Graduate Profile: Economics

A Flinders University Bachelor of Economics student gained a position in the Financial sector in Adelaide. Here is his advice for students.

What qualities are required to work in the financial sector?

A broad range of qualities are required, however predominantly they revolve around identifying opportunities to create value for customers.

1. the ability to research and investigate on both a micro basis (eg processes) and a macro basis (eg environment and industry trends and issues)
2. to assess and evaluate such research in order to develop innovative solutions; and
3. to present the results in a competent and confident manner are all essential to this process.

Other related qualities include the ability to listen; to be self motivated; the ability to manage both individuals and teams within a project environment; problem solving; decision making; negotiation/liaison and consultation skills; and organisation.

What do employers look for?

Employers in financial markets look for people who have an economics/business background. However, these days there is also a strong emphasis on Maths and PC skills eg Lotus, Excel

An understanding of the banking/finance sector both domestically and globally is necessary when dealing in financial markets. Understanding public finance and how it will likely impact on financial markets is essential.

To sum up, an Economics/business background is a useful first step if you are aiming to enter the financial markets, augment your study with maths and developing your spreadsheet skills. Most importantly you have to be very keen and have a passion for the industry. It is extremely demanding, high pressure and long hours; therefore unless you want to be there you will find it hard to survive. On the other hand it is very rewarding both financially and from a personal satisfaction point of view.

The Securities Institute offers courses aimed specifically at the financial markets. If you are looking to pursue a career in the financial markets post graduate study at the Institute is highly recommended either while looking for a job or when you have one.

What advice would you give to applicants seeking a position similar to yours?

Have a clear vision of where you want to be. Be prepared to make your own luck by taking calculated risks in trying to get there. Be prepared for the time continuum, but pursue knowledge and experience, informally (eg reading) and formally (eg further education) outside your chosen area in order to add value to your own capabilities.

How did you find your position?

1. Look through the Financial Review (inparticular Friday). This is where you tend to find the most ads for graduates and trainees within the industry.
2. Make a list of banks, brokers, insurance companies, financial services organisations and send away your resume. As an indication I sent away over 100 resumes at start of third year.
3. Build up contacts with people in the industry. This is another good reason to do the Securities Institute Course, a lot of the students work in the industry as do almost all of the lecturers. Why not take some topics while doing the final year of your degree?
4. Be prepared to move to the Eastern States. Unfortunately this is where most of the jobs are.