Managing consultant of the banking and finance team
Career change within finance sector
I have 7 years experience in Corporate and Business banking - lending, mainly as Credit analyst but also as Relationship Manager. I am also an MBA graduate. How can I make a career change to Corporate Finance?
Fraser Douglas - Career Doctor
Posted Monday 19th May 2014 10:18:00 PM
Dear Amma, Thank you for your question. So, you’re looking to switch careers from Corporate and Business banking lending into Corporate Finance? It is going to be hard to make such a move but not impossible. Let’s explore how you can maximise your chances. Employers look for people with transferable skills that can be quickly and effectively applied in the new position. You mention your experience includes an MBA, credit analysis and also relationship management but what you don’t mention is what type of role you are looking for in corporate finance. If you’re looking to work as an analyst, you will want to emphasise your analytical or research experience on your CV and if you’re looking to work in more of a coverage role you will need to highlight your relationship management skills. If you currently focus on a specific sector that could be additive and you should also look to emphasise relevant components of your MBA. The above will help and should mean your CV gets more than a quick glance but in your job search you will be competing with people who have direct experience in corporate finance and also other people who are looking to switch careers, so you need to explore how you can engage directly with potential employers. Recruiters are paid a fee to help employers find specific skills sets, most likely someone already doing the job in another firm. If a firm is looking to hire someone who will need training, they are more likely to hire through their own network or from direct applicants so don’t rely on recruiters to help you make a career switch. You should target firms advertising directly or approach people in your network who work in corporate finance and see if they can help you or by refer you on to other contacts who are actively recruiting. Joining corporate finance social networking groups and asking for help or guidance there could also be beneficial. Employers will want to know you are committed to this move and are doing everything you can to build your skills in this direction. Taking unpaid internships to build experience would certainly prove this but may not be financially viable. Try to expand the scope of your current role to build key skill sets that will be attractive to a potential employer. I hope you find this helpful. Good luck in your job search!