Having worked long and hard to get their degrees, many graduates may now be wondering how to get into the world of work. No sooner are the slog for finals and the post-results celebrations over than the harsh realities of the world of work come into focus all too clearly.
Some may have already received rejection letters to applications for jobs or internships, which they had hoped would give them the relevant experience to get into their chosen careers. It takes real strength of character to remain positive in the face of rejection. Finding your first rung on the career ladder, however, need not be half as daunting as it at first appears, provided you do a little research and find new ways in.
Finance and financial services are one of the most sought after sectors for graduates. The graduate training schemes of the large banks, consultancies and insurance companies are well-known and an excellent start.
But don't rest there; the sector is far more diverse. Over 90% of financial services companies are small and medium-sized businesses. Many of these firms up and down the country are also looking for bright, keen and motivated graduates to become future business leaders.
There are a multitude of roles and career paths to choose from. You could work in accounting, book-keeping, in a finance function or in payroll. None of these are restricted to the finance sector; they are required by businesses everywhere, offering you great career flexibility. Alternatively you might train as an accountant with a small high street practice, as an insurance broker with a small retail insurance practice, as a financial adviser with an independent advisory practice, or possibly as a paraplanner.
Some young people find it difficult to find out what these specific roles entail, and which organisations offer opportunities. It's important to do your research, and a good place to start is an online careers portal called Directions, which offers independent information on many roles. Over 70 different job profiles are searchable there and you can view short films giving you a feel for what it would be like to work in these roles.
There are many benefits in working for a smaller firm, as every member of staff makes a difference. The hierarchy is likely to be flatter, and there will be more opportunities to make your mark and develop managerial potential at an early stage. You will be able to see the effect your work has on the firm, its revenue and your customers from day one.
Many graduates feel they are in catch-22, told they do not have the experience required for a job, but cannot gain work experience. But help is at hand if you want a career in the finance sector. For example, this October, a new Graduate Foundation College opened its doors to 150 selected unemployed graduates. The college provides a concentrated 10 week programme of e-learning, face-to-face workshops and exam preparation, followed by 6 months' paid industry experience with financial advisory firms. The aim is for the graduates to find positions as trainee financial advisers with participating small or medium-sized firms.
Whether this proves to be your way in, or you choose one of many others, it might just be that your ticket to success in the financial sector is small but beautiful.
Liz Field is the chief executive of Financial Skills Partnership
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