How to Get a Job in Finance with NO Experience?
Posted on 13 Jan 2018 Blog Image

Present scenario of job culture is based completely on first, the experience and second the qualification. Work experience is the most vital component in an employee, which an employer inspects first. In this competitive world, there are a very few jobs which do not require any experience to qualify. Whether you are a fresh graduate or transitioning from some career, these are a very few options that offer jobs without experience. With increasing population, there is increase in the demand of goods & services, which is directly & even indirectly related to financial systems. Banks, the financial service provider being the backbone of the economy, have two major responsibilities, planning and providing the service to member of banks. Both work functions require a special set of skilled people to meet the demand and supply gap. Planning is done by Certified Financial PlannerCM and service is provided by the employees of the banks, who get through the recruitment process.

If your goal is simply to retire, still be able to pay the bills and maybe a take a few trips each year, that's one thing. If your goal is to trade in your spot in cube city for a spot behind the counter at your own bakery, that's another thing entirely. Instead of asking yourself, "How much do I need to save," ask yourself, "How am I willing to change my lifestyle in order to achieve my goal?" From there, it's more about the mechanics of orchestrating a transition than it is about saving a certain amount of money or earning a certain rate of return on your investments. Financial planning isn't just for the wealthy. It's for everyone. In this world where people are more responsible than ever for their financial lives, it’ is very important that people understand the key things they need to do in each juncture of their life. With only 10% of the demand met for good CFPCM, this is an emerging field in BFSI domain.

Moreover, if compared with CA, CFA or any other chartered certifications, which requires a lot of time and effort to get through, CFP course can be completed with less time and effort as compared above mention courses. Topics such as Insurance planning, Investments and securities planning, Estate planning, tax planning, retirement planning etc. are covered under the designed curriculum. And this can be completed within six to eight months by passing five modules. If one wishes to pursue a job in finance field, this could be much easier along with graduation. This can also be completed before graduation, so a candidate can graduate with multiple certifications, which will make an apt condition for finance jobs, without any prior experience.

With technological advancement in BFSI domain, the requirement for workforce with updated knowledge and technical skills is increasing. Meeting the supply for such demand only means the financial services should be better calibrated with appropriate workforce all the time. This means the banks should be equipped with qualified and skilled employees. As the technological era has begun, the old work force equipped with traditional practicing knowledge soon will retire and become obsolete. People have to evolve with the world and so do the employees. Banks being the backbone of economy need new and updated workforce appointed every year.

To meet the demand in this sector, DBF - Diploma in Banking and Finance takes care of the need for entry level recruitments. This course in certified by India Institute of Banking & Finance (IIBF) and approved by Indian Banking Association (IBA), which enlists 136 banks as a desirable qualification for entry level recruitments in bank. Since 2007, out of 12,085 passing candidates, 11,176 have been absorbed by the banks. This quantifies the absorption rate of 92.5%, which indicates demand in this field. This figure concludes one thing that for an entry level job in a bank with DBF certification, it is not mandatory for a candidate to have experience.


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