Career Opportunities

Here are some easy steps to transition to a career in finance

To change your career path in this highly dynamic and competitive era is actually a very hard decision that may cost you a lot. It needs time, effort, and firm determination along with patience. 

Not only do career transitioners face a lot of difficulties in getting good opportunities, but the external advice doesn’t help either.

If you are fed up with your family and friends telling you that changing your careers is a bad idea, then it’s perfectly normal. (after all, what’s family, but a group of people holding you down! jk!)

But if your instincts tell you that a career transition is what you need,

then go ahead!

Remember though, finance as a profession is difficult. Especially if you are starting from scratch.

Planning is the most important factor that could help you in the process of transition to finance as a career choice.

As the great philosopher, Confusious wrote, “ failing to plan is planning to fail”. 

Let’s delve deep into the topic at hand.

How to switch your careers to finance? 

So, you have decided, huh?  

Well then, let’s first get educated a bit about Finance.

Finance is an exciting and gratifying career that is usually quite lucrative. It draws ambitious young people with a knack for economics, accounting, and the ability to understand and process complicated financial concepts and data quickly and intuitively. It’s all about money management.

Having cleared that bit of info, let’s dive into what exactly you need to know before transitioning.

Evolving the key skills of finance

Every domain has its particular skills and finance is not an exception in this regard. There are certain skills pertaining to the finance field. 

Non-financial qualities such as good communication, interpersonal skills, a passion for problem-solving, and the capacity to handle a lot of statistics and details are also important for those who succeed in finance. 

Assessing your skill sets and personality attributes is a wonderful first step in determining whether a career in finance is suited for you. 

This step can be completed by taking an online career assessment or contacting the career services office at your alma mater. You could even want to hire a professional career adviser, who can help you assess your talents, limitations, and personality qualities.

Also read, How to pursue a career in Equity Research.

Make every possible effort to learn the relevant skills needed in your new career.

Research in finance by informational interviews.

The next step in your move into a finance job is to study as much as you can about your topic of interest, ideally by chatting with someone who currently works in the sector. 

These discussions, also known as “informational interviews,” enable you to learn more about the possibilities available to you based on your background and interests.

Actually talking with an experienced person can give you more knowledge than books. They are living embodiments of knowledge and thus can disseminate it much quicker.

You can begin by approaching people in your current professional and social networks and asking them to suggest you to others in their network with whom you can speak. 

You can also conduct basic searches for people with the career you want who may have attended your alma mater or with whom you share a shared connection.

Apart from it, you can always browse the internet, take up online resources and upskill yourself by conducting extensive research.

Patience is your friend while transitioning

Well, the most difficult part of career change is keeping up your confidence during the bad times. 

Whenever you face any hurdles, it becomes quite easy to give up the career transition and let go of your dreams.

If your efforts to shift into finance do not yield quick results, do not become disheartened. Continue to network, interview for appropriate employment, then network some more. Solicit feedback from everyone who speaks with you so that you can change your approach as needed.

If you continue this routine then success is not very far. Remember those who are experienced financial experts are also humans like you. Six months are more than enough to prepare you for such practices.

A good way to get a head-start in the finance field is to learn Python for Finance. It would help you leverage Python technology to analyze and model financial data.

Get a good resume for a finance job

A new career calls for a new resume!

You should note that when you transition into a new career, you have to remove and edit a lot of things out of your old resume.

A clear and well-written career objective stating your skills and interest in the field would do wonders.

A big advantage you could extract as someone who is transitioning careers is by writing in your resume objective about why you have decided to transition your career.

It helps build authenticity and credibility in your character and shows that you are capable of making strong decisions for your career.

Finally, keep in mind that you have to let go of all your previous work experience and only mention past jobs that have some slight relevance to your current career goals.

In the end, getting your first hit at a finance job should be your primary aim. After that, you can keep growing while learning at the job.

Hope this information helps you make a good career decision.

Thanks for Reading!

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