A job change is a pivotal career decision; it can make or break a career. Therefore, if you’re present interests are making your future look bleak, it is time for you to switch vessels. If you fancy the finance industry due to its high earning potential, job security, the opportunity to expand your education, and a balanced lifestyle, you should leap. But the question is: how?
The finance industry is pretty much the only place where growth and comfort co-exist. That said, who wouldn’t want to make a career switch? As tempting as it is, transitioning into a finance career after you’ve spent decades in another field can give you a case of jitter. But when you think of all the more significant challenges and potential improvements, among other benefits, you’ll be just fine.
Therefore, if you’re planning a career change to finance, we are here to help you out. Below are a few helpful tips to make your transition as easy and manageable as possible.
1. Switchers must have a quantitative background
Most individuals trying to switch into a finance position have some level of previous quantitative knowledge/experience in accounting or banking. After all, you don’t see a musician shifting to finance just for the sake of it. So, if you’re aiming for an accountant’s position in the finance field but have no knowledge whatsoever, there’s a solution. For those who want to learn conveniently without compromising their family and work life, online masters in accounting for non accounting majors is your best bet. Undeniably, online learning comes with many perks, especially if you choose a prestigious option like this one. With this degree, you can prepare the financial information that is relied upon by lenders, investors, and other organizations throughout the world. You can also provide advice on financial planning, taxes, and a wealth of other business matters.
2. Don’t hide it from your current employer
Once you’re done with the crucial part, such as attaining a financial degree, you should talk to your boss about the switch. Your boss might be livid, but by being honest about your reasons for wanting a change of pace, the odds will be in your favor. And your boss will wish you well. Explain your reasoning, and don’t be afraid to seek guidance. Who knows, your boss might get in on the procedure and suggest some new career choices and give you some referrals. Or better, he/she might relocate you within the company for jobs suitable to your new skills.
3. Take a skill and personality assessment test
Having the skills to handle financial work is an integral part of the switch. However, in financial firms, you will be interacting with clients daily, so if you have customer service experience, let the new employer know.
Other than that, you must know how to work with various computer-based programs, such as ERP software. Individuals who successfully transition into finance also possess specific non-financial skills. These include the capability to solve problems, communicate effortlessly, and of handling immense details and figures. Suppose you seek to ensure that a career in finance is ideal for you. In that case, a mandatory step is to assess your personality traits and skillsets.
This step can be accomplished by taking an online career assessment test or have a professional career consultant by your side. Whatever you decide to do, ensure it nudges you in the right direction so that you can determine your weaknesses, strengths, and personality traits.
4. Do your research
Before you go for a job interview, do as much research to showcase your knowledge by asking intelligent questions during the interview. Online resources are galore, as are career libraries at educational institutions and public libraries. A tiny bit of due diligence goes a long way in terms of integrity. A well-conducted information interview may turn a “maybe” into a “you’re hired.”
Another critical “must-do” before the interview is to craft a well-wrought resume that demonstrates your abilities, skills, and knowledge. So be sure to have everything intact.
5. Have some patience and perseverance
Today’s job market is a sea of challenges, so don’t get discouraged if your efforts do not immediately bear fruit. Keep networking, go to interviews, and apply for relevant positions. Besides that, don’t forget to solicit advice from experts, as their feedback may help you know where you need to improve.
Conclusion
Switching to a new profession can be challenging and daunting. However, today’s fast-paced corporate world appreciates talent with various and diverse skills and experiences. So, if changing gears is what gets your blood racing, it’s worth trying. Effective networking and careful research are ideal for a successful transition. Finally, once you make the switch, be sure to find a mentor who will help you climb the ladder to utmost success.
