What a Professional at a Bank Wishes They Had Known Before Entering The Finance Industry
Nobuaki, a career professional at a large bank, wishes they had known earlier in their career that "you always have to talk to the head or the most important person and make a pitch," as deals are contingent on securing buy-in from top leadership, even after successfully pitching to lower-level managers. This insight, particularly relevant to Japanese business culture, could have significantly improved Nobuaki's deal-making success in corporate advisory.
Communication, Networking, Executive/Leadership, Industry Realities, Negotiation
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Nobuaki Hirata
Non specific title
Large Bank
Keio University in year 2016
Keio University, Master of Science and Engineering
Computer Science
Finance (Banking, Fintech, Investing)
Finance
International Student
Video Highlights
1. It is crucial to pitch directly to the most senior decision-makers (e.g., CEOs) to ensure deals are approved, even if lower-level managers are initially involved.
2. Directly engaging the most senior decision-makers early in the process can significantly increase the likelihood of deal success.
3. This approach is particularly relevant in Japanese business culture, highlighting the importance of understanding cultural nuances in deal-making.
Transcript
But if you learned about this role, what do you wish someone would have told you before you entered the industry?
This might be more Japanese-specific, but when we start talking about deals with companies, we begin with the managers, those lower in the company than the CEO or boss. You make a pitch to the managers, and they might say, "Yes, we'll do this deal."
Then, eventually, the CEO or boss gets involved. If they think it's a good deal, they'll approve it. You always have to talk to the head or the most important person and make your pitch.
Even if you make a great pitch and a great deal with a manager, it means nothing unless the CEO or those in charge officially agree to the deal. So, it's important to talk to the most important person first.
I think if I had known this beforehand, I could have made more deals when I was in corporate advisory.
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