Finance is primarily concerned with creating, acquiring, and managing assets, investments, and expenditures. Choosing a career in finance requires you to specialize in any of the various fields available. Being a finance major requires you to have some skill sets to succeed. You should consider a career in finance if the following applies to you.
1. You love to solve problems
As a finance major, most of your time would be spent solving problems for your employer and client. You will be faced with unique challenges on a daily basis, and you need to find creative ways to solve them. From tasking negotiations to finding client-specific solutions, you will need problem-solving and critical thinking skills to handle the daunting situations you’ll be faced with. Some of these decisions would require you to assess different options and choose the best approach to meeting a particular need.
You will be expected to become an expert in a particular area of the financial market that your employer operates in, such as foreign exchange for example, and become a ‘go-to’ person for both clients and colleagues. Some economic data, news, and parameters can be obtained on trusted platforms that provide access to this information daily.
2. You have excellent communication skills
Becoming a financial expert goes beyond the acquisition of knowledge. It requires you to communicate your ideas, solutions, and analysis with a significant level of clarity. Communication and presentation skills are essential In a variety of circumstances. Whether you’re explaining a company’s financial situation or pitching an idea, you need to have solid communication skills to advance your career in finance.
Good communication also involves explaining complex subjects in simple terms. This conciseness is valuable because it fosters communication with any of your clients and co-workers who do not have a financial background.
3. You are hardworking
The world of finance is highly demanding, and you will have to devote your time and effort to get the best results. This might require you to work for long hours to get the stellar results you’re required to provide.
A lot of your time would be spent on the phone with clients, and when you’re not doing that, you’ll either be working individually or collaborating with colleagues on different projects.
The working hours can vary depending on your specialty and workload. If you’re a hardworking individual who doesn’t mind working for long periods to provide financial solutions, a career in finance might be right for you.
4. You are proactive
Being proactive is an invaluable skill set that is extremely useful in the world of finance. Many financial struggles and problems can be averted by proactive measures and approaches that produce good results. Taking on initiatives independently makes you a great employee and an outstanding financial professional. The ability to think for yourself and take on responsibilities without directives is a trait that anyone who wishes to succeed in finance must possess.
5. You have high emotional intelligence
Emotional intelligence is the ability to manage, perceive and understand emotions. This influences your ability to work with others, resolve conflicts and make mutually beneficial negotiations. A career in finance might be right for you if you can easily understand people and their perspectives.
Making meaningful deals and negotiations has an emotional component that many people fail to recognize. Furthermore, controlling your emotions helps you manage conflict and avoid the escalation of tricky situations.
6. You love Learning
The world of finance is fast-paced and ever-changing. Becoming a professional in this field requires you to keep learning and adapting to new market developments and finding creative ways to make significant returns for your clients. If you get drained and bored by repetitive tasks, then the field of finance might be right for you because learning new things daily can motivate and energize you. The evolution of finance and widespread acceptance of fintech has broadened the horizon for financial professionals by reshaping traditional employee roles.
Overall, staying ahead of the game requires a commitment to ongoing learning and development. This is where certifications come into play, as they can provide you with the knowledge and skills you need to succeed in your career. Certifications are not only a way to demonstrate your expertise and professionalism, but they can also open up new opportunities for advancement and higher salaries. If you’re interested in pursuing a finance certification, it’s important to research and find the one that best fits your career goals and interests. You can find many resources and study materials online, such as the free study guide for the SIE exam, which can help you prepare for the Securities Industry Essentials (SIE) exam, a requirement for many finance certifications.
7. You are inquisitive
If you love being aware of the processes and decisions being made in your organization, then you’re probably an inquisitive person. This is a notable trait that can help you succeed if you decide to major in finance.
Inquisitive people love to challenge themselves by finding new ways to automate and optimize processes. They have an innate desire to understand why things are done in a certain way and to find better ways to improve the current results.