Graduates of finance, business administration, and accounting programs at universities throughout the UK and Europe often need to make a decision after their university days. These young professionals have a solid grounding in the academic side of finances and banking but lack the experience to jump into management positions immediately. As such, graduates often need to consider positions which will give the maximum amount of exposure to all of the nuances of the financial world. One of the best positions for graduates looking for broad financial experience is in financial planning.
Financial planning covers a variety of services to individual and corporate clients, including retirement planning, investment options, and basic banking accounts. Graduates who want extensive experience in dealing with the public should apply for financial planning positions at local or national banks. Successful applicants are put through an extensive financial training program devoted toward learning a specific companys financial planning processes. After the training program is completed, financial planners are then given a combination of professional development courses and practical experience. Once planners are up to speed, they often take on a certain account load that mixes personal finances, small business planning, and corporate accounts. The average day can consist of meeting concerned clients, learning about new bank offerings, and filling out important paperwork for a clients retirement savings account.
The advantages of working as a financial planner are plentiful for new graduates. Financial planning is often the first step toward advancement to bank management and larger planning positions. As well, successful financial planners can move from smaller banks to larger international banks, using their experience as leverage for better pay and bigger responsibilities. Financial planners often start at salaries nearing the 27,000 pound mark annually, which are better than salaries for bank clerks or files managers. Finally, exceptional financial planners typically receive bonuses based on their performance and customer satisfaction surveys.
The financial planning market is always steady, with banks and financial planning firms offering plenty of jobs to new graduates. However, the standards for these positions and the commitment required by applicants to a long term training program can cause applicants to turn to other positions. Financial planning positions require a combination of interpersonal, business, and communications skills that graduates may not possess right out of university. Graduates who are looking for a long term career and consistent professional development should consider investing their time into financial planning positions.