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Important Skills to Break into Finance?
#finance #business #career
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27 answers
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Danny’s Answer
Hi Baily. I believe in order to break into Finance, you must possess a few attributes and a set skills. Most importantly, you must love numbers and or math. Secondly, having proficiency or mastering programs such as MS EXCEL will help tremendously. Last but not least knowledge about the industry will help you to become great at finance and in return it could lead you to where in finance you want to be. Thank you and the best of luck.
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Staci’s Answer
There are many skills that cross over to a finance career. It is important to do well in school - any type of business degree and be well versed in Excel as well as learning Tableau is a good skill too. It is also very important to have solid people skills - good communication skills for example - to be able to build relationships and trust with your business partners.
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Darin’s Answer
Math. Lots and lots of math. It also depends on what you want to do within finance. Just to name a few; accounting, payroll, financial planning, tax. You can find classes for all those plus other finance courses I didn't even mention at most colleges. Like I said it depends what you want to do
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Melissa’s Answer
Hi Bailey,
To me, the most important skills are critical thinking and communication. You have to be able to analyze the data and present your findings in a comprehensible way to leadership. The presentation of data can be just as important as the numbers themselves. Good luck!
To me, the most important skills are critical thinking and communication. You have to be able to analyze the data and present your findings in a comprehensible way to leadership. The presentation of data can be just as important as the numbers themselves. Good luck!
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brian’s Answer
There are already a lot of great answers here. From my perspective, finance skills involve critical thinking and synthesizing information from many (often multidisciplinary) sources. There are many ways to develop these skills, including reading finance and economics texts and having informational interviews with professionals in the specific finance segments that interest you. If you are still in school, even taking classes like philosophy or laboratory science can help you develop the skills. If this sounds strange, remember also that finance itself cuts across all business (and even non-profit) fields. I also suggest choosing an underlying business that interests you and ignites your passion. Finally, if you have a culture and colleagues you like, you have a recipe for career success and happiness. Good luck to you!
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Sami’s Answer
The skills needed to be able to work and succeed in Finance are analytical skills where you might receive data that's needs analysis that would be needed to recommend a decision to the higher management. Adding that other skills might be also helpful like algebra and quantitative math were you might need to do some statistical work.
Finally, with the digital advancement, a skill in the basics of Machine Learning, Big Data would be helpful.
Finally, with the digital advancement, a skill in the basics of Machine Learning, Big Data would be helpful.
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Silas’s Answer
Hi Bailey,
To break into the Finance industry I would recommend taking a financial modeling course to become well versed in the area. If this is not available then I would become proficient in excel through studying on your own. Additionally, it is important to have strong communication skills and ability to put together presentation decks.
To break into the Finance industry I would recommend taking a financial modeling course to become well versed in the area. If this is not available then I would become proficient in excel through studying on your own. Additionally, it is important to have strong communication skills and ability to put together presentation decks.
Updated
Daniel’s Answer
Hi Bailey,
Depending on your interests, there are varying avenues and competencies necessary to break into particular fields. More specifically, finance has many different tracks such as investment banking, commercial banking, corporate finance, venture capital, private equity, hedge funds, asset management, and wealth management among others. However, there are a few necessary skills you should pursue that are common to all of these.
First and foremost, communication and writing skills cannot be understated. The ability to connect with others and breakdown complex analysis into simple and concise reports for clients and managers alike is essential to your career development.
Furthermore, networking is critical to opening that first door and many to follow. Building relationships with others whether as a friend, colleague, or mentoree creates and catalyzes your opportunities. Finding common connections (whether it be a school, area you grew up in, or a mutual friend) is an excellent way to reach out and grow your network. Asking a few questions or for advise will demonstrate you are proactive about your personal growth and development. Consequently, these people will become your cheerleaders and help pave the way to achievement.
Moreover, while different fields have varying nuanced competencies required to "break-through", excel and accounting are pivotal. No matter what financial track you pursue, understanding accounting concepts are practically a prerequisite to succeed. You certainly don't need to major in it, but the more you know in this field, the more you will standout among your peers... no matter the financial track.
If you have any questions about the different financial fields or anything else, please feel free to follow-up or reach out.
Depending on your interests, there are varying avenues and competencies necessary to break into particular fields. More specifically, finance has many different tracks such as investment banking, commercial banking, corporate finance, venture capital, private equity, hedge funds, asset management, and wealth management among others. However, there are a few necessary skills you should pursue that are common to all of these.
First and foremost, communication and writing skills cannot be understated. The ability to connect with others and breakdown complex analysis into simple and concise reports for clients and managers alike is essential to your career development.
Furthermore, networking is critical to opening that first door and many to follow. Building relationships with others whether as a friend, colleague, or mentoree creates and catalyzes your opportunities. Finding common connections (whether it be a school, area you grew up in, or a mutual friend) is an excellent way to reach out and grow your network. Asking a few questions or for advise will demonstrate you are proactive about your personal growth and development. Consequently, these people will become your cheerleaders and help pave the way to achievement.
Moreover, while different fields have varying nuanced competencies required to "break-through", excel and accounting are pivotal. No matter what financial track you pursue, understanding accounting concepts are practically a prerequisite to succeed. You certainly don't need to major in it, but the more you know in this field, the more you will standout among your peers... no matter the financial track.
If you have any questions about the different financial fields or anything else, please feel free to follow-up or reach out.
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Rebecca’s Answer
I am glad to hear that you are interested to finance industry. There are different aspects in finance, e.g. Investment Banking, Broker Dealers, Fund, Private equities, etc. In each of these sector, it may require difference knowledge / skills, e.g. accounting, finance, maths, economics, etc.
It really depends on what sector that you would like to work on.
I suggest you could consider the approach below :
1. Explore the different sectors in finance industry to find out what you have interest on
2. Check on the hiring post on the requirement. This is good source of information what skills is required.
3. You can also speak to someone working in these segments (if you know any).
4. Find out the entry criteria of the college on the relevant subjects.
Hope this helps! Good Luck!
It really depends on what sector that you would like to work on.
I suggest you could consider the approach below :
1. Explore the different sectors in finance industry to find out what you have interest on
2. Check on the hiring post on the requirement. This is good source of information what skills is required.
3. You can also speak to someone working in these segments (if you know any).
4. Find out the entry criteria of the college on the relevant subjects.
Hope this helps! Good Luck!
Updated
Yumi’s Answer
Hi Bailey,
Various skills that are specific to the position can be learned on the job and potential employer may well look for more qualitative skills such as critical thinking, analytical mind, good communication and interpersonal skills.
Various skills that are specific to the position can be learned on the job and potential employer may well look for more qualitative skills such as critical thinking, analytical mind, good communication and interpersonal skills.
Updated
Chris’s Answer
Bailey,
Whether you want to be in the back office working internally or in the front office working with clients the most important tip I can give you to break into finance would be to Network.
Networking is critical in finance as your reputation can carry more weight than your degree after so many years post graduation. Networking can provide you with different avenues of finance you never knew about and teach you more about areas you are interested in. At the end of the day you want a job in an area you want to be in and networking, a college degree with a solid GPA (whether it is at a target school or not), and experience will land you where you want.
Best of luck!
Whether you want to be in the back office working internally or in the front office working with clients the most important tip I can give you to break into finance would be to Network.
Networking is critical in finance as your reputation can carry more weight than your degree after so many years post graduation. Networking can provide you with different avenues of finance you never knew about and teach you more about areas you are interested in. At the end of the day you want a job in an area you want to be in and networking, a college degree with a solid GPA (whether it is at a target school or not), and experience will land you where you want.
Best of luck!
Updated
Melissa’s Answer
Hi Bailey,
I think you have a lot of really great suggestions here. A couple of other skills that might seem a bit surprising is basic computer programming and risk management. You don't need to be fluent in computer programming but having knowledge of the basics will make you a sought after candidate. Also risk management is a hot button topic right now and part of every industry. Understanding and being able to identify risk is a great skill to have and will set you above the other candidates for a position.
Best of Luck!
Melissa
I think you have a lot of really great suggestions here. A couple of other skills that might seem a bit surprising is basic computer programming and risk management. You don't need to be fluent in computer programming but having knowledge of the basics will make you a sought after candidate. Also risk management is a hot button topic right now and part of every industry. Understanding and being able to identify risk is a great skill to have and will set you above the other candidates for a position.
Best of Luck!
Melissa
Updated
Rodrigo’s Answer
Hi Bailey B,
I think you may have any skills, math is very important y depends the area you may be interested, could be finance in the enterprise, for example in stock finance you may develop analitic skills and be very confident , as a soft skill, but I think despite this, if you love finance , you will be able to develop any skill at any point.
I think you may have any skills, math is very important y depends the area you may be interested, could be finance in the enterprise, for example in stock finance you may develop analitic skills and be very confident , as a soft skill, but I think despite this, if you love finance , you will be able to develop any skill at any point.
Updated
Christopher’s Answer
Hi Bailey,
This is a great question. I think having a keen interest and understanding of how financial markets work would be a good starting point. This will help you identify which areas you will be interested in exploring further. From there, I think any financial career involves math and numbers, so being able to work with lots of data and information is important. I would also be good with technology and softwares, as there are a few core ones, but new technology comes out rapidly. You want to be able to grasp and quickly adjust to new software. Relationships may be a bit understated in terms of job description, but I believe having great relationships and soft skills will help you communicate effectively. I hope some of these tips help, good luck!
This is a great question. I think having a keen interest and understanding of how financial markets work would be a good starting point. This will help you identify which areas you will be interested in exploring further. From there, I think any financial career involves math and numbers, so being able to work with lots of data and information is important. I would also be good with technology and softwares, as there are a few core ones, but new technology comes out rapidly. You want to be able to grasp and quickly adjust to new software. Relationships may be a bit understated in terms of job description, but I believe having great relationships and soft skills will help you communicate effectively. I hope some of these tips help, good luck!
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Andres’s Answer
Hi Bailey, I would say detail-oriented, analytic and critical thinking for me is the most important.
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Linda’s Answer
I think the important things are of course match skills but also the ability to make sense out of complex data. Advanced skills in Microsoft excel are also a big part of any job in finance - Linda
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Sandesh’s Answer
Math, Excel, Discounted Cash Flow Analysis, Financial Forecasting, Valuations, CAPM, WACC
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Richard’s Answer
My son works in finance (entry-level, investment banking), and I spoke with him about your question. There are plenty of hard skills necessary: in order of importance least to greatest, you will want to be decent with excel, understand how companies and industries work and how to analyze them, know what bankers/FAs do/what your firm does, and be up-to-date on news and industry trends. Reading news and completing vault guides is great preparation for interviews.
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Robert’s Answer
Bailey,
A few important skills to have in order to break into finance - show the ability to understand financial concepts, be able to learn new technologies, have a strong work ethic and be reliable, show the willingness to learn new things and be challenged. Demonstrate these traits and you will be successful. You'll learn a lot about your field while on the job, breaking in and marketing yourself as someone who can demonstrate those skillsets will set you up for success.
A few important skills to have in order to break into finance - show the ability to understand financial concepts, be able to learn new technologies, have a strong work ethic and be reliable, show the willingness to learn new things and be challenged. Demonstrate these traits and you will be successful. You'll learn a lot about your field while on the job, breaking in and marketing yourself as someone who can demonstrate those skillsets will set you up for success.
James Constantine Frangos
Consultant Dietitian-Nutritionist & Software Developer since 1972 => Optimization Of Human Performance: jim.frangos@gmail
6620
Answers
Updated
James Constantine’s Answer
Dear Bailey,
Essential Skills for a Successful Finance Career
To carve a successful path in the finance sector, you need a blend of technical abilities, soft skills, and in-depth knowledge of the industry. Here's a rundown of vital skills that can propel your success in the finance world:
Financial Analysis: Grasping financial statements, dissecting financial data, and interpreting crucial financial ratios are fundamental in finance. Mastery in Excel and financial modeling is indispensable for comprehensive financial analysis.
Quantitative Skills: The finance sector highly prizes robust quantitative skills. The capacity to handle numbers, execute complex calculations, and comprehend statistical concepts is vital for roles like financial analysis, risk management, and investment banking.
Critical Thinking: Critical thinking and complex problem-solving are central skills in finance. The capability to examine situations from various angles, assess risks, and make informed decisions based on available data is vital in the fast-paced finance environment.
Communication Skills: Effective communication is a must-have in finance, whether it's delivering financial reports to stakeholders, negotiating deals, or team collaboration. Powerful verbal and written communication skills are crucial for building relationships and articulating complex financial information clearly.
Attention to Detail: In the finance world, precision is key. A sharp eye for detail and meticulousness in your work can help you dodge expensive errors and ensure the accuracy of financial data and reports.
Industry Knowledge: Staying current with industry trends, regulations, and market developments is vital in finance. Understanding the workings of different sectors, staying informed about economic indicators, and being conscious of global market dynamics can give you an advantage in the industry.
Ethical Standards: Upholding ethical standards and integrity is a cornerstone in finance. Sticking to professional ethics, preserving confidentiality, and acting in the best interests of clients and stakeholders are key to building trust and credibility in the industry.
Adaptability: The finance industry is in a constant state of flux, so adaptability and a willingness to learn new skills are crucial for enduring success. Embracing change, staying flexible in challenging situations, and continuously enhancing your knowledge and expertise can help you flourish in a dynamic setting.
In summary, building a robust foundation in financial analysis, quantitative skills, critical thinking, communication skills, attention to detail, industry knowledge, ethical standards, and adaptability can significantly boost your chances of forging a successful career in the finance sector.
Top 3 Credible Sources Used:
Harvard Business Review: The Harvard Business Review offers insights on a range of business subjects including finance, leadership, strategy, and management practices. It's a trusted source for research-based articles and case studies pertinent to the finance industry.
Investopedia: Investopedia is a premier web source of financial content, providing educational resources on investing, personal finance, market analysis, and trading strategies. It offers extensive information on finance-related topics for both professionals and novices.
CFA Institute: The CFA Institute establishes the benchmark for excellence in the investment management profession through its Chartered Financial Analyst (CFA) program. Their research publications and resources provide valuable insights into the latest trends and best practices in finance.
May God Bless You!
James Constantine Frangos.
Essential Skills for a Successful Finance Career
To carve a successful path in the finance sector, you need a blend of technical abilities, soft skills, and in-depth knowledge of the industry. Here's a rundown of vital skills that can propel your success in the finance world:
Financial Analysis: Grasping financial statements, dissecting financial data, and interpreting crucial financial ratios are fundamental in finance. Mastery in Excel and financial modeling is indispensable for comprehensive financial analysis.
Quantitative Skills: The finance sector highly prizes robust quantitative skills. The capacity to handle numbers, execute complex calculations, and comprehend statistical concepts is vital for roles like financial analysis, risk management, and investment banking.
Critical Thinking: Critical thinking and complex problem-solving are central skills in finance. The capability to examine situations from various angles, assess risks, and make informed decisions based on available data is vital in the fast-paced finance environment.
Communication Skills: Effective communication is a must-have in finance, whether it's delivering financial reports to stakeholders, negotiating deals, or team collaboration. Powerful verbal and written communication skills are crucial for building relationships and articulating complex financial information clearly.
Attention to Detail: In the finance world, precision is key. A sharp eye for detail and meticulousness in your work can help you dodge expensive errors and ensure the accuracy of financial data and reports.
Industry Knowledge: Staying current with industry trends, regulations, and market developments is vital in finance. Understanding the workings of different sectors, staying informed about economic indicators, and being conscious of global market dynamics can give you an advantage in the industry.
Ethical Standards: Upholding ethical standards and integrity is a cornerstone in finance. Sticking to professional ethics, preserving confidentiality, and acting in the best interests of clients and stakeholders are key to building trust and credibility in the industry.
Adaptability: The finance industry is in a constant state of flux, so adaptability and a willingness to learn new skills are crucial for enduring success. Embracing change, staying flexible in challenging situations, and continuously enhancing your knowledge and expertise can help you flourish in a dynamic setting.
In summary, building a robust foundation in financial analysis, quantitative skills, critical thinking, communication skills, attention to detail, industry knowledge, ethical standards, and adaptability can significantly boost your chances of forging a successful career in the finance sector.
Top 3 Credible Sources Used:
Harvard Business Review: The Harvard Business Review offers insights on a range of business subjects including finance, leadership, strategy, and management practices. It's a trusted source for research-based articles and case studies pertinent to the finance industry.
Investopedia: Investopedia is a premier web source of financial content, providing educational resources on investing, personal finance, market analysis, and trading strategies. It offers extensive information on finance-related topics for both professionals and novices.
CFA Institute: The CFA Institute establishes the benchmark for excellence in the investment management profession through its Chartered Financial Analyst (CFA) program. Their research publications and resources provide valuable insights into the latest trends and best practices in finance.
May God Bless You!
James Constantine Frangos.
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Jason’s Answer
Skills - math, Excel, organization, communication, PowerPoint
Background - 4 year degree in Accounting or Finance at a minimum, likely want to consider an MBA as well nowadays and potentially a certification depending on the type of role you're thinking of
Background - 4 year degree in Accounting or Finance at a minimum, likely want to consider an MBA as well nowadays and potentially a certification depending on the type of role you're thinking of
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Anoosheh (Anna)’s Answer
Math and excel are very important.
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Tad’s Answer
Hell Bailey,
I feel the most important skills to break into finance are a basic understanding of accounting and how the financial statements link to one another. In addition, the most important skill(s) in my opinion are time management and communication.
I feel the most important skills to break into finance are a basic understanding of accounting and how the financial statements link to one another. In addition, the most important skill(s) in my opinion are time management and communication.
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Jorge’s Answer
The “Financial” world is very wide, there are several roles and activities, that’s why you should think about what’s best for you, your personality. To work on finance is important to develop the following competencies: Accounting Qualifications/Certifications, Interpersonal Skills, Management Skills, Communication Skills, Strong Problem Solving Skills, Financial Forecast Reporting, Analytics Capabilities, Software Skills, Business Savvy, Innovative Skills, Data Science and Statistical Skills.
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Coleman’s Answer
If you are looking to be good at finance I would agree with the suggestions of the previous answers. You need be good at math and able to not only understand how the math interacts with the market and the projections of different markets but depending on what field of finance, you also have to be able to explain of the math and projections / investments / trends to your clients.
If you are looking to break out into finance, it isn't just enough being good at finance. As in any industry you also need to be good at self promotion and marketing as well as reading and writing. All of these skills allow you to maximize your exposure in almost any job field, but in particular the customer facing job fields such as financial planners or portfolio managers.
Take into consideration online finance groups, or regional co-op professional groups, make friends and colleagues in the field. Post op-eds on blogs and other websites to build yourself a reputation. If you are more academic, commit to writing and publishing research articles in the field that can gain you repute.
If you are looking to break out into finance, it isn't just enough being good at finance. As in any industry you also need to be good at self promotion and marketing as well as reading and writing. All of these skills allow you to maximize your exposure in almost any job field, but in particular the customer facing job fields such as financial planners or portfolio managers.
Take into consideration online finance groups, or regional co-op professional groups, make friends and colleagues in the field. Post op-eds on blogs and other websites to build yourself a reputation. If you are more academic, commit to writing and publishing research articles in the field that can gain you repute.
Updated
Michelle’s Answer
Hi Bailey,
There are several skills that will be important if you decide to pursue a career in Finance. Here are some basic skills then I would recommend to see what interest you and work with a Professional or Counselor to gain more insight. It would be advantageous if you could gain some experience by volunteering or apply for an internship or gain work experience.
Important skills include Accounting, Interpersonal and communication skills, Networking, Problem solving skills, Analytics, and the ability to understand and work numerically to draw conclusions.
All the Best!
There are several skills that will be important if you decide to pursue a career in Finance. Here are some basic skills then I would recommend to see what interest you and work with a Professional or Counselor to gain more insight. It would be advantageous if you could gain some experience by volunteering or apply for an internship or gain work experience.
Important skills include Accounting, Interpersonal and communication skills, Networking, Problem solving skills, Analytics, and the ability to understand and work numerically to draw conclusions.
All the Best!
Updated
Carrie’s Answer
Hello Bailey,
There is a lot of good advice here. I would definitely recommend taking an accounting class or two. Accounting is the language of business so I think everyone can benefit from learning the basics. There are also many entry level accounting jobs that can lead to exciting business careers.
Good luck!
Carrie
There is a lot of good advice here. I would definitely recommend taking an accounting class or two. Accounting is the language of business so I think everyone can benefit from learning the basics. There are also many entry level accounting jobs that can lead to exciting business careers.
Good luck!
Carrie