Voice of Experience: Joan M. Dillon, Senior Equity Analyst, Voya Investment Management

“The only barrier to success in the financial industry is if you aren’t willing to work hard,” says Joan M. Dillon, an equity analyst at Voya Investment Management. “Hard work will always pay off, but the puzzling part is that you don’t know when it will pay off. It might not be at your current company or division, but it will happen eventually.”

Dillon has been a healthcare equity analyst for the past 24 years, 17 investing on the buy-side. It was a path she pursued partly based on an interesting college course on investing and portfolio management. A friend mentioned that Dillon was “really good at doing homework,” a skill honed through many hours logged in the library. “This concept resonated with me, and I decided that I should pursue a career in which you never stop learning; where focus and dedication matter; and where complicated projects are the norm – that’s a financial analyst,” Dillon says.

Prior to joining Voya, she was a senior analyst assigned to the health care and consumer staples sectors at Equinox Capital Management.She also served as health care analyst with Dreyfus Corporation, JPMorgan and CS First Boston.In the Wall Street Journal’sAll Star Analyst Survey for 1997, Dillon received the top award as “Best Stock Picker in Health Care Services”.

Her interest in the field is buoyed through the research she does on pharmaceutical and biotech companies, where she learns about new therapies in drug development, makes financial models on the earnings opportunity and calculates the stock’s potential value.She cites several new therapies targeting cancer and Alzheimer’s disease that are in late stage clinical trials and could be on the market helping patients over the next two to three years. “When people find out that you analyze health care companies, they often tell you about the medicines they take and ask you if there’s something new or better coming. So I can be pretty popular at a BBQ,” she says with a laugh.

Advice for Moving Up

Dillon knows the value of keeping your eyes open for opportunities, whether it’s asking your manager for more responsibility or a promotion, spending time working on a team you haven’t worked with before or raising your hand for new projects. She advocates settingprofessional goals every year and viewing your career in annual increments. Sometimes achieving the goal can mean you have to take a class after work or get an advanced degree, as she did, earning her MBA while working full time at an investment bank. Or, it might mean you have to join a new firm to work with different people and gain new experiences.

She also underscores the importance of taking the time to deliver your best work. No matter what the assignment, Dillon recommends over-preparing and practicing, especially when you are presenting to a group, and she always advises people to view their work with a critical eye. “Your work is you. Triple check it because it should always be the best it can be.”

That advice applies at every stage, but Dillon says that especially when you are new, you should be extra cognizant of the impression you are creating. “You’re the person who has a lot to learn so you should always be early to meetings – whether you’re walking in or dialing in. That shows interest, initiative and that you care,” she says. “And those are some traits that help lead to success…no matter what your level.”

By Cathie Ericson