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Essential Tips for Young Professionals Navigating the Finance Industry
Entering the finance industry as a young professional can be both exciting and daunting. The opportunities for growth are immense, but there can be a steep learning curve. By following our helpful guide, you could help to accelerate your career development.
Building a Strong Network: Who to Connect with and How?
Actively network with professionals within and outside your organization. Attend industry and non-industry specific event - MYP breakfast clubs and drinks mixers are a great place to start for non-industry specific, where you can get to know industry professionals in unusual and diverse venues. Join LinkedIn finance related groups – are there LinkedIn communities for those looking to break into business lending or accounting, where you can message mentors and initiate a coffee and chat?
Louis Buntrock, Marketing Executive at Time Finance: “Networking is absolutely essential in the finance industry as it can open doors to new opportunities and provide valuable insights. Including new business sales opportunities, career progression opportunities and building a stronger network of contacts. As a young professional, you should look to go along to popular events within the industry from companies such as NACFB, Leasing Foundation, FLA and Asset Finance Connect.”
Mentorship and Guidance: How to Seek and Benefit from Advice
Seek out mentors outside and inside your organisation who can provide guidance and advice. A good mentor can offer valuable insights, help you navigate challenges, and open doors to new opportunities.
Charlotte Benton, Marketing Executive at Time Finance: “Don’t be afraid to ask questions to your colleagues, as their experience and knowledge will be invaluable to you as you progress through your career. You can further expand your knowledge by seeking guidance from different teams within your organisation, allowing you to gain a deeper understanding of processes beyond your own role.”
Leveraging Technology: Tools Every Young Professional Should Know
Embrace technology and learn how to use industry-specific tools effectively. Whether it’s financial modelling software, data analysis tools, or everyday communication platforms, being tech-savvy can give you a competitive edge.
Sharon Bryden, Group Head of Operations at Time Finance: “To advance your career as a young professional, embracing technology is essential. The finance industry relies heavily on technological systems for security and efficiency. To hit the ground running, it’s crucial for young professionals to gain a strong understanding of CRM systems, LinkedIn, accounting software, and risk analysis platforms.”
Investment in Continuous Learning: Staying Ahead in Finance
Commit to continuous learning. Whether through formal education, LinkedIn learning certifications or just asking people in the office about their own journey, expanding your knowledge will keep you competitive in an industry which is constantly changing.
Caroline McDonald, Head of Marketing at Time Finance: “To reach the next level in your career, you should make the most of the resources available. Being proactive in your learning is key to expanding your expertise. You can do this by utilising training resources from the British Business Bank, UK Finance, FLA and Broker Academies. Also, it is important to stay up to date on industry news by signing up to newsletters from leading news publications.”