Getting into the finance industry is difficult for someone without prior work experience. However, every problem has a solution. We’ll take the opportunity to share what experts say about getting into the industry without experience.
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Finance is one such industry that is difficult to get into, especially for undergraduates and people switching from other sectors to finance. Such candidates lack experience, which finance companies consider a key factor when hiring new employees. Several resumes reach the interviewer’s desk, but only the candidates who display reasonable work experience or have something exclusive are called for the interview. During the interview, a candidate without work experience can impress the interviewer to enter the industry. Experts often get several questions from candidates interested in making a career in finance. Here is what they recommend.
Tips to Get a Finance Job Without Any Experience

Build a Strong Resume

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A candidate’s resume creates the first impression on the interviewer. Hence, a strong resume with no typos, proper formatting, and accurate information must be built. Candidates who cannot make a good resume must not hesitate to take the help of professional resume builders. With a perfect resume, the candidate’s chances of being shortlisted for the interview are highly increased.

Take up Internships

Candidates lacking full-time experience in finance face difficulty in obtaining jobs. Generally, only entry-level positions are open to such candidates. As most entry-level positions do not require experience, the number of candidates without knowledge of the work will be substantially high. To stand apart from the group, candidates can gain work-related expertise through internships in finance companies. The internship will help the candidate understand how the industry works, the various departments involved, and how the workflows through these departments finally meet customer demands. When interviewers know that a particular candidate is well aware of the functioning of the industry, his chances of getting selected are higher than others.

Work for Different Internship Programs

Diversifying internship areas helps the candidate gain perspective on different functions in the finance industry. For example, equity trading, bonds, portfolio management, commodity trading, etc., are individual areas of the finance industry, and each involves different work. Working in other places during an internship can give a clear picture to the candidate and make a field easy in the huge finance industry. This will also be a plus point for being selected in the interview, as it will reflect the candidate’s knowledge in various areas and his dedication to the industry.

Build Your Network

Many finance companies offer internship programs to identify prospective employees for the upcoming year. A good performance during the internship can open a company’s doors for a well-performing candidate. Building healthy relations with full-time employees working in the company can be a good way of getting into the business. Additionally, going for informational meetings with people working in the industry helps the candidate learn about their companies and other relevant information. While doing so, candidates must maintain a formal approach and try not to be too aggressive. Calling up contacts several times or sending them e-mails five times a week can force them to avoid meetings, which will not be good for the candidate.

Read Financial News

Financial news may not initially seem interesting to candidates taking their first step toward the industry. This is because they lack understanding and knowledge about the whole subject. However, with consistent reading, candidates can remain updated about the happenings in the finance industry, which can be showcased at the right time during the interview. Interviewers are generally impressed with candidates who keep track of what’s happening in the industry, even when not directly associated with it.

Learn Financial Terms and Jargon

During interviews, the interviewer may ask the candidate the meanings of various financial terms used now and then in the workplace. Being equipped with the correct answers will leave a mark on the interviewer and increase the chances of being selected, even if the candidate does not have experience.

Prepare for the CFA Exam

The Chartered Financial Analyst (CFA) designation is reputed in finance. A candidate must attend three exams and gain four years of relevant experience to achieve this designation. Every level of the exam requires the candidate to complete 250 study hours. Therefore, any candidate appearing for the CFA exam is rated a bit higher than others, as finance professionals know what it takes to become a CFA.

Improve Communication Skills

A candidate who can present his thoughts before the interviewer is better than those who fail to express themselves properly. Improving communication and presentation skills will help the candidate perform better in the interview. It is better to practice commonly asked questions to avoid blunders during the interview. An interview lasts about 20-25 minutes. During this short period, good candidates are selected, and not-so-good ones are rejected. So, it is better to be prepared beforehand for the face-to-face session.

Jobs in the finance industry depend on the stock market. When the market is booming, jobs in the industry boom as well. When the market takes a bearish turn, the number of jobs in the market also reduces. Whatever the situation, getting a good entry-level job is not easy for candidates with no prior industry experience. However, keeping the above things in mind will surely help candidates crack interviews and take their first step toward building a successful career in finance.