People who want a career in the world of finance should carefully evaluate their skill set to make sure they have what it takes for a successful career. Career prospects look good as the U.S. Bureau of Labor Statistics anticipates the banking industry to increase 8 percent by 2018. The growth of the finance industry will not change, and neither will the skills they need from employees. Anyone seeking employment as a teller, vice president or in any type of the many different accounting jobs needs know there are certain skills that will always be important. |
Effective Communication Skills When it comes to being able to explain the details of a project, or even asking helpful questions, the ability to communicate effectively is a highly desired skill. It is a very desirable trait in many finance positions. Being able to talk with a customer about their account, and effectively explain a financial institution’s policies regarding a complex issue will catch the attention of any manager. Most banks believe the only way they’ll be able to grow is by developing relationships with existing customers. The need for people who understand how to communicate in easy-to-understand ways is only going to increase.
Good Math Skills Anyone seeking a career in the finance industry should have well developed math skills. Many finance jobs require the ability to do more than simple addition and subtraction. The reason for this is easy to understand. Many people in banking, such as tellers, loan officers or even brokers have positions that require them to explain the details of a transaction. It is important to be able to understand the math behind transactions as simple as a withdrawal or deposit, to the more involved transactions consisting of foreign exchange trades and more. Today many customers, as well as the federal government, pay very close attention to the math in every transaction.
Marketing A skill that continues to become increasingly valued in the financial world is marketing. Banks and other financial institutions are realizing they must work hard to get current and potential customers to recognize their brand. Someone with the ability to recognize areas of opportunity for a financial institution to market itself, will be considered a tremendous asset. Many financial institutions are working hard to win over the same customer.
Adaptability It seems the world of finance is changing on a daily basis. New technologies are being utilized in almost every area of finance. New rules and regulations requiring financial institutions to regularly change how they do business occur often. The increased emphasis on security and privacy is only going to make companies alter their procedures and policies even more. The better a person is at adapting to these types of changes, the more valuable they will become.
Problem-Solving Skills No matter what job a person has in the financial industry, they will encounter problems. Individuals with the ability to solve problems rather than be overwhelmed by them, will be sought after by managers. Identifying a problem and reporting it to a superior with an effective solution, has been known to help a person’s career grow at a rapid pace.
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