How To Start A Career In Finance

how to start a career in finance

Finance is an integral part of any economy. Therefore, having basic financial skills can significantly improve your wealth prospects. While it will help you with money management, it also exposes you to lucrative, exciting, and monetarily rewarding career prospects. Jobs in the financial field are some of the most lucrative and stable options if you learn the right skills, get the right experience, and continue adapting to market changes. 

On that note, here are five practical tips on how to start a promising career in finance. 

5 Ways To Start A Career In Finance

Focus On Your Studies 

While your educational background plays a crucial role in starting a finance career, you can still build a promising finance career without a background in finance. However, you'll need to target your future studies. For instance, if you have a background in information technology (IT), you can opt for an MBA. 

Combining an MBA with your IT background will make you a hotshot in the job market. A good example is creating a cloud contact center software that improves customer interaction and customer relationships in finance businesses. You see, customer service and customer satisfaction are taking center stage of businesses in the finance sector, and a cloud contact center solution goes a long way to make this possible. 

Business owners can create custom experiences that improve the customer journey with advanced features like omnichannel routing, dialpad, interactive voice response systems (IVR), call recording, call volume, and speech analytics. Also, these businesses can easily access and utilize customer data and respond to clients in real-time on any digital channel—all thanks to its CRM integration feature. 

Furthermore, with this workforce management software and its on-premise solution, tracking a Salesforce and support team’s agent productivity and agent activity from a single dashboard is easy. So you see, there's so much the financial industry can benefit from someone with an IT background. 

Immerse Yourself In Financial Literature 

A pivotal step to succeeding in any field is to be able to speak their language. Therefore, you need to immerse yourself in all kinds of financial literature to familiarise yourself with all the technical jargon used in finance. For example, you should know terms like MBS, BPS, and federal discount rates. 

Financial literature will improve your communication skills and put you in a better position to offer more accurate financial advice. For instance, if you understand how to get a new balance transfer credit card account, you can easily guide clients looking to improve their creditworthiness, credit score, or credit history. The best balance transfer credit card company typically provides lower interest rate and intro APR offer to customers. Also, the cardholder doesn't have to worry about a balance transfer fee and high-interest rates with a balance transfer card. 

Sign Up For An Internship 

Internships are a great way to gain valuable insights into the financial industry. It gives you a real sense of what the finance world is all about. You'll also be able to develop work ethics, gain hands-on experiences, and increase your network. All these benefits will go a long way in paving a successful financial career. 

Many people shy away from internships because they seem like free work. However, if you dedicate yourself to your internship role, you stand to gain a lot of knowledge and hone your skills. Besides, most internships these days are paid, so make sure you actively pursue an internship. Even if it is unpaid or it pays less than what you could earn with a less relevant temporary job, the experience and networking opportunities you gain more than make up for the low payment.

Try To Work With A Mentor 

Having a mentor at the start of your financial career journey can help you avoid costly mistakes many professionals make. You see, a mentor’s role is to guide you in your journey by providing you with both tangible and intangible resources to boost your skills and confidence. To find a mentor, you can ask your internship supervisor, college supervisor, or anyone with a successful financial career. 

Network And Attend Career Fairs

While it's possible to have a career in finance without networking, you won’t get far. Therefore, if you want to excel, you'll need to commit time to network and meet people in the same field. It'll help you build invaluable connections that can boost your career prospects. Career fairs are an excellent place to start building your network, as it provides the opportunity to interact with company representatives and your competitors.

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