The financial industry often gets a bad rap, thanks in part to world-shattering events like the 2008 recession. It\u2019s tough for an industry to appear on the up-and-up when a few legacy companies upend the global financial system.<\/p>\n
But not all finance organizations are Lehman Brothers or Bear Stearns \u2014 in fact, most of them aren\u2019t. The most pure markets in finance are incredibly sophisticated and arguably result in the most level playing fields of any industry. This is largely due to the fact that legislation forces transparency, so the sector must be vigilant about plugging holes and rooting out corruption.<\/p>\n
Leaders in other fields can learn a great deal from studying leading finance companies. Unlike tech companies, which maintain relatively friendly relationships with competitors, finance is a dog-eat-dog world. Finance companies refuse to permit bloat and inefficiencies because they can\u2019t afford such distractions when billion-dollar decisions are on the line.<\/p>\n
Not all business leaders desire a house in the Hamptons and a private yacht, nor do they thrive on the fast-paced, 24\/7 work ethic that finance demands. But founders and executives of all stripes could stand to cultivate some of finance leaders\u2019 most effective qualities.<\/p>\n
Here\u2019s what distinguishes the leaders \u2014 and winners \u2014 in this industry:<\/p>\n
Major finance corporations conduct extensive management trainings that yield standardized processes and well-trained leaders. Executives in the tech industry would benefit from more intensive training, for ourselves and our staff members, before diving into or doling out management positions.<\/p>\n
Finance companies know how to entice the brightest analytical minds, and they hook them before they\u2019ve even started their careers. Much like talent scouts pursue college athletes for the big leagues, top finance organizations operate strong recruitment programs. They visit the best universities in the country, promoting their grade-A internship opportunities to promising would-be investors.<\/p>\n