A few weeks ago, I had a call with a treasury professional who was clearly rattled.
They’d just seen a job spec with the words “capital markets experience required” plastered all over it.
You could almost hear the anxiety down the line…
“Mike… I’ve done cash, FX, systems, liquidity… but nothing in capital markets.
“Is that going to kill my chances?”
I’ve heard that line more times than I can count (and if it’s not capital markets, it’s something else).
And here’s what I believe:
Capital markets are just one slice of the pie that makes up treasury. And if you’re missing experience in just one area, it’s not the end of the world.
What really gets you hired isn’t the occasional bond deal; it’s everything you do day in, day out:
- Managing liquidity
- Improving visibility
- Partnering with the business
- Solving problems
- Mentoring your team
Those are the things that build your reputation and get you promoted.
But if you’re in a similar boat and are specifically missing that capital markets experience, here’s what I’d say:
Capital markets are rarely the thing that will make or break a treasurer…
I placed a brilliant Deputy Treasurer once was convinced she needed to get bonds experience on her CV.
Eight months later, she rang me up and said;
“Mike, I’ve done three now… it’s really quite boring.”
And she wasn’t wrong. The structuring part is clever, but the execution is mostly waiting for lawyers and bankers to do their thing while you watch from the sidelines.
If a company truly needs capital markets expertise, it’ll lean on its banks.
So stop worrying about whether you’ve ticked every single box on the job description…
Focus on the important stuff that keeps a business running and the needle moving.
Best regards,
Mike
