It is not easy to break into the financial services industry.
According to experts, it is important to make the right move with your job search to get a well-paying job. Once you have graduated with a degree in finance, how can you ensure that you progress up the career ladder quickly?
Here are a few things you need to know to get started with a Financial Services Industry Career:
Entry Level Position
There has been a growing trend in the past few years where financial service employers rely greatly on internship programs for entry-level positions. This is beneficial for them, as they get a chance to carefully assess an individual’s strengths and weaknesses while they are still in a learning phase. This saves organisations the hassle of the entire screening process, as they can evaluate the performance of candidates on the job who already have a basic knowledge of the day-to-day business. Therefore, if you are a student try to get internship experience as soon as possible even if it doesn’t pay a lot.
Build a Good Academic Background
A few decades ago, it wasn’t uncommon for individuals working in the financial service industry to come from various backgrounds and learn about work along the way. Now, a four-year college degree in the specific field is a must. Make sure you don’t just stick to the books; take part in relevant co-curricular activities so that employers know you have practical knowledge along with academic expertise. Candidates for an investment banking position need to have strong academic records with a high GPA because it shows that they are capable of taking on challenging coursework. It also shows evidence of superior work ethics.
Build Your Interpersonal Skills
If you are a persuasive and knowledgeable person, you have good scope to work as a registered representative. However, if you are good with numbers and calculations, a financial analyst position could be a good fit for you. Whichever field you choose, it’s essential to have excellent interpersonal skills if you want to go a long way. The financial service industry requires quick judgments and outstanding number crunching skills. Therefore, you need to have perseverance and a competitive nature to stand out from the rest of the crowd.
Don’t Be Afraid Of Following Your Passion
It should be noted that not all people working in the financial services field have been there since the beginning. Most people who land in the brokerage industry don’t start from the same place. Many people use the knowledge they have from their previous jobs to later find positions better suited to their needs. If you have been working in a different sector for a while, you can still switch to finance. For example, Matthew Smith BNP Paribas went from a job as an English language teacher at a school to a job in finance. After doing BA Hons in Business Studies, he entered the tourism industry where he worked for an English language school and traveled the world at the same time. Wherever you end up only depends on your attitude and your desire to explore your passion and the different options present in front of you.
The bottom line is that the financial services industry has numerous opportunities and you can easily succeed despite increasingly stiff competition by being persistent.