Whether you’re looking for a graduate job or an internship, Singapore’s finance industry is a competitive field. It’s not a surprise for a number of reasons. For starters, Singapore’s easy to do business in, having come in second place in the 2020 World Bank’s Doing Business Survey. It also came in first place in the World Economic Forum’s Global Competitiveness ranking in 2019. And these don’t even touch on the fact that Singapore maintains more than 80 Avoidance of Double Taxation Agreements (DTAs) and 26 Free Trade Agreements (FTAs).

With these prestigious backings, as well as higher starting salaries, it makes sense that many graduates and experienced jobseekers alike want to enter the finance industry. The issue is that there are only limited positions available. And with Singapore’s talent competitiveness standing at first place in Asia Pacific in 2019 and third place globally in 2020, both as found by INSEAD, competition is stiff as employers have a wide and sophisticated pool of applicants to choose from.

With so many others to beat out, you need to stand out in a positive manner with some experience and knowledge. To get these, you don’t necessarily need to follow the defined beaten path. Here are some ways you can do so.

Apply speculatively

There are numerous benefits to applying speculatively, such as potentially expanding your network and showing a prospective employer your genuine interest. State who you are and what you’re looking for – such as shadowing or work experience – as well as what skills you can lend the company, alongside relevant experience. To read more on the nuances of applying speculatively, click here.

Some companies you can apply speculatively to include smaller financial institutions, which usually specialise in actuarial work or insurance loss adjustment. If you don’t mind not getting structured graduate or internship programmes, ask them about available positions and send in your resume along with a cover letter.

Attending or organising a career fair

Career fairs (physical or virtual) give students and employers a platform to mingle and build networks while also extending the chance for students and graduates to take a good look at the diverse opportunities and positions available.

On the other hand, there’s actually nothing to stop you if you want to organise your own event. You’ll likely have to involve the career centre at your university, and it certainly wouldn’t be easy, but the experience would definitely help you in your career search later. Adding this bit of experience to your resume will show prospective employers your commitment to joining the industry, your innovation and initiative.

Be a treasurer

All university clubs and societies need a treasurer. If you’ve stepped into the role, potential employers will be able to infer that you’re not just a team player, but also capable and skilled. After all, you understand how to take the needs of your club or society into consideration while also managing and handling budgets and money!

Other skills you’ll pick up is communication, time management, problem-solving and commercial awareness – skills employers in finance look out for. Add these skills and relevant experience to your resume, and make sure to point them out in interviews.

Entrepreneurship

Firms in the finance industry always keep an eye out for students with skills in entrepreneurship. In that vein, students who set up small businesses while in university usually end up impressing them. Although these ventures are typically not very big, and consist of everything between hand-painted notebooks and running blogshops, they show prospective employers commercial awareness, business intellect and an ability to budget.

Running a small enterprise will gain you precious experience, as well as a bit of pocket money. More importantly, you’ll develop a number of transferable skills, like problem-solving, planning and budgeting, that’ll get you ahead in the skills department. Be sure to allude to your experience and skills during the recruitment process.

Get an overseas internship

Although inconvenient to travel at the moment, nabbing an internship out of the country for a financial company can give you a headstart over other graduate applicants. One place this experience stands out is the duration of the application process – the skills and experiences you picked up from your time abroad can definitely set you apart. Just be sure to draw attention to it.

Additionally, employers will be able to perceive your adaptability, confidence and commercial awareness, as well as global and communication skills. Other benefits of getting a placement overseas are, among other things, expanding your network to include international contacts and employers, as well as the chance to develop a variety of transferable skills.

Joining or starting a network

If the opportunity to join a group interested in the finance industry presents itself while you’re still a student either in polytechnic or university, take it and begin building your network. Otherwise, if you don’t want to restrict your membership to your location or university, you can keep an eye out for groups on social media platforms such as LinkedIn and Facebook.

If you can’t find such a group, consider starting one of your own. This will showcase your initiative to future employers, and may also extend the chance for you to meet other professionals and students you may not have crossed paths with. Make sure to mention this to employers during the recruitment process – it’ll show your genuine commitment to a career in the finance industry!

Mentoring

Look for a mentor with experience in the area you wish to enter, and who’ll be able to help you form your network even as they encourage and counsel you on what skills recruiters and employers want. They can also guide you through the application process with different employers. Whatever it is you’re looking out for in a mentor, you don’t even have to restrict yourself to just one – if you have a few mentors, you’ll be able to glean more from their different experiences.

Consider looking for your first mentor among university alumni or family and family friends. You can even hop on social media platforms such as LinkedIn or ask around in networking events – though if you want to follow this route, express your desire for a mentor and intention to keep in touch.

Whether you’re a fresh finance graduate or a graduate with an unrelated degree looking to enter the industry, consider using these ideas to give yourself a leg up in the recruitment process. Remember, these ideas aren’t exhaustive, so take the chance to explore as well.