Best Entry-Level Finance Jobs That Will Lead to a Great Career

It is important to get off on the right foot when beginning your career. With this list, you will be much more prepared for your future in finance!

Entry-level finance jobs offer a valuable starting point for launching a career in the financial industry. These positions can vary widely in their focus areas, including investment banking, financial analysis, advisory services, and more. These entry-level finance jobs, each offer a unique blend of opportunities for growth, skill development, and financial rewards! Personally, I think that the ability to grow, gain knowledge, move up in the company, or move higher up in job ranking is most important when deciding what entry-level job you get, so I put a heavy emphasis on this aspect. I have also listed the career paths that come with these positions, along with some extra information that is relevant to the jobs!

Financial Analyst:

As a financial analyst, you'll assess investment opportunities, analyze financial data, and create financial models. This role is critical for businesses making investment decisions and offers a deep dive into financial markets and corporate finance. The career path of a financial analyst can be diverse and rewarding, offering numerous opportunities for advancement and specialization. Generally, the journey begins at an entry-level analyst position and can progress through various roles leading to senior management positions or specialized expert roles. Here's a typical career path for a financial analyst:

1. Entry-Level Financial Analyst

• Responsibilities: Conducting basic financial analysis, creating financial models, assisting in the preparation of reports, and performing market research.

• Skills Developed: Financial modeling, data analysis, understanding of financial statements, and proficiency in Excel and other financial software.

2. Senior Financial Analyst

• Progression: After gaining several years of experience, typically 2-5 years, an analyst may advance to a senior role.

• Responsibilities: Taking on more complex analyses, overseeing financial planning processes, mentoring junior analysts, and contributing to strategic decision-making.

• Skills Developed: Advanced financial modeling, strategic thinking, leadership, and communication skills.

3. Finance Manager

• Progression: With additional experience and demonstrated leadership capabilities, a senior analyst can move into a finance manager role.

• Responsibilities: Managing a team of analysts, overseeing the financial operations of a department or business unit, budgeting, forecasting, and strategic planning.

• Skills Developed: Leadership, management, comprehensive understanding of the business's financial operations, and strategic planning.

Specialization Opportunities:

Along this path, financial analysts may also choose to specialize in areas such as:

• Investment Analysis: Focusing on evaluating investment opportunities, managing portfolios, and providing investment advice.

• Risk Management: Specializing in identifying, analyzing, and mitigating financial risks.

• Corporate Finance: Concentrating on capital raising, mergers and acquisitions, and financial structuring within corporations.

• Financial Planning and Analysis (FP&A): Specializing in budgeting, forecasting, and providing analytical support for strategic decision-making.

Certifications and Education:

Advancement in this career often requires continuous education and obtaining professional certifications such as:

• Chartered Financial Analyst (CFA)

• Certified Public Accountant (CPA)

• Certified Management Accountant (CMA)

• Master of Business Administration (MBA) or other relevant advanced degrees.

Investment Banking Analyst:

This highly competitive role involves working in investment banks to help companies raise capital, undergo mergers and acquisitions, and manage complex financial transactions. It's known for its demanding hours but offers excellent compensation and a fast track to high-level finance careers. The career path in investment banking is structured and highly competitive, offering significant financial rewards and opportunities for professional advancement. Investment bankers play a crucial role in capital markets, assisting clients with mergers and acquisitions (M&A), initial public offerings (IPOs), and other significant financial transactions. Here's an overview of the typical career progression for an investment banker:

1. Analyst

• Duration: 2-3 years

• Responsibilities: Analysts perform the groundwork of investment banking, including financial modeling, preparing pitch books, conducting industry research, and supporting deal execution.

• Skills Developed: Financial analysis, modeling skills, valuation techniques, and proficiency in Excel and PowerPoint.

2. Associate

• Duration: 3-4 years

• Progression: Typically, after completing an analyst stint or obtaining an MBA, individuals can enter as or be promoted to associates.

• Responsibilities: Associates manage analysts, work closely with clients, and are more involved in deal structuring and negotiation. They play a key role in the execution of transactions.

• Skills Developed: Leadership, client management, advanced financial modeling, and deal structuring.

3. Vice President (VP) / Director

• Duration: Varies, typically 3-5 years at the VP level

• Responsibilities: VPs or Directors lead deal teams, manage client relationships, initiate transactions, and are responsible for the success of deals. They are more strategically involved in business development and networking.

• Skills Developed: Strategic thinking, client relationship management, business development, and negotiation skills.

4. Managing Director (MD) / Partner

• Progression: Achieving the MD or Partner level is a significant milestone in an investment banker's career.

• Responsibilities: MDs or Partners are responsible for generating business, maintaining high-level client relationships, overseeing transactions, and setting strategic direction for the firm or their division.

• Skills Developed: Leadership, high-level strategic decision-making, extensive network in the industry, and expertise in financial markets.

Specialization Opportunities:

• Industry Groups: Investment bankers often specialize in specific industries (e.g., healthcare, technology, energy) to develop deep expertise.

• Product Groups: Some focus on particular financial products or transactions, such as mergers and acquisitions, equity capital markets (ECM), or debt capital markets (DCM).

Certifications and Education:

• MBA: Many investment bankers pursue an MBA, especially those entering as associates from another career path or looking to advance to higher positions.

• Professional Certifications: Although not as common in investment banking as in other finance careers, certifications like the Chartered Financial Analyst (CFA) can be beneficial.

Considerations:

• Work-Life Balance: Investment banking is known for its demanding hours, especially at the junior levels.

• Competitiveness: The path is competitive at every stage, with performance, networking, and client relationships playing crucial roles in advancement.

• Compensation: Despite the demanding nature of the job, investment banking is one of the highest-paying careers in finance, with bonuses making up a significant portion of the compensation.

The career path in investment banking requires dedication, analytical and interpersonal skills, and a strong work ethic. Success in this field is rewarded with high compensation, prestigious professional status, and significant opportunities for impact in the financial world.

Financial Advisor:

As a financial advisor, you'll help individuals manage their finances, including investments, estate planning, tax advice, and retirement planning. This role requires strong interpersonal skills and a deep understanding of financial planning. The career path of a financial advisor involves several stages, from entry-level positions to more advanced and specialized roles. Financial advisors help individuals manage their finances, including investments, insurance, taxes, and retirement planning. Here's a detailed look at the typical career progression for a financial advisor:

1. Entry-Level Financial Advisor / Junior Financial Advisor

• Responsibilities: Initially, you may start as a junior advisor, supporting more experienced advisors, conducting financial research, and learning to develop financial plans for clients.

• Skills Developed: Basic financial planning, client interaction skills, understanding of investment products, and regulatory knowledge.

2. Financial Advisor

• Progression: After gaining experience and necessary certifications, you become a full-fledged financial advisor.

• Responsibilities: Meeting with clients to assess their financial needs, developing personalized financial plans, recommending financial products, and regularly reviewing client accounts to adjust plans as needed.

• Skills Developed: Comprehensive financial planning, investment strategy, communication, and client management.

3. Senior Financial Advisor

• Progression: With years of experience and a growing client base, you can advance to a senior advisor role.

• Responsibilities: Managing more complex client portfolios, providing specialized financial advice, and possibly leading a team of junior advisors.

• Skills Developed: Advanced financial analysis, leadership, and specialized financial knowledge (e.g., tax planning, estate planning).

4. Independent Financial Advisor / Private Practice

• Progression: Some advisors choose to start their own practice or become partners in a financial advisory firm.

• Responsibilities: Running a business, developing a client base, providing comprehensive financial advice, and overseeing all aspects of client management and service delivery.

• Skills Developed: Entrepreneurship, business management, advanced client service, and financial planning skills.

5. Specialist Roles

• Options: Financial advisors can specialize in areas such as wealth management, retirement planning, estate planning, tax advising, or work with specific client demographics (e.g., high-net-worth individuals, families, small business owners).

• Skills Developed: Deep expertise in specialized areas of financial planning and advisory services.

Certifications and Education:

Bachelor’s Degree: Typically required in finance, economics, business, or a related field.

Certifications: Obtaining certifications can enhance credibility and knowledge, such as:

• Certified Financial Planner (CFP)

• Chartered Financial Consultant (ChFC)

• Certified Investment Management Analyst (CIMA)

Continuing Education: Staying updated with financial laws, products, and planning techniques is crucial for career advancement.

Considerations:

• Building a Client Base: Success as a financial advisor often depends on the ability to attract and retain clients, which can take time and requires strong interpersonal and marketing skills.

• Regulatory Requirements: Financial advisors must adhere to various regulations and may need to register with regulatory bodies, depending on their specific roles and the services they provide.

• Compensation Structure: Financial advisors can be paid through fees (fee-only advisors), commissions on the products they sell, or a combination of both (fee-based advisors).

Commercial Banking Analyst:

Working in commercial banking, you'll deal with a variety of financial services including loans, credit products, and banking services for businesses. This role offers a broad view of finance and banking operations. The career path in commercial banking offers a variety of opportunities for growth and development within the banking industry. Commercial banking analysts work with businesses, providing a range of services including loans, credit products, treasury and cash management solutions, and financial advising. Here's an overview of the typical career progression for someone starting as a commercial banking analyst:

1. Commercial Banking Analyst

• Starting Point: Entry-level analysts conduct financial analyses, prepare credit reports, assess risk, and support senior bankers in managing client relationships.

• Skills Developed: Financial analysis, understanding of credit risk, proficiency in financial modeling, and foundational knowledge of banking products and services.

2. Associate / Relationship Manager

• Progression: After gaining experience, typically 2-3 years, analysts may be promoted to associates or relationship managers.

• Responsibilities: As an associate or relationship manager, the focus shifts towards managing client relationships, identifying client needs, and proposing tailored banking solutions. This role involves more direct interaction with clients and a deeper understanding of their businesses.

• Skills Developed: Client management, negotiation, product knowledge across various banking services, and the ability to develop tailored financial solutions.

3. Vice President / Senior Relationship Manager

• Progression: With further experience, professionals can advance to senior roles such as Vice President or Senior Relationship Manager.

• Responsibilities: Senior professionals are responsible for managing larger and more complex client portfolios, developing strategies to grow the bank's client base, and leading teams of analysts and associates.

• Skills Developed: Strategic client management, leadership, advanced financial analysis, and a comprehensive understanding of commercial banking products and regulatory requirements.

4. Director / Executive Director

• Progression: The next step in the career ladder could be a Director or Executive Director position, overseeing a specific market, region, or product segment.

• Responsibilities: Directors are involved in setting strategic direction, managing key accounts, ensuring compliance with banking regulations, and contributing to the bank's overall business strategy.

• Skills Developed: Strategic planning, regulatory compliance, market analysis, and leadership.

5. Managing Director / Division Head

• Progression: At the top of the career path, individuals may become Managing Directors or Division Heads.

• Responsibilities: These top executives are responsible for the overall performance of their division, developing and implementing business strategies, managing risk, and representing the bank in the business community and with major clients.

• Skills Developed: Executive leadership, risk management, business development, and strategic decision-making.

Specialization Opportunities:

• Credit Analysis: Specializing in assessing credit risk and making lending decisions.

• Treasury Services: Focusing on cash management, liquidity solutions, and treasury services for corporate clients.

• Commercial Real Estate: Specializing in financing solutions for commercial properties.

• International Banking: Focusing on cross-border transactions and international trade finance.

Certifications and Education:

• Bachelor’s Degree: Typically in finance, economics, business administration, or a related field.

• MBA or Master’s Degree: An advanced degree can facilitate progression into more senior roles.

• Professional Certifications: Certifications such as the Chartered Financial Analyst (CFA) or Certified Treasury Professional (CTP) can enhance expertise and career prospects.

Considerations:

• Building Relationships: Success in commercial banking often depends on the ability to build and maintain strong client relationships.

• Regulatory Knowledge: Understanding and adhering to banking regulations is crucial throughout one’s career in commercial banking.

• Analytical Skills: Strong analytical skills are essential for assessing financial information, risk management, and tailoring banking solutions to meet client needs.

Portfolio Management Assistant:

Supporting portfolio managers, this role involves research, analysis, and administrative tasks to help manage investment portfolios. It's a stepping stone to more senior roles in asset management.

The career path for a Portfolio Management Assistant typically serves as an entry point into the field of investment management and finance, offering a foundation for progression into more advanced roles within portfolio management. Here's a detailed look at the typical career progression starting from a Portfolio Management Assistant:

1. Portfolio Management Assistant

• Starting Point: This entry-level position involves supporting portfolio managers in their daily operations. Responsibilities may include administrative tasks, assisting with research, compiling financial data, monitoring portfolio positions, and preparing reports for clients.

• Skills Developed: Basic understanding of investment strategies, financial markets, proficiency with financial software, and strong analytical and organizational skills.

2. Junior Portfolio Manager / Analyst

• Progression: After gaining experience and demonstrating competence in supporting roles, a Portfolio Management Assistant can move into a Junior Portfolio Manager or Analyst position.

• Responsibilities: In these roles, the focus shifts towards more analytical tasks such as conducting market research, evaluating investment opportunities, and contributing to investment strategy discussions.

• Skills Developed: Advanced analytical skills, deeper understanding of market research methodologies, and the ability to evaluate investments critically.

3. Portfolio Manager

• Progression: With further experience and a proven track record, individuals can advance to become Portfolio Managers.

• Responsibilities: Portfolio Managers are responsible for making investment decisions, managing client portfolios, developing investment strategies, and ensuring that investment objectives are met.

• Skills Developed: Investment strategy formulation, client relationship management, decision-making under uncertainty, and comprehensive knowledge of financial instruments and markets.

4. Senior Portfolio Manager

• Progression: Experienced Portfolio Managers may advance to Senior Portfolio Manager positions, where they oversee larger or more complex portfolios and may lead teams of analysts and junior managers.

• Responsibilities: In addition to the core responsibilities of a Portfolio Manager, Senior Portfolio Managers play a key role in setting the investment direction of the firm, mentoring junior staff, and contributing to high-level strategic decisions.

• Skills Developed: Leadership, strategic planning, advanced risk management, and a high level of expertise in specific asset classes or investment strategies.

Specialization Opportunities:

• Asset Class Specialization: Focusing on a specific asset class, such as equities, fixed income, real estate, or alternatives.

• Sector Specialization: Developing expertise in a particular sector, such as technology, healthcare, or energy.

• Geographic Specialization: Focusing on investments in specific geographic regions.

Certifications and Education:

• Bachelor’s Degree: Typically in finance, economics, business, or a related field.

• Master of Business Administration (MBA) or Master’s in Finance: An advanced degree can facilitate career progression.

• Certifications: Earning professional certifications such as the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) can enhance credibility and career prospects.

Considerations:

• Continuous Learning: The financial markets are constantly evolving, requiring portfolio managers to stay informed about global economic conditions, market trends, and new investment products.

• Networking and Relationships: Building a network within the industry can open up opportunities for advancement and collaboration.

• Performance Pressure: Success in portfolio management is often measured by the performance of the investments managed, which can lead to significant performance pressure.

Conclusion

I know that this was a lot of information to take in for people who are new to the finance industry. Each of these positions can serve as a gateway to more advanced roles within the finance sector, offering valuable experience and the opportunity to develop specialized skills. Your choice should align with your career goals, interests, and the specific skills you wish to develop. Along with this, it is very common for people in the industry and in many other industries to switch career paths at many different points in their lives. Just because you start in investment banking doesn’t mean that you need to stay on that career path. Do what is best for you at the time that it is best for you to do it. Furthermore, there are many other jobs in the finance industry that may be better suited for you and your needs. Just because they are not on this list does not mean that they are bad jobs.