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Amanda Searle/BBC/Bad Wolf Productions/HBO
Do you know what working in finance is really like? Can you have fun at a challenging job, or are you living for the weekend? Can you have a positive impact or are you just a small step away from losing your integrity? Here are five common myths about working in financial services, debunked.
#1 Financial services is boring
Far from it. In fact, due to constant changes and extremely strict regulatory requirements, the financial services industry is a sector that is continually evolving. This means that jobs are changing all the time too, because there is also a constant need for technological innovation.
How are we going to use (or protect ourselves against) quantum computers? Is blockchain still the future, or do we need better security measures? How can we improve usability of digital payments while keeping our money safe? How do we deal with digital currencies?
Finance professionals all over the world are tackling these and other challenges on a daily basis. Think of the impact you could have on the daily life of millions of people with a job like this.
#2 Banks only goal is making the rich richer
Financial institutions do wield significant power, but their impact extends beyond just generating wealth. They can also protect the world from money falling into the wrong hands or being used for immoral purposes. That’s why there are such strict anti-money laundering and KYC (know your customer) policies.
Beyond the regulatory realm, financial institutions can also make a big impact on purpose. Take the role of SWIFT, the international network for bank transfers. After Russia invaded Ukraine in 2022, it cut off major Russian banks from its system. In doing so, SWIFT made it almost impossible for Russia to operate globally, demonstrating the power of the industry to enforce economic sanctions and drive geopolitical change.
The financial industry has the power to drive geopolitical change.
#3 Finance is dominated by old men in suits
While the finance industry has traditionally been led by men, this is changing now. Many financial institutions are actively recruiting younger employees and promoting diversity in leadership. The days of mandatory suits are also over—though a certain level of professionalism remains required, modern workplaces value comfort and individuality over formality.
Many financial institutions are actively recruiting younger employees and promoting diversity in leadership.
Did you know that Projective Talent and ING are partnering on a development programme to put high potentials on the fast track to leadership? The goal here is not only to rejuvenate upper management, but also to get more women in top positions.
As our Belgian DEI lead Rea Bakiasi rightly pointed out during a Fin & Tonic event on women in finance: “We have to realise that female leadership isn’t going to fall from the sky. The leaders of tomorrow are the young potentials of today. We have to give equal opportunities to women so they can get to those top positions, too. It’s the company’s responsibility to make sure that the women they hired because of their potential make it in the end, through mentorship and guidance. I’m very proud because that’s something we do well at Projective Group.”
It’s the company’s responsibility to make sure that the women they hired because of their potential make it in the end, through mentorship and guidance.
#4 Banks don’t care about CSR
Of course—sustainability and social responsibility are high on the agenda for many financial institutions. BNP Paribas Fortis, for instance, has been carbon neutral since 2017 and unveiled a new headquarters that’s a model of sustainability, with 98% of the materials from the old office being recycled.
At Projective Group, we all strongly believe that sustainable and ethical business practices and positive social impact are essential to the long-term success and viability of Projective Group, as well as the wellbeing of the communities we are part of. Our Sustainable Business Committee meets regularly with a clear mandate to continuously improve our ESG performance.
We are also a signatory to the UN Global Compact and have committed to achieving net-zero carbon emissions by 2040, a decade ahead of the Paris Agreement targets.
#5 You need a degree in economics to work in finance
Not at all: there are many types of jobs available in the financial services industry. In fact, the financial sector is one of the largest employers of IT professionals. At a large bank, there are easily a thousand people working in the IT department, in various technical roles.
However, technical skills are not the only path into the industry. Our approach to recruitment prioritizes hiring for attitude and cultural fit, with the understanding that skills can be taught on the job. We look for a job that will work for you, so you can grow into the best version of yourself in an environment that supports and challenges you.
We look for a job that will work for you, so you can grow into the best version of yourself in an environment that supports and challenges you.
At Projective Talent, we help connect talent with companies where they can thrive. Curious about how we can help you find your perfect match? We’d love to meet you!
About Projective Talent
As part of Projective Group, Projective Talent connects ambitious professionals with leading financial services companies, opening doors to career-defining opportunities. Whether through traineeships that transition into long-term roles with our clients, or missions that offer flexible assignments, we ensure the right fit for both candidates and businesses.
With access to A+ clients, expert coaching, and a strong professional network, we help talent and companies grow together - fuelling careers, innovation, and long-term success.