International finance careers are among the most lucrative jobs that deal with foreign investments, global concerns, and international exchange rates. This field offers several career options, including financial management, international banking, international trade, and business development. But how do you get started if you are passionate about a career in International Finance? Here is a guide to help ease the process.
Get a Good Education
Starting a career in International Finance requires that you get a good education, with most of the careers demanding an undergraduate degree in either accounting, business, economics, or finance. In some instances, depending on the seniority level of the position, the candidate may be required to possess a Master of Business Administration (MBA). Taking these studies will help you understand the key concepts in the field and stand out from the crowd. You can also consider pursuing a post-graduate course or diploma. Since the position may be of a different country, it is vital to learn its business law to help you execute your mandate efficiently.
Choose a Specialty
Similar to other fields, there are several careers in International Finance that you can major in. One of the main sectors you can concentrate on is Investment services. This sector involves working in the stock market to advise a forex trader on investments since you will already be knowledgeable on finance markets. You can also work with traders of various securities, including bonds and stocks, commodities, and financial services.
The other options would be to work in the private sector for a company or get into the public sector to work for the government. Another option you can undertake is to become an investment banker, venture capitalist or start your consultancy firm. If you are interested in the banking sector, you can consider working in commercial or community banks, fintech firms, and credit unions. Lastly, you can also choose to work in insurance firms as a representative, agent, or broker.
Enroll for Internationally Recognized Certifications
The International finance careers are highly competitive, and the candidates must be adequately trained and accredited in internationally recognized finance certifications. Seeking professional certifications will help you get ahead of the competition in various fields within your finance career. Some of the certifications that will help in this regard include the Certificate of International Financial Reporting (CertIFR), which will help you understand the principles and fundamental concepts of IFRS and its standards. You can also undertake the Licensed International Financial Analyst (LIFA) program, which will help you attain the necessary professionalism levels and develop ethics in investment management and analysis.
Secure Work Permits
Getting an international finance job may mean that you will have opportunities to travel overseas on work assignments or even relocate to a foreign country. You will need to obtain work permits, whether permanent or temporary. If you are interested in working in a particular country, it will help you understand the laws that govern that nation and begin sending applications for job vacancies in companies within its borders.
Gain Professional Experience
Gaining work experience is one of the best ways to start an International finance career. It is essential to understand and learn the expectations of the employers in the field, and the best way to do this is to enter the job market through internships and get real-life industry experience. It is much easier for international companies to hire individuals who have prior work experience since it helps them cut down on related costs such as training expenses.
Getting professional experience will also help you build a professional network which will become instrumental as you seek to grow in international finance. Gaining experience in the early stages of your career will also help you identify your strengths in the field. It will also help you determine the leading career of international finance to best pursue since you will have the opportunity to explore what they entail in detail. The best ways to get professional industry experiences are casual work, internships, work placements, voluntary work, and apprenticeship and insight programs.
International finance offers lucrative career options if you are willing to pursue them and invest in them. It is always an excellent decision to diversify your internship across several disciplines before picking the final specialty in international finance. If you would like to start a career in international finance, the above steps will guide you on how to go about it effectively.