How to break into finance with no experience: A step-by-step guide

You can get into finance with no experience by targeting entry-level and client-facing roles, building a network, and passing the FINRA SIE exam to prove your fundamentals.

Whether you’re a student exploring internship opportunities or someone considering a career change with no prior experience, finance stands out for its many entry points for people from diverse backgrounds and levels of experience.

Below are finance career options suitable for students, recent graduates, and individuals transitioning jobs at any stage of their careers. Developing a clear plan, approaching the industry with a balanced level of enthusiasm, and obtaining key qualifications, such as the SIE, can enhance your chances of landing competitive, well-paying roles.

Still a student? It’s never too early to start

College and master’s students have plenty of time to develop their portfolios before entering the job market. Here’s how you can start building your finance career early, even while you’re still in undergrad or graduate school:

• Apply for and finish internships in financial advising, insurance, banking, or similar fields.
• Select your courses carefully; even if you’re not enrolled in a finance degree, you can gain relevant experience through courses such as economics and statistics.
• Consider joining a student-managed investment fund to gain practical experience in portfolio management.
• Attend career fairs and student networking events.

Many firms host informational or recruiting events on college campuses, which are great opportunities for learning more about specific companies and roles. When applying for internships, approach it as you would for college: list reach, match, and safety internships based on your qualifications, location, and the company’s competitiveness.

Remember that internships and comparable experiences don’t have to be at elite companies to make a strong impression; dedicated experience at a small, local firm, accompanied by a strong recommendation, can be more valuable than a passive role at a well-known company like Morgan Stanley or Fidelity. Just be prepared to describe your role and the impact you had during your time to future employers.

What if I’m not a finance major?

Many students successfully transition from other fields to finance, whether they’re coming from a standard MBA curriculum or a completely different discipline, like sociology. If you’re early in your college or graduate career, make room for finance-related courses that teach you how to use quantitative models and other techniques in business and analytical applications. Seek out clubs or organizations that are related to finance, business, or entrepreneurship for additional experience.

Even if you have a strong background in math, finance has very specific terminology that’s crucial to learn before entering the field: this will help tremendously with developing professional knowledge and preparing for future licensing exams.

What finance jobs are available for those without a degree?

You can still pursue entry-level roles in finance and work your way up the ladder, even if you don’t have an associate’s or bachelor’s degree, though it may take more time to advance your career. There are no educational prerequisites to licensing, so you can still pursue the proper credentials that will eventually lead to a role in securities sales and financial advising.

If you’re just starting, you may want to look at client services, data entry, or insurance-related roles to gain exposure. Many firms are willing to help pay for education and additional training for their employees, so you can always discuss pursuing a degree with your manager if your company offers that support.

Recent graduate? Make your mark

Suppose you completed your finance college program with little or no professional experience, or your degree is in a different field. Here’s what you can do:

• Identify roles within financial firms that demand diverse skill sets, such as marketing or sales, and seek exposure to these areas.
• Conduct informational interviews with industry professionals to deepen your understanding of financial services.
• Get comfortable with financial analysis tools like Excel, programming software, and AI solutions.
• Consider enrolling in extra classes or self-paced courses focused on financial modeling and related subjects.

Even after graduating, your learning doesn’t stop: use this time to gather information from finance professionals to decide your next steps, and begin pursuing new opportunities.

Switching jobs? Hit the ground running

Many individuals transition from unrelated fields into finance. Here are some steps to facilitate a smoother switch:

• Save some money as a financial buffer between jobs.
• Assess your past experience to identify skills relevant to finance, such as client interaction, retail sales, or quantitative analysis from tech-related roles.
• Craft a strong narrative to attract future employers.
• Hold informational interviews and networking chats with professionals across roles, industries, and firms: they may be able to provide advice or even help your application materials move forward in a competitive hiring process.
• Check licensing and exam requirements for your desired roles, such as the FINRA SIE, Series 7, and firm sponsorship for financial advisors.

What you consider "no experience” might actually be relevant for your future career if you know how to present it. Remember, finance, particularly financial services, is a very people-oriented industry. You’ll be interacting with clients and colleagues regularly, so experience in direct customer engagement, like in retail, can be a strong advantage. Technical and quantitative expertise from fields such as computer science and engineering also suits analysis-focused finance roles. Critical thinking from social sciences can be readily applied in financial and business contexts, where communication and problem-solving are as crucial as your technical knowledge. Candidates from arts and humanities backgrounds offer unique insights and creativity, qualities that today's employers increasingly appreciate.

Note that some finance jobs, like those in accounting, may require significant investment in education, training, and licensing. Meanwhile, roles in wealth management often require employer sponsorship for full licensure, but may have an easier barrier to entry for those just starting in the industry.

How to get a job in finance as a new career

Switching to finance from a different career can be a significant step. The sector has its own terminology and structure, and skills from your previous industry might not directly apply. While this transition can pose challenges, it also offers strong opportunities for growth and higher compensation. A few tips before you dive in:

• Confirm the role aligns with your skills. Finance roles demand a solid understanding of core concepts like economics and accounting, so evaluate whether you already have, or can quickly build, that foundation.
• Strengthen your software skills. Beyond interpersonal and problem-solving abilities, most finance roles require proficiency with tools such as Excel and PowerPoint for building spreadsheets, financial statements, and reports.
• Emphasize transferable skills. Abilities gained from past jobs, such as sales or customer service, can be valuable in a career change, so highlight them and use self-study or courses to close any gaps.
• Expand your network. Connecting with financial experts, thought leaders, and industry insiders gives you insight into both the basics and the finer points of finance, and can increase your chances of landing a job.

Remember that transitioning to a finance career isn’t limited to corporate finance or financial services; you can also pursue roles in venture capital, private wealth management, fintech, investment management, and other areas. However, these positions tend to be more competitive and selective. Thankfully, stepping stones exist to help make the transition to this highly technical and regulated industry smoother.

The Securities Industry Essentials (SIE) exam: Your skeleton key

Ever found yourself saying, “I want a career in finance, but I don’t know how to begin?”

Many new college graduates or professionals aspiring to enter finance share this sentiment. If you’re considering a career such as wealth management or insurance sales, it may initially feel intimidating. Nonetheless, the industry is increasingly welcoming candidates from diverse backgrounds, even without a finance degree. Still, launching a finance career demands a compelling application that stands out amid the many applicants for available positions.

Passing the Securities Industry Essentials (SIE) exam, administered by the Financial Industry Regulatory Authority (FINRA), is an effective way to differentiate yourself. Earning your SIE before applying for entry-level finance positions demonstrates your grasp of fundamental finance principles, and employers view candidates who have passed it as ready to contribute immediately.

The SIE is the crucial first step for securing a job and earning additional FINRA securities licenses. Whether you’re aiming to be a financial advisor, private wealth associate, or trading representative, you typically need to pass the SIE. It establishes the fundamental knowledge required for a successful career in finance. Credentials such as the Series 7, which authorize the sale of various financial products, require passing the SIE to qualify. The SIE covers topics such as stocks, bonds, market dynamics, options, and securities regulations, all key areas every finance professional must master.

The role of the SIE

Whether you’re aiming for a flashy position on Wall Street, hoping to break into high-stakes financial advising, or seeking an entry-level role with growth potential, a successful career often begins with the SIE. It’s your first step into the finance industry, and it gives you important grounding for several roles.

Before starting this journey, you might wonder how challenging the SIE exam is for newcomers. First things first, here are the basic facts and format:

Unlike other gated financial licensing exams, the SIE can be taken by students, recent graduates, and professionals at any level, regardless of field. This enables people from diverse backgrounds to demonstrate their financial know-how and make a significant career switch.

How hard is the SIE if you’re new to finance?

While FINRA labels the SIE as "entry-level,” it doesn’t mean the exam is simple. The difficulty mainly hinges on your background and experience. Here’s a brief overview of what to expect as you begin preparing.

• What’s straightforward: The SIE is designed to be accessible, even for beginners. The roughly 74% pass rate suggests it’s not overly challenging. Memorizing essential information and maintaining a steady study routine can make the exam much less daunting than it initially seems.
• What’s challenging: The SIE spans a wide array of topics, including securities laws and capital markets structure. Entry-level financial professionals should be familiar with terms and concepts such as “options accounts” or “FINRA Rule 2111.” If these are unfamiliar to you, it’s time to hit the books.

Some questions increase in difficulty by requiring you to apply concepts to real-world scenarios, such as choosing the best investment for a fictional client. These are designed to evaluate the practical application of financial knowledge, rather than simple memorization.

How long do I need to study?

Consider your background when estimating your preparation time for the SIE. Absolute beginners usually require about 50 hours of focused study, or roughly 6-7 hours a week over eight weeks. If you’re unfamiliar with financial jargon, prepare for a longer study period. If you have prior exposure, around 25 hours might be enough, highlighting how the SIE’s difficulty varies greatly based on your prior knowledge.

The primary challenge, especially for less experienced candidates, is handling the vast amount of new material. Success on the SIE largely depends on your ability to learn and process new concepts, regulations, and industry standards. Treat your SIE preparation as a mental marathon, giving yourself adequate time and space to absorb this comprehensive new knowledge.

Tips to pass the SIE (even if you’re new to finance)

Approach the SIE with these tested techniques that turn your prep into a strategic success rather than a stressful challenge.

Begin preparations early and set a realistic pace: aim to dedicate four to eight weeks to comprehensive SIE exam prep (if you’re wondering about the study timeframe). Break your study time into manageable one- to two-hour sessions and establish a routine that promotes consistent progress while avoiding burnout. Focus on understanding core concepts rather than every minor detail. Grasping the reasons behind key topics reinforces your memory.

Using detailed SIE study resources makes these concepts easier to learn. For example, taking full-length practice tests under real exam conditions acclimates you to the SIE’s format and question types, highlighting areas for improvement. Be sure to learn core securities industry terminology, as building a strong “SIE vocabulary” is crucial. Use flashcards or quizzes to master terms like “prospectus,” “yield to maturity,” and other lingo, helping you turn complex jargon into a clearer understanding. Stay calm and confident on exam day by applying your study strategies and preparing for the test environment. Carefully read each question, use elimination techniques, and trust your preparation to improve your chances of success.

What happens after you pass?

Consider passing the SIE at Level One; it demonstrates your dedication to the securities industry to employers. However, you’ll need a “Top-Off” exam, such as Series 6 or Series 7, to become fully qualified and registered with a FINRA member firm. The good news? Your SIE results remain valid for four years, giving you ample time and flexibility to plan your next career moves. Note that regulatory exams like the Series 63, 65, and 66 do not require firm sponsorship and can also be taken before being hired, further enhancing your profile.

Start by including the SIE on your resume. This shows hiring managers that you’ve mastered the basics and are ready for more advanced licensing exams. Proper preparation not only increases your chances of passing the SIE but also builds a solid foundation for ongoing success in the finance industry.

Finance jobs for those new to the field

Here’s a list of common finance roles where passing the SIE exam can give you an edge, helping you identify which careers require or favor it. These include entry-level finance jobs that you can apply to with little to no experience:

• Financial advisor
• Private wealth associate
• Client relationship associate
• Research associate
• Trading representative
• Financial services consultant
• Equity research associate
• Social media compliance analyst
• Relationship banker
• Investment banking analyst

Remember that although some roles might not list the SIE as formally required or preferred, having your SIE license or completion certificate demonstrates motivation and commitment, qualities highly regarded in finance recruitment. Employers value candidates with a FINRA SIE license because:

• It saves valuable time and lowers initial training expenses. During onboarding, new hires often spend a few weeks preparing for the SIE. If you obtain your SIE beforehand, employers can begin working with you immediately instead of waiting for you to earn the credential.
• It signals you’re prepared to take on additional FINRA licensing exams needed for higher-level positions. Each year, many new hires in the financial industry are let go for failing to pass FINRA exams. While the SIE does not make someone FINRA-registered, it helps set the stage for future registration with a member firm, broker-dealer, or SRO.

Showing that you can pass the SIE beforehand boosts an employer’s confidence in your ability to meet future licensing obligations.

When is the best time to apply for jobs in finance?

The best time to apply for finance jobs is before the Q1 hiring spree. Q1 refers to “quarter one,” the first financial quarter of the year (typically January to March at most companies). This is when companies lift hiring freezes, reassess budgets and priorities, and open new positions. Here’s a rough timeline:

• July-August: Begin preparing your resume, cover letters, and other materials ahead of the hiring season.
• September-December: New positions open up for the next year. Finance hiring processes can take notoriously long, so be ready for multiple rounds of interviews, take-home exercises, and more.
• November-January: Applications are given more serious consideration, though there may be a slowdown near the holidays.
• January-February: Final hiring decisions are made.
• February-March: Firms wrap up their new year hiring cycle.

If you don’t receive an offer during this window, it’s not the end of the world: applying ahead of or during the first quarter can be a strategic advantage, but companies regularly hire throughout the year. For example, a second “boom” in hiring usually occurs in early summer, when interns and new graduates enter the market. Be aware that for competitive positions, students may begin applying to finance roles as early as the year before, following a timeline similar to the one described above. Keep an eye on company job postings and continue networking: your next opportunity could be waiting for you.

Conclusion: Take the next step in your career

From students to career switchers, many professionals are drawn to finance for its fast-paced, lucrative, and versatile career paths. While it may take hours of training, test prep, and client interaction to get there, demonstrated expertise in the field often leads to a stable, secure career. Financial exams are a huge part of entering the field and advancing, so if you’re in the market for a new role or want to learn more about securities generally, taking the SIE may be a move in the right direction.