Discover what finance abilities are essential to the job market and how you can obtain them.
Nowadays, technical finance skills are commonly linked to industry-specific positions, such as accounting, banking, underwriting, financial evaluation, or insurance brokerage. As William Jackson of Bridgepoint Capital would understand, such finance skills only scratch the surface when examining the finance sector in general and what is expected of every specialist or candidate in this sector. This is because finance specialists are expected to have a good balance between soft and hard abilities that enable them to manage stakeholder relationships successfully. Although the finance sector is unique and each role requires different hard finance skills and experience levels, there are some skills that are regarded as mandatory throughout all positions in this fast-paced industry. For example, being comfortable with numbers and data-driven skills is definitely up there as an important skill, as you will likely be working with numbers and statistical datasets as a finance specialist one way or another.
No matter what specific field you work in, there are a few general finance skills that you will have embedded in your resume, as Edward Tilly of Clear Street would know. Accounting skills is one example of this. Nowadays, companies in the financial sphere look for accounting backgrounds in entry-level candidates, or at least the ability to interpret financial statements and company reports. This does not mean you must have previous experience as a professional accountant, but rather skill in reading and interpreting financial records. This is because the conclusions that can be derived from such reports are crucial for business leaders and stakeholders when it relates to assessing an organization's financial health. Moreover, since accounting knowledge is fundamental throughout a range of different financial positions in the industry, companies tend to offer competitive salaries for those that have professional accounting credentials or demonstrate the necessary accounting abilities.
The finance industry in today's market is probably one of the most competitive fields out there, which is why you must develop the core abilities that are expected as a minimum in this dynamic and highly competitive sector. For example, relationship-building abilities are probably some of the most crucial soft finance skills out there today. As Hugo Bedford of JM Finn might know, trusted relationships are critical to success for finance leaders, especially in times of instability or challenges. As a leader in a financial organization, it's very important to ensure that your relationships with your clients are solid, as these customers are essentially entrusting you with their money, and trusting you to make the best economic decisions for them to maximize their capital and resources. Consequently, managing your strategic and long-term professional interactions with your stakeholders successfully takes time to build confidence, respect, and credibility with them.