Did you know that some people in the financial industry make about $82,000 a year? The financial industry offers many diverse careers and job positions that make working in finance quite interesting. If you have a passion for finance, you might want to consider your career path. Don’t worry; we’ve detailed all the steps you need to know to get your dream job with this guide. 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, you’ll need to earn at least a bachelor’s degree to get any financial-related job. Ensure the university you choose has a strong business school and a good reputation in the finance industry. Your classes are crucial, so choose solid financial courses or an online finance course.
When you earn your degree, consider furthering your financial experience. This will set you apart from other candidates and further your financial education. If you want to earn the big bucks, consider earning a Master of Business Administration (MBA). It’s the fastest and most effective way to land a job in the financial industry. It’s also becoming a standard requirement for those pursuing 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, has the knowledge to guide clients in the right financial direction, and can solve unexpected problems. No company likes to hand-hold a new employee. Instead, you’ll be an instant hire with these needed skills.
Getting Certified and Licensed
While this is optional, 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. AThe CFA exam has three levels, and the subjects are not tested separately. Rather, each test builds on the previous exam and covers them in a deeper context.
Some topics covered are financial statement analytics, economics, portfolio management, and more. You’ll have to pay about $3,000 to complete all three exams, 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, you must 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 are held to high ethical standards. Most financial planners work as consultants or financial advisors for the insurance, brokerage, or banking industry. Also, having a thorough financial background and analytic skills will help one receive a CFP certification.
To earn your certification, you must first complete your CFP coursework and then the exam. The exam fees cost about $600, and they don’t include coursework or study materials.
Financial Risk Management (FRM)
In today’s society, businesses have become increasingly concerned about managing risk. Earning the FRM certification will set you apart from other candidates and increase your value to the company.
All companies regard the FRM as the standard for financial risk professionals. It shows employers that you’re invested in your career choice and that your knowledge has been tested against the best professional standards.
You’ll need to pass two FRM exams to earn this certification. Besides, 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 to gauge which job best suits you. Plus, you’ll have earned numerous contacts within the company at the end of the rotation and be eligible for many full-time positions.
However, if you want to jump in and start applying, go ahead. Just remember to make your resume clear and concise. Showcase your expertise and experience and demonstrate what you’ll add to the company.
However, make sure you’re selective about which companies you apply to. Companies prefer applicants who have researched and understood 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 earned a bachelor’s degree and learned some key skills companies look for, you’ll find a job quickly.
Not to mention, you’ll be a top candidate if you have certifications in risk management, financial planning, or another specification. After all, every financial company wants a knowledgeable and experienced professional on its team. We look forward to helping you! Now, for more information about getting a finance job, visit our website today.
