Can a introvert do well in investment banking?
Introverts: If utilize their skills correctly, can develop a way too strong network with their unique skills and value-added conversations as Investment banker.
Despite the many successful introverted professionals in investment banking, there are still misconceptions about their abilities to network. Many assume that introverts are not as outgoing or personable as extroverts and may overlook them for promotions or leadership positions.
📈 According to a study by the Myers-Briggs Company, introverts make up 56.8% of financial professionals, while extroverts make up 43.2%. This means that there are plenty of introverted financial professionals out there who have achieved success in their field.
Finally, would-be investment bankers need to be self-motivated, good communicators, natural leaders, and team players, too. You also need to have a strong sense of professionalism at all times.
So, yes: you can be successful as an introverted financial advisor and your first financial plan is to figure out how you can best make that work.
Social scientists or research-based careers such as political scientist, anthropologist, economist, and urban planner are a good fit for academic-minded introverts. These careers may work independently or with teams, but they tend to offer a balance of both self-guided research and collaboration.
On average, introverts and extroverts are the same in terms of intelligence. But statistics show that around 70% of gifted people are introverts. People are considered “gifted” when they exhibit above-average intelligence or a superior talent for something, such as music, art or math.
Introverted qualities are highly prevalent and valued among successful leaders. Famous introverted CEOs include Bill Gates and Warren Buffett who have demonstrated that introversion is not a barrier to effective leadership.
Since they spend so much time alone, introverts often have a lot of time to think about new ideas and ways to do things. This can make them very creative people. It is also one of the reasons that you will find introverts to be some of the richest people in the world.
In 2016, a report from The Sutton Trust declared that extroverts are 25% more likely to be in a high-earning job. Despite the numbers, many top CEOs have self-identified as introverts: Warren Buffet, Bill Gates, Larry Page, Mark Zuckerberg, Elon Musk.
Can you be happy in investment banking?
I was recently asked if most investment bankers are actually happy. A pretty good question because for many it's a dream job. From my experience - and I spent 8 years in the industry, many of my friends are investment bankers - most are indeed deeply unhappy. Saying that, many will be happy once they're out.
The lucrative and fast-paced career of an investment banker is a highly competitive one. For instance, in a recent year, 236,000 applicants competed for roughly 3,500 internships at Goldman Sachs. This is common across the industry where acceptance rates for programs are typically less than 2%.
For those seeking a career in investment banking, a bachelor's degree in finance is a prerequisite. Other potential acceptable majors include bachelors in economics or bachelors in business supplemented with a minor in finance.
Our world is peppered with 2,668 billionaires who together hold an astounding wealth of $12.7 trillion, according to Forbes' 36th-annual ranking of the planet's richest people. Among all these billionaires, you will find many have an introverted personality type.
Accountants must communicate with clients, managers, and other professionals effectively. They should also be detail-oriented and have strong math skills. Introverts tend to prefer to work independently, which is a perfect fit for the accountant role.
Extroverts attract people who like razzle-dazzle—introverts attract people who want to bask in their warmth. Remember that, if you're looking for a one-and-only.
Children are born with an innate preference. And parents are vital to how that preference is developed. The degree to which you are introverted or extroverted is influenced by your genes. Of all the personality traits studied, introversion/ extraversion is one of the most heritable.
However, while introverts are a minority group in society, they form the majority of gifted people. Moreover, it appears that introversion increases with intelligence so that more than 75% of people with an IQ above 160 are introverted.
Not only is Einstein one of the most famous scientists in history, but he was also a known introvert. Leaning into his introverted nature, Einstein believed that his creativity and success came from keeping to himself. He said, “The monotony and solitude of a quiet life stimulates the creative mind.”
Introverts think before they act
While extroverts tend to be surrounded by people, introverts enjoy their alone time. Being alone gives them time to calmly process and analyze problems so they can plan their next move.
Can introverts be good businessmen?
Considering that introverts are not always quiet or reserved, this stereotype is untrue. They stand out because they value solitude and have a propensity for introspection. Because they can run a business with a laser-like focus, introverts frequently make excellent entrepreneurs.
Introverts gain energy from quiet reflection and isolation. Both personality types can be equally creative, passionate and articulate leaders. So, don't overlook the quiet ones in the corner. They may harbor just the leadership qualities your company needs to succeed.
Warren Buffett, born on August 30, 1930 is known as the World's Richest Introvert. He is an American businessman, investor, and philanthropist who currently serves as the co-founder, chairman and CEO of Berkshire Hathaway.
To test the same, a survey is taken in TamilNadu with 1000 rich people and found that 900 of them are introverts. Frame the appropriate hypothesis and test the claim at 5% level of significance.
People with high levels of thinking introversion don't share the aversion to social events people usually associate with introversion. Instead, this style of introversion just means a person who tends to be introspective, thoughtful, and self-reflective.
