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How to get started on a career in finance

Keen on a dynamic career in a sector with global relevance and good opportunities for progression? Then a role in finance could be right for you. So what skills do you need to get your foot on the finance ladder in today’s job market? Let’s take a look at current research, and get advice from two recent international graduates from UK universities.

Filling financial roles

The report Bridging the skills gap in a rapidly evolving sector Skills for the future of Financial Services 2024 from the Financial Services Skills Commission (FSSC) highlights the current landscape for recruitment in the sector. 

According to official UK government statistics, the finance sector had 3.2 vacancies for every 100 jobs in 2023. That makes it the sector with the seventh highest vacancy ratio – down from the previous year, when it was in the top three.

Of course, some finance roles need an influx of talented, motivated graduates more than others! A survey of FSSC members found that firms were struggling to fill roles in the following fields:

1. Data: 41%
2. Software: 23%
3. Risk: 27%
4. Cyber: 27%
5. Product management: 18%

Specific roles for which there is strong demand include account managers, business development managers, speciality underwriters, actuaries in insurance and investment management, and auditors in banking.

The financial skills gap

So what skills will nail you your dream job? The FSSC has set out 13 technical and behaviour skills that are essential for the future of the financial sector.

The technical skills are: data analysis and insights; digital literacy; software development; cyber security; user experience; and machine learning/ AI. And the behavioural skills are: coaching; relationship management; agile; creative thinking; empathy; teamwork; and adaptability.

The FSSC research finds that demand for technical skills is around 20 percentage points ahead of supply – roughly the same as the previous year.

But the demand for behavioural skills has been “supercharged by the accelerating need for people leader skills, the shift towards net zero and the introduction of the consumer duty”. It is now 25 percentage points ahead of supply, up from 10 last year.

So as you prepare yourself for your future career in finance, make sure you hone those soft skills as well as your technical knowledge!

International graduates in the financial sector

Many international graduates of UK universities go on to forge successful careers in finance. So how do they feel their studies prepared them?

Azeem from Sri Lanka obtained an MBA from UWE Bristol and now works for HSBC Sri Lanka, managing a portfolio of more than 400 high net worth customer relationships. He believes that his MBA bolstered both his technical financial knowledge and his behavioural skills, helping him land his position.

“During my studies, Sri Lanka faced a severe economic crisis that transformed the job market. The insights and skills I gained from my MBA allowed me to approach this crisis with a leadership mindset,” he says.

Meanwhile, Indian graduate Kush, who studied at Loughborough University and now works as a financial advisor in corporate fraud investigations for Deloitte, says: “There are thousands of applications every year, Deloitte India’s acceptance rate is less than 5% at the moment. Given this great competition – my degree from the UK really helped my standout from the crowd.

“Since we deal with many international clients, a UK qualification is highly valued for such roles. I did a few internships in my time in the UK which really helped.”

Advice for fellow international students

Both Azeem and Kush agree that university study, skills development, work experience and networking will boost an international graduate’s chances of landing the perfect position.

“Invest actively in every aspect of your curriculum; each detail matters and can yield significant returns in your personal and professional life. The best investment you can make is in yourself and pursuing a UK qualification like an MBA is a valuable step,” says Azeem.

“The global and local job markets are evolving rapidly, so focus on skill-based assessments and evaluations to stay ahead. Take full advantage of the personal development programs offered by your university to acquire new skills and prepare for future challenges.

“In addition to leveraging your MBA, emphasize building strong communication and interpersonal skills. Gain practical experience through internships or part-time roles in finance or client-facing positions. Networking extensively is crucial, as is understanding diverse cultural perspectives and financial products. These efforts will be key to delivering exceptional client service and advancing in your career.”

And Kush has the following advice to offer: “Don’t be too worried about which job you land first. I started off as a billing analyst before my current role. The key for me was to learn as many skills as possible and then leverage those skills to progress to a better role. Companies really value work experience.

“If you’re looking to get into a financial advisor, consulting, private equity or venture capital role, I highly recommend mastering working on tools such as Power BI, Excel and PowerPoint. These skills will be used no matter which field you get into and a strong grasp of these skills is highly valued and will immensely boost your chances of landing a role.”

Register for Gradlink today

A UK university degree gives you the knowledge and skills that you need to get on the first rung of the ladder in the financial services sector. You can get further careers support from Gradlink, which offers free global advice, an employer database, a jobs board and news for international students. Register with Gradlink today.