17 Entry-Level Finance Jobs and How to Snag Them
I’m thrilled you’ve decided to join me on this journey into the vibrant world of finance.
You know, I still remember when I first dipped my toes into the finance pool. I was fresh out of college, armed with a degree and an abundance of enthusiasm, but honestly, quite clueless about where to start. I felt like I was in the deep end of the pool without a floatie. But don’t worry, that’s not going to be your story.
Fast-forward to today, after years of navigating the finance seas – sometimes smoothly sailing, other times weathering stormy waters – I’ve gained a wealth of experience and insights that I’m eager to share with you. And that’s exactly what we’re going to do in this article.
Consider this your friendly guide to the best entry-level jobs in finance and how to snag them. We’ll embark on a journey through 17 of the most promising starting points in the industry, each with its own unique challenges and rewards. And because I know firsthand how daunting it can seem, I’ll also provide practical advice, relatable anecdotes, and actionable steps to help you land your dream job.
The 17 Best Entry-Level Jobs in Finance
1) Financial Analyst
Think of this role as being the Sherlock Holmes of entry level finance jobs. Your job? To scrutinize financial data and use your findings to help companies make business decisions. From forecasting future revenue to identifying trends in the market, financial analysts are the go-to person for all things numbers. Plus, a financial analyst role is a great stepping stone to higher positions, making it an excellent entry point into the finance world.
2) Junior Tax Associates
Now, don’t run for the hills just yet! Dealing with taxes might sound scarier than a horror movie marathon, but I promise you, it’s not. As a Junior Tax Associate, you’ll be helping businesses navigate the labyrinth of tax laws. And who knows? You might even find that unraveling the mysteries of tax codes is more fun than a Sudoku puzzle!
3) Investment Banking Analyst
If finance were an amusement park, investment banking would be the roller coaster. This part of the financial sector is fast-paced, thrilling, and not for the faint-hearted. But if you’re someone who enjoys crunching numbers under pressure and can juggle multiple tasks like a circus performer, then this could be your perfect fit.
4) Credit Analyst
Ever wondered who decides whether a business gets a loan or not? Meet the Credit Analyst. Your role will involve assessing a company’s creditworthiness – a bit like a finance fortune teller predicting whether they’ll be able to repay their debts to a financial institution. It’s a role that requires sharp analytical skills and a solid understanding of financial statements.
5) Financial Auditor
As a Financial Auditor, you’ll be the financial world’s detective, ensuring companies are playing by the rules when it comes to their finances. Your magnifying glass? Auditing standards and procedures. Your reward? A sense of satisfaction from keeping the financial world transparent and fair.
6) Insurance Underwriter
In the world of insurance, the underwriter is the fortune teller. You’ll assess risks and decide the terms of coverage — or if coverage should be given at all. It’s a bit like being a bouncer at a club, deciding who gets in and who doesn’t.
7) Personal Financial Advisors
Imagine being a tour guide, but instead of guiding people through a city, you’re guiding them towards their financial goals. That’s the role of personal finance advisors. You’ll help individuals plan for their financial future, from retirement to college savings and everything in between.
8) Risk Analyst
The guardian angels of the finance world, Risk Analysts help companies reduce liabilities associated with business decisions by analyzing market trends and potential risks. These entry level finance jobs use risk information management software to manipulate and interpret risk-related data, quantifying potential negative outcomes. They also make recommendations to control risk, which may involve an insurance strategy. It’s a role that requires an analytical mind, a good hold in mathematics, knowledge of data analysis, and a strategic mindset
9) Loan Officer
Acting as the gatekeepers of loans, Loan Officers evaluate, authorize, or recommend approval of loan applications for people and businesses. They act as liaison between customers and their institution, helping qualified applicants acquire loans in a timely manner.
10) Mortgage Underwriter
If the home buying process was a court case, Mortgage Underwriters would be the judge and jury. They assess, among other things, credit history, financial statements, and the property value of the applicant to determine the risk and feasibility of granting a mortgage.
11) Treasury Analyst
The overseers of a company’s cash flow, Treasury Analysts monitor the organization’s financial activity, including investment funding, managing current income, and planning for the secure handling of future earnings.
12) Compliance Analyst
The watchdogs of the finance world, Compliance Analysts ensure that all business operations and procedures comply with legal regulations and internal policies. They conduct audits, identify business risks, and provide detailed reports on their findings.
13) Insurance Adjuster
These are the detectives of the insurance world. Insurance Adjusters investigate insurance claims by inspecting property damage to determine how much the insurance company should pay for the loss. They might negotiate with claimants, recommend litigation action when settlement cannot be reached, or approve payments.
14) Staff Accountant
The backbone of the accounting department, Staff Accountants prepare financial statements, reconcile account balances, and maintain the general ledger. They also assist in budget preparations and perform internal audits.
15) Sales And Trading Analyst
The pulse checkers of financial markets, Sales and Trading Analysts work closely with clients to buy and sell securities, manage assets, and provide sound investment advice. They are up-to-date with market trends and monitor all factors that may influence markets.
16) Accounts Payable Associate
The custodians of outgoing cash flow, Accounts Payable Associates manage and coordinate accounting functions in the company to ensure vendors are paid within established time limits. They also deal with discrepancies in invoices and negotiate with vendors in certain situations.
17) Accounts Receivable Associate
The gatekeepers of incoming cash flow, Accounts Receivable Associates manage invoicing, handle missed payments, and ensure that revenues are properly posted in the company ledger. Their role is critical in maintaining positive cash flow for the organization.
How to Get Entry-Level Finance Jobs
If you are interested in pursuing a career in finance, there are several steps you can take to increase your chances of landing a job in this competitive field. Here are some tips to help you get started:
Education
Let’s start with the basics. Many entry-level finance jobs require a bachelor’s degree (undergraduate degree) in finance, business administration, economics, or something similar. Some highly technical roles may even require a master’s degree. But don’t fret if your diploma doesn’t quite match up. I’ve seen people with degrees in everything from English literature to computer science make their mark in finance. It’s all about how you leverage what you’ve learned.
Skills
As for skills, think of them as your secret weapons. They can be as specific as proficiency in Excel or strong accounting skills or as broad as strong analytical abilities. And let’s not forget communication skills. Yes, even for a finance job focused on numbers, being able to articulate your thoughts clearly is priceless. So, whether you’re presenting a financial report or explaining complex financial concepts in layman’s terms, your communication skills can truly set you apart.
Crafting Your Resume
Your resume is your ticket to the finance industry, so it needs to shine brighter than Times Square on New Year’s Eve. Start by highlighting your education and skills. But remember, it’s not just about listing them; it’s about showcasing how they make you the perfect candidate for the job. Got experience? Great! Highlight any relevant internships or projects. If you’re fresh out of school with no experience, don’t panic. Focus on relevant coursework, or that time you managed the budget for a club or event. Every bit counts!
Finding Roles
In the finance world, who you know can be just as important as what you know. Don’t be shy about reaching out to alumni, attending industry events, or even connecting with professionals on platforms like LinkedIn. You never know when a casual conversation could lead to your next job opportunity.
You can also set up create job alert on boards such as Indeed and LinkedIn. Just remember to tailor your resume and cover letter to fit each role you apply for. Employers are looking for candidates who are enthusiastic about the specific position they’re applying for, not just any job in finance.
Acing the Interview
Now, this is your moment in the spotlight, and it’s time to dazzle. Do your homework on the company, understand the role you’re applying for, and be ready to explain why you’re the perfect fit. Practice common finance interview questions, but also be prepared for behavioral ones. Remember, companies don’t just want someone who can crunch numbers; they want someone who can fit into their team. And don’t forget to prepare some questions of your own; it shows you’re genuinely interested in the role.
So there you have it! With the right education and skills, a standout resume, a stellar interview, and a robust network, you’re well on your way to landing your dream job in finance. Remember, everyone starts somewhere, and with determination and a dash of courage, you’ll soon find your place in the vibrant world of finance. Good luck!
Have any questions? Are there other topics you would like us to cover? Leave a comment below and let us know! Make sure to subscribe to our Newsletter to receive exclusive financial news right to your inbox. Thanks for reading and happy learning!