6 Essential Skills Employers Value In Finance Professionals
Today, almost every industry encompasses business careers. As a result, business professionals are the favorite choice of employers in large enterprises, small-scale companies, non-profit organizations, and government offices. However, given the dynamic nature of this field, every career pathway requires a different set of skills and personality traits.
If you have a way with numbers and are good with maths, you most likely have graduated with a finance degree. Undoubtedly, finance is a great career choice with heaps of opportunities. The field offers challenging environments and generous salaries.
However, if you are unsure about the requisites that can get you to step your foot through the finance door, then a bachelor’s degree is a must. The degree qualifies individuals for entry-level job positions. In addition, the degree program emphasizes the latest developments and ongoing market trends. If you wish to move further in your career trajectory, then a master’s degree is the gateway. However, aside from theoretical knowledge, today, employers search for individuals with a brushed-up skillset to help organizations attain qualitative outcomes.
1. Accounting
Wishing to establish a successful finance career without accounting knowledge is next to impossible. Thus, professionals should possess solid accounting skills to record financial transactions in a precise and accurate manner. Moreover, these skills enable individuals to anticipate the future financial needs of the organization.
Therefore, individuals should keep themselves updated with the newest accounting practices and trends. Fortunately, with the advent of technology, professionals have it easy. Individuals interested in career progression can opt for an online MACC degree and build their accounting skills up to par.
eLearning serves as a viable option for professionals who might not have geographical access to the programs that align with their interests. Or for those who find it hard to manage family and other commitments. And so, professionals can broaden their knowledge spectrum, help businesses make crucial forecasts and achieve a work-life balance.
2. Data management
Considering the wealth of online data, finance candidates must learn data management expertise. Professionals who know how to collect, store, monitor, and manage data consistently can benefit employers.
Being a finance graduate, an individual should be well-versed in data query skills. The structured query language (SQL), one of the programming languages, allows individuals to extract valuable information from large data arrays.
Although these professionals may not need to operate on data exhaustively; however, data management abilities can alleviate some burden. Aside from this, data management makes it possible for organizations to merge the essential data and conform with the laws and regulations.
3. Financial reporting
One of the most highly sought skills that make finance graduates stand out in the market is sound financial reporting. These days, finance firms seek professionals who know how to craft reports precisely and understandably.
Individuals should master the art of presenting insights and results to the stockholders and higher executives in a detailed yet accurate manner. Financial reporting includes preparing income and balance sheets, drawing financial statements, developing budget plans, and performing regular audits.
In simpler terms, financial reporting determines the financial health of the organization. Therefore, candidates who wish to gain a competitive edge should have the expertise to extract fruitful insights from the reports.
4. Effective communication
Long gone are those days when finance professionals would only limit themselves to their cubicles. Today, strong communication skills, verbal or non-verbal, are indispensable to achieve business goals and targets collectively. It is one of the absolute necessities of the finance world.
Individuals whose communication is their forte can prove to be a valuable asset for any organization. In addition, aspiring finance professionals should learn how to convey stories behind the figures effectively.
Also, they must excel in communicating financial jargon, complicated transactions, and investment decisions in a way that makes sense to the clients. Without this skill, it gets pretty hard to collaborate with professionals of other domains or departments.
5. Technological know-how
The evolution of digital technology has forced employers to look for individuals with sharp technological skills. Today, technology has empowered businesses to streamline various business operations, save substantial time, and enhance employees’ productivity levels. Therefore, individuals that are well-versed in handling technology and utilizing multiple software and accounting systems are preferred by employers.
Finance candidates should never pass up any opportunity to upskill and become tech-savvy. In addition, individuals should also exhibit the quality of adapting to the changing business landscape. Without the right tech skills, individuals will remain unaware of the ins and outs of the business realm and fall behind in the pool of candidates.
6. Analytical thinking
Analytical thinking is of paramount importance in the finance realm. It is because this skill ensures stable growth in an individual’s career. It is the ability to think innovatively and strategically, cope with different scenarios, and draw appropriate inferences. This skill differentiates individuals from the rest. Therefore, individuals should cast aside their emotions when pondering a financial problem and think prudently to propose logical solutions.
These days, organizations hire employees that can observe changing patterns, disparities, and aberrations in the accounts. Thus, finance professionals should showcase their analytical capabilities through real-life challenges and by keeping tabs on KPIs.
Final Words
Stepping your foot in the world of finance requires remaining abreast of prevailing trends and honing essential skills. Moreover, since the industry is already intensely competitive; therefore, spare no effort for networking and keep yourself well-informed about the latest news.
The ever-changing financial landscape has opened a world of opportunities for aspiring individuals. And the good news? The field offers numerous jobs with high earning potential. Of course, the salary will vary according to the qualification. However, whether you choose a traditional career path or a modern one, rest assured the job will be incredibly gratifying. Therefore, broaden your horizons, hone your skillset, and remain enthusiastic throughout the journey.