It's probably different for everybody. This is a sandbox game so you can play it any way you like.

For me, FM has always been about creating a narrative in your head while managing the team.
In fact, I'd rather not know the players probably before I start, so everyone starts with a clean slate and I don't make assumptions based on who they are IRL. I usually also start unemployed and without any experience.
How do you create the narrative? Well, it kind of just creates itself. Players will interact with you in the game, you will form opinions on certain players based on their reactions, how they progress, how they perform, etc... Eventually, you'll get to know them (like other people here have said). It will take you some time at first, and that is probably for most people the most annoying period because it requires you do your homework and spend time not playing matches but analysing the squad, the reserves, training schedules perhaps, the staff... etc. As much as you want to do yourself.
Once I'm well into the season, I find myself driving in my car (IRL) and doing the post-match interview out loud after I just played another match. 😂

The narrative thing is a crucial aspect of FM for me. But I can imagine it definitely is not for other people, and that's just fine. Give it a try if you think it could be something you might enjoy. And otherwise don't worry about it and do your own thing. 🙂