A career in finance is very alluring for a few key reasons. Firstly it has the potential to be extremely lucrative. Secondly because it is extremely diverse. Nearly every business on the planet will need to employ some form of financial expert to help the company survive. People often assume that working in finance only entails working for large trading firms. But there are hundreds of different paths your finance career can take.
The main issue is that finance careers are extremely competitive. Finance and business courses at universities have become some of the most over subscribed options. With thousands of new applicants entering the workforce each year. It can be difficult to even secure a job in finance. And even if you do, it takes a lot of hard work to succeed. But there are some tips you should be aware of that will help you propel your career forward.
Always Be Learning
If you look at anyone with a successful finance career they will all have one thing in common. And that is their dedication to learning and expanding their range of skills. In an ideal world you would have decided on entering the finance world while still at school. In that case you will want to start preparing for your career as early as possible.
This is a career path where having the bare minimum of requirements isn’t going to be enough. As we said, it is a competitive field. You need to stand out from other applicants. That means engaging with as many extracurricular activities as possible. As well as ensuring you are getting ahead of your studies. Building a strong CV is the first key step to a successful career in finance.
Once you’ve graduated and secured a job you can’t rest on your laurels either. The finance world is one that is constantly evolving. And you need to stay up to date with the latest trends, innovations, and any relevant global news. So make sure you set aside some time every week to study.
Build Your Network
Networking is one of the pillars of success in most industries. And this is especially true in the finance world. You should be looking at building a solid network of business contacts as soon as you graduate. And even before if possible.
One of the main things you need to do is ensure that you have a LinkedIn profile that is regularly updated. LinkedIn is one of the primary networking tools for people working in the finance world. You should try to connect with as many people as possible. Engage with their content and try to post at least once a week.
Attending different industry events, such as conferences and expos, is a great way to build your network. Here you’ll meet a diverse range of industry professionals and can connect with useful businesses. Connecting with different businesses is essential. There will be many times when you need the services of a specific profession. And having a robust network of contacts will help you get ahead while also being a great way to impress your bosses.
Some key contacts to find are companies offering business transcription services, backend software engineering firms, lead agents, tech startups, and small independent businesses. No matter what sector of finance you are working in, companies like this will be useful to you at some point in your career.
Don’t Be Afraid To Change Jobs
One of the toughest challenges you will face is the divide between maintaining loyalty to a company and finding a new job. People often assume that you should only look for a new job when you are sick of your current one. But that isn’t the case. One of the best ways to get ahead in the finance world is by career hopping regularly.
We should note that there are advantages to staying with one company for a prolonged period of time. Especially if that company has a lot of opportunities for career progression. But as you are getting started out you will find that it is often easier to rise up the ranks by moving to a new company.
The main advantage to changing jobs is that it is far easier to secure a higher salary during the application process as opposed to securing a salary increase at your current job. You will also learn a lot more about the industry by working at a few different companies. But you don’t want to jump around too much. We recommend staying at one job for a minimum of two years before looking for a new one.