It is no secret that an MBA in Finance is one of the most preferred and valued degrees today. Almost any individual willing to carve a successful career path signs up for this masters program. But, the main question is – is your MBA in Finance degree enough? What to do employers really want from finance graduates? Do you have a skill set that matches their evolving requirements?
Understanding what potential employers are looking for and then developing your skill set will help you become the ideal candidate. To help you out with this, we have made a comprehensive list of finance skills that employers value. So, if you want to get closer to becoming the most-preferred candidate, keep reading.
Related Article: An Ultimate Guide On: Skills Required for MBA
Considering the number of job profiles in the finance industry, the skill set might vary. Hence, we have included skills that are common amongst most financial professionals.
Lets get started.
Ten years ago if you were to think about a finance professional, you would mostly picture someone bound to their cubicle. But, fortunately, that era isnt there anymore. Apart from crunching numbers regularly, these experts are expected to work with clients.
When it comes to working with clients, you have to know how to understand their requirements, build trust, and a professional relationship that benefits your organization. And, to make this kind of a rapport, you should work on your interpersonal skills day on a regular basis.
In simple terms, this refers to the disclosure of financial results to the board and stakeholders such as investors, customers, regulators, and more. Financial reporting helps understand how a company has performed over a specific period of time.
Even though it sounds pretty straightforward, in reality, it is quite challenging to find candidates with strong financial reporting skills. Financial companies want applicants who can present a high aptitude for financial reporting.
While presenting important information like financial reports, you need to look at all the facts. This is where logic plays a vital role. Presenting any data is not just about reading from the slides. You have to know what you are doing and why you are doing it.
At every point, you should know how to weigh the pros and cons of your actions. This skill will help you reason through important decisions, come up with creative ideas, create strategies to accomplish your goalsall of which are necessary for advancing your career.
You might have an MBA from one of the best colleges, you might be aware of the latest methods to address issues, and have excellent communication skills. But, all of this would not matter much, if you are not able to manage your time.
Today, employers want to hire individuals who value their time and know how to use it efficiently. This trait does not just lead to higher productivity, but also reduces stress, and helps build a dedicated working environment.
Gone are the days when the finance department was all about maintaining huge file records and stuffing their offices with it. Thanks to todays advanced technology, it has become much easier and faster to find, process, and store the bulk of information you need to work in finance.
However, to reap these benefits, you need to understand that technology. This is because the available tools continuously evolve. So, you also have to keep yourself updated with modern information technology. Staying updated with the latest practices will help you be in a good position to succeed.
Now this skill is slightly different and new as compared to the ones mentioned above. As the name suggests, you need to have brief knowledge about trade and financial practices based on a particular region.
For instance, the finance rules that are valid in India might not be relevant in the States. So, if you want to work abroad or a different city, you should keep yourself informed about their business practices.
When any company is hiring an MBA in Finance graduate, they arent looking just for technical knowledge. They also want to know if you can handle a team, communicate and present your ideas to the board, work under pressure, and more.
Although it is not a must, you are likely to be preferred if you have had this kind of work experience. Remember, employers are never looking for someone who will do what they are asked. They want someone with a vision to grow the company, and this is where your management experience comes into the picture.
It is true that finance and accounting are often associated with routines and systems. However, this does not mean that this isnt the place to innovate. Employers prefer candidates who have the ability to break the pattern and can produce something new that will benefit the company.
Do you have what it takes to build a successful career in finance? Remember, when looking at two graduates with the same degree, these skills make a difference. So, make sure you work on building and enhancing this skill set day in and day out. All the best!
At ASMs IBMR, we aim to empower our students with sound financial knowledge while enhancing this skill set. So, if you want to take a step closer to a glorious financial profession, sign up for our masters program right away.