• BBA in Finance
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Before jumping over to the “eight call rule”, let’s find out about the roles and responsibilities of an investment banker and how to be successful in this industry.

Role of an Investment Banker

Investment bankers are essentially financial advisors who guide their clients on profitable investment avenues and help them achieve their desired financial goal. The role of an investment banker is multi-faceted and involved a lot of things. The role also varies depending upon the type of organisation and the nature of the investment bank.
An investment bank can be broadly categorised in two categories; the buy-side firm and the sell-side firm.

At the core of sell-side investment banks lies the role of raising capital for clients from the market by issuing either equity or debt securities. Investment bankers help a great deal to companies who are looking to launch their Initial Public Offer (IPO) and raise capital from the market by issuing shares of the firm.

The buy-side investment banking activities include managing pension funds, mutual funds, hedge fund, institutional investors, etc. The primary goal is to maximise the wealth of the client by finding profitable investment opportunities after assessing the risk appetite. The buy-side investment bankers are in contact with sell-side investment bankers to facilitate investment. This helps to channel the funds in the market.

How to be successful in the investment banking industry?

The investment banking industry is known for its magnificent lifestyle and fat cheques. People on the outside are often unaware of the efforts and dedication it takes to be a successful investment banker. Most of the young and aspiring college graduates are lured in by the outside glamour, knowing very little of the work that goes into making it big in this industry.

The title of an investment banker sets you apart from the crowd in the sense that you have access to high-profile individuals and confidential valuable information. Being successful in the Investment banking industry takes more than just good financial acumen and technical skills. You have to hone your soft skills and network with high-profile individuals and make your mark.

You have to manage multiple aspects of the job that includes conducting research meeting new prospects, closing deals, etc. Experts over the year have experimented with a rule that has resulted in successful breakthroughs in the Investment banking segment. It is popularly known as the “Eight-Call Rule”. Let’s dig deeper to find out what it entails.

The “Eight-Call Rule”

A big part of an investment banker’s role entails reaching new clients to expand the business. Arranging a meet with new clients involves a lot of cold calling and emailing before finally getting the consent. Cold calling new contacts are not very effective and often lead to disappointment. So what can you do to reach new prospects? Well, the short answer to this question is perseverance and patience and the long answer is the “Eight-Call Rule”.

Investment banking professionals at an Atlanta based Investment bank have found an effective strategy that has shown profitable outcomes. It has helped them reach new prospects strategically. The story behind the eight-call rule is very interesting. Investment banks have always logged all contacts with a prospective client; the twist here is that they have started leveraging data to obtain valuable insights.

This data scrutiny helped the investment banks to find the sweet spot for reaching new prospects; they got the magical number, which was ‘8’! As per historical records, it takes eight cold calls to reach a prospective client. Another important insight revealed from using data was the average number of calls for reaching an investor. Three was the lucky number here. However, it was not necessarily limited to phone calls. Other touchpoints like mail and messaging were also included in this.

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About Imarticus
Imarticus Learning is India’s leading professional education institute that offers training in Financial Services, Data Analytics & Technology. We’ve successfully transformed careers of over 35,000+ individuals globally through our Certification, Prodegree, and Post Graduate programs offered in association with leading and renowned global organisations in the Financial Services, Data Analytics & Technology domain.
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