A career in finance is often portrayed as glamorous, high-powered and brimming with formidable salaries. But many professionals find themselves languishing in uninspiring roles in accounts or research. Finance is a crowded industry where successful promotions often depend on sheer hard work and meticulous forward planning.
Create Your Own Opportunities
Finance is an unpredictable, energised industry that requires flexibility, shrewdness and a certain amount of bold behaviour. Social networking can be very effective in getting you noticed. Through platforms such as Facebook, Twitter, and especially LinkedIn, many people can make new acquaintances online and network to develop their careers. Socialising at work and getting involved in current projects too can also help prove your determination and eagerness to learn more. Research relevant, valuable information and be ready to share your views and solutions.
Adaptability is an important attribute when aiming for promotion. Gain experience and learn new skills in various financial fields. It increases your value as a team player whenever you have the chance to show your abilities. Even if you want to specialise, gaining knowledge within every department always has a positive influence on your career. Take responsibility for your own prospects and you could begin making the progress you crave.
Studying For Financial Qualifications
The most effective long-term solution is gaining an internationally recognised, financial certification. Financial Risk Management (FRM) courses can be completed in just two years with one two-part exam. Studying to be a Chartered Financial Analyst (CFA) usually takes up to five years with several examination levels. It’s often considered one of the most difficult qualifications to study for and includes a particularly intensive workload. However, a CFA qualification is vital in boosting your career within the financial industry.
12% of CFA candidates already working in portfolio management believe that becoming a CFA charter holder is a necessity in progressing to a higher level. Approximately 80% of core investment companies prefer CFA qualification for recruits at an intermediate level. Only 12% specifically demand CFA at this stage, but the figure doubles when you want to progress to being a senior executive. On average, half the candidates fail. But for those who pass, it’s highly effective in career advancement.
Do thorough research on how to improve your CFA prospects
Studying for the CFA charter is often gruelling as it’s combined with a full-time job. Successful candidates have usually learned to manage their time effectively to accommodate six hours of study each day. Before beginning your studies, it’s worth checking out some of the information and advice available online. There are plenty of free resources for CFA candidates and insight into what it takes to pass available from those who have successfully achieved chartership status, as well as structured courses from a number of exam providers. Doing extensive research into the financial industry and the careers available, and identifying the most suitable exam preparation methods for yourself are all key to success when it comes to achieving the qualifications you need.
There are many personal and professional development opportunities
As a CFA charterholder, you’ll have proved your abilities across a wide range of challenging financial departments. It endorses your credibility, trust and authority as there is a large volume of study devoted to legal and ethical standards within finance. 45% of candidates regard CFA qualification as the key to the most dynamic positions in portfolio management, investment banking and private equity. CFA qualification is usually requested by some of the world’s largest institutions such as JP Morgan Chase and PricewaterhouseCoopers.
The personal rewards of CFA certification are significant. It enables you to choose a greater variety of work including corporate finance and global economics. You could win assignments in the high-powered financial centres of Singapore or Tokyo. In this article by Reuters, New York and London have stayed top two in the latest Global Financial Centres Index. So perhaps your finance career can be boosted by exploring potential finance opportunities in these top locations. Your salary can also be twice what you earned as an undergraduate. Lucrative bonuses, subsidised travel and benefits such as private medical care should more than compensate for the long hours of intensive study.