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Finance Jobs - Finance Career

Many people are drawn to money. Not just to have more of it (who doesn't?), but to actually participate in the finance industry and make a career out of it.

Did you know that some of the most successful people in finance and investments never pursued finance in college? Did you know many never even went to college? There are people who have built successful careers in investments or the financial industry grew and learned on the job.

Like I said, there are many branches to this tree. Accountants, CPA's, and analysts must go through significant educational requirements before finding finance jobs. While these careers are built on heavy education and commitment, there are other areas of finance that do not require stringent or specialized education before entering the job market.

Stockbroker and Financial Advisor jobs

Stockbrokers, Registered Representatives and financial advisors are basically salesmen in the finance industry. That is not to demean what they do, it's actually true. Once you are a licensed stockbroker and working for a firm, you are a phone broker. Many of the top firms will require 2 or 4 year degrees before hiring you for a job, but a finance or investment related degree is usually not required. Many smaller firms do not require college at all. They are looking for brokers with talent, drive and the ability to communicate and persuade. If you can convince the firm that you can earn money, you can get in. There are successful stockbrokers and advisors who make $200,000 or more and many of them were car salesmen, insurance agents, collections salesmen, real estate agents etc. Training is ongoing and most should decide after 6 months or one year whether this is the finance career or job they want.

The downside to this career, is the compensation you earn. It is largely, if not exclusively - commission or fee based. It's a sink or swim finance career. It is not for everyone, but the requirements are easier, so if you are good at it - you're all set!

Mortgage Broker Career

When Wall Street began losing jobs in late 2000 and for several years after, many brokers and advisors began careers as mortgage processors or mortgage brokers. The mortgage finance industry was booming. With interest rates low and the economy slower, homeowners were looking to take advantage of the equity in their homes or looking to refinance. People who were in these jobs at mortgage companies made a lot of money. People had needs and the environment was ripe for big business.

The problem with mortgage finance jobs is that it is a very cyclical business and it relies on constant new business and referrals for the brokers to earn money. If I had my choice overall, getting a job in the mortgage broker business would be one of my last choices. Good times are real good. Bad times are real bad.

Insurance Jobs and Retirement Finance Careers

With the population of the country living longer and the trend of big companies providing attractive retirement plans on the decline, insurance agents, retirement and estate planners are doing well. Building a finance career and getting jobs in these areas can be very rewarding and the trends are on your side.

There are many areas of finance and investments. You may end up being a bond broker, a trader, a mutual fund broker or something else. The quickest way into a good investment or finance job or career is to get a job as a financial advisor or broker. You have to put in the time and effort, but the openings are there and the experience you gain working with client investments will serve you very well going forward. Either you make a great career doing just that, or you platform that job into another area that better suits you.

The finance industry can be tough, it is competitive and you must stand out, but it's better than digging ditches - usually!

Good Luck!

About the author: Nick Hunter is the President of American Investment Training (AIT) http://www.aitraining.com and the owner of http://www.brokerjobs.com - a finance career information site with job links and educational resources.

Author: Nick Hunter


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Tips on finding a Job!

 

Below are tips to help you with any job search.

 

Network: Most people find jobs through word-of-mouth. Talk to the people you know, including relatives, friends, professors, and former co-workers.  Let them know that you are looking for work; ask their advice; seek out introductions to people in the field that interests you.

 

Customize: Create a custom version of your resume for each job or industry that interests you. Your resume is usually an employers first contact with you. Make sure it highlights your skills that relate to the job that employer is seeking to fill.

 

Know yourself: Identify your skills. Work on communicating them effectively. You need to be able to lay out your skills, and explain how they relate to the job you're seeking. 

 

Organize and prioritize: Make a list to help keep track of your job search efforts. Preparing a list also helps you to organize your priorities and keeps you focused on your goal -- finding your perfect job.

 

Do your homework: Read the newspaper and trade journals to remain current on developments in your field of interest. Knowing the latest trends and mergers will help set you apart from other candidates in an interview. 

 

Practice, practice, practice: Preparation is the key to a successful interview. Know your skills and be ready to illustrate how they relate to the job in question. Practice with a friend to get comfortable with your responses and to formulate strong answers to questions you might not anticipate. Remember you are selling yourself so practice being a great salesperson.

 

Follow up: Follow up on all leads as soon as possible. If you don't, your competition may. Try and fallow up at least once to twice a week. You want to stay fresh in their mind and at the same time show how much you want the job. And, following an interview, always send a thank-you note the same day.

 

Keep your head up: Looking for a job can feel like a job in itself.  Don't let it get you down. With patience and hard work, you will find the right job.

 

Last but not least: Dress the part! Always dress professional. Now, you may not want to wear a 3 piece suit when applying for a position as a forklift operator but at the same time never apply or ask for an application wearing shorts, T-shirts,  flip-flops...and so on. Be well groomed, wear nice clean cloths and always remember that you only have one opportunity to make a first impression.