Finance

In this handbook, you will find information about the financial sector and the different career options you can pursue within it. I will help you identify your most suited career path, help you become the ideal candidate and provide you with the different resources that are available for you to increase your chances of landing an offer. If after reading this document you need further support, don't hesitate to contact me at javier.tordable@ie.edu.

Please watch this video for a quick overview of the Financial Sector! Still interested? Keep reading!!

What is Finance?

Subsectors of the Finance Industry

Your Turn: Plan Your Application Journey

Finance Subsector-Specific Content

Other Things to Consider (Lifestyle, Industry Specifics, etc.)

What is finance?

The financial services industry is very wide, offering a variety of paths that match different skills and interests. Researching the different niches in financial services will help you to land the job that is most compatible with your strengths and skills.

Careers in finance are often a popular choice as they can offer a fast- paced, intellectually challenging and high paying position shortly after completing your degree. The different opportunities for working within the finance field are vast, with a multitude of specialties to choose from.

Most jobs in finance fall within the following 2 areas:

  • Financial services firms (Investment Banking, Corporate Banking, Investment Management, Fintech, Big 4…)
  • Financial department of any company (Corporate Finance)

Read on to learn more about each of these areas...

 

Financial services firms

According to the Unofficial Guide to Banking, Financial Services firms (Investment Banking, Corporate Banking, Investment Management, Fintech, Big 4) "provide services for people or organizations who want to borrow, lend and invest money. They are huge, complex organizations that play a part in the lives of people in every corner of the world, with clients ranging from individuals to businesses, and even the governments and central banks of entire countries.

Banks work with vast amounts of money, every single day. But it’s a common misconception that you need to be a financial prodigy to work at one: just as important are regulatory experts, who make sure that institutions comply with the law in every country where they do business. And there’s a broad range of other specialists, from HR and finance to technology.”

 
 

Financial department of any company

Corporate Finance manages a company. It can be a bit tricky to differentiate it from investment banking because, depending on the context, investment banking might count as a type of corporate finance. Likewise, an investment banking firm might have a corporate finance division.

A Financial Department of a specific company usually manages matters related to acquiring funds, managing funds and planning the expenditure.“Larger organizations will have more specialized finance teams with many levels of management. In a smaller business, it may be the owner or a small team who have broader roles and greater responsibility. The best way to understand the responsibilities of an organization’s finance team is to split the roles and responsibilities into:

  1. Strategic financial management. "The finance planning team or financial strategy team looks at the overall picture to assess organizational health and to plan short and long-term goals.Financial planning teams will also use current records and reports to predict the growth and future trends of the company. The strategic finance team creates forecasts and plans to ensure growth, manages and mitigates risk,looks at ways to increase capital, manages budgets and financing options, and liaises with investors.” (source)
  2. Accounting and reporting. "The accounting team is the foundation of a finance department. It manages the preparation of balance sheets,financial statements, cash-flow reports, day-to-day record keeping and reporting, including all payroll, accounts payable and receivable. It also manages and conducts all internal audits and controls, and tax and reporting functions. It makes sure that the organization is in line with regulations and is in good financial health" (source).

 
 

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Industry Description: The Subsectors of the Finance Industry

Investment Banking

"What is investment banking? Is it investing? Is it banking? Investment banking is the term used to describe the business of raising capital for companies and governments and advising them on financing and merger alternatives. Capital essentially means money. Companies need cash in order to grow and expand their businesses; investment banks sell securities (debt and equity) to investors (pension funds, mutual funds, hedge funds, asset managers) on the global market in order to raise this cash.“

Read Vault Guide on Investment Banking here

Global Markets (Sales & Trading)

"When people think of investment banking, they tend to imagine the trading floor. Although sales & trading is just one part of a bank’s work, it is where a lot of its commercial activity takes place. In simple terms, traders buy and sell products like equity (stocks) and debt (bonds) and commodities (like oil and natural gas) and execute foreign exchange deals that make an incremental profit.”

Read detailed guide on Sales & Trading here.

Asset Management

“In Asset Management, there’s one key objective: generating income for clients. This is done by directing a client’s capital into a range of investments, chosen carefully by balancing risk, opportunity, and other variables – from timeframes, to the other investments in a client’s portfolio. On behalf of their clients, an Asset Management team might invest in stocks, bonds, property or the foreign exchange to help a client meet their investment goals. These are just some examples of common investments.”

Read detailed Vault Guide on Asset Management here.

Wealth Management and Private Banking

Individuals with substantial wealth often have complex financial arrangements, and want to make sure that their asset portfolios are generating the best possible returns. They’ll work with a specialist advisor at a bank with in-depth knowledge of financial markets and investment opportunities who will understand their perspective and help them reach their goals.

Wealth managers work in a consultative way, getting advice from appropriate experts and offering appropriate products and solutions. Their services can be either discretionary or non-discretionary.

Read Wealth Management Guide here.

Private Equity

“In its broadest sense, private equity is an investment derived from a nonpublic entity, or private company. These investments differ from those in publicly traded companies that allow investors to purchase shares of stock. Private equity (PE) is much bigger; these investors don’t just invest in stock—they buy entire companies.”

Read Vault’s Private Equity Guide here.

Commercial/Retail Banking

“Retail provides products and services like loans, mortgages and current accounts to individuals and small companies. It’s the kind of banking we think we all know, but there’s much more to it than high-street branches and call centres. It’s a huge, complex and competitive business where customers want the latest digital technology without losing access to personal advice. Opportunities in retail range from front-line customer service and branch management to relationship management and product development. People with aptitude can progress quickly and will get the chance to study for professional qualifications.”

Read Corporate Finance Institute’s guide to Comm. Banking here.

Fintech

“The term fintech refers to the synergy between finance and technology, which is used to enhance business operations and delivery of financial services. Fintech can take the form of software, a service, or a business that provides technologically advanced ways to make financial processes more efficient by disrupting traditional methods.” (source)

Read Corporate Finance Institute’s intro to Fintech here.

Sustainability & Impact

"ESG Investing (also known as “socially responsible investing,” “impact investing,” and “sustainable investing”) refers to investing which prioritizes optimal environmental, social, and governance (ESG) factors or outcomes." Read these articles on ESG jobs in Finance and banking and what they entail: efinancial careers and corporate finance institute.

Please, take a look at the images below to further understand how these subsectors fall in place in the Financial Sector.

 

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YOUR turn: Select your finance subsectors

 

After having read the above, please select your preferred Finance subsectors (maximum three) from the eight options above by completing the following short survey:

  1. Do you have experience in Finance (yes/no)
  2. What finance subsector? (one-two options from the eight subsectors)
  3. What role? (open)
  4. What finance subsector are you interested in? (two options from the eight subsectors)
  5. What type of role? (open)
 

What COMPANY do you want to work for?

View list of renowned Finance Employers and list of Top Global Financial Services Companies

 
 

What to do now? Own the PROCESS:

  • Customize your CV to the Finance subsector you want to apply to.
  • If you don’t have any previous experience in Finance, take a look at available virtual experiences.
  • Create a List of 15 companies to apply to using the Application Tracker
  • Join a Finance Club. Click here to join the IE Connects Group.
  • Start Networking with IE Alumni and Professionals: use FirstHand or LinkedIn to connect with at least 2 alumni within the subsector you want to apply to. Follow the instructions bellow to access FirstHand:
    • https://ie.firsthand.co/
      • You can log in with your IE credentials.
      • Activate your account by setting up a profile.
      • Get matched with, or search freely for, advisors who can help you get to where you want to go.
      • Connect by video call, phone or chat.
  • Attend at least one of the Weekly Finance Sector Q&A with your Sector Advisor.

APPLY - Rigorously & Methodically

  • Create Job Alerts in the Career Portal, LinkedIn, Indeed & financial careers.
  • Apply to at least 40 roles customizing your CV and Cover Letter to the specific role– update Application Tracker and upload it to the Career Portal
  • Practice using JobTestPrep.
    • Access the link: JobTestPrep Sign Up
    • Accept the privacy terms and enter code: IEMADRID2026-1F477756
    • Register with your IE email XXX@ie.edu
    • JobTestPrep provides company-specific online test & assessment centre preparation practice. To find the right test you can search by Company, Test Provider, or Type of Test. * Important: Premium subscription for IE Students allows unlimited free access for 1 year starting from the first login 4.
  • Research companies reviews on:
  • Finance Interview Prep Guide – Vault (free access through IE)
  • Learn and Prepare for Assessment Centers here.
 

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Finance Subsector-Specific CONTENT

Investment Banking

Corporate Finance

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Asset Management

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Global Markets - Sales and Trading

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Private Equity & Debt

Venture Capital

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Fintech

Commercial Banking

ESG & Impact Investing

 

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Other Things to Consider (lifestyle, industry specifics...)

 

Finance is a very demanding sector and function, so students interested in pursuing a related career should really be passionate about the area, and understand what they are applying for, both in general terms and specifically. It is not really an option for those looking at this as an ‘option B’, especially if looking to target top firms.

It’s a very competitive sector, with very talented candidates, so having good grades and the required skills is not enough. The company will also be looking at motivation.

Junior profiles in this sector will be expected to work long-hours, and be ok with tight deadlines and working under pressure.

On the other hand, salaries are usually higher than in many other sectors and functions, and progression is usually more structured. People working in this sector will be in a fast- moving and intellectually stimulating environment.

In the section above, you’ll find guides for each subarea, specifying the details of each one.

We also recommend you reach out to alumni who are currently working in the banks of your interest. Try to secure informal informative meetings for insights and advice. And of course, attend company events, inside and outside IE, to get valuable insights.

 
 

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