The finance industry is a dynamic, constantly changing industry. This makes it a really interesting industry to work in, as well as an industry with good opportunities for career advancement. But how do you get started?

Finance industry employment trends provide some good information on where the jobs are and what employers are looking for. 

It may not look like it, but the total number of people employed in the finance industry has steadily increased since the beginning of this decade. In general, the larger companies have been decreasing their total staff numbers while lots of smaller companies are growing. A lot of jobs that were once common are disappearing, while other positions have experienced a boom. 

One of the most significant trends in the industry at the moment is the trend toward recruiting people with tertiary qualifications. According to the Australian Bureau of Statistics, the proportion of the finance industry workforce with qualifications has increased from 44% in 2001 to 63% in 2007. 

This trend fits with another one we’ve observed. There has been growth in managerial and professional roles, and a corresponding decline in the number of people employed in clerical, sales and service roles.

Although qualifications are clearly important, when it comes to securing a job and establishing your career, there are a range of skills that are critical across just about all finance industry positions. 

The key skills currently sought by finance employers are:

• Communication skills: finance employees need to be able to listen, communicate and relate well with their customers, managers and co-workers.
• Sales, customer service and relationship management skills: selling, growing business and retaining valuable customers are all core business in the finance industry. Having these skills provides a good foundation even for those workers that aren’t in actual sales and customer service roles.
• Leadership skills: the ability to solve problems, influence and work co-operatively with others is generally considered an important attribute.

Six Top Tips for those looking to start a career in the finance industry from the FSU Careers Centre:

1. Consider completing a tertiary qualification and making a commitment to ongoing education
2. Look for opportunities to develop your communication, sales, customer service and leadership skills so that when you’re applying for a finance role, you can demonstrate that you already have strong skills and experience in these areas. 
3. Have a career plan and keep updating and changing it to keep up with the changing environment
4. Consider working for a smaller finance company – but beware of working for companies that don’t have good employment practices
5. Be aware of what’s going on in your profession and industry. Develop your networks by joining the Finance Sector Union and other professional and industry associations.
6. Develop and maintain your career management skills, including your job search skills. You might be the best person for a job, but if you don’t present yourself in the way that’s expected, you probably won’t get the job. 

For more information to help you navigate a career in the finance industry, visit the FSU Careers Centre .