Discover what finance skills 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 brokering. As William Jackson of Bridgepoint Capital would understand, such financial skills only scratch the surface when analyzing the finance sector in general and what is expected of every professional or candidate in this sector. This is because financial professionals are expected to have a good blend between soft and hard skills that allow them to manage stakeholder relationships effectively. 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 across all positions in this fast-paced sector. For example, being comfortable with numbers and data-driven analysis is absolutely up there as a priority ability, as you will likely be dealing with numbers and statistical datasets as a financial professional at some point.
Regardless of what particular department you work in, there are some general finance skills that you must have embedded in your CV, as Edward Tilly of Clear Street would know. Accounting skills is one example of this. Nowadays, companies in the finance sector look for accounting backgrounds in graduates, or at least the capacity to dissect financial statements and company documents. This doesn't imply you need have previous experience as an expert accountant, but rather skill in reading and analyzing economic documents. This is because the conclusions that can be derived from such documents are essential for executives and stakeholders when it comes to evaluating an organization's financial health. Moreover, since accounting knowledge is fundamental across a range of different financial positions in the industry, companies tend to offer competitive salaries for those that have professional accounting credentials or possess the necessary accounting abilities.
The financial industry in today's market is probably one of the most competitive fields out there, which is why you must develop the essential abilities that are required as a minimum in this dynamic and highly competitive sector. For example, relationship-building skills 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 financial 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 strong, as these customers are essentially relying on you with their money, and counting on you to make the best economic choices for them to grow their capital and wealth. As a result, building your key and long-term professional relationships with your stakeholders effectively takes time to build confidence, respect, and credibility with them.