The degree in finance or business is a condition for getting jobs
in the financial industry, but what if you don’t get
it , and by heart want to work in this area?
But it is more difficult for someone
with a non-financial degree to get a job in finance, there’s still hope.
Every organization wants elegant, dedicated and goaded employees who can do
the job well. A finance degree will develope skills such as financial modeling and analysis, but may not do much to offer other
skills mandated for success in almost any profession, such as communication, analytical
and time management.
The following are few ways to reveal to probable employers that you possess
the skills they craving in an employee, as well as the infatuation necessary
for a successful career in finance. We will rate each of these by the degree of
difficulty to achieve (for example, signing up for a financial course is easier
than obtaining an internship) as well as the positive impact it may have on
getting you closer to your objective of embarking on a finance-industry career.
Learn the Lingo
A person who is interested in a financial career, there’s no excuse for him
for not knowing Wall Street lingo. If he doesn’t know
the difference between NPV and DCF,
then he should consider learning financial terms and concepts by browsing the
extensive dictionary of terms at sites like
Investopedia or reading The Wall Street Journal.
Without knowing financial language
may make it almost impossible for a person to pass the preliminary interview
stage who is a non-financial graduate. This is because an interviewer will
generally assume that an applicant for a finance position is knowledgeable
about finance, regardless of his or her educational background.
Round Off Your Education
If you are graduated with a degree in
a subject other than finance, you can always equalize the situation by taking
relevant courses with an emphasis on finance or business at the undergraduate
or post-graduate level.
For an undergraduate , courses in economics, accounting or financial analysis are great options. For
post-graduates, a better option is to go for PGDM, since its substantial
finance component serves to level the playing field between finance and
Expand Your Knowledge Base
Relevant knowledge is obtained not only through a college degree, but there
are plenty of other resources available such as your local library or internet,
to deepen your financial knowledge. These resources may be free or available on
a paid basis from course providers. Doing self-study in a tough field like finance demonstrates
a number of desirable traits in an employer such as hard – working and passionate.
Use a Trading Simulator
There are number of websites, Such as Investopedia, which have trading
simulators that can be used to construct mock portfolios. By using a trading simulator you
will be forced to track the markets and keep side by side updates of
market developments. This is a great way to impress a potential employer with
your trading skill or at least your market knowledge, with very little
investment on your part, aside from some time commitment.
Link Up with a Mentor
Taking help with a mentor is another way of starting a financial
career. A mentor is the one who thinks highly of your capabilities and is always
ready to help you achieve your goals. A
potential mentors can be your favorite professor at college, a family friend or
relation with a successful career in finance or someone you know in a
professional capacity, such as a supervisor during a previous internship. Never
hesitate to approach the one whom you think can help you in searching a job for
Score a Meaningful Internship
Doing best in internship is one of the best ways to lock yourself up in a prominent
full-time job in finance, as many Wall Street firms choose their new hires
from the ranks of their summer interns. At the best business schools, an
estimated of one-third to half of PGDM students go to work for a summer
employer after graduation.
But since obtaining a paid internship in finance is
likely to be very difficult for a non-financial graduate, one must consider
other options such as an unpaid internship or volunteer work with a broker.
The opportunity cost that arises from doing
such unpaid internships or volunteer work may be offset in due course by the
higher earning potential of a finance career.
Do Your Best to Get Your Foot
in the Door
Target HR departments for résumés, expand your job search to
other locations, use your network to check for new vacancies – in short, do
everything you can do to get your foot in the door of a financial institution. Scoring an entry-level
position with a financial company, even in a non-finance role, may open doors
to other career paths in finance down the line.