Tips to Get A Finance Job Without any Experience
Build a Strong Resume
A candidate's resume accounts for creating the first impression on the interviewer. Hence, a powerful resume with no typos, proper formatting, and accurate information should be built. Candidates who are unable to build a good resume must not hesitate from taking the aid of professional resume builders. With a perfect resume, the candidate's likelihood of being shortlisted for the interview are highly increased.
Occupy Internships
Candidates lacking full-time experience in finance, face trouble in obtaining jobs. Generally, only entry-level finance positions are available to such candidates. As most of the entry-level positions don't require experience, the number of candidates with no understanding of the work involved will be substantially high. To stand in addition to the group, candidates can gain some work-related knowledge by trying out internships in finance companies. Internship will help the candidate know how the finance industry works, what are the various sections involved, and how the work flows through these sections, to finally meet customer demands. When interviewers come to understand that a particular candidate is well aware of the functioning from the industry, his chances of getting selected are more when compared with others.
Work for Different Internship Programs
Diversifying areas of internship helps the candidate in gaining perspective of different functions within the finance industry. For example, equity trading, bonds, portfolio administration, commodity trading etc., are all individual areas of the actual finance industry, and each of them has a different type of work involved. Working in different areas during internship can provide a clear picture to the candidate and make it simple to choose a field in the huge finance industry. This may also be a plus point for being selected in the job interview, as it will reflect the candidate's knowledge in various areas and his dedication for the industry.
Build Your Network
Many finance companies offer internship programs to recognize prospective employees for the upcoming year. A good performance throughout the internship can open the doors of companies for the well-performing candidate. Building healthy relations with full-time employees working in the company could be a good way of getting into the business. Apart out of this, going for informational meetings with people working in the helps the candidate to learn about their companies along with other relevant information. While doing so, candidates must maintain a formal approach and do not be too aggressive. Calling up contacts several times or sending them e-mails five times per week can force them to avoid meetings, which will not be great for the candidate.
Read Financial News
Going through financial news may not seem interesting at the start to candidates taking their first step towards the industry for their lack of understanding and knowledge about the whole topic. However, with consistent reading, candidates will be able to stay updated about the happenings in the finance industry, which may be showcased at the right time during the interview. Interviewers are generally impressed with such candidates who keep an eye on what's going on in the industry, even when they're not directly associated with it.
Learn Financial Terms as well as Jargon
During interviews, it is highly possible that the interviewer will request the candidate meanings of various financial terms which are used from time to time in the workplace. Being equipped with the correct answers will leave a mark on the interviewer and increase the likelihood of being selected, even if the candidate does not possess experience.
Prepare for the CFA Exam
The Chartered Financial Analyst (CFA) is really a reputed designation in the finance industry. A candidate needs to appear for three exams and gain four years of relevant experience to do this designation. Every level of exam needs the candidate to satisfy 250 study-hours. Therefore, any candidate appearing for the CFA exam is rated a little higher than others, as finance professionals know what it takes to become Chartered Financial Analyst.
Improve Communication Skills
A candidate who is able to present his thoughts while watching interviewer clearly, is better than the ones who neglect to express themselves properly. Improving communication and presentation skills can help the candidate to perform better in the interview. It is best to practice commonly asked questions so that any blunder throughout the interview can be avoided. An interview lasts about 20-25 min's. It is during this short time period, when great candidates are selected and not-so-good ones are rejected. Therefore, it is better to be prepared beforehand for the actual face-to-face session.
Jobs in the finance industry depend about the stock market. When the market is booming, jobs in the market boom as well. And when the market takes the bearish turn, the number of jobs in the marketplace also reduces. Whatever be the situation, getting a good entry-level job isn't easy for candidates with no prior industry experience. Nevertheless, keeping the above things in mind will surely assist candidates in cracking interviews and taking their first step toward creating a successful career in finance.