Which is better SBI or Standard Charted

Successful entry into the banking and finance industry

Business administration graduates have completed several years of study and are fit in all matters relating to numbers and finances. That should be enough to get off to a successful start with a bank or financial service provider - right? Even if the newcomers may not like to hear it: the answer is no. In order to score points when applying in the financial sector, you need more than just a degree. Which professional qualifications do the HR departments particularly like?

Deal with the industry of your dream employer

Areas of study: Business administration is usually a subject that conveys a fairly broad economic knowledge. For the specific questions in banks and financial service providers, it makes sense that students have already dealt with the industry of their dream employer during their studies. Depending on the entry-level position, these can be key areas of study such as accounting, controlling and insurance. Subjects such as statistics and risk management are also welcome. Since banks and financial service providers are popular employers, a very good degree is helpful in order to stand out from the crowd.

Gathering practical experience makes it easier to start your career

Practical experience: Good theoretical knowledge is not everything - it is much more important to have practical experience before starting your career. They not only help you to find your way around faster, but also avoid the practical shock. In internships, internships or as a student assistant, students can get an overview of relevant tasks and areas before they graduate. Internationally active companies sometimes even offer internships abroad. Practical assignments not only help the employer to get to know the candidate in advance, but also let the applicant recognize where his or her own strengths and preferences lie. Completed vocational training, for example as a bank or insurance clerk, is also welcome in the industry.

Deepen language skills abroad

Language skills: The financial sector is international: Many banks and financial service providers in Germany operate worldwide or are part of international corporations. Therefore, English skills are often expected in order to be able to communicate securely with colleagues and business partners around the world. School English is not enough here - the language requirements range from ›business fluent‹ to ›excellent‹. It is best if applicants have refined their English skills during a stay abroad or in a semester abroad. Internships in English-speaking countries are also very valuable, because the interns get to know the technical language of their industry directly. Depending on the international orientation of the company, additional foreign language skills are welcome. In addition to Spanish and French, these can be, for example, the languages ​​of emerging economies, such as Chinese or Eastern European languages.

IT skills are a clear competitive advantage

IT skills: Business economists do not need to have any programming skills - the colleagues from the IT department are responsible for this. But they should be able to handle all common IT standard applications such as Word, Excel and PowerPoint safely and know how to process and present numbers well. As the finance and banking industry is becoming more and more digital, a certain IT affinity makes sense. More and more processes are IT-driven, so that graduates shouldn't be afraid to familiarize themselves with technical processes. Anyone who works in e-commerce in the banking and financial sector, for example, will not be able to avoid in-depth knowledge in this area. Perhaps the applicant has already programmed their own website?

Project management plays an important role

Experience in project management: More and more tasks are also being carried out in projects at banks and financial service providers. If you want to lead such a project at short notice, you should deal with the topic of project management as early as possible and, for example, have had initial contact with it in internships. Attending a project management training course is also helpful in order to attract attention. Some companies also appreciate it when applicants already have experience in an agile environment and are familiar with methods such as Scrum or Design Thinking.

Further training qualifies for a successful career

Further training: There are frequent changes in the banking and financial sector: New legal regulations and rules are the order of the day. Therefore, applicants have to be ready to keep up to date with everything. Concrete training courses are also often essential in the financial sector. For example, training to become a Chartered Financial Analyst (CFA) or a Chartered Alternative Investment Analyst (CAIA) is a building block of a successful portfolio manager career. There are several qualification programs for bankers, some of which are offered by the German Association for Financial Analysis and Asset Management (DVFA). Special additional qualifications are also essential for certain professions. Securities specialists, for example, must have a EUREX license. Depending on your career goal, an MBA degree or an Executive MBA program can make sense. For the latter, professional and management experience is required. Some financial firms have their own corporate university or similar facilities where employees can take courses.

Real interest and extra knowledge

Interest in industry topics: The banking and finance job market is an attractive industry for many - not least because salaries are often higher than in other sectors. But the salary should not be the deciding factor in deciding on a career. It is much more important to actually be interested in the industry topics. Reading trade magazines, for example, can help prepare for current trends and developments. With this knowledge and a real interest in banking and financial services-specific topics, applicants can score more in the job interview than with good grades and a degree without additional commitment.