This episode of From Education to Finance (E2F) features someone who has viewed the financial services talent market from two very different perspectives. Paul Schoonenberg, Head of Careers at SP Jain London School of Management, began his career in executive search, working with investment banks, corporate banks and asset managers to identify and attract senior talent before moving into higher education careers and employability roles.

That combination gives him a particularly valuable perspective on what it takes to build a career in financial services today. He understands how employers evaluate candidates, how recruitment processes have evolved, and where students often go wrong in their preparation.

During our conversation, one message emerged again and again: students often underestimate how early successful careers in financial services begin. By the time a graduate programme application is submitted, many of the strongest candidates have already spent years building relevant experiences, developing networks and understanding the sector. Opportunities remain available for motivated students, but success increasingly depends on understanding where those opportunities exist and how the recruitment process really works.

Financial Services Is Bigger Than Most Students Realise

One of the biggest misconceptions Paul encounters is that financial services consists of a small number of highly visible careers, typically investment banking, trading or mergers and acquisitions (M&A). In reality, those roles represent only a small part of a much broader industry.

"I think the challenge for young students now is their ability to understand the breadth of opportunities across the wider financial services sector."

Beyond the traditional career paths, students can explore opportunities in wealth management, asset management, fintech, risk, compliance, sustainable finance, technology, marketing and product management. As Paul explains, financial services needs a wide range of skills and backgrounds, with many of today's most exciting opportunities sitting at the intersection of finance, technology and customer experience. For students exploring their options, understanding this wider landscape can open far more doors than they might initially realise.

The Real Challenge Isn't Always a Lack of Jobs

While much has been written about a challenging graduate job market, Paul believes many students are overlooking opportunities simply because they don't fully understand how the sector works.

"I think what part of the issue is that there's a lack of awareness, there's a lack of access."

Many students simply don't understand how recruitment processes work, what employers are looking for, or the range of organisations hiring across the sector. While the largest investment banks attract most of the attention, opportunities also exist with asset managers, wealth managers, insurers, fintechs and a wide range of specialist financial firms. For Paul, students who understand the wider market and cast their net more broadly often give themselves a much greater chance of success.

Recruitment Starts Earlier Than You Think

Perhaps Paul's strongest message was that students need to start preparing for financial services careers much earlier than they might expect.

"The interview processes are getting more and more complex."

Financial institutions now use a combination of online assessments, psychometric profiling, video interviews and increasingly sophisticated recruitment technology.

"There’s a lot more use of AI in recruitment techniques."

As a result, graduate recruitment is no longer something to think about only in your final year.

"Preparation needs to be done earlier in the cycle."

Paul encourages students to strengthen their profile throughout university through internships, work placements, student societies, business challenges and other extracurricular activities. The candidates who stand out are often those who have actively explored the sector, developed commercial awareness and gathered evidence of their skills long before they begin applying for jobs.

Opening Doors to a Wider Range of Talent

One of the more encouraging themes from the conversation was Paul's belief that financial services is becoming more accessible than many students realise.

"I think there is, as you say, a perception that some of these careers are out of the reach of some students from certain backgrounds."

In reality, many financial institutions are actively broadening their talent pipelines and engaging with a wider range of schools, universities and communities. However, Paul is clear that greater access does not mean lower standards.

"Financial institutions, in particular the Tier 1 financial institutions, still want to get the best."

The opportunity to enter the sector may be wider than ever before, but competition remains intense. Regardless of background, students who take the time to gain practical experience, develop relevant skills and prepare thoroughly for applications give themselves the strongest chance of success.

There Is More Than One Route Into Financial Services

One particularly reassuring part of the discussion focused on students who do not follow a traditional path into the industry. Many graduates worry that skipping a financial services internship or missing out on a graduate programme means the door has permanently closed.

Paul's experience suggests otherwise.

"If you do miss out on those, don't give up. There are still plan Bs and other routes into those institutions."

Financial institutions increasingly value transferable skills from areas such as technology, legal services, operations and customer experience. Careers are rarely linear, and many professionals successfully transition into financial services after starting elsewhere. For Paul, what matters most is continuing to build valuable skills and experience rather than assuming there is only one path into the sector.

Communication Remains a Career Superpower

While technical knowledge remains important, Paul believes communication skills are often underestimated by students entering the industry.

"However technically fantastic you are, however mathematical you are, you're going to have to explain things very clearly."

Whether working with colleagues, clients or stakeholders, the ability to communicate effectively, listen carefully and collaborate with people from different backgrounds remains critical to long-term success. In an industry that increasingly operates across international markets and multidisciplinary teams, strong communication skills can be just as important as technical expertise. As Paul suggests, technical skills may help you get through the door, but communication skills often determine how far you progress.

Practical Advice for Students

When asked what advice he would give the next generation, Paul's recommendations were practical and refreshingly straightforward:

• First, explore the full breadth of opportunities available across financial services rather than focusing exclusively on a small number of highly visible roles.

• Second, speak to people already working in the industry. Understanding what a role actually involves is often more valuable than being attracted by a job title or company name alone.

• Third, build evidence of your interest and capability. Join societies, participate in competitions, work on projects, take part in business challenges and look for opportunities to demonstrate initiative.

• Fourth, continue developing your communication skills alongside your technical knowledge.

• Finally, stay resilient.

"Just because you get maybe one unsuccessful application doesn't mean that you're unsuitable for the sector."

Rejection is not necessarily a verdict on someone's potential. More often, it is part of a learning process. Seeking feedback, refining applications and remaining open to alternative routes can eventually lead to opportunities that might not have been visible initially.

Looking Beyond the Obvious

One of the most valuable aspects of Paul's perspective is that it combines the mindset of both a recruiter and an educator. His message is clear: financial services remains competitive, but it is also far broader and more accessible than many students realise.

New opportunities continue to emerge across areas such as fintech, technology, sustainability, risk, compliance and marketing, while employers are increasingly looking for talent from a wide range of backgrounds. For students considering their future, perhaps the key takeaway is that career preparation starts long before the first application is submitted. The more time students spend exploring the industry, developing skills and gaining practical experience, the more opportunities are likely to appear when the time comes to take that first step.

-

If you're currently exploring whether a career in financial services might be right for you, you can also download the free student guide, "Is Your Future in Financial Services?" The guide helps students understand the wide range of careers available across the sector, explore potential career paths, and gain practical insights into what employers are looking for when recruiting the next generation of talent.