Finance trainee jobs are typically filled by people who have completed undergraduate or postgraduate degrees in finance, economics or a related topic. Investment firms and other corporations employ individuals in finance trainee jobs that include brokers, analysts, financial accountants and underwriting roles. Trainees normally receive on-the-job training for a certain period of time after which they are able to work without the direct supervision of a manager or senior employee.
Investment firms including mutual funds often employ graduates as trainee brokers or traders that normally assist seasoned investment brokers. Trainees accept orders from clients and complete the paperwork for securities transactions. In most countries, they must also pass a securities licensing examination before accepting such a position although at times, they may be required to undergo further securities training before they can transition into broker or trader jobs. Trainees, like brokers, are often paid commissions although some investment companies offer base salaries to those who conduct transactions on behalf of the firm itself rather than its investment clients.
Banks and financial companies often recruit college graduates to work as trainee analysts. People employed in these roles are tasked with analyzing financial reports detailing the activities of a specific company or an entire sector of the economy. Normally, they work alongside experienced analysts; the analyst is responsible for teaching the trainees how to interpret financial information and how to use historic data to make reliable predictions about future events. On-the-job instruction may last for months or even years before senior analysts give their consent for people employed in finance trainee jobs to transition into full-time analyst roles.
Some students who graduate college with accounting degrees, and many experienced accounting professionals end up working for banks or investment firms as financial accountants. These individuals are responsible for conducting audits on finance companies and auditing certain types of financial transactions. In many countries, they must pass accounting examinations before they can complete the training process. Additionally, some accounting firms employ financial accountant trainees who are responsible for completing contract work on behalf of investment clients. While working for external clients, they typically work alongside experienced accountants.
Lending companies and investment firms employ college graduates as underwriters. People employed in these finance trainee jobs are responsible for calculating levels of risk that particular transactions expose lenders and investors to. Typically, they report to a senior underwriter or risk manager who is ultimately responsible for approving or denying requests for credit or securities transactions. In some countries, they have to obtain licenses to deal in securities or loans although in other places trainees simply have to undergo extensive on-the-job training.