Staying ahead in financial services
The financial services industry is complex and ever-changing, as we have recently experienced.
There are a number of strategies that you can use to meet the challenges of staying ahead in both good times and bad, and enhance your career at the same time.
Postgraduate study
Postgraduate study can further develop your skills and boost employment prospects and income. There are a variety of specialist finance programs that could enhance your career development.
Examples of financial services related postgraduate courses include:
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Master of Banking and Finance Regulations
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Master of Applied Finance
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Master of Banking and Finance Law
The Master of Business Administration (MBA) is increasingly regarded as a core qualification for those aiming at an executive position. Many Australian institutions offer MBAs with an international perspective. There are a number of institutions that rate MBA courses and can help you choose the one that’s right for you.
Helpful postgraduate study websites
Gradlink: Graduate Careers Council of Australia
graduatecareers.com.au provides information on the issues involved in postgraduate study, a course search engine so you can see what’s on offer in Australian universities and details about career prospects.
Postgraduate Education Loan Scheme (PELS)
PELS is a loan facility for eligible students who are enrolled in fee-paying, postgraduate non-research courses. It is similar to the deferred payment arrangements available under the Higher Education Contribution Scheme (HECS). More information is available at www.goingtouni.gov.au
The Keogh Lab
www.anu.edu.au/BoZo/Scott/Studentresources.html provides resources and advice for postgraduate students.
Employer training and development
Many financial services organisations offer in-house training to aid the ongoing professional development of their staff. Courses may focus on technical skills or soft skills such as people management and negotiation. Your organisation’s Training and Development or Human Resources department will have more information.
Employer-supported study assistance
A number of organisations provide assistance with tuition and HECS costs, registration fees and paid study leave - especially if the study relates to the financial services industry and the individual’s role.
Professional and industry associations
Professional Associations such as Finsia offer a range of professional development events, including company presentations, seminars, industry conferences and other networking functions. These events typically feature prominent speakers presenting views on topical issues. Benefits include networking opportunities as well as the opportunities to enhance your skills, knowledge and industry awareness.
Finsia also runs a number of special interest groups, including the Financial Advising Special Interest Group, Young Finance Professionals and Women in Finsia forums.
You can list any relevant professional association memberships on your resume, and some employers will assist with your membership fees.
Financial services publications
There are a number of magazines and journals focused on banking and finance. JASSA and inFinance are two regular publications that are a benefit of Finsia membership, or can be purchased by separate subscription.
inFinance is published five times a year and provides readers with information and analysis on issues in financial services.
JASSA is a leading technical journal for financial services professionals and academics. It provides access to peer-reviewed financial sector research and technical analysis.
Finsia also offers a range of other free member information resources, including Finsia Daily Finance News, Policy News, our financial advising newsletter, and Finsia Boardroom Radio.
Career networking
Networking events run by professional associations such as Finsia provide valuable opportunities to learn from your peers and keep up to date on industry issues. A detailed overview of career networking can be reviewed here.