What is required to get a job in the financial services industry is really dependent upon the particular area of financial services you are interested in. It is worth keeping an eye on the sort of positions that are advertised in financial services to see how your qualifications and experience could be transferred to some of these jobs. Read the selection criteria of online job ads to get a quick overview of the qualifications, skills and experience you would need to qualify for particular roles.
For example, if you are interested in getting a job as a financial services manager, you will find that it is vital to have extensive work experience in the chosen field. The field of investment banking is highly competitive and you would be handling large amounts of money for clients. That said, it is important to have a finance degree or equivalent and some employers will desire Master's degree level qualifications. Long term employment in an assistant or associate role in financial services management will usually be necessary before you can take the next step to a management position.
One of the most important keys to getting a job in the financial services field is the ability to demonstrate a broad understanding of money. You must know how money works, grows, and multiplies in the current economy. Without this basic understanding, you cannot hope to find success in this field. Beyond this, you will need to understand the financial services industry and government regulations influencing it. Some entry-level positions will not require too much knowledge, just a willingness to learn but other positions may well require you to have both breadth and depth to your knowledge and understanding of the field as well as the type of financial services company you are seeking to join.
Another key to securing a job in the financial services industry is to gain relevant work experience. If you are just starting out in the banking industry, for example, you cannot expect to be hired as a bank manager. You may have to start out as a teller, or loan specialist, depending on your schooling. The financial services industry is highly cognizant of the need for experience. If you are still a college student and desire to obtain graduate employment in a financial services organization, you can give yourself a competitive edge by undertaking suitable internships during your college vacations. If employers want both qualifications and experience, internships can help you to get a foot in the door with an entry-level graduate position.
With the current economic plight, the focus on the financial services industry has been heightened. It is more important to obtain references, credentials, experience, as well as the in-house training that many companies offer. Gone are the days when you could just walk across the street and get a job with a major company high up the employment ladder. If you start in an entry-level position, you have to earn your way to the top. Even if you come from another company, most employers are not automatically going to accept the story on your resume. They are going to be very careful about whom they hire and you will have to prove yourself.
It should not surprise you if a potential employer requests permission to run a credit check on you or even a criminal check. A perfectly clean background and credit rating is also a great way to increase your chances of getting a job in the financial services. The opposite is also true. If your own finances are not in order, it is very difficult to expect that you could advise others on financial matters. Likewise, if you have a history of criminal behavior of any kind, most companies will not look at you to handle money.
To be a financial services manager, one needs to have an especially impeccable record and background. This position will be one of leadership and training. For you to lead a team properly, you would need to know the specific niche of financial services you are in backwards and forwards.
The financial services industry can be quite lucrative and rewarding, and the effort of gaining relevant qualifications, undertaking additional training, and work experience is worth the struggle. If you are serious about working in the financial services industry, get the schooling, and keep your nose clean. In the near future, you might be leading a team of brokers, and finding solutions to the world's problems with money.
