According to the Bureau of Labor Statistics, financial occupations will add over 960,000 job openings annually from 2023 to 2033. This is above the average growth for other occupations in the United States, demonstrating that the financial sector offers many opportunities for aspiring professionals.
As the Managing Director and Head of the Asset Management and Financial Principals Coverage Team for J.P. Morgan Private Bank, Justin Nelson manages a 20-person team overseeing more than $15 billion in assets. “We do a lot at work with clients on private equity, venture capital, real estate, and hedge funds,” Nelson says. He also does his best to give back, offering hands-on mentorship to young people interested in finance.
Nelson agrees with the BLS: growth is inevitable in financial services. However, established professionals in the field need to do more outreach to connect with college students and show them exactly what a career in finance is all about. Justin Nelson offers actionable tips for college students and young professionals interested in financial services.
Expand Your Educational Horizons
Justin Nelson isn’t your typical financial professional. He intended to enter medicine, earning his B.S. in Chemistry and Economics from Tufts University. Nelson lucked out and scored an internship with J.P. Morgan after graduation, which opened the door to his career in finance. “I had a bunch of friends who were going into finance, and they helped me think through the process, like how to get a job, how to get an internship,” he says.
However, he credits his success to his multidisciplinary education. Having broad knowledge of non-finance topics makes it possible to synthesize information and look at situations differently than many financial professionals are trained to do. While there’s nothing wrong with traditional training, Nelson feels that unconventional backgrounds support out-of-the-box thinking that firms must cultivate to stay competitive. If you have a passion for finance and an eye for numbers, high-quality employers will see your potential, despite not having a traditional educational background in finance.
Focus On Boosting Your Skills Before Promoting
More young professionals are going into private equity and capital firms instead of traditional banks. “They’re hiring a lot of the people that we would hire, and private equity, from a talent perspective,” Justin Nelson explains. Other graduates fall for the allure of startups, which promise high salaries, quirky perks, and rapid paths to promotion. “I think that what was so attractive for startups and things like that was that people thought they could get to where they want to get to in a year or two,” he says.
However, Nelson cautions young professionals to cover their bases first. There’s nothing wrong with private equity or startups, but these environments don’t always set new professionals up for success. It’s best to first gain experience, bolster your skills, and then see what the industry offers. “A lot of people will start at a bank to get some core skills, maybe go to business school, and then go to a firm,” Justin Nelson explains.
Look for a Mentor
Young financial professionals understand technology and are often more open to new ideas than seasoned veterans. Both parties have something to learn from each other, which is why Justin Nelson recommends every aspiring financial professional seek out a mentor. For example, Nelson visits his alma mater, Tufts University, weekly to speak with students about careers in finance.
Whether you meet weekly, monthly, or quarterly, having a mentor is a great way to understand the career options in finance. Mentors also offer coaching on soft skills, which are crucial to fitting in at the workplace and advocating for yourself during salary negotiations. Many established professionals are happy to take on a mentee as a way to give back; all you have to do is ask for their guidance.
Build Your Network
Ask any finance professional how they got their job, and they’ll likely tell you it was through a referral or connection. More often than not, who you know will determine your career prospects, not applying to job boards. Start building your network now; you never know where the right connection will take you.
Networking events are a good place to start, although social activities like university clubs or sports are great, too. In Justin Nelson’s case, he enjoys networking through volunteering. He’s an active board member of the Breast Cancer Alliance, where he’s served as treasurer and fundraiser. Put yourself in more situations where you can connect with others to boost your network as you mature in your career.
Charting Your Financial Future with Justin Nelson’s Wisdom
As Justin Nelson’s journey shows, there’s no blueprint for success. Passion, networking, and mentorships are often more helpful in boosting career prospects than a degree alone. For those entering the field, Nelson’s insights are a reminder that success in finance is about more than technical skills — it’s about being adaptable, seeking guidance, and finding ways to give back. By embracing these principles, young professionals can position themselves for long-term success in the evolving world of finance.
