Recognizing basic finance skills that you need

Recognizing basic finance skills that you need

Blog Article

If you are interested in getting into the finance industry, this post is for you.


Today, technical finance skills are often associated with industry-specific roles, such as accounting, banking, underwriting, financial analysis, or insurance brokerage. As William Jackson of Bridgepoint Capital might know, such finance abilities only scratch the surface when examining the financial industry as a whole and what is required of every professional or applicant in this industry. This is because financial professionals are expected to have an excellent balance between soft and hard abilities 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 abilities that are considered essential across all roles in this dynamic sector. For instance, being comfortable with numbers and quantitative skills is definitely up there as an important 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 operate in, there are some general finance skills that you must have embedded in your CV, as Edward Tilly of Clear Street would know. Accounting abilities is one example of this. Nowadays, companies in the finance 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 proficiency in reading and interpreting financial records. This is because the conclusions that can be derived from such reports are crucial for executives and stakeholders when it comes to evaluating a company financial health. Moreover, since accounting knowledge is fundamental across a range of diverse financial roles in the industry, companies tend to offer competitive compensation for those who have professional accounting credentials or possess the required accounting skills.


The finance sector in today's world is probably one of the most competitive fields out there, which is why you should build the core skills that are required as a minimum in this fast-changing and fiercely competitive field. For instance, relationship-building abilities are probably some of the most crucial soft finance skills out there today. As Hugo Bedford of JM Finn would know, reliable connections are integral to success for financial leaders, particularly in times of uncertainty or complexity. As a leader in a financial organization, it's extremely crucial to ensure that your relationships with your clients are strong, as these clients are essentially relying on you with their money, and counting on you to make the best economic choices for them to maximize their capital and resources. Consequently, building your strategic and long-term working interactions with your stakeholders successfully takes time to build trust, respect, and credibility with them.