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Writing standout cover letters is a vital part of the job application process. This is especially true when applying for a new position within the financial sector. A great finance cover letter can be the difference between being overlooked by a recruiter and getting the finance position you want.
According to a study conducted by Business and Professional Communication Quarterly, around 56% of employers prefer to read cover letters. This makes it all the more important to write a concise cover letter that catches the recruiters’ attention.
Crafting the perfect cover letter takes a lot of fine-tuning. Potential employers will take note of the effort you put into writing your letter, especially if you take the time to create a unique letter for every financial position you apply to.
There are five key elements to writing a good finance cover letter: a clear header with your contact information, a catchy opening paragraph, a list of your most impressive (but relevant) achievements and experiences, an explanation of why you are the perfect fit for the job, and a memorable call to action.
The header should contain all relevant contact information such as:
You will also need to include the contact information of the hiring manager or the company. This includes:
This shows you have taken the time to research the company you are applying to. Hiring managers go through dozens of applications every single day. When you address them directly, you create a more personal connection that won’t be filtered out as easily.
2. Catchy opening paragraph
Writing the first paragraph of a cover letter can be tough. Knowing what and what not to discuss here is key. In this first paragraph, you need to grab the hiring manager’s attention.
Here are the phrases and information to include in the opening paragraph:
Here are phrases and information you should not include in the opening paragraph:
3. Some of your most impressive achievements
This is where you need to mention more experiences and skills that fit the position you want. Demonstrate your financial know-how by going more in-depth into what you’ve accomplished at previous firms or companies.
For example, don’t just say you interacted with customers as a teller. Explain how you assisted customers, helped senior staff, and aided others on your team in reaching their quarterly goals. This gives the hiring manager a better idea of your skills. Impressive achievements can also include things like how your expertise boosted revenue, how you closed a deal with a particularly difficult client, and other appropriate experience that applies to this new job’s duties.
You will also want to be concise. Cover letters should express who you are as a potential candidate at a short glance. It shouldn’t be more than one page at the most. If the recruiter does want to know more, they will then contact you for that coveted first interview.
4. Why you would be a perfect fit for this job
In this paragraph, explain how your current experience would benefit the company you are applying to. Whether you are applying for an internship or a much higher-level management position, it is always a good idea to tailor your experience to the job description as closely as possible.
With that mind, it’s also a good idea to look into the following:
This can give you an insight into what working for this company will be like. It can also demonstrate to the recruiter that you understand what sort of employee they might be looking for and tailor your cover letter to fit that role.
5. A call to action
The final paragraph is a call to action in which you reiterate your enthusiasm for the position and emphasise how you believe you would be a good fit. This last paragraph should stick out in the recruiters’ minds. You should write a sign-off that urges the recruiter to reach out to you for the upcoming job interview stage.
If you’re looking for more inspiration for your finance cover letter, CVHelp has plenty more cover letter examples and cover letter templates for you to use. Feel free to tailor these professional cover letters to best suit your needs and work experience.
123 Harrington Court
London EC78 4XY
Mobile: 01632 960714
Dear Mr./Mrs. Smith,
As a finance analyst professional with over 10 years of experience, I believe that I am a good fit for the Finance Analyst position at Example Bank.
I have advanced through several challenging positions within the finance field. My background includes key roles as a Teller in Kensington Bank and a Financial Analyst at HKSC, which have allowed me to master my communication skills, team development, and leadership abilities.
In my most recent position as a Financial Analyst at HKSC, I had the opportunity to develop the skills and experience necessary to succeed in the Financial Analyst role in Example Bank. Examples of my current duties include providing support to the senior analyst team via market research, client outreach, and setting up meetings between managers and executives.
My passion for numbers and knack for forecasting patterns makes me a valuable team member in my current position. Senior staff can attest to my dedicated work ethic and have requested my services on numerous occasions. I would be thrilled to support the staff at Example Bank as your newest Financial Analyst.
Please do not hesitate to reach out to me by phone or email to schedule an interview at your earliest convenience. I am looking forward to speaking with you, and thank you for your valuable time.
Cover letters will require different styles depending on the job you’re applying for. An investment banking cover letter will be very different from a cover letter for an internship. Be sure to tailor your letter accordingly. If you are applying to a more traditional bank position, do not use flamboyant colors or non-professional fonts. Your cover letter will stand out but for all the wrong reasons.
If you still aren’t sure what style to use for your finance cover letter, CVHelp has plenty of tools for you to use, including our cover letter builder tool. This tool offers cover letter templates, examples and tons of sample phrases and advice to get your letter to stand out from the rest.
When listing your achievements in a finance cover letter, only use terms related to finance. After all, you do not want to discuss web development if your goal is to get into banking. The hiring manager might not be the first person to read your cover letter. Instead, they might run it through a computer program looking for specific keywords (e.g., “investment banking experience”) and filtering out letters that don’t use these words.
Using these industry terms increases your chances of your letter being noticed by the right people. Look to feature investment terms such as ROI, asset allocation, shares and shareholders, yield, liquidity and any other relevant terms that match the job description and your potential duties.
Make sure your achievements reflect what the position requires and that you discuss them as concisely as possible. If you helped boost your previous firm’s quarterly revenue, elaborating on how you had done so can be a great achievement to mention in your cover letter.
Of course, all of your achievements don’t need to be ambitious. If you have successfully dealt with difficult clients, managed successful outreach campaigns, or completed something as simple as a team leadership exercise, then honing in on those particular skills can prove to be key factors in setting you apart. There is more to finance than simply dealing with numbers all day. Being able to communicate effectively is a critical skill in any field, and demonstrating your finance expertise on top of that can be crucial in landing that first interview.
Remember that your cover letter should be a supplement to the CV. This means that the cover letter should elaborate on the experience listed on your CV rather than echo the same achievements again. For instance, the tasks you had in previous positions are often summarised in one sentence per task on your CV. In your cover letter, you need to explain how that work experience fits with what the company is looking for.
For instance, if you had to deal with clients or customers as a part of your previous position, you might make a short note of that on your CV. The finance cover letter allows you to discuss how that experience makes you the perfect fit for the current role. You might explain how you helped your firm close deals with clients as a Finance Analyst or helped customers open new accounts as a Bank Teller. Applying that experience to the position at hand can help recruiters better connect how you might fit into this role you are applying for.
You can also use CVHelp’s CV builder tool to help you craft the best CV for your job search. With CV templates and CV samples, plus expert-guided suggestions on how to fill out each section of your CV, you won’t have to deal with most of the hassle it takes to create a strong CV.
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