A successful job application typically takes a lot of time and thought, lasting from the first draft you do up of your resume, all the way through the interviews, tests and assessment centres that are usually found in the hiring process, to signing on the dotted line and filling the position.
That already sounds tedious, but considering the popularity of the financial service sector, graduates and professionals alike will find themselves contesting for job roles. As such, recruiters in this sector tend to shake things up by mixing both tests and interviews alike across their recruitment process.
These include psychometric (testing your capability in areas like numeric and logic), personality, situational judgement and technical tests, as well as a wide range of interview types (such as on the phone or panel interviews). In other cases, you might find yourself in an assessment centre, which tests your skills with a series of activities in a span of about a day.
Considering these recruiting practices among employers are common, trying to narrow down your options is a good way to avoid stretching yourself too thin. But before that, you should make sure that your applications, resume and cover letters are well-prepared.
Focus your job search
While you might have been encouraged to apply to as many employers as possible in school, this isn’t really advised for the financial service industry! In other words, rather than sending out 30 to 40 generic applications, finetune a handful for the organisations you really want.
How to focus your job search: Take the time to scour forums and job listings to identify potential employers that you’re most interested in working for, and get to know them well. You should be able to make a list of five to 10 organisations. Prioritise these companies when you start personalising your resume and cover letter to target each separately – whether by highlighting your skills that match their needs, or listing out relevant internship or part-time work experiences you have.
Documents you’ll need: Just before you begin sending out applications, create an “all-about-me” master document to keep on file. This document should contain details on your qualifications, work experiences (like internships or part-time jobs) and contact information. Update it as and when needed (e.g. you moved your portfolio from one website to another).
Once you’ve prepared this document, you can use it as a template to produce customised resumes by mixing and matching the details.
If an employer prefers candidates to apply via an online application form (like Barclays), print out a draft of your completed form and review it on paper before submitting it (proof-reading is more effective on paper than on-screen). If you’re able to, get a second pair of eyes, such as your career advisor, to help you proofread and ensure that your responses are grammatically correct and appropriate. You can also consider keeping soft copies of the forms for future references.
Pro of focusing your job search: If your job search is more focused, you’ll be able to prepare more efficiently for the application process should your resume get accepted.
Remember: Tailoring resumes and cover letters take time, so be sure to start early!
Bonus tip: When you’ve identified the companies you’re most interested in joining, send personalised letters to their recruiters. You can find the relevant email addresses, as well as their names and titles, in the job listing and description. In the letter, detail how you can contribute to the company’s growth, and be sure to highlight the skills you have that match their needs!
Keep track of, and attend, career events (both virtual and physical)
What career events are: When we say career events, we don’t just mean career fairs. Career events range from employer events, all the way to networking sessions and open days where companies open their doors to graduates, allowing them to get a look at what a normal day looks like at work.
These events are great opportunities for you to meet and network with recruiters and other professionals, and to find out more about employment prospects, requirements, working culture, the recruitment process and even market trends on the job market!
Start using a diary or planner (such as Google Calendar or your phone’s calendar): Once your job hunt gets into full swing, you’ll need to keep track of all the career events, networking sessions and recruitment assignment deadlines that you have on your plate. While keeping a diary, planner or calendar may seem like overkill, remember that you’ll be juggling your social life, academic and co-curricular activities, all while dealing with your job search!
Pro tip: A good way to keep track of things is to colour code your entries so that you can easily identify them at first glance.
Pros of attending career events: Career events provide a good opportunity for you to bring up any concerns you may have, that you weren’t able to allay over the course of your research (like workplace culture and company hierarchy). Some events also let you speak to fellow university alumni about their career journey with the company so far, as well as network with them so you can reach out for advice later on.
Bonus tip: Make it a point to do some research before you go for career events so that you have a general idea of the attendees at the event, like recruiters and fellow alumni. This way, you’ll be able to pinpoint professionals whom you absolutely must meet. Take note that it’s also a good idea to prepare an elevator pitch and a list of potential questions.
Understand, and use, technology around you
The nature of financial services means that the industry is constantly on the move, whether by mergers, transactions, movement of data to the cloud, or other developments on a daily basis – so it’s vital that you keep up-to-date with everything that goes on in the news. Moreover, you also need to be aware of the impact that these changes have on individual employers, especially your potential employer and their competitors.
For instance, if your potential employer has moved all client data to the cloud and changed their means of communication with clients to SMS rather than paper receipts sent over mail, that means that they likely have an agreement with a telecommunications company to push their messages out. Find out what this means for your potential employer (such as more outsourced work, or a more efficient way of engaging with clients, etc.). If their competitors are doing the same thing, find out how they set themselves apart from them, too.
How else to use technology in your job hunt: Most companies now maintain presences on job sites, and social media platforms such as Facebook, Instagram, Twitter and YouTube. Subscribe to the companies on these platforms so that you can receive constant updates and recruitment advice they normally give out when they’re hiring.
Bonus tip: If you rely on Google a lot, you can make use of Google Alerts to help you keep track of news on potential employers. Alternatively, you can use RSS readers, like Feedspot, to check regularly for new information. Rate-and-review sites like Glassdoor can also be used to get insights on the company’s workplace culture. However, be sure to also take in the comments with a pinch of salt, as some of them could be outdated or even be outright rants.
Get involved – and keep a record
While courses and studying in university can be rigorous, don’t make your university life solely all about your academics! Participate in CCAs or societies that can help you develop your skills and competencies that are relevant to the finance industry (like communication and interpersonal skills).
How to keep a record: Draw up a list of technical and soft skills that are relevant to the financial services industry that you’d like to develop. As you build your skills, refer to the list so that you can keep track of your progress!
In addition, keep track of all the activities or projects that you’ve been involved in – both academic and personal – so that you can draw on them for examples when you’re asked competency-based questions at job interviews. Academic projects can be your final year project, and an example of a personal project is maintaining a blog on your life experiences.
When used all together, these tips will help you keep your job search focused and well-planned. All the best in your job hunt!
