How Finance Graduates Can Break Into The FinTech Industry
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The Fintech industry is booming at a rapid pace. The increased use of technology has opened up a plethora of career opportunities. While the developers and coders are already basking in the glory of this paradigm shift, finance graduates are a bit skeptical about the same. In fact, they are a bit intimidated by the claim that the Fintech industry will soon be teeming with only those with a coding or programming background. However, branding the claim as a myth won’t be untrue. Here are certain ways for finance graduates to make their way into the Fintech industry.
1. Acquaintance With The Industry Is The Key
As the name suggests, the Fintech industry is teeming with finance-related technology and tech-products to support and enable financial services. Along with them, there are plenty of automation processes that a novice needs to know about. Also, those with stronger IT skills and interest in data analytics have an edge over others in the Fintech industry. As all these factors are central to finance functions, it is indispensable for a finance graduate to get acquainted with them and stay abreast of the ever-evolving fintech space. Now for example, if you know the ins and outs of finance as a discipline and you are also good with programming and coding, you could thrive in this industry. Also, your familiarity with online trading platforms, techniques of financial data analysis, data analysis tools, etc. will help you a lot in widening your horizons.
2. Focus On Online Networking
Attending industry events, seminars, and gatherings is a great way to meet important people from the industry, but online networking also holds a similar importance. Get in touch with the people online who you met at these offline events. Also, try to find influencers online and those holding important positions in various organizations in the industry. Keep an eye on the websites of Fintech firms for a vacancy or career opportunity. Leverage the power of social media to strengthen your online networking. LinkedIn, for instance, is one such platform where you can find relevant people and get in touch with them. You can clear all doubts by interacting with them. Take advice, stay abreast and explore by increasing your online network. This will go a long way in helping you land your dream job.
3. Remember, Change Is The Only Constant
The Finance sector is governed by rules and regulations. However, it doesn’t mean that it is unfamiliar with innovations. You have a conventional method of analyzing your data. Don’t expect it to remain constant forever. Always expect someone to come up with a new solution to do the task. On the whole, the sector is highly unpredictable. Thus, embrace and encourage change always. Consider Artificial Intelligence, for example. Organizations in the Fintech industry are investing heavily in making their offerings better with the help of AI. This amazing technology will lend a helping hand to investors in making smart yet profitable investment decisions.
4. Gaining Relevant Work Experience
The sooner you get relevant work experience, the sooner you will get familiar with the Fintech industry. Don’t wait for your degree program to get over. Look for Fintech firms that are looking for interns or apprentices. This not only gives you first-hand experience, but also gives you a hang of data analytics, financial problem solving, knowledge of financial software, and much more.
5. Deep Dive
Undoubtedly, there are tons of accounting/finance programs out there to impart you the basic knowledge. But merely relying on them won’t help you climb the ladder to success. It is important that you learn more about the industry and expand your knowledge base. One way to increase your knowledge is by reading finance and finance technology-related books. You can even tune into some finance channels on television to stay abreast of the latest happenings. On the internet, you can look for some prominent Fintech software and applications and read about them in detail. Attending industry events, getting in touch with people from the same sector, and knowing about some of the most renowned companies in the industry will surely help in catapulting your career in Fintech.
The Bottom Line
It’s just not your good grades that promise you an entry into the Fintech industry. In order to break into this sector, practical knowledge, networking, relevant skills, and work-experience are equally important. Work on these to make your mark in the ever-expanding Fintech Industry.
