How to Get Financial Analyst’s Job with ‘Internship’ and ‘On the Job Training’?

1x1.trans How to Get Financial Analysts Job with Internship and On the Job Training?

In one of my earlier articles, I had explained to you readers, the importance of having a good education qualification and additional certifications when it comes to getting a good financial analyst job.

But believe me when I say that the story does not end there.

It’s just the beginning.

Your learning does not stop at a professional qualification or a degree or even by acquiring additional professional certifications.

Believe me when I say that life is all about continuous learning, at every level in your professional career. It is important that this learning never stops.

According to me there are two things which every youngster aiming for that dream financial job should always keep in mind:

  •  Doing internship programs with reputed financial organizations and
  • Giving maximum importance to on the job training.

If you ask me, these two things are like the most important things that every candidate should value the most.

In fact many times there are also a lot of youngsters who come to me who are not able to attend the top tier colleges or get high percentages or grades in their educational degrees.

These youngsters, when they are looking for their dream job within financial institutes, fail to get those most coveted jobs, as there are many candidates who have done their schooling from more reputed schools or have achieved better or higher percentiles than them.

Obviously the hiring companies will prefer those candidates who have degrees from reputed colleges and have high percentages.

So what does a candidate like this do?

Think and tell me…

Here’s the answer - Try to get an internship program with a reputed financial company first!

Importance of internship program when it comes to a financial analyst job

So it makes a lot of sense for young candidates to first try for an internship program in a reputed financial organization, before gunning for their dream jobs.

Which organizations to target for an internship program?

Many times fresh graduates are confused as to which organizations to choose when going for their internship programs.

Do you go for the top organizations and take your chances or aim for the smaller companies where getting internship programs are comparatively easier?

This is a very common confusion point for most entry level candidates.

But don’t worry it is not that big a problem.

I believe that you should decide upon the type of organization where you are going to try to get an internship based on your education qualifications and from where you got those qualifications.

It’s really no use going into a war without proper ammunition.

Similarly, it’s no use targeting top level companies if you haven’t got a fancy degree from a fancy or a top level college or university.

Be realistic!

If you do not have those fancy degrees, not all is lost.

Try to get internships with smaller firms to start with.

You can learn the tricks of the trade quicker in smaller firms and then approach larger firms with your experience.

But on the other hand if you already have that fancy degree from a reputed university, you should always aim high and try to get an internship program with a big and popular organization which helps you get a jump-start to your career.

An internship from a reputed organization on your resume is like words in gold.

Recruiters will always give strong weightage to internship programs from reputed organizations.

How to get an internship program?

The easiest way to get anything is to ask for it!

No, seriously!

Many times we just don’t do certain things thinking that it might not happen.

But believe me perseverance definitely will bear you fruit one day.

Don’t be afraid to approach any organization for an internship.

First decide which organizations you want to approach for an internship programs.

Study those organizations in detail. Understand what you will have to do there if you actually end up getting into an internship program in that organization.

Once you are clear about these things, first create a good resume wherein you detail all your educational details along with your strengths and career goals.

You can look at another article that I have written on How to make your CV standout when approaching a financial analyst job’ which will help you write real good and effective resumes.

Getting an internship is not only about an effective resume but also about giving a good interview.

Make sure you are properly prepared for the interview and know your domain knowledge very well.

You will get only one chance to crack the interview. So give it your best.

What to do during your internship program?

Ok! So now you have got that most coveted internship program.

Now what do you do after that?

What are the things that you should remember to do during your internship program?

The most important thing that you have to remember is that your internship program is not going to be more than two or three months at the most.

So you have to make sure that you have to make the most of the time.

Remember to keep your eyes and ears open all the time.

Observe and listen all the time.

Absorb as much as you can.

Make sure that you understand all the instructions given to you and follow then perfectly.

Don’t be scared to ask if you do not understand anything.

Remember you are there to learn, so don’t be scared to ask questions.

Make sure you keep notes of all the important points and learning every day.

Most important thing is to look out for a mentor who can be your guide throughout your internship program.

Try to make the most of your time with your mentor and learn everything possible from him or her. Do not say ‘No’ to any work. There is a learning in everything that will be told to do there.

Try to make as many connections with in the organization as possible as they will be useful to you throughout your career.

Remember to use your internship program as a launchpad to gel within the organization and become an integral part of the organization.

Stipend

A stipend is a form of salary, which is typically paid for an internship program or apprenticeship which usually a beginner undertakes.

It is different from a salary or a wage as it does not essentially signify payment for work done,but it signifies a payment that allows somebody to be exempted partially or entirely from a waged or salaried job in order to assume a role that is usually unpaid or voluntary, or which cannot be calculated in terms of a task.

Stipends are typically lower than a permanent salary or wage for similar work.

Never think of stipend when you plan to go in for an internship program.

Stipend will always be nominal.

It should not be your preference criteria when you look out for an internship program.

The most important thing that you as an entry level intern should concentrate on is quality of work that you get to do there.

Remember never follow money in your career, let money follow you.

And believe me if you are successful, money will always follow you, you don’t need to run behind it.

Follow this theory like a gospel at least at the start of your career and believe me you will soon enjoy the fruits of your hard work.

Generally, stipends at internship programs are quite less.

In smaller firms, such as brokerage houses or equity research firms, especially if the candidate is from a lower rung school or university, he or she could get a stipend of anywhere from rupees two thousand to rupees ten thousand.

But at the same time in larger firms or firms such as large private equity firms or investment banking organizations, if the candidate is from a top rung school or university, he or she could easily get up to rupees fifty thousand or even up to rupees one lakh!

Below I have given a grid which will help you understand the range of stipend that various candidates can get in different types of organizations based on their education background.

1x1.trans How to Get Financial Analysts Job with Internship and On the Job Training?

Again this is quite indicative and may vary from organization to organization and from country to country.

But typically private equity firms and investment banking corporations tend to hire only candidates from top ranking schools and are happy to pay handsome stipends.

But again to reiterate, please do not make stipend your priority.

I know so many successful professionals today (including me) who had accepted internships with zero stipends!

They used the internship programs to learn and absorb and used these learning in their career very successfully.

Today these people are very successful in their lives!

Importance of ‘on the job training’ when it comes to a financial analyst job

If you ask me, ‘on the job training’ is one of the most important elements in a person’s career.

Believe me this is even more important than your formal education.

During your graduation, you will read a lot of books and attend a lot of lectures.

But you will never get real time experience of working in a professional corporate environment.

This is what you will get from ‘on the job training’.

What exactly is ‘on the job’ training?

On the job training means the training that one gets at the place of work, while the employee is actually doing the job.

It is teaching the skills and competencies required to perform a specific job within the work environment.

While occasionally it could be provided by an external trainer, most of the times, it will be provided to you by another employee who performs the work competently.

Why ‘on the job’ training is very important?

As much as your educational qualification is important, on the job training plays an even more important role in enabling you to perform the tasks efficiently when you are already hired and working.

As a new analyst you will face many challenges, you will have to develop financial tools, and interact with clients.

On-the-job training will enable you to strengthen your foundation of practical application of financial theories.

This will also broaden your understanding of markets and financial products and enhance your technical skills.

Effective on-the-job training will enable you to broaden your conceptual knowledge, and fortify your practice and applications. 

What to remember to do during your ‘on the job’ training?

Most important thing that you have to remember is to keep your eyes and ears open all the time.

Absorb as much as you can.

Remember this is the time to learn.

You are allowed to make mistakes during this time, but remember not to repeat the mistakes.

Learn from them.

This will definitely take you a long way in your career.

Again I would like to impress on the concept of a mentor.

Seek a mentor and try to learn as much as you can from him or her.

Believe me they will be able to teach you many more practical things that probably you didn’t learn in your degree program.

Final words . . .

If you do well in your internship program, believe me there are more than hundred percent chances of you getting an offer in that company.

The recruiters have seen you and know what exactly they can expect from you. So if you have done a good job in your internship program they will definitely prefer to hire you than an unknown person.

I hope I have been able to explain the importance of getting a good ‘internship program’ and ‘on the job training’ when it comes to getting that dream financial analyst job.

Just to reiterate, learning does not stop any time in life.

Always keep an open mind to learning throughout your career.

Do let me know if you have any comments or haven’t understood any segment.

I’ll be happy to help.

All the best in life and in your careers!

The Definitive Guide to Wall Street Jobs

1x1.trans The Definitive Guide to Wall Street Jobs

 

In this article, I will explain the needed skills, qualities, attitudes and approaches that are necessary and imperative to gain Wall Street Jobs for prospective careerists holding Economics Majors, Engineers, Finance Majors and also finally, people seeking Entry Level jobs.

First, I need to discuss about Wall Street jobs that are in store for people majoring in economic majors who are seeking Wall Street jobs.

Wall Street Jobs for Economics Majors

Skills

These genres of job seekers need to have solid understanding of financial markets around the globe including stock market functions and how they work.

Some of the main Wall Street jobs are in leading banks, money institutions, leading banks and hedge funds.

These require skills relating to proficiency in math, financial issues and adroit global and fiscal management. Also, they need to possess and manifest complete understanding and appreciation of hedge fund operations through enforcement of necessary trading strategies.

These deal mainly with daily administrative and business upkeep functions, including accounting, financial, economics, bourse trading and regulatory functions and dealing well with clients and stakeholders by creating huge investment opportunities on clients’ behalf and also taking good care of their moneys by making sound and viable investments in schemes which have handsome returns, consistent capital appreciation, high dividend yields and gainful movements.

Qualities

Numerical skill qualities, high interpersonal skills and good human relationship management are major qualities besides excellent oral and written communication skills.

Calmness, cool head and composure during stressful situations are also major qualities demanded in these genres of Wall Street jobs in banks, financial centers and hedge fund operations.

Attitude

A positive and clear cut attitude, no nonsensical approach and dealing tactfully with wide range of people like stakeholders, customers, clients, Government officials and tax authorities, also auditors and inspectors.

Mental and physical calmness, lack of agitation and stressed bearing, non aggressiveness and cheerful disposition, especially during difficult times are welcome attitudes.

Since major part of the work is dealing with money and wealth management, appropriate skills of this genre are also sought among successful candidates for these lucrative positions.

Approach

You must be positive and heartening and not create stress and tension among other team members, peer groups or superiors.

Your approach should be a careful blend of professionalism, courtesy and excellent manners, especially when dealing with wealthy, albeit eccentric customers.

Wall Street Jobs for Engineers

Skills

The primary skills that are obviously required are technical ones, thorough technical knowledge, excellent skill sets and demonstrable expertise over the engineering aspects of the business.

The skills that need to be manifested are not only based on earlier work experiences, proficiency and education, but on other qualities that are needed to sustain and succeed in the highly demanding business of engineers.

The talents, skills, experiences and technical competencies of engineers are indeed needed for functioning as engineers in top banks, bourse trading, private equity firms, financial institutions and other kinds of Wall Street jobs over time, along with adequate length of training, induction and on-the-job skills needed of Wall Street employees, traders, technical analysts, banking executives and so on.

Qualities

It is necessary and important that such engineering talent have good qualities of head and heart.

Not only should you be adept in your work and be good, keen, self starting and enterprising engineers, you also need to be good technical problems solvers and possess  troubleshooting abilities and capabilities, matched with quick mind and fast pair of hands.

Wall Street engineers need to be out-of –the ordinary thinkers and doers, and need to move in for the problem solving with alacrity, resourcefulness and resolute thinking, not wasting time, energy, efforts or enterprise on superfluous aspects and also protect business interests of clients, big and small.

Attitude

These crack set of professional engineers are imbued with large doses of positive attitudes, never- say- die mindsets and would get on to the job in hand without wasting time or energy. The attitude list includes infinite amount of patience, perseverance, promptness and positive thinking, along with high motivational, morale and commitment to their cause, however small it may seem to be.

You should have the right attitudes to work, enjoy your assigned tasks and do it with best always.

You should look forward to hard, challenging tasks and have already developed and sharpened skills needed to overcome very tough situations and work assignments that test you to your maximum of your physical and mental limits, without rest or respite.

You should enjoy your work and fully submit to it, without making excuses, or feinting limp reasons for not standing up to assigned tasks

Approach

Engineers approach their work with enthusiasm, courage, determination and grit, and know that some of their assigned tasks are very highly demanding on both body and mind, and yet they cheerfully go about their tasks, as though nothing has happened.

Their approach is positive, encouraging, highly motivated and with great deal of moral courage, commitment and uncanny abilities to solve tough engineering problems relating to their domain of work with relative ease and unparalleled show of professionalism and dedication to duty.

When compared to other functional disciplines, engineering is much more technical oriented line, requiring special skills, knowledge and specialist performance and they need to carry them out with relative and unusual degree of professional ease, distinction and dexterity, worthy of being termed as Wall Street Company engineering specialists.

Wall Street Jobs for Finance Majors

Skills

Successful Wall Street jobs for finance majors call for unique set of skills, like numerical jugglery, remembering facts, figures and statistics for long time with unfailing memory and retention skills, outgoing, pro active, inquisitive and having a yen for money.

Besides, a sharp, incisive and calculative mind is also a prerequisite for finance major jobs in Wall Street since some financial or investment decision may need to be taken in the absence of technological props and support, while travelling, on the move ,or even in the gym.

Skills like mathematical aptitudes and dexterity, keeping clients best interests in mind always, honesty, integrity, transparency and loyalty and faithfulness to clients, and also keeping their best business interests in mind, are other major aspects that need to be considered.

Qualities

Since managing others’ money and resources are predominant in this business, it is imperative that the employee has good money sense and uses it in good measure for client benefits.

Excellent human relationship management, getting along well with people and being able to take wise and judicious decision, even in split second ones are needed.

Instinctive gut feeling, forecasting abilities and being a good planner, organizer and executor are also major qualities would be put to test in a Wall Street finance major job.

Attitude

Indeed, there is great and demanding need for positive and constructive attitudes, especially when things do not seem to be going too well for clients.

They must be able to keep their heads above water during times of crises and think well and positively without being panicky, beleaguered or low beat.

How to make the best of a bad situation needs to be always in their minds. They must think about best but also prepare for the worst.

Approach

Approach must be professional, albeit warm, and should be open, friendly, caring and constructive.

Finance is an ever evolving, risk laden, complex and highly complicated field, with official, client based and governmental laws, and finance majors must be able to approach problems with open minds, always seeking strategies on how to solve them and not exacerbate things further by show of negative thinking or actions that hurt clients and their business interests.

An open, amiable and amicable approach, without hang-ups of any kind would indeed work wonders and help dispel fears and trepidation among clients.

Indeed the main job of finance major is to give sound, logical, practical and professional advice based on excellent readings of market conditions, and this should never be compromised in any manner, anytime, anywhere and for any cause.

Finance majors must not taken any client- affecting decisions on their own, must consult clients, appraise them of the pros and cons of situation and seek advice and guidance from clients on what next to do. Their job is to offer fiscal advice and counsel not to act on their own accord without consulting clients on matters affecting client interests.

Wall Street  Entry Level Jobs

Skills

At entry levels jobs in Wall Street banks and brokerage firms, one cannot really expect much in terms of skills, besides theory skills and limited practical sense display in some jobs.

While professional, administrative, management and coachable skills may be present; they are indeed submerged by lack of job exposure, application and experience.

Skills at this level may be in terms of being a good listener, an excellent leaner and lapping up what is provided in terms of induction, training and skill development.

Qualities

An open, endearing and pleasing personality, ever eager to learn and lap up materials and learning aids, qualities of head, like a quick intellect, mobility and flexibility, and fast reactions, strong, emotional and friendly are major traits and qualities needed for this job.

Besides, very high levels of confidence, liveliness and energy are also acceptable qualities at these fresh levels which grow and develop over time and added doses of experience, eagerness and expertise

Attitude

Entry level entrants need to be highly enthusiastic about things happening around them. They also need to possess passion, endurance, solid thinking and action oriented powers, and also love what they are doing, no matter how tough and stressful it may seem to be.

Constructive and positive attitude towards problem solving, meeting and surpassing targets and creating value based solutions and successive inroads for clients, stakeholders and customers of all genres are all necessary and important for initiating and scaffolding a solid career in Wall Street jobs.

The most important criteria about attitude is to maintain positive and encouraging attitude, even when things are not going too well and market conditions are not upbeat but bearish, gloomy and depressing.

Current uncertain market conditions should not be allowed to cloud vision, perceptions and the right, positive attitude to business and work

Approach

Needs to be constructive, positive, productive, always keeping the best interests of customers in mind. The approach should indeed be one of caution, enthusiasm and deeply tempered dynamism and verve.

A newcomer in the business needs to first acquaint, learn and master the trade of Wall Street jobs before displaying deeper and more experience demanding skills and competencies.

Besides, it is important that they fully understand and program them well, develop and hone the right kinds of skills to succeed and excel in this highly demanding, ruthless and totally performance- oriented profession

Key Takeaway

Career prospects although lucrative in Wall street jobs, they are highly demanding, risk-laden and full of red flags strewn all over the paths.

Indeed many survive by sheer skin of their teeth, and this is stating a lot. But this should not deter any enthusiast who is more than ready and willing to put everything at stake, in terms of education, skill sets, attitudes and competencies for pursuit of one’s dream till the final post is sounded.

Wall Street employees are born out of crisis situations and one’s reactions and response to crisis is what differentiates glorious success from ignoble defeats.

Eventually, it is the winning spirit, the verve, the passion and the never-say-die attitude that counts in Wall Street jobs.

Author Bio:

James Lopez , who is concerning in moderations and preservation of buying essays online, an online community that serves as a stage for college students to cooperate and clarify their doubts about their essay writing requirements.

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