The Guide to Working in Financial Services

Individuals interested in pursuing a position in financial services should conduct research on jobs that interest them as well as the necessary requirements for obtaining said jobs. Many jobs will require at least an undergraduate degree (such as an MBA) while some will require advance degrees and perhaps internships.

Success in the financial sector requires experience in finance and accounting and strong computer skills. If you are adept at strategizing, analysing, and implementing long-term financial plans, your likelihood of professional success are quite good. Strong computer skills are as essential as financial skills; do not underestimate the importance of developing the appropriate skills.

This guide is by no means an exhaustive list of finance positions, rather it is a starting point for individuals interested in learning more and provides a foundation upon which to build. Despite the recent economic crisis experts believe many businesses reduced their personnel too severely during the recession and have had to begin hiring permanent employees to get workloads back on the right track and to poise their companies for growth. Here are some of the various finance jobs available as well as some information about the positions.

Corporate Finance

Individuals in corporate finance positions usually assist companies with raising capital needed for additional projects and on-going operations. This includes determining the amount and structure of money needs of the company via equity, debt, convertibles, preferred, asset-backs, or derivative securities. Novices in the corporate finance arena usually work on a client team and are responsible for preparing registration statements, attending "road shows" where potential investors are sold on securities, in addition to other duties. Occasionally positions in corporate finance are referred to as investment banking positions.

Capital Markets

New hires in capital markets are generally brought on as "analysts" or "associates." Capital markets officers’ aid companies as they originate new issues of debt or equity. They get may deal with bankers who have clients interested in issuing. Analysts also study market conditions, track swap spreads across the interest rate curve using computers and suggest the best time and form of issuance.

Advisory

There are numerous financial advisers. Bear in mind that there are three main bodies awarding qualifications for financial advisers in the UK. The main one is the Chartered Insurance Institute, which offers professional financial services qualifications all the way from beginner to degree levels. There is also the IFS School of Finance which offers alternative courses and qualifications in certain specialist areas like mortgages and equity release. The Institute of Financial Planning offers the Certified Financial Planner designation.

Additional Finance Jobs

As discussed earlier, there are numerous different finance jobs available. Some other areas of interest include:

Retail Brokerage / Private Client Coverage / Stockbroker

Mortgage Finance

Trading

Make certain to "do your homework" in terms of the requirements and training needed to obtain these positions and make sure that you do all you can do to set yourself apart from the competition. As the financial markets worldwide begin to correct there will be opportunities for the individuals who are prepared.