Transitioning out of the military and into finance may be a well-trodden path, but that doesn’t make it any more straightforward. As a veteran, you might wonder if your military experience translates to finance, or if the industry's reputation for long hours and competitive culture aligns with your values.
British Army Officer turned Vice President of Strategy at J.P. Morgan, Sunil Kandola has shared his thoughts and tips on what it’s like to make that move into the industry. From myth-busting navigating the corporate hierarchy, here’s what you need to know:
Breaking Down the Finance Myth
First things first: finance isn't a monolithic industry. Just as the military has it’s diverse branches and specialisations, the financial sector offers a wide array of roles and environments. From investment banking to corporate finance, retail banking to asset management, each area presents unique opportunities and challenges. The key is finding where your skills and interests align.
Many service leavers have preconceived notions about working in finance—whether it's about the culture, the hours, or the type of work. Some view it as impersonal or overly profit-driven, which can deter them from exploring opportunities. However, the reality might surprise you. Modern finance plays a crucial role in enabling businesses, supporting communities, and solving complex societal challenges. Your military values of discipline, respect, and integrity align perfectly with these broader impacts, making veterans particularly valuable in financial roles.
Understanding Your "Why"
Conversely, it’s not uncommon for people to be drawn to finance for prestige, without fully understanding the roles they’re applying for. This can lead to mismatched expectations, poor transitions and low retention rates. Which isn’t good for you, or for the businesses you’re working in.
So before diving into applications, take time to reflect on your motivations. Are you drawn to finance because of a genuine interest in the work itself? Veterans who succeed in finance often share a curiosity about markets, a desire to solve complex problems, or a passion for helping others achieve their financial goals.
So, to avoid this, ask yourself:
- What aspects of finance interest you most?
- Which of your military skills could add value to financial organisations?
- What type of work environment would best suit your working style?
Navigating the Corporate Hierarchy
One of the biggest adjustments for veterans is understanding corporate hierarchies. While corporate roles have their own "ranks" (from Analyst to Managing Director), they don't perfectly mirror military structures. Entry levels are typically determined by relevant experience and firm-specific factors rather than the previous rank.
This might mean starting at a level that feels junior compared to your military position. However, viewing this as an opportunity to learn and grow rather than a step backwards is crucial. Remember, if you approach your transition with humility and an eagerness to learn often find yourself advancing quickly.
The Qualification Question
"Do I need additional qualifications?" This is perhaps the most common question veterans ask when considering finance. In reality, it depends entirely on your target role. While some positions require specific certifications, others value experience and transferable skills more highly.
Sunil’s advice? Network with professionals in your target role to understand the typical career path. They can provide insight into which qualifications are truly valuable versus nice to have. Don't automatically assume you need an MBA or CFA to break into finance.
Beyond the Big Banks
Finance isn’t just about the big banks and corporations. While major financial institutions offer excellent opportunities, don't overlook smaller players in the sector. Boutique firms, mid-sized companies, and fintech startups often provide:
- More hands-on experience
- Faster career progression
- Greater role flexibility
- More direct impact on the business
These environments might also feel more familiar to veterans used to smaller, more agile military units.
The Learning Curve
Be prepared for a steep learning curve. Finance has its own language (yes, there are more acronyms than in the military), and cultural adjustments take time. Give yourself permission to:
- Ask questions
- Make mistakes
- Take time to adapt
- Lean on your support network
Remember, even seasoned professionals were beginners once.
Building Your Support Network
The finance industry offers robust support for veterans, including:
- Veteran employee resource groups
- Mentorship programmes
- Professional networks
- Industry-specific veteran organisations
These communities can provide invaluable guidance, moral support, and networking opportunities during your transition. Take inspiration from the veterans who've already made this journey successfully. Many report that their military experience provided unexpected advantages in finance:
- Leadership skills that translate directly to team management
- Crisis management abilities that prove valuable in fast-paced markets
- Strategic thinking that enhances problem-solving
- Discipline that supports regulatory compliance
- Strong work ethic that drives career progression
Making Your Move
Ready to explore a career in finance? Here are your next steps:
- Research different areas of finance to identify your interests
- Network with veterans already in the industry
- Consider whether additional qualifications would benefit your specific path
- Look for veteran-friendly employers and programmes
- Prepare to translate your military experience into civilian terms
- Learn to navigate the cultural differences between military and corporate environments
Remember, your military background isn't a limitation—it's an advantage. While corporate culture may feel different at first, your unique military perspective brings fresh insights and valuable approaches to problem-solving. The skills you've developed in service, from leadership to strategic thinking, are highly valued in finance. Take time to understand the industry, be patient with yourself during the transition, and don't hesitate to lean on the veteran community for support.
Want to explore how your military experience could translate to a career in finance? Try Redeployable’s new AI-powered career matching tool, to discover roles that align with your skills and experience. Check it out here.
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