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Username: PrettyWoman Rating:  Asked to: Anton Luyten Date Created: 18 May 2018 |
| Category | 28 |
| Tag | Financial |
| Question | What is a 'Rainmaker'? |
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Hello PrettyWoman, A rainmaker is an individual who brings in large amounts of business to a firm. On Wall Street, a rainmaker would be a broker or financial advisor who brings in several wealthy clients, or a banker who secures many merger and acquisition (M&A) deals or mandates for initial public offerings (IPO). At a law firm, a rainmaker may be a senior partner who captures lucrative legal work through her network of contacts or word-of-mouth. Any salesperson elsewhere — a technology company, for instance — is considered a rainmaker if he or she closes a lot of contracts. As such, they are typically highly compensated. Also, because of their proven ability to generate revenue for one firm, they may be heavily recruited by competing firms and offered significant financial incentives to make the switch. |
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