Did you know that some people who work in the financial industry make about $82,000 a year? The financial industry offers a lot of diverse careers and job positions that make working in finance quite interesting.
If you have a passion for finance, you might want to start thinking about your career path. Don’t worry; with this guide, we’ve detailed all the steps you need to know to get your dream job.
Now, are you ready to get started? Here’s an in-depth look at how to get a job in finance:
Earn Your Degree
First things first, you’ll need to earn at least a bachelors degree to get any financial related job. Make sure the university you choose has a strong business school and a good reputation in the finance industry. The classes you take are crucial, so make sure you choose solid financial courses or if you prefer an online finance course.
When you earn your degree, consider furthering your financial experience. This will set you apart from other candidates as well as further your financial education.
If you want to earn the big bucks, consider earning a Master’s of Business Administration (MBA). It’s the fastest and most-effective way to land a job in the financial industry. It’s also increasingly becoming a standard requirement for those who want to pursue a career on Wall Street.
Getting a Degree Isn’t Everything
Yes, earning a degree is often required. However, sometimes colleges don’t provide you with the most important skills.
For example, having analytical skills, interpersonal abilities, and problem-solving prowess is just as crucial as earning your degree. Companies often look for these skills to determine if you’ll be a good fit for the team. After all, companies want someone who can build long-lasting client relationships, have the knowledge to guide a client in the right financial direction, and someone who can solve an unexpected problem.
No company likes to hand-hold a new employee. Instead, you’ll be an instant hire if you have these needed skills.
Getting Certified and Licensed
While this is an optional step, earning professional credentials can set you apart from other candidates, making you look more knowledgeable and experienced. It’s certainly one way to gain specialized knowledge for your job of choice.
Chartered Financial Analyst (CFA)
This program is the perfect choice for anyone who wants to pursue a career in financial advising, risk management, or as a financial executive. There are three levels to the CFA exam; however, the subjects are not tested separately. Rather, each test builds on the previous exam and covers them in a deeper context.
Some of the topics covered are financial statement analytics, economics, portfolio management, and much more. To complete all three exams, you’ll have to pay about $3,000, which doesn’t include any of your study materials.
To pass, it’s recommended that you study for about 300 hours for each level. In other words, it’s crucial you study at least 15 to 20 hours a week for about six months.
Certified Financial Planner (CFP)
The CFP is a highly regarded certification. After all, Certified Financial Planners have undergone rigorous training and held to high ethical standards. Most financial planners exceed as consultants or financial advisors for the insurance, brokerage, or banking industry. Also, having a thorough financial background as well as analytic skills, will help to receive a CFP certification.
To earn your certification, you first must complete your CFP coursework then successfully complete the exam. The exam fees cost about $600, which doesn’t include the cost of coursework or study materials.
Financial Risk Management (FRM)
In today’s society, businesses have become increasingly concerned about managing risk. By earning the FRM certification, you’ll certainly set yourself apart from other candidates and increase your value to the company.
All companies regard the FRM as the standard for financial risk professionals. In fact, it displays to employers that you’re invested in your career choice, and you’ve had your knowledge tested against the best professional standards.
To earn this certification, you’ll need to pass two different FRM exams. In addition, you’ll have to pay about $700 in exam fees. However, that cost does not include coursework or study materials.
How to Get a Job in Finance
If you want to break into the industry, one of the easiest ways to do so is through a financial analyst program. These programs typically last around two years and provide you with rotational positions so you can gauge which job best suits you. Plus, at the end of the rotation, you’ll have earned numerous contacts within the company and be eligible for many full-time positions.
However, if you want to jump right in and start applying, go ahead. Just remember to make your resume clear and concise. Showcase your expertise, experience, and demonstrate what you’ll add to the company.
Although, make sure you’re selective about which companies you apply to. Companies tend to like when applicants have done their research and understand what they can add to the team rather than frivolously applying.
Get Your Dream Job Today
Finding a job in the finance industry can be difficult. However, if you earn a bachelor’s degree as well as learned some of the key skills companies look for, you’ll find a job in no time.
Not to mention, if you have certifications in risk management, financial planning, or another specification, you’ll definitely be a top candidate. After all, every financial company wants a knowledgeable and experienced professional on their team.
Now, for more information about how to get a job in finance, visit our website today. We look forward to helping you!