How to Get Hired in the Finance Industry. (2024)

Both seasoned workers and new hires can find plenty of chances in the finance sector. An entry-level position is a crucial place for a recent college graduate to start their finance career. It could lead to their ideal position or help them earn experience that they can use in other roles. This post discusses the several career options in finance as well as how to enter the field without any prior expertise.

Advantages of pursuing a finance job:-

The finance sector can provide you with long-term employable skills and a wide choice of positions with different pay and benefits. Advantages consist of:

1.An explanation of finance's earning potential:-

The substantial earning potential that a profession in finance offers is one of its main benefits. Money management is the focus of the finance industry, and companies and organizations place a great value on people with these skills. Attractive compensation packages are available for individuals who choose to pursue a career in finance due to the increasing demand for qualified finance experts.

The income potential in finance varies greatly based on the particular function, experience level, and size of the organization. However, investment bankers, hedge fund managers, and private equity specialists hold some of the highest-paying positions in the banking industry. These people have the potential to make annual salaries in the crores of rupees.

2.Work-life Balance:-

Many positions in the financial industry provide a great work-life balance, which is especially advantageous for independent contractors who may plan their schedules and combine work and personal obligations.

3.High possibility for earnings:-

Financial services careers offer some of the highest paying entry-level professions, with salaries far higher than those of most other fields. Furthermore, if you put in a lot of effort early on, you might advance in your profession and see a significant wage raise very fast.

4.Job stability:-

Because the field of finance is in high demand, job stability is a significant benefit of pursuing a career in it. In general, positions in the field are safe. Since finance is essential to daily living, there are numerous career paths in the field. This allows you greater flexibility to move to a new job, city, or even just a different challenge whenever you feel like it.

5.Demanding profession:-

Finding work in finance isn't always simple. Success requires intelligence, diligence, and knowledge, which keeps employees on their toes. Over time, it can be quite rewarding because it's an intellectually stimulating area. Furthermore, it doesn't take long to advance in the ranks if a person puts in the necessary effort early in their profession. This allows them to earn more and overcome novel and exciting challenges.

Some strategies to land a job in the finance sector:-

1. Get a degree in bachelor's:-

Although a degree isn't strictly required to work in finance, having more education can make you stand out to hiring managers and keep you competitive for a given position. You may find it more advantageous to obtain your degree in finance rather than business or another similar discipline, particularly if the position you want is more specialized. You may learn important facts and financial concepts during your schooling that will help you in your future employment.

2.Go to career fairs:-

Attending career fairs might potentially result in a job offer in the banking industry. You can speak with representatives from companies about their businesses and the chances they provide to applicants who meet their standards at a career fair. These people occasionally accept resumes, and some even hold informal interviews while the event is going on.

3.Create a well-structured resume:-

An ordered resume is the second most crucial piece of advice for applying for jobs in finance. Regard resumes as your initial impression in any application for a job. They take time, but in the long run, they will benefit you because they make you examine your skills.

Making your CV unique, creative, and personable will make it stand out. Customizing your resume for each job application might also be beneficial. When applying for two jobs, for instance, if just one of them demands project management expertise, then only include it on that particular copy of your resume and find another relevant skill to include on your other CV. Other recommended practices for finance resumes are as follows:

1. Concentrate on your abilities and connect them to the banking industry.
2. Incorporate charitable and volunteer work.
3. Highlight your achievements from high school and college.
4. Place a strong emphasis on transferable talents.
5. Describe how you can assist employers in meeting their needs and resolving issues.

4.Look for a mentor:-

You can get assistance from a reputable mentor with experience in the finance sector in any way you require. Mentors can aid you by sharing what they've previously learnt, as well as by providing resume critiques and interview guidance.

An excellent mentor would encourage you to pursue your objectives, assist you get ready for a new position, suggest chances for the future, and make you stand out from the competitors when you apply.

5.Take up an internship:-

With an internship, you can get additional knowledge about the financial sector while working for a company that may offer you a window into future career opportunities. Though each internship can broaden your knowledge and assist you in focusing on your interests and intended career path, you should think about doing multiple internships, each in a distinct area of the financial business.

Building your professional network to include the people you work with is another advantage of internships. These same coworkers may assist you in getting hired when you apply for jobs. During job interviews, you may also discuss your internship experience with the hiring manager. You can also update your resume to reflect the projects and successes from your internship.

Bottom Line:-

Wall Street is undoubtedly in need of some non-financial degrees for particular roles, such as:

Quantitative trading, derivatives, and structured products: physics and mathematics

Information technology for platform development and algorithmic trading

Engineering, mining, and science for investment banking and industry-specific research analysis

However, finding a career in finance is probably going to be extremely difficult for the great majority of people with degrees in fields other than finance. This is especially true in light of the fact that banks and other financial organizations lost thousands of jobs following the global recession of 2008.

A non-financial graduate should be able to significantly increase his or her prospects of starting a job in finance by combining the advice covered above.