6 Books Every Young Financial Professional Needs to Read Now

finance books

Books are an excellent resource for learning. If you want to learn more about building your financial career, each book offers a unique perspective on ways to achieve your fullest potential.

Here are the six books that can help guide you through the process:

Read on for more information about each book and why we’ve selected them.

Principles of Life & Work by Ray Dalio

principles recommended for finance

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Great book for: Developing a work/life balance

Maintaining a work-life balance is challenging for most professionals in the financial landscape. To solve the challenge, one of the most successful investors and Time magazine’s list of 100 most influential people, Ray Dalio, shares the principles he’s developed and redefined over the past forty years.

The book can help young financial professionals manage their decisions, tackle challenges, and learn the skills to build a team. Principles in Action also comes with a free app that brings the principles to life through interactive videos of actual cases.

Buy it here

A Random Walk Down Wall Street by Burton Malkiel

great book for investment professionals

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Great book for: Learning the ins-and-outs of the investment landscape

Need help building out portfolios for clients? Are you trying to become an investment professional? As an investment professional, you’ll need to learn to master these skills since hiring is notoriously competitive.

Burton Malkiel’s book has the information you need to learn about start building out a portfolio and understanding investing methods. An Amazon reader wrote, “Easy to read review of how the financial investment world works. Up to date through 2015, with the latest investment options covered.” For a basic introduction to sound investment concepts, you can’t do much better than A Random Walk from Wall Street.

Buy it here

How to Win Friends & Influence People by Dale Carnegie

book to improve communication skills
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Great book for: Professionals with a deep desire to improve their communication skills

Advancing communication skills can help in many aspects of the beginning of your career, from interviewing, to networking, to presenting, to getting a promotion with your current employer. The top financial organizations understand that if young financials professionals are seeking success in their career, excellent communication skills are an essential element. CEO of Goldman Sachs, David Solomon (as cited in Yahoo!Finance), advised that “How you communicate with other people, how you interact with other people, how you express yourself will have a huge impact on your success.”

If you struggle with communication skills, this book is a must-read. How to Win Friends & Influence People is a go-to classic book on practical principles and historical examples for building communication skills. Although the book was published in 1936, Carnegie’s insights are still influential today for any situation that involves interacting with people in the workplace.

Buy it here

[Related: How to replace the most overused phrases on a resume]

Dictionary of Finance & Investment Terms (Barron’s Financial Guide) by John Downes and Jordan Elliot Goodman

dictionary for finance professionals

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Great book for: Understanding financial terms and regulations

At the beginning of any career, you’re going through a period of adjustment. It doesn’t matter the level or what role you’re in financial space — you’ll need some time to learn the ropes on the regulations and financial frameworks.

If some financial regulations or acronyms still make you go, “Huh?” Don’t worry — John Downes and Jordan Elliot Goodman’s book supplies over thousands of must-know terms that you need to understand in your career.

Buy it here

What Color is Your Parachute by Richard N. Bolles

great book for job search

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Great book for: Trying to look for a new job

If you’re searching for your next position or trying to get your first one, you may want to select this one. Why? Richard Bolles teaches you everything you need to know when it comes to job search.

At the beginning of the book, Richard takes you through all the building blocks before you apply to a job – from building up your resume as well as how to advance your networking skills. And at the end of the book, it focuses on how to find your ideal career.

Buy it here

[Related: Hiring insight for financial professionals]

When Genius Failed by Roger Lowenstein

recommended book for hedge fund professionals
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Great book for: Acquiring knowledge on the hedge fund industry

To make your mark in the hedge fund industry, you need to know the space through and through. Most funds created a lot of misinformation about the industry. If you’re trying to put the pieces together on questions such as: What are examples of winning strategies? What practices to avoid in the field? What it’s like to work in a fund?

All these questions are uncovered in Roger Lowenstein’s book. For those who want to build a successful career in the space, When Genius Failed is a story that provides many valuable lessons about the dangers of excessive leverage and the financial markets from Long-Term Capital Management. At this point in your career, you may not know the ins-and-outs of the industry but learning from Long-Term Capital’s failures can help you on the path to becoming an expert.

Buy it here

[Related: Top 4 qualities of a hedge fund candidate]

Did we miss one? Tell us what the best must-read books are for young financial professionals by tweeting us at @OneWiretweets.