How To Improve Your Chances Of Securing A Job In Finance
If you are interested in starting a career in finance, you need to prepare yourself for some intense competition. Entry-level jobs can be extremely difficult to come by since there are so many candidates competing for these positions.
The number of jobs available also hinges on how well the stock market is doing at any given time. When the stock market is up, more jobs are generally available. When the market is struggling, on the other hand, jobs in finance become few and far between. If you want to improve your chances of finding a job in finance, try using the following suggestions:
- Get Started As An Intern
The vast majority of financial companies hire new recruits with the idea that they will go through a company-approved training program before they begin working on the job. Although candidates are expected to have general knowledge of the financial industry, they are not expected to know everything on their first day.
Working as an intern can be a great way to get your foot in the door at these companies. You generally don’t have to have a lot of experience to get one of these positions. Instead, they are designed to provide on-the-job training by exposing you to the day-to-day operations of the business.
In most cases, you will not work directly with financial data as an intern. Instead, your job will be more of a support role, performing essential office duties such as copying documents. However, internships can be extremely beneficial in terms of helping you get insight into how financial businesses work. They can also help you grow your network and gain experience so that you can set yourself apart from other applicants when you do apply for a job.
- Don’t Wait To Get Started
The sooner you apply for internships, the more experience you can have under your belt by the time you graduate. You may even want to consider applying to work as an intern during the summer between high school and college. A lot of times, you will get paid for working as an intern. This can make it a good summer job since it is relevant to your field of study. Instead of wasting your summer working at a throwaway job, it makes far more sense to try to get an internship so that you can gain beneficial experience toward your chosen career. If you are looking for jobs then IFDS is a good site.
- Aim For Getting A Well-Rounded Experience
Consider mixing up your internships a little bit. Don’t go for the same role every year. Instead, look for a variety of internships that fall under the larger umbrella of finance. This will give you a much more well-rounded experience, allowing you to determine which path you really want to take in the world of finance. The additional experience can also make you more attractive to potential employers. After all, employers like to see people who take the initiative to try out multiple roles so they can determine which one is the best fit.
When you do manage to get an internship, it is important to give it your all. Being a hard worker can go a long way toward helping you get positive references. If you really stand out from other interns, you may even be able to get hired directly by the company after you graduate.
- Learn Financial Terminology
It goes without saying that you should get a finance-related degree if you plan on working in the world of finance. Although it is possible to get one of these jobs with an unrelated degree, you will have the best possible chance of securing employment if you have a degree that is relevant to the position that you are applying for. The more time and effort you can put into honing your skills before graduation, the more likely you are to find a good job right out of school.
You should also focus on expanding your knowledge of the financial world as much as possible. Be proactive and educate yourself about what is happening right now. Subscribe to popular financial magazines or newspapers so that you can keep up-to-date with the latest happenings. In some cases, you may even be able to save money on your subscription by proving that you are currently going to school.
The more time you spend reading financial publications, the more likely you are to pick up on common financial terminology. There are a lot of acronyms used in the financial world. Understanding what these acronyms mean can put you in a much better position when it comes time to get a job.
Although you may study some of this terminology in your classes, it can still be beneficial to see it being used in the real world. You can also visit the library and pick up some books on investing or finance to get a more detailed look at any topics that you find particularly interesting. When you happen upon a term that you aren’t familiar with, be sure to look up what it means to further expand your financial knowledge.
- Work On Becoming A Chartered Financial Analyst
It goes without saying that financial jobs can be extremely competitive. The majority of applicants that you will be competing against will also have solid educational backgrounds and a few internships under their belt. If you really want to set yourself apart from everyone else, you should consider becoming a chartered financial analyst (CFA).
The CFA credential is widely recognized throughout the financial world and can help improve your chances of securing a job. The program itself provides education that can benefit you throughout your career. In order to obtain the credential, you will need to pass a series of exams. The exams are broken down into three levels. For the second and third level exams, you need to have work experience. However, you can take the first level exam during your final year in school.
If you are able to pass the first exam before graduating from school, it can really set you apart from all of the competition. It takes a lot of hours of studying in order to pass the exam. Taking the exam before graduation shows employers that you are truly serious about pursuing a career in finance and that you will do whatever it takes to succeed.
No matter how many jobs are currently available, starting a career in finance can be challenging. There is a lot of competition for entry-level jobs. Instead of getting lost in the shuffle, it makes far more sense to do everything that you can to set yourself apart. By working to get relevant internships, going above and beyond to educate yourself about the current financial climate, and entering the CFA program during your final year of school, you can really differentiate yourself from other applicants.