Microfinance is a field of financal services that caters to the poor or the near poor and is therefore more commonly found in developing countries. These are the people who normally do not have access to bank accounts, or other financial services. Microfinance helps them to start on their own business with the aim that they would ventrally be able to stand on their own and handle their own finances. Since poor people would be denied the chance of securing a loan from a bank or a regular financial institution, microfinancing comes in to provide these people with small loans so they could start on their own business. Once provided with a little capital, the people can set up their own business and improve their condition. Microfinancing is very important since it aims to help the poor in helping themselves. It is a better way of assisting them than just providing their everyday needs by giving them food, clothes, or a little money for their everyday needs.
There are a lot of opportunities open to those who are working in working in microfinance both here and abroad. These microfinance jobs would include research specialists, financial planners, and assets managers. If you are thinking about starting a career in this field then here are some instructions on how you can land a job in microfinancing:
Education- Finance is a highly specialized business, so you would need at least a bachelor’s degree in related fields like finance, business, management, or economics in order to be competitive. Some jobs would even require higher levels of education, so you might have to think about attending a good graduate school.
Volunteer- The best way to learn about microfinancing is to volunteer or get an internship at organizations like Kiva and Accion which are engaged in microfinancing. Although unpaid you can get valuable lessons from working there. You will also get to know me people in the microfinancing world. If you perform really well they might even hire you for a full time job.
Research- It pays to be informed. read all the journals that are related with microfinancing so you are aware of the latest rends. Find out everything that there is to know about the country or place that you might visit because of your work. Knowing a lot of things that can be useful and can take you far in your job
Apply- Send out as many resumes as you can. On the average, you will only get a reply from a fraction of those you send out resumes to. You have to be patient.
Be Ready- Once you have landed an interview, do some research about the company. Make sure that you can impress the interviewer with your depth of knowledge and knowhow. It wouldn’t hurt to create an impression that you are intelligent and knowledgeable about microfinancing, especially if it is true.
These are just some of the things that you can do to help make sure that you land that microfinancing job that you want.