A guide to a career in asset finance

A career in the asset finance industry is an opportunity to write your own pay cheque while also helping small businesses grow and thrive. Here, Elisabeth Stewart, operations executive at Portman Asset Finance offers her advice for those aspiring to get involved.

For business and economics graduates, some of the most popular career choices include working in London’s financial district, for a bank or building society. One profession you may not have considered, or even heard of, is asset finance – a method for businesses to secure funds to pay for machinery, equipment and other ‘assets’ in installments over time. As well as helping small companies get off the ground, or achieve further growth, the sector has plenty of opportunities for progression, competitive salaries and bonuses.

A suitable fit

Completing a degree while working part time demonstrates a solid work ethic that is needed in the industry – it also gives your application a big tick before you even attend any interview.

An interviewer might look for candidates who have studied a finance-related subject at university, as it shows they have a strong interest in the sector and a foundation of skills on which to build. But just because you have studied a different subject area doesn’t mean you can’t get into asset finance when you graduate. A degree in any subject shows you have the determination and analytical skills to succeed.

Many roles in the sector are sales led (and come with big rewards for securing deals), so it is important to explain how your degree has helped you develop strong communication skills. On top of that, you will need strong negotiation skills, be able to build relationships, know how to prioritise tasks, and be tenacious.

The experience needed

A degree isn’t the only thing that will help land your first role out of university, it’s the experience you gain alongside it too. Extra-curricular activities, such as working on a university newspaper or being part of a sports club, demonstrate your team work, leadership and time-management skills.

Don’t forget to highlight the experience you have built up in any part-time jobs you take, particularly if you work in a shop, café or call centre. Any customer-facing role will help you become more confident speaking to a range of customers, which is an essential part of our profession.

Apply for work experience at an asset finance firm where you can get a real flavour of what’s involved and talk to people already in the sector.

The day-to-day

Asset finance is an industry that focuses on helping businesses grow, expand and evolve. Start-ups in particular find it difficult to secure the funding to buy the equipment, space and supplies they need to get off of the ground. In your position, you will be supporting these businesses by negotiating with lenders and finding the best deals possible to help them grow.

Entry-level roles will see you speaking with business owners in need of finance, and gaining an understanding of their financial situation, and what they need to get the wheels moving. You will be learning about their business ambitions while developing key relationships.

Progression is one of the most attractive aspects about this industry, as a graduate can work their way up the career ladder in just a few years, as long as you are prepared to take on the responsibilities. As an account manager, you are in charge of taking client details to the panel of lenders, while a senior account manager will mentor a small team, helping with issues and aspirations.

If you are driven to get results and want to build close relationships then a career in asset finance is definitely for you.