In this article, you will learn about a variety of various economists that have successfully developed their skillset over the years
Among one of the most fundamental finance skills that virtually every single finance enthusiast needs to develop would revolve around their accounting and financial knowledge. A lot of people tend to think that accounting and finance skills are just needed if you are actually considering a career in accountancy. However, as William Jackson of Bridgepoint Capital would know, the financial services world is interconnected, and every single role within financial services needs you to recognize the 3 primary economic statements to at least an intermediate level. Companies rely on these economic reports to oversee budgeting, efficiency evaluation, and plan for the cost of doing business with the choice of one of the most suitable financial investments that may include bonds, equities and property. This is why you see many bankers, insurance underwriters, or even asset advisors coming from a chartered accounting foundation, which is simply because of the foundational understanding accountancy and financial services can provide you before you specialise in your financial occupation.
Nowadays, among the most obvious hard skills in finance will definitely involve your numerical abilities. Numbers and data-driven data in general are the core of every finance career. As Ferdi van Heerden of Momentum Global Investment Managers would certainly know, numerous banks tend to hire their interns, trainees, or apprentices from quantitative fields, such as mathematics, finance, chemical engineering fields, and computer science. This is because, as a financial expert, you are expected to analyze detailed spreadsheets that are full of quantitative information that you will likely need to evaluate, and having comfort with numbers is definitely a crucial skill to have in this case. One can argue that also back-office positions that do not necessarily include spreadsheets still require candidates to have some sort of quantitative or analytical experience, and this again reinforces the point around quantitative data being the foundation of every single process within a financial services sector organisation nowadays
One can quickly argue that soft skills in finance are as crucial as technical expertise. As Toby Raincock of Shard Capital would understand, being customer facing in an economic setting is possibly the most demanding positions you can ever find yourself in. This is since clients are relying on you with their own money and investments, and therefore, you require to have the capacity to form lasting working connections with these clients, serving as their advisors, and making their problems your very own. The better your relationship is with the customer, the simpler your job will certainly be. Such relationship-building abilities means that interaction skills are also essential in the world of financial services, particularly when it comes to providing insights and recommendations to customers. Additionally, you must likewise be able to diversify your approach when communicating with different stakeholders, switching between internal-facing and external stakeholders, depending on their degree of financial literacy and familiarity.