The financial industry is highly competitive. While there is huge earning potential and prestigious positions available, these roles are difficult to secure. If you’re interested in a job in the financial industry, you’ll likely need to start with an entry-level position and progress through the ranks on merit.
The key factor is getting your foot in the door, which can be challenging for a fresh graduate or someone with limited qualifications and experience.
In such a competitive market, prospective financial professionals must use all available resources to find a job. While you might not land your dream job the first time around, it is a vast industry with various roles.
Once you get hired, you can upskill or gain experience in different areas. This puts you in a stronger position to secure your preferred job further along your career path.
Tips for Finding a Finance Job
There are entry-level jobs in finance with financial institutions, insurance companies, and business administration. The following tips can help give you a successful start in the finance industry, whether or not you have a bachelor’s degree.
Apply for internships
Work experience is essential in the financial sector, whether training to be an accountant or a credit union loan officer. Internships provide the perfect opportunity to learn the trade and gain insights into various roles.
Plenty of finance internships are paid. However, if you’re willing to work for free, you’ll find it easier to get started. The sooner you begin an internship, the easier it is to land your first real job.
It’s important to remember that an internship is more than a resume builder. Internships should be used to network, develop skills, and make an impression. Even if the internship doesn’t lead to a permanent role, a good reference can be invaluable in your job search down the line.
To find internships in your area, visit Jobsfuel.com. Our digital jobs board allows you to search for available roles in your area by keyword, ensuring you find what you’re looking for.
Keep current with industry trends
The financial industry is constantly changing. It is undergoing a rapidly accelerating digital transformation. The emergence of fintech companies and decentralized finance is changing how the public interacts with money. To give yourself the best chance at securing an entry-level role, keep up with the latest industry trends.
Another critical advantage of keeping up to date is that you’ll become familiar with financial jargon. You don’t want to be lost for words during a job interview when the topic of federal discount rates comes up.
One of the best ways to keep updated with industry news and hot topics is to subscribe to a reputable news resource, like the Financial Times or the Wall Street Journal. You can also read finance-based books, investment guides, and tutorials to improve your knowledge.
Earn your credentials
Many candidates will have experience, knowledge, and qualifications when competing for entry-level roles. To give yourself an advantage over other applicants, consider earning financial credentials. Two certifications that can help you stand out are the Chartered Financial Analyst (CFA) Level 1 exam and the Security Industry Essentials (SIE) exam.
The CFA is a nationally recognized qualification that demonstrates competency and knowledge of investing, valuing assets, wealth, planning, portfolio management, and other finance fundamentals.
The SIE qualification shows that you are competent and knowledgeable regarding security, markets, financial records, terminology, regulation, laws, and other core concepts relating to financial services. This exam is open to anyone over 18, making it an excellent option for someone without a formal qualification.
Networking plays an essential role in finance. In a highly competitive and volatile industry, having connections can help with career progression. Apart from a strong resume and proven track record, employers may rely on recommendations and references from people in their professional network.
A key aspect of networking is to create mutually beneficial relationships. Ensure you’re providing value to more senior connections. If you lack experience, share resources or offer your time to help on an upcoming project.
If in-person networking proves difficult, reach out to potential mentors on LinkedIn, attend virtual seminars, or subscribe to a mastermind group. A mutual connection can make all the difference in securing an entry-level finance job.
Perfect your resume
Applying for entry-level positions can be tricky. Candidates must find a way to distinguish themselves from other applicants with minimal qualifications and experience. However, there are some valuable tips to make your resume stand out, even if you’re new to the industry.
Where experience and formal qualifications are lacking, transferable skills, technical capabilities, and accomplishments can take their place. Build your resume around achievements from previous jobs and relevant skills developed in your academic life.
Research all companies you’re applying to and focus your resume on the specific skills they value and look for in their employees. List important soft skills, such as teamwork, problem-solving, time management, decision-making, stress management, organizational, and communication skills.
Write a short, personalized cover letter to provide a professional summary. Ensure you tailor it to the company and role.
Entry-Level Finance Jobs
Before applying for jobs, do your research and establish the financial niches that interest you. Some common entry-level finance jobs include:
- Credit Analyst
- Junior Tax Associate
- Personal Financial Advisor
- Insurance Underwriter
- Insurance Claims Adjuster
- Budget Analyst
Accelerate Your Financial Career With JobsFuel
At Jobsfuel.com, we help job applicants find roles that align with their skills, experience, and financial goals. Our site features an intuitive search function that allows job seekers to apply for positions through job title, keywords, and location. You can receive alerts when a job goes live by subscribing to custom notifications, allowing you to apply immediately.
Whether you’re looking for an internship or your first permanent role in finance, use Jobsfuel.com as your go-to jobs board. Explore our blog for interview preparation, resume tips, and other professional career advice.