How To Arm Yourself For A Rewarding Career In The Financial Services Industry

posted by Chris Valentine

If you are young, ambitious, and looking for a challenging career that also delivers a big fat pay cheque every month, then this might be it!

The financial industry has enthralled the world with its countless booms, busts, upsurges, and downturns throughout history, making it a sought after career prospect for determined professionals who know precisely what they want.

A career in financial services offers many potential opportunities as the industry is in the midst of unprecedented growth all over the world. In fact, it is predicted that financial services employment in Australia will increase steadily at a rate of 3.2% until 2023.

If you are interested in pursuing a career in finance, make the right move with your job search to ensure that you get a well-paying job. And getting a degree in finance is just the first step up the career ladder.

Here are a few ways to arm yourself with the necessary skills for a successful career in the financial services industry:

Get A Degree From The Right Institution

To start a well-rewarding career in finance, you’ll need a degree. Choose your specialization and university carefully as some firms limit their hiring to specific schools.

You need to make sure that your chosen college or university has a strong reputation in the financial services industry. Also, the degree should be accredited and valid in other countries to ensure that you can expand your career anywhere in the world.

For undergraduate courses, economics, accounting, and financial analysis are good options. Also, many postgraduates go for an MBA or enrol in other finance courses that offer graduate-level financial theory and practical knowledge on one’s own time.

Connect With A Mentor

A mentor can be anyone who is in a position of influence, believes in your capabilities, and is willing to help you achieve your goals. You need to find someone you respect and admire as a person and a professional.

They could be your college professor, a family friend, or anyone whose professional success inspires you.

When you reach out to people for mentorship, they will share their experiences with you and give you tips on how they managed to succeed in their careers. They will also impart knowledge and advice that will help you figure out the best way to prosper in your career.

Enrol In Online Courses

Augment your degree with online financial certifications to specialize in particular aspects of the financial services industry and stay up-to-date with the latest developments in this field.

There are several online financial courses in Australia that equips you with the necessary skills and knowledge needed for a specialized job in finance.

One of the most popular online courses is Certificate IV in Financial Services that is designed to provide a flexible and successful pathway in the financial services industry. It is created to meet the training needs of employees who work across a wide range of duties and are not in search of a specific qualification.

This and other online courses can help you develop your talents and polish your skills to become a dynamic professional. They also set you apart from other candidates and help potential employers view you as a knowledgeable and certified candidate.

Score An Internship

Getting an internship is one of the best ways of locking in a well-paying, full-time job in finance that advances your career.

Working as an intern at a company will allow you to get your bearings about the business before you launch into a full-fledged career in finances. You’ll get to meet and interact with others who have similar ambitions, as you get a bird’s eye view of the world of financial services and find your way around it.

An internship at a smaller company will get you hands-on experience with clients and the entire financial planning process. In contrast, at a larger company, you might have to fetch coffee and laundry for the bosses before they take you seriously.

So don’t let any opportunity pass you by, no matter how small it is – go for unpaid internships or volunteer work to get your foot in the door if you have to. It will all pay off in due course.

Create A Striking Résumé

A résumé is how you market yourself and your skills in the professional world. It should not only put your best features on display, but also let the prospective employers know of your background, skills, and accomplishments.

A remarkable résumé must highlight your achievements, credentials, experiences, and anything that relates to your goals. Also, it should provide a brief timeline of all the significant accomplishments you’ve made in financial services since you started your career.

So make sure you update your resume each time you hit a milestone in your career and put it up for consideration whenever a vacancy opens within or outside the organization.

Aim For A Specialty

Finance is a vast industry encompassing several areas of interest; enrolling in a targeted financial training services course can introduce several options that translate well into career prospects in accounting, finance, banking, financial advising, and much more.

So think about specializing in an area of finance that piques your interest. This is the best strategy for a long and successful career with some quality credentials and designations such as Chartered Financial Analyst and Financial Risk Manager, to name a few.

Moreover, if you already have a job, most companies have programs that allow employees to continue their education or train for other skills – look into these opportunities.

Build Your Interpersonal Skills

We use these skills every day to interact with others effectively. Listening and speaking are essential communication skills for this industry – but it is also important to know how to control and manage your emotions if you are to succeed.

Also, be quick in making sound decisions and work on your number-crunching skills to prove yourself as the best potential candidate.

Apart from degree and courses, work on your interpersonal skills to gain more ground as a finance professional. In this industry, it pays to be knowledgeable, as well as empathetic yet persuasive; these qualities will get you far no matter what your specialization.

So no matter what specialty you choose, a combination of knowledge and interpersonal skills will help you to go a long way.

Start Networking

Connecting with people widens your knowledge base and builds contacts that will not only last a lifetime but also come in handy in your time of need.  

Networking is an essential element that plays a massive role in making your career as it allows you to identify and work on your weaknesses by aligning with the right people.

So don’t shy away from making new contacts and also keep in touch with former colleagues to remain updated on any vacancies. You can attend conferences and seminars to find others in your industry who are interested in professional networking.

Ask your mentor to help you connect with people who share the same experiences and can offer you sound advice about your future goals.

Ready To Establish A Career In Financial Services?

If you are interested in a career in financial services, there are plenty of prospects online. However, it is wise to plan your education and career so that you can aim for success when it comes to internships and ultimately hiring.

The decisions you make right now can help you pan out a lucrative and exciting career path a decade down the line.

If you are ready to walk this path, keep networking, and build your knowledge base until the right job comes your way. You can only develop your acumen in this field with specialized online courses or training programs that help you to brush up your skills and make yourself known as an expert in the industry.

MCI Institute is here to help you hone your skills. Get in touch with us to learn more.

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