What Type Of Person Thrives In The Investment Banking Industry According To A Managing Director At Qualia Legacy Advisors
Aaron, a Managing Director at Qualia Legacy Advisors, notes the surprising "fragile nature of transactions," emphasizing that deals "can fall apart" and requiring persistence ("stick-to-it-ness") to succeed. The reality is that closing deals takes significantly longer than anticipated, with unforeseen complications frequently arising—a crucial lesson for aspiring investment bankers.
Industry Realities, Overcoming Challenges, Resilience, Achieving Goals, Practical
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
aaron meyerson
Managing Director
Qualia legacy Advisors
UC Berkeley
Stanford MBA
Economics
Arts, Entertainment & Media, Finance (Banking, Fintech, Investing)
Finance
None Applicable
Video Highlights
1. The dealmaking process is often fragile, and transactions can fall apart unexpectedly.
2. It's crucial to have multiple deals in progress simultaneously to compensate for potential failures.
3. Closing deals takes longer and is more complicated than initially anticipated; persistence is key to success.
Transcript
What have you learned about this role that you wish someone would have told you before entering this industry?
The fragile nature of transactions means deals can fall apart. You have to be prepared for that and have enough irons in the fire.
Knowing that some deals won't make it to the finish line, you need stick-to-it-iveness to get them closed. It's really satisfying to finalize a deal.
However, you have to realize that deals generally don't happen as quickly as you expect. They tend to take longer and always come with complications.
I don't know if I had a complete appreciation for that going into it. But it's definitely something anyone going into investment banking, or the deal business in general, should be aware of.