Think you have what it takes to begin a graduate career in finance? If you have a degree, but can’t communicate effectively and lack commercial awareness, think again!

Academic qualifications alone are simply not enough. Anyone seeking a financial career needs different skill sets according to their specialism and firm – but there are common themes. So, how do finance recruiters focus on what to look for in graduates?

Commercial awareness

Understanding how businesses operate is incredibly important in the financial sector; you need not only to understand your employer’s business, but also to consider how your work relates to external commercial concerns.

Making decisions regarding the provision of financial support requires crucial business awareness. Jenny Elliott, a qualified actuary with the Divisional Strategy and Planning Team of Norwich Union, explains:

’Actuaries are a driving force, working in increasingly wider fields and affecting so many different departments that they need to understand how a business ticks. Commercial awareness affects everything an actuary does. Factors such as market trends, product prices, shareholder dividends, even future legislation, make a huge difference to an actuary’s work. We don’t operate in a vacuum.

’Understanding the theory behind your calculations is important, but equally important is being able to apply that theory to the reality of the business.’

Communication and people skills

No-one works in isolation and employers look for graduates with good communication skills and the ability to work as part of a team. Frank Garvey, Student Recruitment Manager at the Chartered Institute of Public Finance and Accountancy, says:

’Most graduates start their career working as part of a team and eventually move into a team-leadership role. A good finance director will often have to communicate fairly complex financial issues to a non-finance audience, and do so simply and tactfully; graduates need to understand and acquire the skills involved.

’Employers are looking for good communication skills and leadership potential in their graduate recruits. What positions of responsibility have graduates held, if not in the workplace then in clubs and associations, possibly at school or college?

’How have they worked with their colleagues and friends, solved problems and ensured that tasks ran more smoothly? These are the sorts of questions graduate recruiters are looking to answer.

’Financial training will start from the time a graduate joins an organisation, so the subject of their degree matters less than the fact that they can fit in, work well with their colleagues and deal easily with organisations and the public.’

Enthusiasm and motivation

A career in finance is hard work, but very rewarding – both financially and in terms of job satisfaction. To make the most of the opportunities offered, graduate trainees need enthusiasm and motivation. Rowan Kennedy, Sales and Marketing Executive at the Institute of Chartered Accountants of Scotland, explains:

’Anyone wanting to become a chartered accountant needs to study for a professional qualification, and they are certainly not easy! Chartered accountant students are often surprised at the volume of work they have to get through.

’Many have worked hard at university, often combining their studies with part-time work, but the reality of doing a long working week and then studying on top is a bit different. Chartered accountant students need to juggle heavy demands on their time and recognise that their social life will suffer. Such sacrifices require a high level of motivation and enthusiasm.

’Time pressures are part of the job too, particularly when there are deadlines to meet for clients. Students need to be prepared to put their clients’ needs first and adopt a professional approach from the start’