Finance can be an intimidating industry, especially at the entry level where there is a steady influx of strong candidates with Ivy League degrees and high GPAs. To make it in such a competitive job market, jobseekers need to step it up and find ways to differentiate themselves from the pack. Follow these tips by Shooin experts to increase your chances of breaking into the finance job market, as a new graduate or even before you get your degree.
1. Be an Early Bird
The trick is to become immersed in the industry early, preferably before you even start college. If you can land your first finance job, no matter how small, in the summer before freshman year, you’ll have four summers’ worth of finance work experience by the time you’re due to graduate. It’s totally okay to start small, even filing papers for a local investment advisor counts. In your sophomore and junior years, target summer analyst and internship programs offered by major banks. These are usually designed to act as talent pools for future entry-level hires.
2. Bag an Internship
Following from the first tip, finance companies usually consider internship experience a prerequisite to successful full-time employment. Internship programs require little prior knowledge so they are easier to land than real jobs. They can also provide you with valuable training and networking opportunities, references and something tangible for your resume.
3. Switch it Up
Having some diversity in your internships will give you perspective and a unique insight into the interconnected workings of the finance industry. It will also help you compose an authentic answer to the ubiquitous interview question, “why investment banking/equity research/other finance field you’re applying to.” It will give you a definite edge over other candidates with generic responses like “I want to learn.”
4. Learn the Lingo
The finance industry is all about jargon and knowing the meaning behind terms like MBS, EBITDA, and the federal discount rate. So it certainly helps if you are a business, accounting, or finance major. But don’t worry if you’re not. You can still pick up all the basics by following financial news and subscribing to publications like the WSJ, Financial Times and The Economist.
5. Get Certified
The CFA, CFP, and CPA designations all hold significant weight in the finance industry. The amount of time and dedication required to pass (min 250 hours per exam), shows hiring managers the strength of a candidate’s work ethic and commitment to a career in finance. So having at least Level 1 under your belt before you graduate can make you stand out from a sea of other entry-level candidates with education and experience similar to yours.
6. Find More Ways to Amaze
In an interview, you never know what might resonate with the hiring manager. So why not lift your chances to the max? Bring work samples with you to the interview, showcasing your writing, presentation, and basic modeling abilities. Be friendly, confident, and show off your personality. Most of all, make them see why finance is something you are passionate about!
Need help landing a finance job or internship? Shooin can match you with a mentor working in your target firm who will help you fix your resume, provide company insights, and conduct mock interviews so you can be ahead of the competition and land your dream job. Sign up for a 30-minute free career consultation by sending your resume to start@shoo-in.com.
