Seven Tips to Land Your First Finance Job
If you have just finished your primary degree, or you are looking to make a move into the finance industry, it can be difficult to know exactly where to start. This article lists seven tips you can use to give your job hunt every chance of success.
1 Network
As finance is so heavily based on data, numbers, and results, it can be a surprise to learn just how significant a role relationships play in both recruitment and career progression in the industry. You will need to learn how to network appropriately, and where.
Find a local finance club, or - if you work in one of the world’s trading hubs (New York, London, Tokyo, Hong Kong) - try and befriend some local financiers. You could do this through friends/family of your own, or by using more creative ways, such as regularly going to cafés/bars/restaurants in the finance district of your city and sparking up casual conversations with people who work in the business.
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[Starting Your Career in Finance – 7 Tips for Graduates]
2 Learn
While who you know is important, what is even more valuable to prospective employers is your ability to ‘talk finance’. Do you understand the key areas of the industry? Are you well versed in the different elements of the job you want? Do you keep up with the latest industry news?
Your knowledge of finance should extend way beyond your degree and in reality, you will never stop learning. Consider subscribing to The Financial Times or brushing up on your finance knowledge through an online course.
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[Five Finance Jobs of the Future]
3 Showcase Your Knowledge
Applying for a job in the industry is usually done online, so it can be hard to communicate the full depth and breadth of your finance knowledge via a resume or cover letter, which should of course be kept concise and easy for a prospective employer to quickly get a feel for who you are and how you might be a good fit for their firm. A portfolio of your knowledge in the form of a blog, YouTube channel, or a professional Instagram profile can both impress your future boss and showcase the passion you have for the industry.
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[10 of the Most Popular Entry Level Finance Jobs]
4 Start Investing
Today, it is easier than ever to start an investment portfolio. Apps such as eToro and DEGIRO have made what used to be an opaque and somewhat exclusive area of finance accessible to anyone with a smartphone, an internet connection, and a bank account. Even more popular payment apps such as Revolut offer trading features that are accessible with a single tap of the screen. If you couple some trading activity with a subscription to The Financial Times, you can start to build an informed portfolio of investments which will not only provide an interesting talking point in your interview and an impressive section on your resume, but will hopefully make you some money as well.
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5 Manage Your Personal Brand
Finance is somewhat traditional in comparison to other big industries such as tech, pharma, and food/drink. Many of its more senior members are quite reserved, analytical people who are laser focused on results. With this in mind, it is important to manage your personal brand, especially if you are going to build a network of financiers and publish to your own blog. Allowing certain elements of your personality to shine through is important, but focusing on the industry in whatever brand building exercise you engage with is recommended.
For example, if you strike up a conversation with someone in a Wall Street café – or a similar establishment in any financial quarter - talk about that day’s markets or the latest big merger and make sure you look presentable – financiers usually dress quite conservatively.
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6 Hone Your Interview Skills
Honing your interview skills will go a long way toward improving your chances of getting a job in finance.
If you have never worked in a highly professional setting like finance before, it is entirely possible (and normal) to never have had a formal interview and - even if you have - you can always work to make this part of your job search strategy that bit more effective.
There are plenty of resources you can access online such as this video from Eric Andrews explaining some of the finance interview questions you might be asked or this piece from Robert Walters Group giving you some simple tips for a successful interview.
You can go one step further and set up dummy interviews with friends or hire a recruitment coach to guide you through the process. Use your smartphone to video these dummy interviews and rigorously review your performances. It may be somewhat embarrassing and strange to see yourself 'in action’ at first, but with practice and research, you will see quick returns.
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7 Get a Mentor
Mentoring programs are gaining in popularity as a way of refining your skills and fast-tracking your networking ambitions.
A mentor can help you in your job hunt in a few different ways:
While the number of mentoring programs available have grown exponentially, it can still be difficult to know where to start. In a useful piece in the Harvard Business Review, Janet T. Phan explains that the most important thing is to be proactive. Reach out to your prospective mentors, do not wait for them to show up on your doorstep or be afraid of rejection. Stay in touch with them regularly and give them updates on your career.
A mentor can help you in your job hunt in a few different ways:
- They are likely well connected, so can introduce you to some senior and influential members of organizations
- They can share some valuable knowledge with you that may have taken them years to develop
- They can give you the confidence you need to push yourself for the position you want
While the number of mentoring programs available have grown exponentially, it can still be difficult to know where to start. In a useful piece in the Harvard Business Review, Janet T. Phan explains that the most important thing is to be proactive. Reach out to your prospective mentors, do not wait for them to show up on your doorstep or be afraid of rejection. Stay in touch with them regularly and give them updates on your career.
By following some of the tips above, you can look forward to getting ahead of your rivals in the race for a first job in finance. If you can go that bit further and follow all seven of the tips, you can look forward with confidence to building a satisfying and successful career in an ever-changing and rewarding industry.