The Right (and Wrong) Way to Start a Career in Finance in 2021

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Indeed, the world of finance is a competitive one, but it provides various career opportunities, depending on your education and experience. If you are planning to start a career in finance, follow these tips on how to do it right:

Get the right skill sets

Besides finance or related degree and experience, several skill sets are required for a successful career in finance. You need to be analytical, dependable, and detail-oriented. When recruiting, companies also look for people who work well with others, have problem-solving abilities, and have good communication skills.

Pathway to a career in finance

Within the financial industry, several different divisions offer a significant number of opportunities. Here is how to start a career in finance-related positions:

College Degree

Not all positions in finance require a degree, but the added education does make all the difference to recruiters. Some places in finance require specialized knowledge and certifications, e.g., accounting, credit analysts, risk managers, etc., meaning that a degree in finance could be more suitable than one in business. Education, even an English literature major, exposes people to the valuable information required to get on with the job.

Don’t Ignore the Value of an Internship

With an internship or two, you can learn as you work for a company in the financial industry. Besides the value of learning about different areas and expanding your interests in the financial world, an internship has the added benefit of helping you create a professional network. Internship experience counts a lot during job interviews but also enables you to build a professional network.

Make use of contact referrals

If you know a past coworker at a company you are applying with, ask them to vouch for you. Hiring managers are more likely to consider a resume if the candidate has a referral from an existing employee.

Consider the relevance of courses

The suitable courses that focus on accounting, economics, and other finance skills are essential during college because these concepts make you a more suitable candidate. However, it is never too late to take courses provided on various financial topics by regulatory authorities, both before and after starting a career in finance.

Importance of mentorship

A mentor’s role is to guide you as you plan and establish your career development goals. By offering you the resources, your mentor makes it easier to achieve your goals. Look for someone you admire to become your mentor; this can be your internship supervisor, one of your college professors, or an acquaintance in finance with a successful career.

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