10 Ways To Achieve A Career In Finance Without A Finance Degree (2023)

ADegree in finance or economicsis a requirement for most jobs in thefinancial industry, but what if you don't have one and want to work in this field? While it may be harder for someone with a non-financial degree to land a finance job, there is still hope.

Every employer wants smart, engaged and motivated employees who can get the job done right. A finance degree teaches skills such asfinancial modelingmiAnalyse, but it can't do much to teach you other skills you'll need to succeed in almost any profession, such as: B. Communication, problem solving and time management.

Below are 10 ways to show potential employers that you have the skills they want in an employee and the passion it takes for a successful career in finance.

We rank each course based on its difficulty (e.g. enrolling in a finance course is easier than an internship) and the positive impact it can have on your goal of pursuing a career in finance. Industry.

1. Learn the language

• Difficulty:Low
• Impact:Low

If you are interested in a career in finance, there is no excuse for it.Know the language of Wall Street. If you don't know the difference betweendilutionmiDivisor, the in betweenVPLmiFCD, consider learning financial terms and concepts by exploring the broaderDictionary of Termson sites like Investopedia or by readingWall Street Journal.

Unfamiliarity with financial jargon can make it almost impossible for a non-finance professional to pass the preliminary interview phase. An interviewer often assumes that a candidate for a finance position is financially literate regardless of their educational background.

2. Complete your education

• Difficulty:Low to moderate
• Impact:Alt

What if you specialized in something other than finance? You can always rectify the situation by taking relevant courses majoring in finance or economics at bachelor's or master's level.

At the undergraduate level, courses in economics, or accountingfinancial analysisThey are excellent options. Many postgraduates go to aMaster of Business Administrationas its essential finance component serves to level the playing field between finance and non-finance graduates.

Yes orHard costs for the MBAWhat is deterrent is other ways like signing up for thatCertified Financial Analyst(CFA^®) definitely worth a visit. The CFA is awarded after passing a series of three rigorous exams that assess a completed level of financial theory and practical knowledge at your leisure.

3. Register for a financial training course

• Difficulty:Moderate
• Impact:Moderate

Crash courses from companies like Wall Street Prep and Training the Street can provide you with valuable skills essential to a career in finance, such as: B. advanced spreadsheet techniques and financial modeling.

These intensive courses are quite expensive, usually a few thousand euros, but have the advantage that they do not require a long-term commitment, as they are usually completed in a few days. One downside is that the intensity of these programs may require you to already be familiar with basic financial concepts to get the most benefit.

4. Expand your knowledge base

• Difficulty:Moderate
• Impact:Alt

Relevant knowledge is not only acquired through a university degree. There are many resources available, either at your local library or online, to increase your financial literacy. These features can be free or paid for by course providers.

5. Use a trading simulator

• Difficulty:Moderate
• Impact:Low

Several websites including Investopedia havecommercial simulatorsthat can be used to create simulationspurses. Using a trading simulator forces you to track themNoticedand watch the market developments. This is a great way to impress a potential employer with your business skills, or at least your knowledge of the market, with very little effort on your part other than a commitment of time.

6. Complete industry courses

• Difficulty:Alt
• Impact:Alt

Completion of a relevant industry licensing course, such as that offered byCanadian Securities Institute, not only demonstrates your commitment to a career in finance, but also gives you a competitive advantage in terms of commitment.

Of course, this option may not be available in all jurisdictions; For example, in the United States, you must be sponsored by asignature of the memberby unoself-regulating organizationto take most license exams.

However theFinancial sector regulator(FINRA) has created a new test calledBasic exam in the securities industry(SIE), which can be carried out without sponsorship.

7. Run a financial blog

• Difficulty:Alt
• Impact:Moderate

beginning andRun a financial blogIt's a great way to communicate yoursinvestment ideasFor the world. It's an opportunity to give a potential employer a good idea of ​​your diverse skillset, including financial, communication and technological skills. This type of self-promotion works best for those who already have some level of these skills.

8. Connect with a mentor

• Difficulty:Alt
• Impact:Moderate

Connecting with a mentor is another way to start onefinancial career. A mentor can be anyone in a position of influence who values ​​your abilities and is willing to help you achieve your goals. Potential mentors include your favorite college professor, a family friend or relative with a successful career in finance, or someone you know professionally, such as a B. a supervisor during a previous internship. Don't hesitate to reach out to any contact you think can help you with your job search.

9. Do an internship

• Difficulty:Very high
• Impact:Very high

A summer internship remains one of the best ways to land a prestigious full-time job in finance, as do manyfinancial worldCompanies select their new employees from their summer interns. At the best business schools, about a third to a halfMaster of Business AdministrationStudents will work for the summer employer after graduation.

Out ofget a paid internshipin finance is probably too difficult for a non-finance graduate, you should consider other options such as an unpaid internship or volunteering with a realtor. EITHEROpportunity costsfrom unpaid internships or volunteer work can currently be compensated by the higher levelgain potentiala career in finance.

10. Do your best to get your foot in the door.

• Difficulty:Very high
• Impact:Very high

Forward resumes to HR departments, expand your job search to other locations and use your network to review vacancies;financial institution. score aEntry level position in a financial company, even in a non-finance position, could open doors to other finance careers in the future.

Diploma

Certain non-financial stocks are certainly in demand on Wall Street for specific tasks, including:

• Physics and mathematics for structured products, derivatives and quantitative trading
• Information technology for algorithmic trading and platform development
• Engineering, Mining and Science for industry specific research analysis and investment banking

However, for the vast majority of non-finance graduates, finding a job in finance is likely to be a major challenge. This is all the more true given that thousands of jobs were lost in banks and financial institutions after the 2008 crisis.Global recession.Using a combination of the tips discussed above should allow a non-finance graduate to greatly improve their chances of a career in finance.