Any form of employment teaches discipline and responsibility, but a job in your particular field of study has quite a few additional benefits. Not only will it improve your CV to be able to list the experience, but it will also add a new dimension to your studies when you see academic principles and practices executed in the real world. You also will be able to network with experts and employers in the field of finance, and new doors may be opened to you that otherwise would be shut.
Luckily for you, there are roles for Master of Finance students at most major companies performing a variety of financial tasks. However, not every application for your degree will appeal to you. If you invest some time researching the array of financial responsibilities across many different industries, this will benefit you immensely as you settle into a full-time role upon graduation. What follows are suggestions of places to begin your search in order to find the perfect student job for you.
Check out: Student Jobs during Master Studies
Banking
The most obvious place for a finance student to look for a job is at a bank, of course. Banks must employ experts and professionals to manage the money of both individual and commercial clients. You will be able to see first-hand how money travels through a bank, from a front desk deposit to a commercial loan, and all the stops in between.
Bank employees learn all about interest rates, regulations, lending, risk analysis, currency exchange and forecasting, among many other things. With a student job at a bank, you can experience a variety of specialised financial tasks that may help you in choosing a focus for your permanent employment later.
Sales and credit
Every major company has a finance department to do things such as project revenue, analyse reports, manage assets and establish budgets. Some of those roles may overlap with accounting functions and personnel, but some businesses, such as automobile dealers, have an internal credit department solely for managing product financing. Companies need a way to help customers afford large-ticket items such as cars, equipment or jewellery, and so they lend customers money for the purchases.
Behind the scenes, the finance department must set parameters and establish procedures to minimise the risk associated with offering that loan to their customers. This includes risk analysis, money management, forecasting, collections and a host of other responsibilities that, in the end, have to make it worthwhile for a company to offer credit as an incentive for purchase.
Insurance
If you like risk management, take a long look at insurance providers because that is probably the industry for you. Everyone, at some point in their lives, requires some form of insurance: auto, health, life, property etc. Insurance providers have to gauge risk at every turn in order to keep their business profitable while paying out claims to customers.
Risk management is a vital part of any insurance company’s everyday operations. Deciding how much to charge for individual or corporate policy premiums based on the likelihood, or risk, of paying out a claim requires very careful and accurate forecasting. There is a lot to learn at an insurance agency.
Asset or wealth management
The profitable management of money or assets is a highly desired skill. Companies must manage inventory, equipment and property in a way that maximises corporate profitability and minimises risk. Wealthy individuals have a constant need for financial advice and planning to invest their money as wisely as possible, maximising returns and minimising losses.
This work must take into consideration complex tax and accounting rules and regulations as well as investment returns and market conditions. The payoff for such responsibility can be high, but so can the risk. If you like to make money grow, you may enjoy corporate asset management, individual consulting or even a position at an investment banking firm.
Check out: Great Student Jobs for Masters in Marketing
During your part-time student employment, ensure to ask as many questions as you can and take advantage of the time you have to learn new skills. If you have trouble getting in the door of a business you are eager to work for, persistence may pay off. A cutting-edge business will welcome the fresh perspectives of a current student, and the contacts and connections you will make can be invaluable.
As comprehensive as your studies are or will be, there is truly no substitute for practical, real-world business experience. If you can effectively manage your time between working and studying – without sacrificing your grades – a part-time job utilising the skills you are acquiring in your Master’s degree programme will be worth the effort.
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