and don’t burn out at your first job

The worst thing you can do for yourself is burnout in you 20s. (Read this edition for how to prevent burnout). Self-care helps you manage stress. Remember self-care means different things to different people. Self-care for me means taking Sunday morning off to do nothing. It means going to Pilates class and then making my favorite Trader Joe’s meal. For some people, it’s going on a walk. For others. It’s going to the gym. Have a handy list of what you love to do and what gives your serotonin. This job can be a lot but remember you will always come first.

Navigating your first job especially a job like banking is hard but remember, go easy on yourself. You are young and guess what, you will make mistakes but the most important thing is learning from that mistake and moving on! I am still learning and working on myself. It is a life long journey.

This article is a snippet of the monthly Newsletter from The Perspective. Subscribe for more and join an incredible community of women and allies. Through every monthly newsletter, we will work through all the challenges we face from navigating office politics to taking care of ourselves physically and mentally while working a demanding job.