Career in finance is a very rewarding but challenging career choice to make. But just like any job, there are certain characteristics and soft skill sets that make you more likely to succeed in a career in finance.
The points discussed in this article apply to all facets of career in finance. Whether you’re planning on being a mortgage advisor, a financial engineer, a financial planner or an investment banker, if you want to have a fulfilling and rewarding career, you’ll want your day-to-day role to reflect your interests, abilities and ambitions.
You must be convinced within yourself that you will give a resounding yes to the entire question asked in this article. Before you enter into the world of money management, there are a few questions you may want to ask yourself. And must not have any doubt in your mind that the answers to the questions are yes- I know I emphasised on that point.
4 Questions to Answer before Choosing a Career in Finance
The rest of this post discusses soul searching questions that one must provide sincere answer to when faced with the decision of choosing a career in finance.
Am I a people person?
Whether you’re working with private or corporate investors, most financial advisory roles involve offering advice to clients on how best to approach major financial decisions. You’ll spend a significant amount of time listening to customers’ concerns and developing an understanding of their objectives.
If you are selling investments, you will also need to be a good communicator and be able to demonstrate strong sales techniques to close deals. As such, it’s crucial that you have good interpersonal skills in order to build trust and grow your client base. As financial training specialist Simply Academy note, being able to support and maintain appropriate client relationships is vital if you are to succeed as a financial advisor.
Do I enjoy working in regulated environment?
Taking up a career in finance will mean that you will have to abide by many rules. Except you want to be the latest spotlight of investment banking scandal. Someone may at this point be asking. Who cares if I am in negative spotlight as long as I make the money?
Well, the world of finance is not for you if you are one of those people with that kind of thinking. Career in finance is built on trust and good reputation. You won’t make it for long if you don’t play by the rules regardless how smart you are.
Do I enjoy problem solving?
A career in finance typically involves a lot of decision making and in-depth planning of individuals’ or organisations’ financial operations. With this in mind, if you are someone who gets satisfaction from solving complex problems and you have a good head for figures; it may be the ideal job for you. Work is typically fast paced, so you’ll need to be able to make well-informed decisions under pressure. Analytical skills are also a must, especially when it comes to financial planning. But this does not mean that you have to be only a number cruncher.
Do I thrive on fast-paced work with a high earning potential?
Financial occupations typically attract ambitious people who are looking for excellent career opportunities. Generally, high performers can get ahead relatively quickly, regardless of age or years of experience. You may also have the opportunity to manage multiple responsibilities and grow a diverse professional network, which can help to drive your career forward at a faster pace.
Widely known for its high salary potential, the finance industry is often much more generous in terms of compensation than other sectors. Bonuses are also common in investment banking and financial advisory jobs that involve sales. So, if the idea of making money quickly appeals to you, the lucrative world of finance may be just what you’re looking for.
Of course, there are plenty of different routes you can choose in finance and doing a little research into the various options available may help you to find a role that’s well suited to you.
Let’s I forget. Do not forget the professional qualifications as these will make you stand out from the highly competitive crowd.