An estimated 750,800 jobs are expected to be added to the finance and business sector leading into 2030, and if you think you have what it takes to succeed there, now could be a great time to get in.
Don’t assume that finance is not for you either. Some people may have the skills to do great in the field but assume that it’s not for them. This is often because they never truly cared about money or have a skewed view of finance. But you should know that finance is as much about people as it is about numbers and actually extends far beyond simply managing books. Let’s take a look at some of the signs that you may be perfect for a finance career.
You’re a Great Communicator
When people think about the finance field, they often imagine people crunching numbers in computer rooms full of screens with numbers scrolling on them. In reality, you’ll be spending a lot of time explaining complex principles to managers, staff, and clients when you work in finance. And to do this correctly, you have to be a great communicator.
If you’ve always been told that you are great at simplifying things or people told you that they never saw things a certain way until you explained them to them, then this is a sign that you are great at vulgarization, and this is one of the most important skills to have in this business.
You Have Good Tech Skills
The future of finance will be all about tech, predictive models, and gathering data. While there are still a few traditionalists in the field, we can expect most of the work to be done by computers shortly.
If you have great tech skills, then they will translate really well to finance. Especially if you understand things like machine learning and predictive analysis.
If you’re not sure you have the tech chops needed, you shouldn’t underestimate yourself as you may have the finance technical skills needed without you realizing it. If you’re familiar with Excel, for instance, then you already have some of the core finance technical skills needed to succeed in the finance field. So, we suggest that you look at some of the tools finance students have to master and gauge whether you’ll be able to learn them.
You’re Curious By Nature
Curiosity is a very important trait to have when you’re in finance. You have to be curious enough to probe into a client’s financial situation and find out what kind of investments would be better for them. You also have to be willing to dig deeper than the surface when you have unusual and unexpected movements in the markets.
There are so many new financial instruments being introduced right now too, especially in the crypto space. Cryptocurrencies will play a major role in the world of finance in the next few years, and those who were curious enough to learn about them before they went mainstream have a huge edge over other people in the field.
People who can take in information from various sources and use critical thinking and logic to connect dots also tend to do well in finance. Collecting data is one thing, but you have to be able to use that data to drive actual decisions and draw conclusions. Finance experts almost have a detective’s mindset when it comes to financial events and data and can gather clues and signs others don’t.
So, if you’re constantly looking at the news and try to get to the root of issues and usually get there before everyone else, then this could be a sign that you’re tailor-made for a career in finance.
You Know More About Finance than Most People
You might assume that everyone understands how a credit score works or the difference between a Roth IRA and a 401k, but not everyone does. If you already are doing things like filing your taxes yourself or know about things like equity funds and ETFs, then you’re probably farther ahead than most people when it comes to financing.
Making the transition to a finance major will be much easier for you. You’ll also be able to dig deeper and expand the knowledge you already have and even decide to specialize in areas where you already have expertise.
You’re a Great Team Worker and Leader
Finance jobs almost always require you to work as a team and you may be asked to work on multidisciplinary teams. If you’ve always loved team assignments and you were the MVP on most of the teams you’ve worked in, then you should definitely look into finance majors.
Finance is a great field for you if you’re a natural leader too. If you’d like to steer an organization’s financial decisions, then you could work as a chief financial officer, for instance. You could also look at senior manager roles or work as an executive.
You’ve Ran Multiple Businesses
If you’ve tried starting multiple businesses but failed, you shouldn’t see this as a bad thing. This shows that you have an entrepreneurial spirit, and you may be missing just a few things for you to be successful.
If that’s you, then you should definitely consider going for a finance major. You’ll understand things like forecasting better, for instance. You’ll be able to make better purchasing decisions, understand taxes and business regulations better, and understand how the state of global markets can affect a business.
Finance majors understand financing in and out too. This means that they will be much better equipped to know whether it would be a good idea for a business to get financing, what kind of financing they should get, or whether they should welcome investors. Bankers and other financiers will be much more inclined to work with someone who majored in finance too.
So, if you’re a serial entrepreneur and were looking for the perfect field for you, finance just might be it.
You Like Helping People
A lot of people see finance as a cutthroat industry where everyone is after their pockets, but it’s about much more than that. Accountants help businesses stay afloat and keep food on their workers’ tables. They can also help inexperienced entrepreneurs make better financial decisions and allow their small family-run operations to survive.
A good financial advisor can completely transform the life of a young person who doesn’t know how to manage money or a young couple welcoming their first child. They could help them strike their first mortgage too.
There are plenty of opportunities to help people in finance, and if you’re altruistic by nature, then you could look for a financial career that will allow you to do just that.
You Love Numbers
While finance is not only about numbers, they do still play a major role. So, you at least need to have some level of interest in math. If you absolutely love math, however, and you’re the type to do math problems on your own time, then this is a skill that could be transferred to finance.
You’re Emotionally Intelligent
A lot of people in finance tend to be analytical thinkers and there are some roles where this might help. But finance can get extremely personal, and pure analytical thinkers with poor people skills often have issues discussing it while considering the other person’s feelings.
This is why people who have a high level of emotional intelligence are in great demand in the finance field. It is a very rare skill among finance professionals and those who have a high EQ and great analytical skills have the perfect combination to thrive in this industry. These are often the ones that end up in senior positions or get asked to interact directly with the public. So you will not only be a perfect fit for finance but get access to great positions others won’t.
You’re Great Under Pressure
Finance is one of the most stressful fields anyone can work in. Depending on your position, your decisions may affect the livelihood of a lot of people. You also have to deal with constant deadlines and deliver on time or face serious repercussions.
If you’re the type of person who thrives under pressure, then you’ll be a great asset to any employer in the financial field. We can’t think of too many jobs in finance where there isn’t some level of pressure, and not everyone is cut for it. As a matter of fact, it is one of the main reasons why people leave the field. So, if you’re always cool and clear-headed no matter the situation, you have to look at what the world of finance has to offer.
It takes a very special type of person to survive and thrive in the finance field, but, if you have some or all of the traits in this article, then you may have the perfect profile. If that’s the case, you should speak with a counselor today to see if you have what it takes for the field.
