Thinking of a Career in Finance? 5 Steps to Get Started
The world of finance can seem overwhelming when you are first stepping onto the career ladder, whether you have chosen to become an accountant or a financial analyst. However, if you are looking to pursue a career in finance, there are a number of established steps that you can take to help you land your first job.
·Decide on Your Career Path
Firstly, there is a range of different positions within the finance sector, and you should research each of these to find a pathway that matches your skills and interests. Some of the most common jobs in the finance industry include data analysts, consultants, or tax associates, which can then lead to managerial opportunities in the future. There are many other career pathways that you can choose, however. For instance, if you want to work for yourself, you should consider becoming an accountant or financial planner, whereas if your salary is one of your priorities, you should consider a job as a financial manager, whose salaries are $127,990 on average.
·Obtain a Finance-Related Degree
Most careers in the finance industry will require you to have obtained a degree in an economics-related subject. This will ensure that you have the correct level of knowledge and expertise to perform your position’s responsibilities. Although some companies look for specific degrees, you should opt for basic qualifications in accounting or finance in order to apply for your desired job openings. If you want to increase your level of qualifications, you should consider taking an online MSA degree, which can help to build on the knowledge that you have gained during your Bachelor’s, including business strategy and emerging technology.
·Find a Graduate Program
Once you have graduated, the finance industry offers a variety of graduate programs and internships which you should consider applying for. These fast-track schemes have been specially developed to help you train for a career in the finance industry. Often, the companies that run these schemes will also offer you a job opportunity after your tenure on your program, allowing you to work your way up the career ladder within the company you have interned with.
·Consider an Apprenticeship
Alternatively, if you are not able to take a Bachelor’s or Master’s degree in finance, you should consider applying for an apprenticeship or school leaver program. These are the best options for those who want to combine their studies with practical, real-world experience, as these give you the opportunity to immediately work for an employer on the completion of your high school examinations.
·Get a License
In the majority of finance professions, such as becoming a financial advisor, you will need to obtain state licensing before you are able to apply for available job vacancies. Licensing, in particular, must be held by those that are planning to sell investment products, rather than solely give advice to clients. If this is the case, you will need a Series 6, 7, 63, or 65 license depending on your business and the commissions that you receive.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.