Institute of Advanced Investment Management

Getting Into the Investment Industry

Where to Start

The Investing industry is often seen as one with a barrier-to-entry that can be difficult to get through. While it does take quite some active effort when compared to other industries, there are clear paths to follow to find your dream job. Whether that’s by being on the trading side of the industry, acting as an operations associate or controller, or as a software engineer, the investing industry has countless opportunities that are welcoming to people with many different types of interests and workplace experience. Here are a few tips to help you get started as you seek to enter the finance industry after graduation, or if you’re looking to make a career shift from an industry you’ve been working in for a few years.

Degrees

Now, many top financial institutions are requiring a bachelors degree for entry-level positions. Favored majors tend to be Finance, Accounting, Economics, or Business Administration. However, your college major does not determine your eligibility for these firms. Companies will hire from a wide array of majors, including graphic design, criminal justice, history, and many others. Firms are looking for coursework or other experience in coding, critical thinking and analysis. Look for courses that will teach you the basics about understanding financial statements, valuation, financial modeling, and understanding why markets behave and react the way that they do.

Internships

Internships are key to landing a full-time position right after graduating college. Investing internships are among the most competitive in the world, especially for top investing firms like Goldman Sachs, Morgan Stanley, and BlackRock among others. The key is to start preparing early. Many of these firms are looking for individuals who are self-motivated and will make the most of their opportunities. These firms hold recruiting events throughout the school year. Connect with recruiters and other company representatives and build relationships. These relationships can hold more weight than your resume if you talk with the right people and prove to them that you are the right candidate for them.

Extra Curricular Activities

Investing firms are looking for individuals who excel in all aspects of their lives – not just the classroom. As such, they’ll want to know what you did outside the classroom. Join a club, whether that’s the finance club or your local pickleball club. Most applicants will have similar educational paths or internship experience with similar responsibilities. The best way to stand out is to have something that is more unique to you so that when a recruiter looks at your resume, they’ll remember you as a stand-out applicant from the rest.

Not All Firms Operate the Same

Financial firms have a certain reputation as an unforgiving landscape where only certain types of people are able to find lasting success. Do not let this imitate you, as the finance industry has a space for every type of person to excel and exceed expectations. Each financial institution has its own workplace culture, internal goals, and ideas of success. Take the time to read about a variety of institutions. They are very open with the public about what they expect from their employees. Find which firms fit you best for your personal career goals.

Links to Workplace Culture

Understand the Market

The economic landscape is constantly changing and adjusting. Learn to understand what is happening, how changes impact both companies and the individual consumer, and why these changes happened. Take time to read about market performances and the headlines from major financial publications like The New York Times, The Wall Street Journal, and The Business Journals.

Be Prepared to Ask Questions

Having specific questions about a companies performance can showcase a high level of curiosity and preparation. Ask questions that are insightful without being aggressive. If given the chance, ask recruiters or company representatives the firms recent successes and what went into achieving that result. Having a personal knowledge of a firm you’re hoping to work for can show potential employers that you’ve prepared for any opportunity that they might give you.

Prepare Your Resume

There are a few key things to make sure your resume contains:

  • Speak in numbers. Make sure your listed positions have quantitative data to show how you performed in your roles.
  • Make it relevant. Only list roles that will showcase why you are a good fit for the specific position you are applying for. You’ll be able to explain your resume in an interview, but a first impression is key, and having positions that have little to do with your proposed job responsibilities can be off putting for a hiring manager. Make sure the resume is current.
  • Keep it concise. The most effective resume is one that is concise and shares everything a company may need to know about you within a single page.

The following sites can be good resources for assistance on building the best possible resume for an application:

Recruiting Events

Financial Institutions will hold recruiting events throughout the year, for both students and working professionals. Go to these events and meet the people you hope to work alongside. Having a personal connection with company representatives can be key to landing a position.

Have a Relevant Reference

Having a proven professional with years of experience in the industry listed on your application can be just as valuable. It may surprise you to hear that these institutions that appear to be rivals against each other in the market are filled with employees who are friends with those who work for other companies. The finance industry hold events seeking to share knowledge with as many people as possible, which leads to employees meeting hundreds of other people. If a recruiter sees someone they already know and respect as an industry professional listed on your resume, it can give you a defining feature that other applicants may lack.

Keep Trying

It can be difficult to break into investing. If it takes you a few tries, do not give up! The timing just may not be right. Continue to build yourself as an applicant and apply until you make it in. It will be well worth your effort!