A successful career in finances requires many difficult perquisites. For example, you need to know how the economy works, you have to develop a lot of knowledge in the industry, and most importantly – you’ll need skills.
And not just any type of skills. I’m talking about good IT skills, about the ability to do proper analysis on financial matters, and about the failures that came from your trial-n-error processes.
If you’re into finances, you can expect a decent to more than a decent salary. Of course, the amount of cash you’ll receive depends on your aptitudes and professional status.
If you’re reading this article, you’re obviously looking for some tips & tricks or some effective insights on how to advance your financial career.
During this post, we have prepared 7 useful strategies for advancing your professional finance career. If you care to apply them, you’ll notice meaningful changes at work.
1. Learn The Industry Language (Lingo)
Every industry has its own terms. For instance, if you call yourself a professional yet, you should totally understand terms such as:
a) APR (Annual Percentage Rate)
b) Cash Flow
d) Mutual fund
e) RMD (Required Minimum Distribution)
f) 401(k) Plan
Do you know what all these terms mean? Do you totally understand them? If you don’t I’d suggest heading out to Google and start doing your homework. Find the most important finance terms, and make sure to learn them all.
This activity is a very good investment in your professional career, as you don’t want to give the wrong impression to other professionals who actually know what they’re doing.
2. Score an Impressive Internship at a Big Company
Michelle Collings, HR manager at Careers Booster suggests that Many companies are attracted to references. If you can prove that you have worked at a big company within the industry, many doors will open. In order to do this, you have to apply to as many relevant internships as you can.
It’s important to select meaningful companies that already have a name in the marketplace. If your resume shows that you’ve already gained experience working at a big company, your salary can never be low compared to the other employees inside that company.
3. Enroll in Digital Industry Courses and Webinars
College and university aren’t the only places that can contribute to your education. The good thing, there are many professional courses that distribute a lot of value. This is a trend, and it’s called e-learning. You’re basically taking advantage of e-courses, webinars, or podcasts in order to develop more knowledge in a specific field.
4. Read the Best Books on the Topic
One of my first mentors once told me: “If you want to learn something new, read the best five books on the topic. You’ll know more than 99% of the population, making you a master in the field." It seems pretty unrealistic, but have you ever tried it?
Of course, certain fields of activity are more complicated than others and they require practice. Investing your time and money in at least five books on the topic is good because:
Someone dedicates his entire life in a specific industry. He has already done them all, and he’s writing a book to teach you how not to make the same mistakes. This saves time, and it’s incredibly helpful for anyone who wants to develop new skills.
5. Develop Your Personal Financial Blog
If you want a better salary, you must communicate your high status. If you want to be a professional nowadays, being just an employee will keep you on the mediocre side. Instead, you can start to personally brand your name.
That means that you’ll become certified entity in the field of activity. By developing a personal finance blog which delivers high value for newbie finance employees, you’re positioning yourself as an expert in the niche.
From then on, you can start asking for bigger salaries and more benefits.
6. Over Deliver at Work
Another important key factor to advancing your financial career is to start giving more. If you’re the one who delivers more values, in the beginning, things will turn around and it’ll benefit you big time.
For example, whenever you join a new company, your salary won’t rock. With time, things must change. You must prove your value and worth by over delivering. Do more than you’re asked, as long as it doesn’t negatively affect other operations within the company.
Show that you care, and display the fact that you’re willing to develop yourself as much as you can. Then, opportunities will come – trust me!
7. Find a Company that You Love
You know…one thing that people always miss is the fact that money does not equal happiness. Instead, I consider that passion and drive are the components that make us successful at what we do.
The environment, which in our case is the company, should always represent a place in which we can feel good. The company that respects, treats, and pays you accordingly will always be better than some other company that treats you like crap, doesn’t care about your needs, and pays you more money.
If you find a workplace that you enjoy, you’ll be more driven to engage with your colleagues and learn new things from them. Secondly, you’ll be perceived as a dedicated and hardworking workplace asset, therefore you’ll be paid better.
Advancing your financial career is not an easy task, but it’s far away from being impossible to accomplish. It all depends on your progress, skills, and work. If your motivation is to become one of the top finance experts in the whole world, no one stops you from doing that.
In the present moment, we have at our disposal all the necessary tools and resources to do whatever we want. The information is out there, and the lips of knowledge are closed, except to the ears of a true student and eventually practitioner.