In early May, my father and I had this conversation over dinner.
"I don't know what I'm going to do now that I have graduated," I said.
"Well, what are your friends doing?" asked my father.
"Ah, you know, they're all working at banks, wearing suits. I don't know, it just doesn't seem fair. I mean, I wouldn't want to do what they're doing for the rest of my life, but it seems that those that are interested in commerce can expect steady jobs and good salaries while those interested in history or English can expect nothing."
Boy, was I wallowing.
"I mean, there are no jobs specifically for students like myself, unless there is some sort of history firm I haven't heard about." My voice began to whine, building to a fever pitch. "While my friends were crunching numbers, I was slaving over the trials and tribulations of three centuries of American history and it seems that I'm being punished for my efforts."
Well, it's now September and I am getting paid to vent my frustrations in jobpostings. My first assignment was to research the financial services sector of the economy - you know, like banks, insurance companies and so on. Still stinging from my unfortunate conversation in May, I set out to attack the subject with an acid pen. It did not take too long, however, to discover that my preconceived notions were completely fallacious. I was amazed to discover that, in fact, it is not just commerce students who have access to good jobs.
My problem was that I assumed that there was no room for people like myself in the financial services sector of the economy. But I was wrong. Upon talking to Carol Routhier, a recruitment strategies advisor for RBC, I discovered that commerce graduates do not have a monopoly on the financial job market. In fact, RBC's new recruits for next summer will be undergraduates drawn from a variety of different backgrounds. In the Information and Technology division those with degrees in math and computer science will constitute the majority of those hired. Carol also informed me that in the Personal Financial Service Department, any student, even a history major like myself, is "eligible so long as they complete their mutual funds and securities course." In order to be an Action Direct Investment Representative, again, one only has to do their securities course.
If you are a fourth-year student your horizons are not limited by a lack of experience or formal financial education. BMO, for example, allows any type of student to enter the Career Possibilities Partnership program. This program involves a sixteen-week internship in which recruits will be trained to fill the responsibilities of a financial services manager. Basically, a financial services manager is responsible for managing a portfolio of the bank's clients. Sounds like a daunting task. But it is not reserved for commerce students. All BMO asks of its applicants is that they are in good academic standing, express an interest in the financial services industry, are proficient at interpersonal and communication skills, and are committed to continuous learning. The implication here? It is not the degree that counts but the attitude one carries.
The same holds true for Gary Reaney of Edward Jones Investment Advisors. When asked if it was only commerce students who found employment at his company, he chuckled and said, "I was a biology major." Interestingly, Reaney is now head of all Canadian operations and has been serving in this capacity for the last five years. Reaney is constantly on the lookout for hard-working students. He is concerned with more than just a person's knowledge of business. His goal is to find students who have demonstrated a desire to succeed at whatever they do.
Believe it or not, insurance companies are also fertile grounds for student employment possibilities. Ross McMaster, vice-president of human resources at Axa Insurance, one of the world's largest insurance companies, admits that the insurance industry "may not look sexy from the outside", but he encourages students to investigate further. McMaster informed me that there are many opportunities to be seized which involve a variety of different skills. He also said that although the insurance business continually ebbs and flows and is not growing in "leaps and bounds", there are many exciting international opportunities. As a result of the globalization of the economy, the insurance industry is consolidating and there are now fewer players as the big companies swallow the small. Consequently, those able to work for the large companies are exposed to the business not just in Canada but throughout the world. Axa Canada will add a couple of hundred new employees to their roster next year, many of whom will be students.
McMaster's words definitely resonate with Sandra Grant who hires actuarial science graduates for the insurance company London Life. Sandra emphasizes that she does not look solely for a solid academic standing when recruiting graduates - strong interpersonal and leadership skills are also a must. "The old days of actuaries sitting in back rooms with their calculators are gone," says Grant. "Today we look for students who demonstrate excellent communication skills and a strong initiative."
Heather Rose, of Direct Protect, is also out recruiting students with various academic backgrounds. She feels that it is the personal skills that count most and that is what she is looking for in new recruits.
So take heed! The financial services industry is open to all students, regardless of academic interests. Whether you are looking for a summer job or full-time employment upon graduation, your local bank or insurance company might have a position for you. jp