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it can be really frustrating being in a position where you haven't got relevant experience for a particular job and you feel like you're in a catch-22 situation where you can't apply for that role without this prior experience it's something i see so many people suffer from and in this video i'm going to provide some strategies that you can adopt if you want to become a financial analyst without any experience an analyst role within the finance sector is highly sought after by people who've studied accounting business economics and various other degrees by adopting the strategies that i suggest in this video you'll set yourself up for success when it comes to landing your first role in finance i started my career in finance as an analyst with one of the big four accounting firms and the strategies which i'm going to share with you is what i've seen people adopt and be successful with so let's start with how you can find potential roles as a financial analyst there are three different methods that i'm going to suggest which i feel are going to be the most helpful the first of these is utilizing your existing network speak to your friends and to your extended family to find out whether they know anyone that works in finance or has a commercial role in the company don't be shy of advertising the fact that you want to become a financial analyst the more people that know about this the higher your chances are of actually achieving it make sure you also speak to your wider network and not just the people that you speak regularly to because you never know where opportunities might come from when you advertise your intentions to your network it's less likely that you'll hear about financial analyst opportunities directly a more likely scenario and one that's definitely going to be beneficial is where you get in contact with someone who works in finance or who has a commercial role and they can provide you with information on what analysts do in their organization i definitely take up any opportunity such as this that comes your way because it allows you to gain a better understanding of the role later on in this video i'll elaborate more on why this is so important the next way is to search on company websites directly i know this is a bit of a manual exercise but there's no way around it most large companies now will advertise their vacancies on their website and what i'd do is write down the top 50 or so companies in the sector that you want to work in and visit each of their websites looking at their careers page if you're in a position where you haven't got any experience it's less likely that you're going to be successful with the largest companies on your list these are the firms that a lot of people will know about and have heard of and there'll be a large amount of people applying for each open role you'll have much better chance of success with the smaller firms the ones lower down your list and that's because they'll have far fewer applicants per open position and i know you might have ambitions to work for the larger more recognized firms but you have to think about longer term opportunity here once you get some experience under your belt with a smaller firm you can potentially think about moving across to a larger firm in your sector by then you'll have solved your problem of not having enough experience and you'll be in a much better position to apply for roles in the larger firm plus you might even get more responsibility at an earlier stage at the smaller firm think about the role as a smaller firm as a stepping stone if you're after a role with one of the larger firms in the sector the final strategy is to utilize linkedin and now linkedin is something that everyone talks about and for good reason it's an incredibly powerful tool when it comes to job hunting and you should definitely be using it the two distinct ways in which i'd be using it in this scenario the first is to directly look for opportunities that are posted on linkedin a lot of companies large and small post their vacancies on linkedin so you should be able to quickly search for analyst roles which are available similar to what i said before the roles with the smaller films are going to be less popular when it comes to number of applications and so you're more likely to have success with them the second way to use linkedin is to search for analysts and senior analysts at companies that you want to work for and reach out to them via linkedin message what you're trying to do when you reach out is not necessarily ask them about any direct positions that are available but to try and understand what their day-to-day job looks like and how they've landed their role that they're currently in especially if you don't have any experience there's a bit about understanding what they do is critical when you eventually do get an interview or speaking to someone that can help you land an interview it's really important that you show them that you're aware of what the day-to-day job entails because if you don't they'll believe that you haven't done the adequate preparation they won't have much confidence in you potentially doing the job if you even don't know what the day-to-day role entails that's why it's really important that you make the most of your network and have conversations with people that work in finance or are in analyst positions so you get a better understanding of what your responsibilities will look like clearly your interviewer will appreciate that you've not been in the role before so you won't have all the details to hand but you do need to have a general idea if you can't give any details that can look even more impressive aside from the role itself you need to have an awareness of what's going on in the industry that the firm operates in during your interview you should show knowledge of the high level industry trends which are impacting the firm because it shows that you've done your preparation and that always goes down well this was something that i received positive feedback on during my interview and it's something that's really easy to prepare for you can search the internet for articles and videos about the industry and there's no shortage of individuals giving their opinion on certain sectors and finance being one of them make sure you understand how the trend directly impacts the company you're applying for one piece of news that often impacts the financial sector is regulatory changes those that have happened or those that are about to happen you can often bring up these points in conversation during your interview and it shows that you're a switch on individual that's aware of the business environment talking about all these elements such as what the day-to-day job entails and what factors are impacting the business etc all show that you're willing to invest time in preparing for the interview which is certainly expected also another way to stand out from other candidates who'll inevitably do their own research as well is to have an opinion on how certain trends can impact the business in unforeseen ways or how you expect future consumer behavior to change and how that will impact the business when you're explaining your hypothesis make sure that you walk them through how you came to your conclusions because it's a great way to show off your logical reasoning ability if i were the interviewer i'd be much more impressed with someone who's thought through their idea and applied some logical thinking to the situation rather than just provide a basic answer which is widely known being correct with your prediction is not the real goal here is to show that you've got an understanding of the market that the business operates in without having any direct work experience during your interview you might be asked some basic technical questions and it's important that you answer these accurately because it shows that you've got a solid foundation from which to build on as an analyst in an investment bank for example you might be asked to explain why and how a discounted cash flow model is used or what other evaluation methodologies are there you can prepare for these questions beforehand and so there's no excuse not to get these answers correct you might not have had the opportunity to implement these techniques during work but you should still be able to talk to them and explain their workings if you haven't got work experience it's incredibly important that you nail things such as answering technical questions because you can't give your interviewer any excuse to rule you out another way to brush up on your technical skills is to take a course on a particular topic or subject for example you might do a course on valuations specifically or you could do a course on general finance theory which will undoubtedly have valuations within it amongst other topics not only will you gain technical knowledge through these courses you also show that you're willing to spend time learning about finance which will be appreciated by any firm there are various different ways to do courses and certainly online courses are also an option i remember when i was at university i did a few courses from a free online course provider called coursera and i found these really interesting so you might want to check them out as well i've done two finance courses one on financial markets and the other on investment theory and both these courses really helped me to cement the knowledge which i started to develop on my university course let's say though that you actually have some experience under your belt but you're not a financial analyst and the experience that you do have is not really in the finance field if you want to move across and work in finance as an analyst you need to position yourself in the most optimal way and highlight the skills that you've developed in your current role which are applicable to the role of an analyst i've made a separate video covering the skills you need as a financial analyst and i'll leave a link to that after this video ends but just to give one example you need to have good attention to detail as a financial analyst think about where you've had to apply attention to detail and really emphasize this during any interview that you have you can elaborate on what could have gone wrong if you hadn't paid attention to detail and you can talk about what you did to ensure that you didn't make any mistakes even though you might not feel that this is relevant to what an analyst does you're explaining to them that you've applied this skill in a professional environment and this will be viewed positively the more of the key skills that you can talk to during your interview the better position you'll be i hope you found this video informative and if you have any questions please leave them in the comments below as mentioned before if you want to learn more about what skills you need as a financial analyst click on the video on your screen right now thank you for watching and i'll see you in the next one