MENU

How to break in to the financial sector

The professional landscape is a difficult one to navigate. Considering the path that you’re going to take once you’ve graduated can be daunting. If you adore numbers and dream of managing money, a position in the financial sector could be just the place for you. According to efinancialcareers.com, private equity jobs are becoming the most desirable positions in the financial world.

These fast-paced jobs can be confusing, but breaking in to them isn’t as daunting as it appears from the outside. It is true, however, that you will need an education and training to help propel you into the financial industry. Looking at these job listings you will see acronyms, such as M&A, CFA and SQL, along with a host of other requirements. Here is how to go about getting them.

From the start, you need to have a direction in mind. Investopedia.com suggests that you first look at what you actively would enjoy doing. Are you better suited for high profile negotiations or do you prefer sorting numbers? Perhaps you enjoy data basing and tools such as Excel. While you likely are not going to remain in the place you started, you need to start somewhere.

Thankfully, you can qualify for many financial sector jobs with a bachelor’s degree. These programs are not all the traditional four-year programs. For the busy working individual, you could get a Maryville’s bachelor’s in accounting without risking your current job or time with your family, while you remain competitive.

The financial sector isn’t anything like more open fields. You’re going to have competition. The best thing you can do is have experience and a working knowledge of what financial companies are looking for in a new hire.

Get experience while you’re getting your degree. If you’re enrolled in a program such as Maryville’s bachelor’s in accounting, then you should also make time to get that experience. It’s not unlikely that the companies you apply to will want to see some M&A (Mergers and Acquisitions) capability, for example.

In very broad terms, M&A comes into play when a company absorbs or partners with another. You’ve likely used a product and seen the name or logo change while it otherwise remains the same. That change in name is the result of M&A agreements. Companies fight diligently to maintain their brand and cash flow. Any experience in this part of the financial sector would give you knowledge that your competitors may not have.

You would also do well to look at getting some CFA (Chartered Financial Analyst) experience. This number-heavy sector deals with handling international trade. Analyzing a client’s global financial portfolio means understanding exchange rates, interest and inflation, and giving your client a good understanding of their options for investing overseas. While you can’t get a job as a CFA without a degree, you can start working with an internship and hone your craft.

If you’re looking for work as a stockbroker, you’ll need some experience on the floor. According to TotalJobs.com, a stockbroker needs to wear many hats and work a lot of hours. However, this involved position could be an amazing and lucrative start to your financial career. Stockbrokers are researchers, analysts and salesmen. Managing a competitive portfolio is a sign of your success.

You could also use a degree in financing to further your education. Getting an MBA, for example, could give you more working knowledge to apply to your chosen field. This would also open doors for positions that you otherwise wouldn’t be able to fill without a strong background in money and in management.

Getting a solid foundational education will allow you to reach out further than you would have been able to without it. Standing with an MBA on top of your Maryville’s bachelor’s in accounting, for example, would mean more than graduating from a degree mill. Getting working experience along the way is going to secure you a place in the financial field. You’re going to have to have to focus and work hard during your education to get the experience you’ll need to be competitive.

Good experience will give you a leg up on your competition and your hard work will definitely pay off. Accountants and auditors tend to make a median income of 67,000 dollars a year. The payoffs keep growing from there. Working your way up the financial sector could more than double that income. Financial managers have a median income of 117,000 dollars a year.

 

Photo credit: faungg’s photos on Flickr. CC-BY-ND-2.0

Written by:

Published on: March 29, 2017

Filled Under: Business

Views: 631

Leave a Reply

Your email address will not be published. Required fields are marked *