Getting a job in high finance can be difficult even during a strong economy. Barriers to entry are high. Financial firms target what they perceive to be the best candidates, recruiting at only the best schools and subjecting candidates to the most grueling interview process.

In today's economy, with an increasing amount of candidates competing for a smaller pool of jobs, how do you manage to stand out among the sea of qualified professionals out there? Some job seekers are opting to return to school for a first - or even second - graduate degree.

Is it worthwhile investing in a finance career? If you are serious about entering or returning to the field - yes. Just a few years ago, it was competitive - but not exceedingly difficult - for a candidate from a top school to land a job on Wall Street. Thus, many candidates sought after jobs in high finance that otherwise would not have.

Today's economy has prompted many would-be candidates to reevaluate just how much they want to work in the financial sector. Many have turned to other seemingly lucrative fields, including management consulting. However, many students continue to pursue careers in finance. For those students serious about financial careers, opportunities still exist and will only increase as the economy rebounds. In the meantime, it may be worthwhile to pursue an advanced degree.

An MBA is an obvious choice for finance students, as it combines finance theory with general business application. If you are working, look into part-time or executive programs.

An MiF may be another valuable option - even if you already have an MBA. Specialized coursework in finance will help put you ahead of the game. Additionally, much of the coursework is applicable towards a CFA designation. Some programs are more theoretical and quantitative (e.g. Berkeley, Princeton), while others are designed to be more practical (e.g. London Business School).

An alternative to going back to school would be to pursue a CFA. Though generally desired for more quantitative roles like equity research and hedge fund management, many recruiters state that it will help other finance candidates (e.g. investment banking, etc.) stand out in a competitive market. Of course, you can pursue a CFA AND attend graduate school.

Are your skills still in demand? Consider taking some time during this downturn to retool and acquire new skills. Take steps to strategically re-position yourself for when the market rebounds. And remember to keep your financial modeling skills up to par.

Bankingorbust, LLC is here to help you through this tough period. Our team has compiled valuable resources to help you find and succeed at a job in investment banking.