Business Insider published this interview with Carla today. Read an excerpt here and head over to BusinessInsider.com for the full article:
Want to know what’s slowing down your Wall Street career?
A 28-year veteran at Morgan Stanley is out with a book on the unique challenges young professionals face when trying to navigate the workplace.
After publishing her first career advice book, Expect To Win, Carla Harris said she encountered questions from young professionals that weren’t answered, such as how to advance or change careers completely. Although Strategize To Win, her new book, targets all industries, many of Harris’ examples comes from her own experience in the financial sector.
Harris is the vice chairman of wealth management at Morgan Stanley. She joined the firm in 1987 in mergers and acquisitions. In 2013, Harris was named chairperson of the National Women’s Business Council.
In an interview with BI, Harris talked specifically about what young Wall Streeters are doing wrong. According to Harris, here are five ways to avoid the common mistakes:
Know when to use what skills
Harris said the biggest mistake young professionals make is not understanding the necessary skill set and how it changes. She said young professionals must know when to transition from analytical skills to interpersonal skills as their careers move forward.
“When you’re first starting out in your career on Wall Street, your analytic skills, your quantitative skills and your attention to detail are the things that are most valued,” she said. “Three to four years into your career as associate, you’re about to be promoted to vice president. And at that point people are valuing your commercially, your ability to build relationships, especially at the junior levels at the client organizations.”
Harris’ advice for finding an advantage within a very competitive industry is to be your authentic self. Figure out what the recruiter is buying, and match up your skills and abilities based on the position. Authenticity is the best way to differentiate between yourself and the rest of your peers, she said.
“People make a mistake when they try to behave or act like other people, and then they lose the power of their individuality,” she said. “Each of us has something that makes us uniquely who we are. And that is your competitive advantage.”
Manage your time aggressively
After graduating from Harvard, Harris has moved up the ranks at Morgan Stanley, has written two books and sings gospel music in her spare time. She said that many people have a misconception about Wall Street as very demanding and time-consuming, but in reality, time management is doable…