How did you end up working in finance? It’s a good question. Or should I say a recent question from my eldest who is just about to graduate and enter the world of full-time employment.
And like many of his cohort, the lack of “proper jobs” is a concern. His zero hours contract at ‘Spoons will keep him occupied (and out of my bank account!) in the short term but the lack of opportunities is a worry.
Artificial Intelligence is being blamed – but I could show my age and rant about meaningless degrees and student debt but I fully appreciate the allure of three to four years away from home – for the first time probably – and all that goes with it.
“My youngest seems hell bent on supporting the hospitality industry in Durham single handedly.”
My youngest seems hell bent on supporting the hospitality industry in Durham single handedly.
Their school was more than happy to extol the virtues of further education – for which they get kudos – with only a passing reference to apprenticeships and no mention at all of looking for a job straight from school. Further education is not for everyone.
So, to answer the original question. Further education was not for me – and I had no idea of what I wanted to do. My Dad worked in the City and through his connections I applied, and interviewed, for a clerical job at Barclays Bank.
I distinctly remember at the interview being warned they had 300 applicants for 15 jobs, and to my surprise I was one of the 15!
So on Monday 26th September 1983 I entered the world of work, promising myself as and when I figure out what I really want to do, I will go and do it.
GREAT GROUNDING
Barclays was a great grounding to learn about the world of lending – and I worked with and for ‘old school’ bankers, all of whom I learnt a great deal from. Over time, my meanderings through a number of lenders saw me settle into property finance, particularly development.
I have seen many succeed, and as many fail, worked through recessions and banking crisis, and had the pleasure to work with a great many characters in the property industry.
Much of my career has been built on the relationships – something AI can not replicate. There is no substitute, in my opinion, for that direct communication and understanding of a transaction and a borrower. Yes, AI can streamline processes, but it can’t beat “gut feel”.
INDUSTRY STALWARTS
It has been a pleasure recently to celebrate the careers of two ex-colleagues – and industry stalwarts – Tim Noble and Danny Power.
They head off into well-earned retirement and with them goes an enormous amount of experience that is almost impossible to replace. Both have had stella careers based both who they knew, and what they knew. Much of what they knew you only gain with experience – not through ChatGPT.
And to the promise I may to myself all those years ago? Maybe, just maybe, I did figure out what I wanted to do, just didn’t realise it. But would I recommend the world of finance to my sons?
