Thousands of A-level students received their results last week. Some will be heading off for university, while others will be trying to get their feet on the career ladder through an apprenticeship or an entry-level job.
There is a wealth of opportunity in the financial advice sector for school leavers – but it can take time to find the right role. So, how can new entrants cope with the challenges of looking for their first break?
Managing rejection
It is not unusual for new entrants to send off hundreds of applications before being successful. They may get no response. They may reach the interview stage but not get the job. These things may seem personal, but they are not.
“Rejection, especially early in your career, can feel incredibly personal, but it is not a reflection of your worth or potential,” says CommsRebel founder Advita Patel, a certified confidence and leadership coach.
Set a realistic pace: two tailored applications a day beat 10 generic ones
“It’s not easy to deal with, but confidence is like a muscle: the more you work it, the stronger it becomes.”
Emotionally, it is about managing your thoughts, says Patel.
“Replace thoughts like, ‘I wasn’t good enough,’ with, ‘It wasn’t right this time, but the right opportunity is out there.’
“And celebrate small wins, whether that is a well-written cover letter or a positive exchange with a recruiter. Remember that rejection is often a redirection to something better,” she adds.
Victoria McLean, founder and chief executive of career consultancy City CV, thinks it is important to separate your identity from your performance when looking for that first job. Keep job-searching hours fixed, take breaks and do something else in between, such as sport or volunteering.
[Speak to recruiters.] They tend to be frank about what catches an employer’s attention and what holds an application back
“You are not your last interview. Keep your week diversified: applications, networking, learning and life,” says McLean. “It is easy to assume you are doing something wrong, but it is often just that the approach needs refining.”
Tailored and targeted
Sending dozens of applications with little or no response is a signal to pause and recalibrate, adds McLean.
“In my experience, early-career candidates often aim broadly and describe themselves broadly because they think it will increase their chances,” she says.
“In reality, it makes your CV and other supporting documents like cover letters or LinkedIn profiles feel too generic and unfocused to a busy hiring manager.”
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McLean suggests switching from mass applying to a tighter target list of about 25 to 40 firms over a two-week period.
“Tailor each application to the role’s specific language – laid out in the job description – and the realities of advice firms: a regulated environment, client service, accuracy, learning agility, and so on,” she says. “Set a realistic pace: two tailored applications a day beat 10 generic ones.”
If that shift in approach produces interviews, you have identified the issue, adds McLean.
When you tighten the aim, strengthen the evidence and widen your access to people, the market usually responds
“If it doesn’t, the problem is likely in your positioning – your CV or LinkedIn profile, the evidence, proof you can do the work – or that you’re applying cold without referrals. The silver lining is that those are all solvable.”
Connecting with someone already working in the profession, whether in advice, paraplanning, operations or compliance, can help here. McLean points out that these people can offer practical insight into the day-to-day reality of the role, and guidance on how to stand out.
“Those relationships can be built through alumni networks, regional Personal Finance Society events, or even young professionals’ groups run by organisations like the Chartered Institute for Securities & Investment,” she says.
Rejection as a springboard
Reaching out to people who work at the companies you are applying to and asking for 10 minutes of their time, just to gain some insight into the profession, can help turn those cold applications into warm introductions that may lead to interviews.
It is easy to assume you are doing something wrong, but it is often just that the approach needs refining
It can also be useful to speak with hiring managers or recruiters who regularly place trainees, adds McLean.
“They tend to be frank about what catches an employer’s attention and what holds an application back,” she says.
If you reach the interview stage but do not get the job, McLean suggests writing down what worked and what needs improvement.
“Then pick one change before the next conversation. For instance, you could tighten your, ‘Why advice/Why this firm?’ answer,” she says.
Remember that rejection is often a redirection to something better
“When you use rejection as a springboard, and make a targeted change based on that, you automatically get better and feel better, and everything will line up in your favour.”
A slow start is not an assessment of someone’s potential.
“When you tighten the aim, strengthen the evidence and widen your access to people, the market usually responds,” says McLean. “I see it week after week.”
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For more practical information on how to get started in financial advice, please visit our Future Financial Adviser community. We tell you how to take the first steps, how to get ahead and what attributes you need to flourish. Even better, we can put you in touch with helpful contacts.
