The finance industry offers diverse and rewarding career opportunities, but breaking into this competitive field is challenging.

In this guide, we will explore the essential steps to launch your career in finance, including the education, technical expertise, and practical experience required.

Step 1: University Choice and Degree

The university you attend can play a significant role in your chances of breaking into the financial industry. While your skills, experience, and performance ultimately matter the most, attending a well-regarded institution, especially a “target school,” can give you an edge in the recruitment process.

For example, the London School of Economics (LSE) is a renowned target school for top finance firms. Recruiters often prioritise applications from LSE students/graduates because of the school’s strong academic reputation, rigorous programmes, and history of producing high-calibre talent. Firms are confident that candidates from such institutions have been exposed to a competitive and intellectually challenging environment, which equips them with the knowledge and resilience required in demanding finance roles.

Being part of a target school also provides access to exclusive networking opportunities, career fairs, and on-campus recruitment events hosted by top financial institutions. This direct pipeline often results in students from these universities having higher placement rates at prestigious firms.

However, it’s important to note that attending a non-target school doesn’t bar you from success. With strategic effort, internships, and networking, you can still break into the finance industry. Target schools may have a head start, but determination, skill development, and persistence can help you level the playing field.

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A finance, economics, or accounting degree provides a strong foundation for careers in finance, offering essential skills like financial modelling and market analysis. However, firms are increasingly open to diverse academic backgrounds, such as engineering, computer science, or humanities, due to their transferable skills and fresh perspectives.

Non-traditional candidates bring strengths like analytical thinking, problem-solving, and creativity, which align with the evolving demands of the finance industry. While a finance degree remains valuable, showcasing how your unique background and skills fit the role is key to standing out.

Step 2: Internships and Experience

Internships are invaluable for building a successful finance career. They provide hands-on experience, allowing you to apply theoretical knowledge to real-world situations and gain practical skills. Internships also offer a chance to explore different areas of finance, helping you refine your career goals. A strong performance during an internship can even lead to full-time offers, making them a critical step in breaking into the competitive finance field.

So what’s on offer?

• Year 1: Spring Insight Programmes

• Year 2: Summer Internships

• Year 3: Placement Years ( a year out of university )

Finance internships are highly competitive, with many top firms prioritising candidates from target schools.

Top Tips from us: apply early, practice online assessments and video interviews, and do not be disheartened by rejection.

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The first stage of an internship application often requires a CV. Therefore, having relevant and high-quality experience is key. Your CV should demonstrate relevant experience that highlights your skills and potential in finance.

Aim to showcase:

• Extracurricular Activities: Participation in finance societies, investment clubs, or case competitions.

• Problem-Solving: Examples of analysing data or creating solutions in academic or personal projects.

• Leadership and Teamwork: Roles in student organisations, group projects, or volunteering.

• Technical Skills: Experience in tools like Excel, Python, or financial modelling.

Tailor your CV to emphasise achievements that align with the role, such as measurable results or impactful initiatives.

Step 3: Graduate Schemes

Graduate schemes are structured programs offered by top finance firms designed to develop new talent. These schemes typically last between one and three years and provide rotational placements across different departments, giving graduates a well-rounded understanding of the business.

Upon successful completion of the scheme, graduates typically transition into full-time roles at the company, often at a higher level than entry-level positions. The job offer at the end of the programme is based on performance, but for many firms, it’s a natural next step for top-performing graduates. This makes graduate schemes an attractive pathway for those looking for long-term career growth within a reputable firm.

Conclusion

Breaking into a finance career requires a combination of the right education, practical experience, and skills. While a finance-related degree provides a solid foundation, firms are increasingly valuing diverse academic backgrounds for the transferable skills and fresh perspectives they offer. Internships, extracurricular activities, and participation in finance-related societies are crucial for building experience and showcasing your potential. Graduate schemes, though highly competitive, offer a structured pathway into finance, often leading to a permanent role within the company.

Ultimately, persistence, networking, and continuous learning are key to standing out in this competitive field and securing a successful career in finance.

_{SIDENOTE: Anyone can break into finance no matter the university, degree, or internship experience.}