Thinking about working in financial services? Here’s what you need to know

18th August 2015 Facebook Twitter LinkedIn Google+ Graduate News and Articles

Jobs in the financial services sector can be varied, rewarding and lucrative, but before you decide to set off along this career path, you’ll need to make sure you’re fully clued up when it comes to the opportunities and challenges you’ll face. So, if you’re thinking of working in this field, here are a few things you’ll need to know.

Competition is intense
Because jobs in financial services are so highly sought after, you’ll face intense competition from rival candidates when you’re applying for roles. This doesn’t mean you should shy away from the sector, but it will require you to stand out from the crowd. Your CV must demonstrate that you have good organisational and numeracy skills and, depending on the roles you’re applying for, you may also need to be able to demonstrate business acumen and impressive people skills. Certain jobs will require you to have specific qualifications too. For example, if you want to become a mortgage advisor, it is beneficial to undergo mortgage advisor training and get a Certificate in Mortgage Advice & Practice (CeMAP). There is also the option of supplementing this with the more advanced Competent Mortgage Adviser certificate (CMAcert).
Building up your resume with further qualifications and work experience will take some time and effort, but it could give your career prospects a major boost.

You’ll need to find your niche
Of course, before you start adding to your CV, you’ll need to decide which jobs you want to target within the financial services industry. You could work towards becoming an accountant, actuary, financial advisor, bank manager, insurance broker, tax inspector, stockbroker, investment analyst or one of a host of other roles.
When you’re choosing which path to follow, think about your natural talents, interests and existing qualifications. Also, consider what you want from your career in terms of daily routine, earnings and potential to progress. It pays off to put plenty of thought into selecting a suitable niche because the decisions you make at this stage could have profound consequences for the rest of your working life.

Impressive career prospects
You may have to work hard to land your preferred positions within financial services, but the rewards could be considerable. The outlook for people working in this sector is looking good right now. According to the Robert Half 2015 Salary Guide, 93 per cent of financial services executives are confident in their companies’ prospects. Meanwhile, 56 per cent of these leaders plan to increase salaries and 36 per cent intend to raise bonuses. So, now could be the perfect time to make your move into this dynamic and lucrative industry.