Different career paths in finance: Advice from Paloma Aparicio

6 min read

Here’s something you might not know: There are lots of different career paths in finance. The problem is you just might not know what they are. To help you succeed in your journey, we’ve put together a set of insights from Paloma Aparicio, one of our top advisors for the Master in Finance and Associate Director of our groundbreaking Talent & Careers department.

Stay tuned for a look at varying career paths in finance, how we help shape your journey and why studying finance at IE Business School is the choice for you.

What experience do the Talent & Careers team offer?

Paloma is a Financial Discovery Advisor who borrows from real industry experience: “I worked in London for almost two years, which adds some valuable expertise to the table,” says Paloma. “I don’t come from a traditional investment banking background, but I love the markets and asset management sides.”

“At Bloomberg, I started in a graduate program called Analytics and Sales. I spent a year in analytics, handling client queries via technical chat interaction, and then I moved into sales,” says Paloma.

The world of finance can be hectic—which Paloma knows firsthand: “I I truly enjoyed my time working in London. It’s an environment that keeps you on your toes, where every day feels like a test. To thrive there, you need both a passion for learning and the resilience to keep pushing forward.”

What different career paths in finance exist?

When deciding between different career paths in finance, you need advice from someone who cares about your success. “I love talking to students,” says Paloma. “That’s my passion. I want to help them avoid certain mistakes I might have made.” 

And Paloma can help you define these career paths with a methodical approach: “I usually categorize career paths into three big buckets. The first area is investment banking and corporate finance, where most students aspire to begin their careers, particularly in M&A. The skills developed here are highly transferable to private equity, which many students find appealing. The second area is global markets, which includes sales & trading, brokerage services, and more. Finally, asset management and alternative investments form the third pillar, covering sectors such as mutual funds, insurance, real estate finance, private markets, hedge funds, and infrastructure.” 

“My approach is quite flexible. When students enroll, we first have a face-to-face session of around 45 minutes where I walk them through what to expect from the program and the current job market. I ask questions to explore their interests, personality and how they see themselves. Also, whether they prefer technical tasks or client-facing roles. This helps us figure out which career path might suit them best.”

What career opportunities exist for women in finance?

The opportunities for women in finance are growing fast. While Paloma says many are currently drawn to ESG, risk management and client-facing positions, sectors like private equity and trading are also seeing women take the lead. Companies are increasingly focused on diversity and inclusion, offering programs to support women. This could be mean extra help when returning from maternity leave or just starting their careers: “The landscape is evolving, and talented women who stay committed can really make their mark.”

“It helps you understand the landscape and prepares you for what’s ahead,” Paloma says. “Around 80% of women in our programs aim for M&A and are actively interviewing, often landing offers from big firms before graduation. The opportunities are real, and with focus, you can succeed.”

That said, Paloma emphasizes it’s not always easy: “Finance can be demanding, and women often face more challenges. But the industry is becoming more inclusive and supportive. There are more roles opening up for women in private equity, ESG, and asset management.”

How can you decide on a new career path in finance?

While the main pathways in finance—like investment banking, private equity, and consulting—remain popular, the reality is that the industry is highly competitive. “About 70% or more students need backup plans,” says Paloma. “Often, students realize that their initial goals may not fully align with the realities of the roles they aspire to. I drill down with students—asking why they want certain roles. For example, if someone says they want to pursue M&A because they love financial modeling, I ask if they understand that the roles are more focused on supporting deal execution than on client interaction.”

The Talent & Careers team is exceptional because they can help you reimagine your career when necessary. “If your long-term goal is, say, managing a fund in ten years, it might be better to start with an internship in asset management to see if you like it, rather than initiating your career in a role that will not contribute to your pathway of choice” says Paloma. “Whether you need to find a new path or just want to explore options, we’re here to support you in making informed, strategic decisions.” 

In fact, to help you decide on a career path, the Master in Finance includes three different tracks which are geared to helping you specialize in a certain area. This might mean doubling down on knowledge for investment banking, or discovering a more strategic career path with entry-level jobs in more accessible positions. 

Investment Banking & Private Equity

This specialization allows work in areas like capital markets, underwriting, IPO, M&A, and financial advisory. There are roles in ECM, DCM, project finance, leveraged finance and corporate banking. Paloma says that developing skills in these fields enables a smooth transition to a variety of high-stakes roles: “Deep dive into investment banking and hone the skills you’ll need to transition to a career in private equity.”

“Most students who start in investment banking tend to stay there for about two to five years.” They might begin as M&A analysts, work in teams like DCM and ECM, and then move into private equity—either as analysts or later as associates. She notes that this career path is “very competitive,” but if they don’t succeed immediately, they can start in corporate finance and still build their careers. The Investment Banking & Private Equity track emphasizes how today’s complex financial world needs professionals who can help people invest in various innovative but profitable ways.

Global Markets and Asset Management

The Global Markets and Asset Management track explores careers in trading, investment and wealth management. Global markets include “trading positions” often obtained through graduate programs, with options like quant roles requiring “strong coding and mathematical modeling skills, especially with AI and data-driven approaches,” which are highly sought after. Asset management begins with internships or analyst roles and leads to senior positions like portfolio managers.

While these sectors appear different, they share transferable skills. The program introduces all areas early on, with specializations including fixed income, currencies, commodities, equities, derivatives and wealth management. Developing expertise in these fields allows you to “manage funds and investment portfolios on behalf of companies and individuals, growing your clients’ value,” providing diverse career opportunities in both global markets and asset management sectors.

Real Estate & Alternative Investments

For students interested in real estate and alternative investments, there are diverse opportunities in private markets. These fields often involve investing in private companies, real assets, and non-traditional financial instruments, and can include exposure to asset classes such as real estate, infrastructure, private credit, and sometimes commodities and cryptocurrencies. “In this volatile market, investors are looking for a surefire way to invest their money,” says Paloma, noting the importance of understanding various investment options.

Even for long-term goals like M&A, flexibility is key—starting in consulting or corporate finance can build valuable skills and networks. “If someone really wants to stay on a specific long-term path like M&A, I advise that they may need to be flexible initially,” says Paloma. Whether pursuing client-facing roles early or specializing later, adaptability and knowledge are essential for success.

Why study the Master in Finance at IE Business School?

Interested in studying the Master in Finance? Make sure to follow the link below to ensure you have a full understanding of everything on offer. IE Business School won’t just provide you with expert knowledge of financial markets—it delves deep into current trends like AI and sustainability.

With hands-on experience in our Trading Room, electives, certifications and a Talent & Careers team with unmatched knowledge, you’ll be ready to step into a professional role that suits you best.

“Just remember, the key is to stay proactive, keep learning, and don’t get discouraged by the competition,” says Paloma. “There’s space for everyone who’s committed. And if you ever need guidance, I’m here to support you along the way.”