Tips for Breaking Into Finance and Banking

Published on: 31 January 2019 Last Updated on: 08 August 2019
Finance

Many people with an interest in money find it quite rewarding (and profitable) to pursue a career in finance and banking. But not everyone gets there on the same path. For one thing, there are many careers in the industry, such as management, financial advising, auditing, and lending.

So, depending on what field you want to pursue and where you hope to work, your career path may look a lot different than someone else’s. With that in mind, there are a few tips you need to know to help you break into almost any field within this sector.

Majors are less important than you think:

Many college students get hung up on narrowing down their major in college to match the specific career they currently want. But the truth is that while you do need a degree, the major can vary quite a bit. In fact, many people start out with a major in accounting and end up with economics degree jobs. Or they might start with a major in finance and end up in economics.

Some people even break into the field with unrelated degrees, like psychology or communication. The point is that most managers in the money field know that the skills and knowledge you obtain from any area in business can translate to the others.

You might start at the bottom:

Not all fields are the same, but certain ones (such as banking) rely more on seniority than your level of education. In fact, many people in the banking industry started out years ago with very little education and worked their way up. Other fields also require working your way up, but they may not require you to start in the lowest positions available.

Some sectors in finance and banking will allow you to work your way up very quickly or even start out in management or mid-management positions. Just remember to stay humble, learn all you can, and work hard on even the small jobs you’re given.

Your resume needs to stand out:

While this is true in any industry, employers in the finance and banking industry are looking for specific skills. And depending on where you live and work, your resume could find itself at the bottom of a very big pile. Aside from a simple, professional format, you need to use the right lingo to get your resume seen. Each industry has its own set of particular skill sets that make someone a quality candidate. And banking and finance are no different.

In fact, because the applicant pool is so educationally diverse, your skill set may be the only thing that matters. The ability to communicate well, for example, is at the top of the list. Hiring managers also look for analytical ability, problem-solving skills, and capacity for innovation.

Networking should be your priority:

Networking isn’t just for business professionals looking for more client leads. It’s also one of the most effective ways to land your first job. About 70 percent of job seekers are hired by companies with which they have connections. And networking doesn’t have to be as hard as it sounds: it’s simply connecting with people in the industry.

You can do this by reaching out on social media to individuals or groups in the field you want to work in. You can amp up your LinkedIn profile to appear as an active job-seeker in the industry. You can take advantage of all the college events where professionals in your degree field will be meeting up. And you can simply ask people you know about their careers and connections in banking and finance. You’ll be surprised at how willing most people are to help you out.

Read Also:

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Financially Stable

How to Become Financially Stable Before Age 30

Your twenties can be some of the most exciting years of your life. You're young and experiencing life, but you have to remember that decisions you make now will affect the rest of your life. One of the most common questions people ask in their twenties is how to plan for the future. Check out these useful tips to learn some of the best ways to start off your life and learn how to become financially stable for the long term. Make Plans: This gets the top position because it's the most important. One characteristic you'll find among the wealthy is that they plan things in advance. They set long-term goals and create short and medium-term plans to make them happen. The act of creating real plans makes it more likely that you'll become financially secure. This isn't only about your career and investing, though those are important. Set personal goals for self-improvement and growth. Learn how to keep yourself accountable to your plans so that they become reality. Start by figuring out where you see yourself in five years. You should have a real thought about what you want to happen in your career and personal life. Set shorter term goals to help you accomplish your five-year plan. These can include things like: Pay off student loans Get out of credit card debt Save up for a down payment Visit somewhere exotic Buy a car Many of the plans you need to make relate to enjoying life and your lifestyle. By figuring out the kind of life you want to lead, you learn more about the steps you have to take to achieve it. Budget: Once you have plans, you need to set a budget to make them a reality. The thought of making and keeping a budget intimidate a lot of people. Knowing where your money goes is the easiest way to start becoming financially stable. Sit down and write out how much money you make every month. Include your salary as well as any side incomes you have going. Once you know what you make, write out all your fixed expenses next to them. These will be things like your rent/mortgage, car payment, health insurance, and car insurance. Always include your savings in fixed expenses. What you have left over is the money available for food, gas, entertainment, and other things. Always try to build in some 'funny money'. This is a small amount you can spend on literally anything you want. Having a little flexibility every month makes it easier to keep your budget going. Learn How to Become Financially Stable: Being financially literate is one of the most important things you can do to build your longterm finances. It's pretty much impossible to build wealth without knowing how personal finance works. There are lots of online resources you can use to do this. Start with the basics: budgeting, investing, and finance terminology. It's important to know enough about finances to tell when something is too good to be true. If you don't spend some time to learn how finances work it's almost impossible to become financially secure. You don't have to learn advanced finance and trading techniques, just enough so that you can recognize where your money is going and how to make it work for you. Invest Early and Often: Albert Einstein once said that compounding interest is the most powerful force in the world. It doesn't matter what you invest in, only that you invest early and let your gains compound. Historically the stock market goes up on average. By putting your savings in broad basket funds you can generate consistent growth over the decades. If you don't want to spend too much time you can use a fee-based financial planner to help. Look for low fee index and exchange-traded funds to maximize your gains. Take Some Risks: Your twenties is the best time to take some risks for your future. You're young, you aren't tied down, and you've got nothing but opportunities ahead of you. Start with career risks. You can often get significant pay or benefit gains by moving to a top job. When you're young you don't have the baggage that comes with kids, houses, and rooms full of stuff. If you get a great opportunity across the country or across the world, take it. Don't forget to look for other big opportunities. Starting your own business is still one of the best ways to build real wealth. Your twenties is also the time to put your investments into high risk high potential reward mode. Look for emerging industries and markets that have great potential for large gains. You can check out industry sites and investor groups for new technologies, such as NICI for cannabis investments. You'll see some losses in many of your investments, but even one or two big winners can provide you with significant gains. Make Saving Automatic: One of the best ways to continue saving and investing is to make it completely automatic. There are lots of apps and employer programs available that will set aside part of your income every pay period. This allows you to save and built wealth without having to think about it. When you set up your budget, leave this money out to the side. If it was never something you're spending you won't even miss it. An employer-sponsored 401k is a great way to do this for retirement planning. Many employers offer a match if you invest. This is literally free money for saving. You also get significant tax benefits by investing this way. Remember to Have Fun! Your twenties are the best time to experiment and discover who you are and what you want from life. Take risks, make plans, and build the kind of life you want to live. Think about how to become financially stable, but don't obsess over it. If you liked what you read here, check out some of our other interesting and informative articles to learn ways to improve yourself. Read Also: 3 Must Know Accounting Tips To Help You Finance Correctly Everything You Need To Know About Term Insurance Plan Premium

READ MOREDetails
bitcoins

How To Make Money From Bitcoins In 2020

Bitcoin is a Digital Currency that first burst out into the scene in 2009. The world-famous, yet highly anonymous Satoshi Nakamoto created a computer script/algorithm, which helped in generating Bitcoins once when people were able to solve complex mathematical equations. Over the last few years, Bitcoin mining has become quite impossible for the vast majority of the people interested in Bitcoins. This is because it involves huge computational systems and unbearable power tariff costs. Even though there is a consensus about Bitcoin being a credible platform to invest in for the future, there are debates about how to make money from it. In this article, we will look at the top three ways in which you can make money from Bitcoins. The processes range from mining to trading, to something much more innovative and new in the crypto currency world. How To Make Money From Bitcoins In 2019: 1. Bitcoin Mining: The One for the Experts If someone would have asked me to write this article in 2014-15, I would have stated that Bitcoin mining is the only way to make money from Bitcoin. However, in the past few years, Bitcoin mining is becoming far too expensive for normal human beings to undertake. With the top computer systems or ‘rigs’ as they are called going upwards of $10000 USD and power tariffs of $3000-5000 USD for a single bitcoin, mining is not too high on the list of many interested in Bitcoin. Many tech experts are willing to invest and create proper mining farms or ‘cloud mining’ facilities to extract Bitcoins. While the complex problems, expertise, and skills might appear to be easy for certain individuals, most of us would want to explore other alternatives. 2. Bitcoin Trading: A Smart Alternative to earn money As we all know, Bitcoin is a financial product. As with all financial products, they can be valued, traded and speculated upon. Bitcoin Trading Platforms work in the exact same manner as stock and share trading platforms. All you need to do is create an account on one of the better trading platforms, deposit a trading fee, which will be used by you to make trades and let the platform’s algorithm guide you on the best trades of the day. The best platforms like the BitcoinEra help in easy, secure and expert advice that is processed through millions of algorithms. They work to bring to clients the best decision-making that can be made. The majority of the population who want to make money from Bitcoins use Bitcoin Trading Platforms. You can log in today to start earning to become the next millionaire. Login here: Bitcoin Era Login 3. Pursue Etherium and Litecoin instead of Bitcoin According to the popular Crypto site, Investing, there are more than two thousand cryptocurrencies in the world. Bitcoin is definitely the oldest and most popular crypto in the world. However, miners are also turning to Ethereum and Litecoin as they work on the same principles. Ethereum is valued at over twelve billion dollars, with Litecoin touching nearly two billion dollars as of 2019. However, Bitcoin continues to be the undisputed leader of the cryptocurrency world. This is why most people concentrate on Bitcoin rather than any other cryptocurrency. Conclusion: Even though digital and cryptocurrencies are thought to be the future of the world, there still exists volatility and uncertainty in the markets. Governments and international financial institutions frequently raise alarms against cryptocurrencies, with some governments even banning them altogether. Cryptocurrencies like Bitcoin have also been accused internationally of helping and aiding in deep web arms, drugs and human trafficking illegal activities. As most of it is too complicated and untraceable, cryptocurrencies like Bitcoin are being used to fuel terrorism, sex trade and destabilize countries and economies. Which according to you is the best way to make money from Bitcoins? Do let us know in the comments section below. Read Also: Bitcoin Profit Review 2019 Millennial Investors Will Drive Bitcoin Price Growth In 2019

READ MOREDetails
Reliable Investments

5 Reasons Why Bitcoins Are Considered Reliable Investments

Today Bitcoin has become one of the most reliable Cryptocurrencies to provide you with more returns from your investments. However, proper planning and execution can make things easier for you. It is one of the most reliable investment opportunities that is viewed in the global market scenario today. Prices of Bitcoin are increasing at a rapid speed. This Cryptocurrency is showing a bullish trend in the global Cryptomarket.   Why Is Bitcoins A Reliable Investment Now? There are several reasons why Bitcoin is now considered as one of the reliable investments in the Cryptomarket. Let’s find out the reasons to understand the facts. One of the essential factors for the increase of confidence in Cryptocurrency is its higher market capitalization rate. 1. Trading Volume Have Become Higher When you start your trading in Cryptocurrency, then your volume of the trading returns becomes higher. For example, during the pandemic, the prices of Bitcoins have shot up due to the fall of fiat currency prices.   It will help you scale up a higher market capitalization rate and increase the investors’ conversion. From the bitqt app, you will get profitable trade signals of Bitcoin pricing. This app helps you to make the right investment decisions. 2. Increased Awareness Today, the rate of awareness of Bitcoin has increased a lot. As a result, governments of both developed and underdeveloped countries of the world are now ready to adopt Bitcoin as their prime medium of exchange.   Countries like the USA, UK, China, India, Australia, and Ecuador have permitted the trade of Cryptocurrency in the global market. Gradually, Bitcoin is becoming a global currency. It can produce more billionaires in the upcoming years. 3. Global Acceptance The global acceptance of Bitcoin is increasing at a rapid pace. Many third-world countries of the world are also now accepting Bitcoin as their prime mode of exchange. Therefore, investors need to stay aware of Bitcoin’s market trend. The global trend is on the rise for Bitcoin. It is now one of the premium currencies that can help your business to grow. The best part of this Cryptocurrency is that it has a constant value all over the world. You will have the scope to earn more in a short time frame. Proper execution of the planning can make things easier for you. 4. Diversify Your Investments The best part of Crypto trading is that you can diversify your investments in a short time frame. In addition, it can help you to increase your returns from your assets. Bitcoin is now showing the most positive profitable trends in the global market. Therefore, risk scattering is an essential part of investments, and in Crypto-trading, you can perform this task efficiently.   You have to make sure that you do not forget to track the price margin of Bitcoins. Execution of the plans and implementation of the perfect strategy can make things easier for investors. 5. Gained The Status Similar To That Of Gold Today, Bitcoin has got the status of gold. The main reason is that it is not a  currency anymore. Rather it has become an asset whose value is relatively high. Therefore, the application of the right strategy can make things easier and effective for you. Whenever you make your investments in Bitcoins, a bearish approach can work well for you. Buy Bitcoins when their prices are low and reserve it unless their price shoots up. Then, it can help you to earn more from Bitcoin transactions. Analyze the market well before you make your investments. Final Take Away Whenever you want to invest your money in Bitcoins, ensure that you make the transactions correctly. Prepare your strategy first before making your investments in Bitcoin. Bitcoin is a highly volatile Cryptocurrency, so make your investments after considering all the aspects of the trading market that can make your investments worthwhile. Read Also: What Embracing Crypto-Backed Lending Means for the Finance Industry Types of Bitcoin Trading with Parameters Investing In Bitcoins: 5 Things You Need To Know

READ MOREDetails