Overcoming imposter syndrome: Advice from recent finance graduates
Feelings of inadequacy are common among high achievers. Recognizing that and employing a few simple strategies can help you remain calm and confident under pressure. Recent graduates share their tips on what works best.
You would think that landing an attractive new job in a competitive industry — like finance – would be a tremendous confidence booster. But in fact it can often bring on unpleasant feelings of anxiety, self-doubt and fear of being exposed as a “fraud.”
Imposter syndrome – the belief that you are not as competent as those around you think and are undeserving of your status or accomplishments – is common among high-achievers.
It is also closely connected to one of the top four concerns expressed by respondents to CFA Institute’s 2024 Graduate Outlook Survey regarding their career prospects: feeling underqualified for the job they want.
But imposter syndrome may not be all bad. It could provide motivation to work harder and studies show that it might even make you better at interpersonal interactions – doubtless by instilling an often undervalued virtue: humility.
One risk is that unpleasant feelings brought on by imposter syndrome can become crippling and interfere with your performance. It’s important to accept that imposter syndrome is natural – but also to have strategies to deal with it.
You are good enough
According to Hugo Heanly, a recent graduate with a Bachelor of Finance and Bachelor of Science from the Australian National University who completed an investment banking internship at Goldman Sachs, “what people don't realize is the expectations of interns or incoming analysts aren’t as high as what everyone believes.”
He added that some of the best advice he received from mentors is that “when you go into a new environment, you have to assume that you know nothing and you have to be a sponge and really engage in this learning environment.”
So, while “there is always a feeling of imposter syndrome and being underqualified,” Heanly said that what ultimately matters is “your attitude and the way you go about tasks and your openness to learning.”
Alex Pates, who is studying business administration and accounting at University of the Philippines Diliman, acknowledged that “a lot of us, especially in this competitive field, feel a lot of imposter syndrome.”
Her advice is to “fake it to make it,” willingly take risks and don’t sweat mistakes. “You have to put your best foot forward all the time. If the results are bad, then it's something to learn from. And if the results are good, you just did yourself a huge favor.”
Come ready to learn
“One of the things that helps me is just being comfortable with not knowing and being comfortable with asking questions and making sure that I'm able to identify what I feel underqualified in, and how I can improve,” said University of Waterloo Master of Accounting student Coco Dai.
“Just try your best,” added Ronis Goel, who is currently pursuing a Bachelor’s degree in Accounting and Financial Management at University of Waterloo. “You know you can pick up skills and experiences really quickly.”
It’s also important to let go of perfectionism and be kinder to yourself. Other proven strategies are to share your feelings, reflect on and celebrate your successes, and discuss your perceived failures with others.
Ask for help
Finally, don’t hesitate to turn to your more experienced colleagues for advice and help.
“It's very important to get to know people and to assume that everyone always knows more than you, so you can try to learn from them,” said Arnav Sheth, who is currently studying Accounting and Financial Management at University of Waterloo.
It is worth bearing in mind that whatever you are working on is likely to be part of a bigger picture: keeping your eye on that can help you stay calm and focused under pressure.
“A really important skill within finance is being able to understand what the big picture is,” said Sheth. “It's quite common to get absorbed in the nitty gritty of things. Being able to understand why things are going on is really important overall.”
Indeed, one way to tackle imposter syndrome is by putting things in perspective. Take a minute to reflect on how far you’ve come in the last five years, or even the last year. That simple exercise may well help iron out the cognitive distortions behind whatever feelings of inadequacy you may be struggling with.
Discover more: read the full series
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